Tag: Economics
Estimated reading time: 3 minutes Remittances to countries with low and middle incomes experienced a growth of 3.8% in 2023, showing a slowdown compared to the substantial increases of the preceding two years. The World Bank’s latest Migration and Development Brief, released on Monday, highlights concerns over a potential drop in real income for migrants […]
Estimated reading time: 2 minutes Despite expectations for a slight increase in the trade deficit, it narrowed to $63.2 billion, a decrease from the revised figure of $64.5 billion in October, according to the United States Commerce Department. Sustained consumer spending has buoyed United States trade, though there were predictions for higher interest rates to […]
Global economic prospects remain tempered and are surrounded by uncertainty, as highlighted in the newest Chief Economists Outlook released today during the start of Davos. The global economy is still contending with challenges stemming from stringent financial conditions, geopolitical tensions, and the swift evolution of generative artificial intelligence (AI). Over half of the chief economists […]
Estimated reading time: 0 minutes A prolonged drought beginning last year has led to a 36% reduction in ship crossings at the Panama Canal, a crucial global trade passage. Panama’s authorities announced on Wednesday that the new restrictions are likely to have a more substantial economic impact than initially anticipated. According to Panama Canal Administrator […]
Singapore has formally approved the United Kingdom’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), marking it as the second current member to endorse the UK’s membership following Japan’s approval last year. The UK became a part of the extensive Indo-Pacific trade group in July 2023, enhancing the group’s total value to […]
Estimated reading time: 2 minutes The United States began the process of reinstating sanctions on Venezuela on Monday, following a statement from a source within the Biden administration indicating the potential cessation of eased restrictions on the oil sector. This is in light of the Venezuelan Supreme Court’s decision to uphold a prohibition against the […]
Estimated reading time: 4 minutes Allianz Trade has launched its inaugural Country Risk Atlas, detailing insights into country risk. This comprehensive guide utilises a unique risk assessment model, refreshed quarterly to incorporate the latest economic trends and exclusive data on worldwide insolvencies and business climates. The global economy demonstrated its robustness throughout 2023, despite numerous […]
The United Kingdom might face a minor shortage of one of the nation’s most popular products. Some tea varieties will face delays and shortages following the continued supply disruptions due to maritime disturbances in the Red Sea. The British Retail Consortium has reported “temporary disruption” in some varieties of black tea, and a source within […]
Estimated reading time: 3 minutes US President Joe Biden announced a series of tariff increases on various Chinese imports, including electric vehicles, computer chips, and medical products. This move risks an election-year standoff with Beijing as Biden aims to appeal to voters critical of his economic policies. Biden will maintain tariffs introduced by his Republican […]
Estimated reading time: 3 minutes The European factoring industry saw a continuation of growth in 2023, albeit at a reduced pace compared to prior years. The industry’s total turnover reached €2.044 trillion, marking a 2.1% increase from the previous year. This represents one of the lowest growth rates recorded by the EUF since it began […]
