Global Economy Archives — City Business News

October 22, 2024 No Responses

Nigeria Seeks Election Into IMO Council

The Minister of Marine and Blue Economy, Adegboyega Oyetola has expressed Nigeria’s interest to seek election into Category “C” of the International Maritime Organization (IMO) Council.The Minister, speaking at the 2024 World Maritime Day parallel event in Barcelona, Spain, noted...

January 10, 2024 No Responses

Global Economy Set For Weakest Growth Since Pandemic, Warns World Bank

The global economy is set to grow at its slowest pace since the pandemic, the World Bank has warned. It has forecast growth of just 2.4% in 2024 and stated higher interest rates were a major factor. Global trade and...

October 9, 2023 No Responses

Oil Prices Rally On Supply Disruption Fears

Oil prices jumped by 4% on Monday on concerns that the situation in Israel and Gaza could disrupt output from the Middle East. BBC report that West Texas Intermediate (WTI), the benchmark for US oil, rose to more than $86...

August 21, 2023 No Responses

Oil Prices Up As Global Supply Drop

Oil prices rose on Monday as global supply is tightening with lower exports from Saudi Arabia and Russia, offsetting nagging concerns about global demand growth amid high-interest rates. Reuter report that Brent crude climbed 75 cents to $85.55 a barrel...

August 14, 2023 No Responses

Oil Prices Drop Amid Concerns Over China’s Economy

Oil prices eased on Monday as concerns about China’s faltering economic recovery and a stronger dollar weighed against seven weeks of gains on tightening supply from OPEC+ output cuts. Reuters report that Brent crude futures fell 73 cents, or 0.84%,...

November 23, 2022 No Responses

Report: UK Faces Worst Downturn Of Any Advanced Economy

(BBC) The UK economy will suffer a bigger blow from the global energy crisis than other leading nations, according to international body the Organisation for Economic Cooperation and Development. The UK will contract by more than any other nation in...

November 2, 2022 No Responses

World`s Ten Most Indebted Countries

Covid-19 has pushed many states’ debts above annual income, causing the global government debt to reach new record highs. According to the S&P Global Ratings report, the combined debt of all governments worldwide is expected to climb by 9.5% ...

July 17, 2022 No Responses

World Bank deploys $114.9b To Finance Global Crisis

The World Bank Group has responded to the overlapping global crises by deploying $114.9 billion in financing in 2022. In a statement on Saturday, the Bank explained that from July 1, 2021, to June 30, 2022, it responded with unprecedented scale...

May 11, 2022 No Responses

Oil Tumbles On Global Economic Worries

Oil prices tumbling more than 1% on Tuesday, extending the previous day’s steep declines as coronavirus lockdowns in top oil importer China, a strong dollar and growing recession risks fed worries about the outlook for global demand. Reu...

July 2, 2021 No Responses

130 Countries Back Global Tax Overhaul

Officials from 130 countries have agreed to overhaul the global tax system to ensure big companies “pay a fair share” wherever they operate. The Organisation for Economic Co-operation and Development (OECD) said on Thursday that negotiators had bac...

February 27, 2021 No Responses

World Trade Bounces Back To Pre-Coronavirus Levels

International trade recovered at the end of 2020 to pre-coronavirus levels, making up for the sharp hit from the COVID-19 pandemic in the first half of the year, Dutch economic policy adviser CPB said on Thursday.World trade increased 4% on...

November 20, 2020 No Responses

IMF: Global Economy ‘Losing Momentum’

The global economic recovery may be losing momentum as coronavirus infections surge again, the International Monetary Fund has warned. Fund chief Kristalina Georgieva said more economic help is needed, and warned countries against withdrawing aid too soon. Rec...