Browsing: Business

The Federal Reserve is likely to cut rates again next week, marking the third reduction since September, potentially easing financial pressure on borrowers while savings account yields remain competitive.

Business confidence among Japan’s manufacturers improved to 14 in December, surpassing market forecasts, while nonmanufacturers’ sentiment declined slightly, highlighting mixed economic signals.

Global trade will hit $33 trillion in 2024, driven by services sector growth, while goods trade lags behind, UNCTAD reports. Opportunities exist for diversification despite challenges.

The EU spent €381.4 billion on R&D in 2023, up 6.7% from 2022, maintaining an R&D intensity of 2.2%, with the business sector leading investment at 66% of total funding.

The ADB lowered South Korea’s 2025 growth forecast to 2%, citing a semiconductor slump despite rate cuts and policies. The projection aligns with IMF and OECD estimates.

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.