Browsing: Business
Korea recorded its sixth monthly current account surplus in October, driven by strong semiconductor and car exports, with a $9.78 billion surplus, according to the Bank of Korea data.
The EU Commission commits €4.6 billion for cleantech projects, focusing on renewable hydrogen and EV batteries through the Innovation Fund, using revenues from its Emissions Trading System.
Adnoc Gas has awarded Worley the FEED contract for Bab Gas Cap facilities, aiming to increase UAE’s gas processing capacity by 20% and drive progress towards gas self-sufficiency.
Masdar acquires 70% of TERNA ENERGY in a €3.2 billion deal, the largest on the Athens Stock Exchange, boosting Europe’s clean energy leadership.
Wage inequality has declined in two-thirds of nations since 2000, with significant progress in low-income countries, but high disparities and uneven regional wage growth persist, according to the ILO report.
U.S. Treasury yields dropped as markets await key inflation data from the Fed. PCE inflation is expected to guide future monetary policy and determine December rate cuts.
The UAE’s non-oil economy is forecast to grow 4.7% in 2024, driven by tourism, real estate, and infrastructure projects, alongside robust foreign investments and diversification efforts.
U.S. businesses are stockpiling Chinese imports as President-elect Trump plans a 60% tariff, fueling inflation fears and supply chain concerns. Economists urge domestic investment.
Boeing announces layoffs for 438 employees amid financial challenges, citing overstaffing. The move is part of a broader 10% workforce reduction plan impacting 17,000 positions.
Korean domestic firms see first sales decline in four years, impacted by weak consumer spending and sluggish investment, raising concerns about the country’s economic recovery.