Economy News

Economy

Larry Fink of BlackRock Highlights Impending Insurance Crisis Post LA Wildfires

BlackRock's CEO Larry Fink warns of a looming insurance crisis in the U.S. following the LA fires, which have caused significant damage and loss. Amidst this, BlackRock reports a 2...

Economy

OPEC Optimistic: Global GDP Growth to Hit 3.1% by 2025 Amid Economic Shifts

OPEC forecasts global GDP growth to reach 3.1% by 2025, with significant contributions from the US, India, and China. Economic expansion is contingent on falling inflation and caut...

Economy

OPEC Maintains Steady Oil Demand Outlook for 2025 Amid Global Economic Shifts

OPEC maintains its global oil demand growth forecast for 2025 at 1.4 million barrels per day, driven by strong air travel, road mobility, and industrial activities in non-OECD coun...

Economy

Italy's Public Debt Hits Record High of €3 Trillion: A Deep Dive into the Numbers

Italy's public debt has reached a record high of €3.0052 trillion in November, as reported by the country's central bank. The increase is largely due to the accumulation of Treasur...

Economy

US Mortgage Applications Surge by 33.3%: A Sign of Economic Revival?

Mortgage applications in the U.S. have surged by 33.3%, with the average interest rate for 30-year fixed-rate mortgages rising to 7.09%. This significant increase, reported by the ...

Economy

Janet Yellen Praises Biden's Economic Policies for Steering the US Economy on a Strong Path

US Treasury Secretary Janet Yellen praises President Biden's economic policies for setting the US economy on a strong path, highlighting the American Rescue Plan's role in mitigati...

Economy

Eurozone's Industrial Sector Sees a Slight Uplift in November Amid Yearly Decline

Eurozone's industrial production saw a 0.2% increase in November, with durable consumer goods leading the growth. However, the sector faced a 1.9% decline compared to the previous ...

Economy

Rachel Reeves Urges Further Action to Alleviate Cost of Living Pressures Amid Inflation Dip

British Chancellor Rachel Reeves calls for more efforts to help families with the cost of living after a slight drop in inflation to 2.5% in December, with economic growth remainin...