Economy News

Economy

US Crude Oil Inventories Drop Sharply: A 3.9M Barrel Decrease Signals Market Shifts

The EIA reports a 3.9 million barrel decrease in US crude oil inventories, now 8% below the five-year average. Refinery operations slightly declined, but gasoline production and cr...

Economy

EU Pledges Massive €100 Billion Support Package to Boost Ukraine's Recovery and EU Membership Path

The European Union has announced a €100 billion budget to support Ukraine's recovery and its path to EU membership, alongside a new "Global Europe" fund for all candidate countries...

Economy

EU Announces Major Budget Increase for Migration and Border Management to Strengthen Shared Responsibilities

The European Union has announced a tripling of its budget for migration and border management, underscoring a shared responsibility among member states. This includes a significant...

Economy

EU Announces Massive €131 Billion Defense and Space Budget Boost for 2028-2034

The EU plans a significant €131 billion investment in defense and space for 2028-2034, reflecting security as a top priority. Additionally, the bloc aims to boost research, digital...

Economy

EU Unveils €400 Billion Crisis Fund in Historic €2 Trillion Budget Proposal for 2028-2034

The European Commission announces a €400 billion crisis fund within a €2 trillion budget for 2028-2034, marking a significant step towards crisis preparedness and financial resilie...

Economy

June Sees 183,000 New Jobs: A Mixed Bag of Growth and Challenges in Youth and Manufacturing

June 2025 saw a rise of 183,000 employed individuals, marking six months of growth. However, youth employment and manufacturing sectors struggled, highlighting a mixed employment l...

Economy

Trump Announces Imminent Pharmaceutical Tariffs, Signals Semiconductor Duties to Follow

President Trump announces plans to impose tariffs on foreign pharmaceuticals and semiconductors, starting with low rates to encourage U.S. production, followed by significant incre...

Economy

Vietnam Aims for a Whopping $4.5 Billion in Cashew Exports by 2025 Amid Global Market Growth

Vietnam's cashew exports saw a 20.4% increase in value in the first half of 2025, despite a slight volume drop. With China, the U.S., and the Netherlands as top buyers, Vietnam is ...