The transportation sector is responsible for 23 per cent of global energy-related CO2 emissions and 70 per cent of road vehicle emissions, said French Ambassador to Egypt, Eric Chevallier on Wednesday citing a recent report by IPCC.
Ambassador (...)
UBS's CEO announced on Tuesday that the bulk of job reductions in Switzerland, the bank's home market, would commence at the end of the year and extend into 2025 and 2026, according to Reuters.
During a press call, Sergio Ermotti clarified that the (...)
Eurozone retail trade volume saw a significant increase in March 2024 according to Tuesday data by Eurostat, compared to February 2024, the seasonally adjusted retail trade volume rose by 0.8 per cent in the euro area and 1.2 per cent in the (...)
Germany's foreign trade balance showed a surplus of 22.3 billion euros in March 2024, with exports valued at 134.1 billion euros and imports at 111.9 billion euros, the federal statistics office reported on Tuesday.
This marks a recovery from (...)
The Egyptian Pound (EGP) remained stable against the US Dollar (USD) on Tuesday, May 7, 2024.
The National Bank of Egypt, Banque Misr, Banque du Caire, and the Commercial International Bank (CIB) chose to keep their rates unchanged at EGP 47.9 and (...)
UK house prices saw a slight increase of 0.1 per cent in April 2024, marking a 1.1 per cent year-on-year rise, despite high interest rates and following March's annual growth of 0.4 per cent, according to mortgage lender Halifax's data released on (...)
Germany's manufacturing sector experienced a 0.4 per cent month-on-month decrease in real new orders during March, marking a 4.3 per cent drop compared to the previous three months, the Federal Statistical Office (Destatis) reported on (...)
European shares reached their highest point in over a month on Tuesday, buoyed by a wave of positive corporate earnings reports and the optimistic atmosphere surrounding potential interest rate cuts, as reported by Reuters.
The pan-European STOXX (...)
TotalEnergies and China's SINOPEC committed to enhancing their collaboration in the field of low-carbon energy through a strategic cooperation agreement during the Chinese President's state visit to France.
Specifically, TotalEnergies announced in a (...)
Exchange-traded funds (ETFs) associated with clean energy are beginning to outperform those linked to oil and gas exploration, Reuters reported on Tuesday.
Since 2022, most major renewable energy ETFs have seen a value drop of 20 per cent to 70 per (...)
The Russian stock market opened lower on Tuesday on the Moscow Exchange, with the MOEX Index dropping 0.88 per cent to 3,405.82 points and the dollar-denominated RTS Index declining 0.99 per cent to 1,174.43 points, as per TASS citing trading data (...)
The World Bank approved a loan of $138.5 million to Namibia to enhance its transmission network and incorporate renewable energy projects into its grid, the bank announced on Monday.
Namibia, one of the driest countries in Sub-Saharan Africa with (...)
The Bank of Spain is set to increase its 1.9 per cent growth forecast for the Spanish economy in 2024, according to a statement made by Central Bank Governor Pablo Hernandez de Cos on Tuesday, cited by Reuters.
This comes after Spain's GDP grew by (...)
A Moscow court authorised the seizure of a staggering 12.4 million euros ($13.34 million) of assets held in Russia by a European subsidiary of the financial titan JPMorgan and Germany's renowned Commerzbank, Reuters reported on Tuesday.
The court's (...)
Turkey's GDP growth is expected to decelerate from 4.5 per cent in 2023 to 3.4 per cent in 2024 and 3.2 per cent in 2025, according to the Organisation for Economic Co-operation and Development's (OECD) updated Economic Outlook.
The slowdown is (...)
A Russian court overturned the decision to seize a portion of JPMorgan Chase's assets in Russia amidst a legal dispute with VTB, a state-owned Russian bank, as per court documents cited by Reuters on Thursday.
JPMorgan had previously indicated in a (...)
The eurozone is likely to see GDP growth of 0.7 per cent in 2024, and 1.5 per cent in 2025, according to the Organisation for Economic Cooperation and Development's (OECD) latest Economic Outlook released on Thursday.
The recovery is anticipated due (...)
Swiss annual inflation accelerated more than anticipated in April, rising to 1.4 per cent from 1 per cent in March, surpassing the 1.1 per cent forecast by economists, according to Thursday's data from the Federal Statistics Office cited by (...)
Egypt is actively seeking to expand South Korean investments in various sectors alongside current investments, stated Prime Minister Moustafa Madbouly on Thursday.
This came during his meeting with representatives of the top 15 South Korean (...)
The Organisation of Economic Co-operation and Development (OECD) has revised down its growth forecast for the UK economy from 0.7 per cent to 0.4 per cent for this year, with only Germany predicted to perform worse among the G7 economies, according (...)
European shares started on a subdued note as investors on Thursday, returning from a mid-week holiday, grappled with a host of significant earnings and indications from the Federal Reserve of a delay in interest rate cuts.
The pan-European STOXX 600 (...)
Russia's GDP is likely to increase by 2.6 per cent in 2024, according to the Organisation for Economic Co-operation and Development's (OECD) Economic Outlook, May 2024, released on Thursday. The figure is up from its February outlook of 1.8 per (...)
The Egyptian Pound (EGP) underwent variations against the US Dollar (USD) on Wednesday, May 1, 2024, prompting a wave of rate adjustments across various banks.
The National Bank of Egypt and Banque Misr maintained their rates at EGP 47.87 and EGP (...)
Australia has approved on Wednesday six projects to explore the potential of constructing offshore wind farms along its southern coast as part of its commitment to increase renewable energy and achieve net-zero emissions by 2050, according to (...)
Brookfield Asset Management of Canada, with support from tech giant Microsoft, is planning to establish new wind and solar farms, aiming to bring 10.5 gigawatts of power capacity online, The Financial Times reported on Wednesday.
The partnership (...)