Italy's consumer confidence index declined from 96.5 to 95.2 in April 2024, according to the Italian National Institute of Statistics (ISTAT) Wednesday's data.
The drop was not uniform across its components; future confidence took a hit, dropping (...)
Germany's business morale saw an unexpected boost in April as the Ifo Institute's business climate index climbed to 89.4, surpassing the anticipated 88.8 and marking a significant rise from March's 87.9, according to data released on Wednesday cited (...)
The Egyptian Pound (EGP) experienced a dip against the US Dollar (USD) in early market activity on Wednesday, April 24, 2024, leading to a series of rate adjustments by various banks.
The National Bank of Egypt, Banque Misr, Faisal Islamic Bank, and (...)
Italy's antitrust authority has imposed a fine of 10 million euros ($10.70 million) on two Amazon subsidiaries over alleged anti-competitive practices, the authority announced on Wednesday, as cited by Reuters.
The regulator accused Amazon of (...)
Eurozone inflation remains a concern, and a rate cut by the European Central Bank (ECB) in June may not necessarily lead to further policy easing, according to Bundesbank President Joachim Nagel, as reported by Reuters.
Nagel made these remarks on (...)
Egypt is implementing a €300,000 rain harvesting project in Wadi Feiran, South Sinai. The project is funded by the Inter-Islamic Network on Water Resources Development and Management (INWRDAM) in partnership with the Swedish International (...)
European stock markets experienced a varied day of trading on Wednesday, with the STOXX 600 index seeing a modest increase of 0.2 per cent, reaching levels not seen in over a week, largely driven by a 2.3 per cent rise in the technology sector, (...)
Egypt plans to establish a sodium cyanide production facility in collaboration with Petrochemical Holding Gmbh and Czech company Draslovka with an initial investment of $160 million, the Egyptian Cabinet announced on Wednesday.
The project aims to (...)
Germany's debt-to-GDP ratio is likely to experience a minor uptick this year, reaching 64 per cent in 2024, up from 63.6 per cent in 2023, Germany's finance ministry announced on Wednesday, according to Reuters.
This increase is attributed to the (...)
Russia is actively working to eliminate international barriers hindering its food and agricultural exports, Deputy Foreign Minister Sergey Vershinin said, as reported by TASS on Wednesday.
He emphasised the ongoing validity of the memorandum between (...)
Developing countries get less than 10 per cent of global climate financing, despite their greater need to address the climate change repercussions, said Egyptian Minister of International Cooperation Rania Al-Mashat during her virtual participation (...)
Turkey's central bank plans to maintain its current policy rate of 50 per cent until the fourth quarter, Reuters reported on Wednesday. The bank had increased the rate by 500 basis points in March, reversing a low-rate policy.
Since June, borrowing (...)
Africa is grappling with multiple crises, including a 183 per cent debt increase since 2010, quadruple the region's growth rate, according to UN Deputy Secretary-General Amina Mohammed, cited by Xinhua on Wednesday.
Speaking at the 10th Africa (...)
The National Bank of Poland (NBP) reported a loss of 20.8 billion zlotys ($5.2 billion) in 2023, a significant increase from the previous year's loss of 16.9 billion zlotys, according to the bank's financial report on Wednesday cited by Reuters.
The (...)
For many years, the world's economy has been driven by fossil fuels such as coal, oil, and natural gas; however, a shift in this story is taking place.
The urgency of climate change and the finite nature of fossil fuels are propelling a historic (...)
The Egyptian Pound (EGP) fluctuated against the US Dollar (USD) in early trading on Tuesday, April 23, 2024, prompting several banks to adjust their buying and selling rates.
The National Bank of Egypt, Banque Misr, Faisal Islamic Bank, and the (...)
Chinese lawmakers received a draft energy law on Tuesday that aims to boost the exploitation and utilisation of energy, according to Xinhua. The Standing Committee of the National People's Congress, China's national legislature, is currently (...)
European stocks reached their highest levels in over a week on Tuesday, driven by a 0.9 per cent surge in healthcare stocks and a 1.8 per cent increase in the technology sector.
This rise was fueled by positive corporate earnings, pushing the (...)
For the first time on record, wind farms have led the UK's electricity generation for two straight quarters, producing 25.3 (terawatt hours) TWh in the first quarter of 2024, outpacing the 23.6 TWh generated by all fossil fuel sources, according to (...)
China's coal consumption, the largest in the world, will decrease by only one-third by 2040, according to a report published on Tuesday by a European consultancy cited by Reuters. This projection poses a threat to climate targets, which advocate for (...)
The Swiss authorities have reported a year-over-year decrease of 1.7 billion Swiss francs in the value of frozen Russian assets, bringing the total down to 5.8 billion Swiss francs (approximately $6.36 billion), the Swiss State Secretariat for (...)
Greece is planning an early repayment of up to €5 billion ($5.34 billion) of bailout loans to eurozone countries this year, two government officials told Reuters on Tuesday.
The country seeks to regain economic stability following a decade-long debt (...)
German Chancellor Olaf Scholz advocated on Tuesday for the completion of a European banking union, emphasising it as a 'priority' and calling for greater consistency in the region's financial markets, according to Reuters.
The banking union, a (...)
The growing trend of deforestation in Liberia, driven by cocoa farmers from neighbouring Ivory Coast, poses a significant threat to European efforts to curb deforestation, Reuters reported on Monday citing a recent study by the Ivorian forest (...)
Interest rate futures were fully factored in on Monday in an initial quarter-point interest rate reduction by the Bank of England (BoE) for August, with expectations of a second cut before the year's end. This marks an earlier commencement of cuts (...)