Economy News

Economy

OPEC+ Announces Significant Oil Production Increase of 548,000 bpd Starting September

OPEC+ has agreed to increase oil production by 548,000 bpd from September, aiming to adjust global supply and ensure market stability. The decision reflects the group's adaptive st...

Economy

Korea and U.S. Unite for $150 Billion MASGA Project to Revolutionize Shipbuilding Industry

Korea and the U.S. have agreed on a $150 billion shipbuilding cooperation fund, forming a task force to ensure the success of the MASGA project. This initiative aims to strengthen ...

Economy

The Digital Divide: How Vietnam's E-commerce Surge is Squeezing Out Small Vendors

Vietnam's e-commerce market is booming, but small vendors are struggling to keep up due to fierce competition, high marketing costs, and rising platform fees. While the market cont...

Economy

Fed's Williams Highlights Strong Labor Market and Anchored Inflation Expectations Amid Cooling Signs

Federal Reserve Bank of New York President John Williams discusses the resilience of the US labor market and steady inflation expectations, despite signs of cooling and tariff-rela...

Economy

Fed's Kashkari Emphasizes Data-Driven Policy Amid Political Uncertainties

Federal Reserve Bank of Minneapolis President Neel Kashkari discusses the Fed's data-driven approach amid political changes, emphasizing the importance of reliable economic data ov...

Economy

Chile Suspends Operations at El Teniente, the World's Largest Underground Copper Mine, After Deadly Collapse

Chile has temporarily shut down El Teniente, the world's largest underground copper mine, after a deadly collapse caused by a magnitude 4.2 earthquake. The incident has resulted in...

Economy

European Banks Show Unwavering Strength in Latest EBA Stress Test Amid Economic Uncertainties

The European Banking Authority's latest stress test reveals the resilience of 64 European banks under severe economic conditions, with strong income generation helping to mitigate ...

Economy

Weekly Oil Rig Count Drops: US Sees Decline as Baker Hughes Reports Significant Annual Decrease

The latest Baker Hughes report shows a weekly decrease in the US oil rig count to 410, with a significant annual drop. Gas rigs, however, increased. Canada's rig count also decline...