The volume of global crude exports in 2024 declined 2%, the first fall since the COVID-19 pandemic, shipping data showed, due to weak demand growth and as refinery and pipeline changes reshuffled trade routes. Global crude flows have been roiled for a second year by war in Ukraine and the Middle East, with tanker shipments […]
Oil prices fell on Tuesday as investors assessed U.S. President Donald Trump’s plans to apply new tariffs later than expected while boosting oil and gas production in the United States. Brent crude futures were down $1.42, or 1.77%, to $78.73 per barrel at 1116 GMT. U.S. West Texas Intermediate crude futures were down by $1.97, […]
When external shocks occur, fixed exchange rate regimes are usually considered less effective than floating regimes. This column analyses the role of labour market flexibility in the relationship between exchange rate regimes and growth during crises. It demonstrates that fixers can match or even outperform floaters during global recoveries if they have flexible labour market […]
India’s rapid economic growth in recent decades has been accompanied by a shift from agriculture to services. While this structural transformation has driven significant improvements in GDP, it has not translated into more jobs – particularly for women. Despite advancements in education, poverty reduction, and healthcare, the female labour force participation rate in India has […]
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Donald Trump’s newly-created cryptocurrency soared on Monday to nearly $12 billion in market value, drawing in billions in trading volume, while bitcoin hit a record high just hours ahead of the U.S. President-elect’s return to the White House. Launched on Friday, Trump’s meme coin, also known as $TRUMP, surged to $58.56 at 0820 GMT on […]
Donald Trump will be sworn in as U.S. president on Monday, ushering in another turbulent four-year term with promises to push the limits of executive power, deport millions of immigrants, secure retribution against his political enemies and transform the role of the U.S. on the world stage. Trump’s inauguration completes a triumphant comeback for a political disruptor who […]
At around 1 percent of GDP – a level unchanged since the 1980s – the EU budget pales in comparison to the United States federal budget (around 22.5 percent of GDP in 2023) and the national public spending of EU countries (almost 50 percent of GDP in 2022). In the EU, of course, spending responsibilities […]
A major task for the 2024-2029 European Commission will be to reconcile and simplify the European Union’s range of data-market laws into a more coherent framework. At the heart of the approach should be the non-rival nature of data, meaning it can be used by many parties for many purposes at the same time. That […]
U.S. clean energy tax subsidies under President Joe Biden’s signature Inflation Reduction Act will boost U.S. budget deficits by $825 billion over the next 10 years, Congressional Budget Office director Philip Swagel said on Friday, far above the initial $270 billion 10-year estimate. Swagel told reporters that higher cost estimates are due in part to […]
