Saudi Aramco, the world’s richest oil company, will more than double its venture capital fund.
Tag: Global Economy
Post
TOP TREND 2024, EV GO FU: EV SALES TANK IN EUROPE
In December, electric vehicle (EV) sales in Germany plummeted by half, year on year. The plunge led EVs’ Europe-wide sales to shrink for the first time since 2020.
Post
GERMANY’S ECONOMY SHRANK BY 0.3 PERCENT IN 2023
Germany—battered by high interest rates, slowing global sales and continued high energy costs—Europe’s largest economy and the fourth largest one in the world... saw the heart of its manufacturing industry contract by 0.3 percent in 2023, according to the country’s National Statistics Office.
Post
DEBT BOMB READY TO EXPLODE
“We have a huge fiscal problem everywhere,” Tim Adams, CEO of the International Institute for Finance (IIF), said in a CNBC interview at the World Economic Forum earlier this month.
Post
GOING OUT OF BUSINESS TRENDS
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community. Some of the most significant challenges include soaring inflation rates, escalating interest rates, looming fears of a recession, and a tangible decrease in revenues for many sectors…
Post
WHEN THE ECONOMY FALLS JOBS GO WITH IT
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
Post
GLOBAL CORPORATE DEFAULTS SPIKE FIVEFOLD
Last November, four corporations monitored by Moody’s Analytics defaulted on their debts. That number jumped to 20 in December, a fivefold increase.
Post
BURBERRY CUTS 2O24 GUIDANCE
The British firm Burberry became the latest purveyor of luxury goods to cut its 2024 outlook. It did so after a disappointing holiday sales season.
Post
SAUDI ARABIA CUTS OIL PRICES FOR FEBRUARY
Saudi Arabia has cut its oil price for February, a month traditionally slow in demand, as the world enters a supply glut due to strong production in the U.S. and a worldwide economic slowdown.
Post
ARGENTINA’S INFLATION PASSES 211 PERCENT AS MILEI ENACTS TOUGH MEASURES
Argentina’s 2023 inflation rate was 211.4 percent, Bloomberg reported, beating Venezuela’s 193 percent for the year’s worst price spike.