Economy

Lower Demand Pushes Global Oil Prices Down

Global oil prices fell on Monday fueled by concerns of rising omicron variant cases worldwide, resulting in lowering oil demand expectations. International benchmark Brent crude was trading at $71.21 per barrel at 0740 GMT for a 3.14% decrease after closing the previous session at $73.52 a barrel. American benchmark West Texas Intermediate (WTI) was at ...

13:45 Et December 20, 2021

Turkey hikes minimum wage by 50% in face of lira crisis

Turkey will hike its minimum wage by a massive 50% to 4,250 lira ($275.44) per month next yearto address a currency crash and inflation spike,President Tayyip Erdogan said ...

11:53 Et December 20, 2021

Chip crisis could burden Volkswagen for longer, report suggests

It's been reported that the shortage of electronic parts could weigh more heavily on carmaker Volkswagen than expected. The specialist German publication Manager Magazin reported on Thursday that ...

19:00 Et December 16, 2021

European Union plans to stop funding new oil and gas pipelines

The European Union plans to stop funding new oil and gas pipelines in future, as it switches the focus to promoting energy sources that are less harmful to ...

15:30 Et December 15, 2021

Global Markets Focus On US Inflation Data

Amid renewed concerns about the omicron variant of COVID-19, global markets on Friday focused on key US inflation data that could set direction on Federal Reserve rates. Analysts ...

12:45 Et December 10, 2021

Italy's competition regulator hits Amazon with 1.1-billion-euro fine

The Italian Competition Authority (AGCM) on Thursday fined Amazon more than a billion euros for abusing its dominant market position in Italy and breaking EU law. Imposing the fine of ...

18:00 Et December 9, 2021

Oil Prices Up From Market Relief Over New Variant Worries

Oil prices increased on Thursday on investor relief following news that the Pfizer-BioNTech vaccine booster is capable of neutralizing the omicron variant. International benchmark Brent crude was trading ...

13:30 Et December 9, 2021

Morocco Takes Part in 26th International Crafts Fair in Milan

Morocco participates in the 26th edition of the International Crafts Fair in Milan, considered as ''the largest'' exhibition of the industry in Europe. The Moroccan stand has seen ...

10:25 Et December 7, 2021

Turkish lira weakens anew towards record low against dollar

The Turkish lira slid 0.7% against the dollar on Monday, weakening once again towards its record lows against the U.S. currency as concerns persisted over the central bank's monetary easing despite inflation above 21%. At 0617 GMT, the lira stood at 13.8500 compared to a close of 13.7485 at Friday's close. It touched an all-time ...

10:25 Et December 6, 2021

OPEC+ oil output decision in the balance as Omicron hammers prices

OPEC and its allies will decide on Thursday whether to release more oil into the market or restrain supply amid big gyrations in crude prices, a U.S. release ...

12:48 Et December 2, 2021
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