The Japanese government raised its forecast for economic growth in the next fiscal year on Thursday, citing higher growth in corporate spending and earnings to support consumption. The new forecast, which is being used to prepare the government's draft budget, assumes that Japan will be able to overcome the problem of a slowing global economy due to strong domestic demand and the opening of...

The World Bank (WB) has approved a total of $610m in financial support for Ukraine to meet "urgent needs". The aid package will include a $500 million loan guaranteed by the United Kingdom, as well as funds to support Ukraine's healthcare system. "The Russian invasion in Ukraine continues to have devastating economic and humanitarian consequences, affecting the health sector, critical energy...

According to Baker Hughes, there are now fewer active drilling rigs than in September. During the reporting week, the number of active oil and gas drilling rigs in the US decreased to its lowest level since September. The index fell for the second consecutive week due to falling oil prices, Baker Hughes, a provider of oil services, stated. The number of operational oil and gas drilling rigs, a...

Reuters reports that, despite the relaxation of coronavirus restrictions, the streets of China's major cities are nearly empty. Many residents are either sick or trying not to leave their homes unnecessarily to avoid becoming infected due to severe drug shortages, according to the agency. China's Bureau of Statistics reported 2,000 new cases of COVID-19 for the entire country on December 17th....

Hoegh Esperanza, Germany's first floating liquefied natural gas (FLNG) storage and regasification facility, was launched at the North Sea port of Wilhelmshaven. The state was eager to get the project up and running as soon as possible, so a special law was enacted, and the 26-kilometer pipeline connecting the new terminal to the existing pipeline system was completed in just five months. The...

Given that businesses are increasingly prepared to pass on rising expenses for energy, food, and raw materials to the end consumer, consumer price inflation in Japan in November will probably hit a maximum of 40 years, show findings of a survey conducted by Reuters. According to survey participants, the core consumer price index—which includes energy but excludes volatile fresh food prices—likely...

Peruvian government officials have declared a state of emergency across the entire nation. The decision was made due to instances of violence and vandalism during protests, said Alberto Otarola, the director of the Peruvian Ministry of Defense, made this announcement. According to Mr. Otarola, whose speech was broadcast on TV Peru, "it was decided to declare a state of emergency for the entire...

NATO has approved the military budget for 2023 at €1.96 billion, a 25.8% increase over current year, reported the press office for the alliance. "At a North Atlantic Council meeting on Wednesday, allies reached an agreement on the military and civilian budgets for NATO in 2023. With an increase of 27.8% and 25.8% over 2022, the civil budget is set at €370.8 million, and the military budget is set...

A 150 million barrel oil field has been discovered by Turkey in the Mount Gabar area of the southeast Turkish province of Şırnak. Turkish President Recep Tayyip Erdoğan made this announcement following a meeting of the Cabinet of Ministers. He estimates that the deposit is worth roughly $12 billion. President said that Turkey has found 150 million barrels of net oil reserves in the area of Mount...