Economy News

Economy

EU Unveils Bold Strategy to Eliminate Russian Gas Dependency by 2027 Amid Energy Security Concerns

The European Commission announces a plan to end reliance on Russian gas by 2027, focusing on transparency and monitoring to halt imports, addressing the 'shadow fleet' for oil, and...

Economy

Historic UK-India Free Trade Deal to Benefit 99% of Indian Exports, Boosting Key Sectors

India's Trade Ministry announces a historic free trade agreement with the UK, offering zero-duty access for 99% of Indian exports to the British market, benefiting sectors like tex...

Economy

EU Unveils Bold Zero-Tariff Proposal to Strengthen US Trade Relations Amid Rising Tensions

The EU has proposed a zero-tariff deal with the US to eliminate duties on industrial goods, aiming to strengthen trade relations and supply chain resilience amid growing tensions. ...

Economy

April Sees a Sharp Decline in German Business Activity: Services Sector Contracts

In April, Germany's services sector contracted, with the PMI Business Activity Index falling below the 50.0 threshold for the first time since November, indicating a 14-month low. ...

Economy

Eurozone's Economic Momentum Cools in April: Services Sector Stagnates Amid Manufacturing Uptick

The Eurozone's private sector activity growth slowed in April, with the composite PMI dropping to 50.4 and services PMI to 50.1. Despite a surprising uptick in manufacturing, the o...

Economy

Swiss National Bank on High Alert: Ready to Intervene as Franc Strengthens

Swiss National Bank Chairman Martin Schlegel reaffirms the central bank's readiness to intervene in the foreign exchange market to counter the Swiss franc's appreciation, aiming to...

Economy

UK Service Sector Faces Sharp Slowdown in April Amid Global Economic Uncertainties

The UK service sector contracted for the first time in 18 months in April, with the PMI falling to 49.0. Declines in new business and employment, alongside weak export conditions, ...

Economy

Eurozone and EU Witness a Significant 1.6% Drop in Producer Prices in March

The producer price index in the Eurozone and EU fell by 1.6% in March, with energy prices seeing the largest drop. Annual increases were noted at 1.9% and 2.1% respectively.