Browsing: Economy

The European Central Bank is expected to stand pat Thursday and call for patience in the ongoing battle against inflation, pushing back against market hopes of rapid interest rate cuts.

Russia’s exports of dairy products increased by 18% year-on-year in 2023, the head of the National Union of Dairy Producers, Artyom Belov, said on Monday, as cited by TASS.

The country’s labor unions are unhappy with the new president’s austerity measures

High energy prices are dampening production and hurting the region’s competitiveness, data shows

A large fire at a terminal on the Baltic Sea operated by Russian natural gas producer Novatek was caused by an “external impact,” the company has revealed. 

Lithuanian Economy Minister Ausrine Armonaite has issued a call for citizens to finance the country’s defense industry, telling them to “invest in tanks” rather than keep hold of their savings.

The number of bookings made by Russians for the popular Egyptian tourist destinations of Cairo and Sharm el-Sheikh in January has seen a year-on-year decline of 14%, Russian business daily Kommersant reported earlier this week, citing calculations by travel website Ostrovok.ru.

The ongoing disruption to shipping in the Red Sea is more damaging to global supply chains than the impact of the Covid-19 pandemic, according to data from maritime advisory firm Sea-Intelligence. 

The discovery could help fulfill the Southeast Asian country’s goal of becoming a regional hub for electric-vehicle production

Russia’s electric power usage rose 1.4% in 2023 compared to the previous year, exceeding 1.121 trillion kilowatt hours, according to the latest data released by the Russian Power System Operator.