Browsing: Business

The EU forecasts modest GDP growth of 0.9% in 2024, with inflation falling sharply and economic stability gradually returning after prolonged stagnation and global economic shocks.

Structural and cyclical economic challenges weigh on Germany, with downgraded growth forecasts, inflation concerns, and political uncertainty following the coalition government’s recent collapse.

India and Russia are advancing on a $100 billion trade target, with progress in currency settlements, banking, and balanced trade amid sector diversification and longstanding economic ties.

Russia’s gold holdings hit a record $207.7 billion in October, with gold now making up 32.9% of international reserves, reflecting a shift in strategy by the Bank of Russia.

IATA reports global air cargo demand grew 9.4% in September 2024, continuing a robust trend of 14 consecutive months of growth, driven by high international operations.

The IMF forecasts Austria’s economy to rebound with a projected 1.1% growth in 2025 following a contraction of 0.6% this year, aligning with Austrian economic institutions’ cautious optimism.

Eurozone’s inflation at 2% raises caution around ECB rate cuts, ING’s Pesole notes EUR looks expensive as markets weigh wide rate gap between ECB and U.S. Fed.

UNCTAD’s report reveals global growth will stagnate at 2.7% in 2024-2025, posing risks to development and climate goals while impacting the Global South’s debt levels and overall economic resilience.

The UAE is projected to see GDP growth of 3.3% in 2024 and 4.1% in 2025, driven by a robust non-oil sector, according to the World Bank’s latest MENA Economic Update released today.

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.