Browsing: Business
Russia’s GDP grew by 4.2% in the first eight months of 2024, driven by expanding international trade and stronger economic partnerships with ‘friendly’ nations.
OPEC has revised its 2024 global oil demand growth forecast down by 106,000 barrels per day, citing weaker-than-expected demand in non-OECD regions, impacting overall oil demand.
South Korea’s ICT exports surged for the 11th month, reaching $22.4 billion in September, driven by semiconductor sales and strong demand for AI technology. ICT trade surplus hit $9.88 billion.
WTO forecasts global merchandise trade growth of 2.7% in 2024 and 3.0% in 2025, citing easing inflation, declining interest rates, and risks from geopolitical tensions.
The IMF has reduced member borrowing costs by 36%, cutting annual surcharges by $1.2 billion. Five countries, including Argentina and Egypt, will benefit from the new policy starting November 1.
Vietnam’s food and beverage sector is expected to reach $29.8 billion in revenue by 2024, with a 10.92% growth, driven by increasing consumer confidence and rising demand for sustainable products.
The EU imported €478 billion in high-tech products in 2023, with China and the US leading the list of suppliers. Exports grew by 3 percent, reaching €461 billion.
The Global Commission on Clean Energy, led by IEA, met at the G20 to discuss equitable, affordable transitions in energy, addressing key issues for fairer global policies.
ADQ appoints Modon Holding as master developer for the Ras El Hekma megaproject in Egypt. The project spans 170 million sqm and is expected to create 750,000 jobs by 2045.
The US economy added 254,000 jobs in September, beating projections of 140,000. The unemployment rate dipped to 4.1%, showing continued strength in the labor market.