The American Petroleum Institute (API) on Tuesday reported a decrease of 5.935 million barrels of crude oil in U.S. inventories for the week ending Nov. 22. Analysts expect a hike of 0.250…
Category: Economics
Trump tariff threat lowers economic growth forecasts for Mexico
Moody’s Analytics on Tuesday lowered its economic growth forecasts for Mexico for 2025 and 2026, in light of U.S. President-elect Donald Trump’s proposed tariffs on Mexican exports. The analytical arm of the…
Raft of issues at Cyprus-Greece-Jordan Tripartite Summit
The 2nd Cyprus-Greece Intergovernmental Summit and the 4th Cyprus-Greece-Jordan Tripartite Summit are taking place today in Nicosia. As part of the Intergovernmental Summit, there will be meetings between President Christodoulidis and the…
Japan’s economy recovering gradually despite areas of stagnation
The Japanese government has maintained its assessment that the country’s economy is recovering gradually despite some areas of stagnation. In its monthly economic report for November, Japan’s Cabinet Office observed mixed trends…
Massive job cuts at Germany’s ThyssenKrupp Steel
Germany’s largest steelmaker, ThyssenKrupp Steel, announced plans on Monday to cut 5,000 jobs by 2030 and an additional 6,000 through transfers to external service providers or the sale of business activities. The…
Algeria projects growth rate of 4.5 percent
FAMAGUSTA GAZETTE Algerian President Abdelmadjid Tebboune has signed the 2025 budget law, projecting an economic growth rate of 4.5 percent, according to a statement from the presidency. The budget is based on…
Russia and Turkey vow expansion of trade ties
FMAMAGUSTA GAZETTE Turkish President Recep Tayyip Erdogan held a phone call on Sunday with his Russian counterpart Vladimir Putin, discussing bilateral relations and regional and global issues, according to Erdogan’s office. During…
Russian farmers face difficult weather conditions, grain exports reduced
FAMAGUSTA GAZETTE Russia is expected to export 55-60 million tons of grain this agricultural season, a drop from 72 million tons last season, Russia’s TASS news agency reported Monday. “The total grain…
Ford has announced that it plans to cut 4,000 jobs in Europe
U.S. automaker Ford has announced that it plans to cut 4,000 jobs in Europe by the end of 2027, in a bid to create a more cost-competitive structure and ensure the long-term…
Greek GPD expected to grow by 2.3 percent next year
The Greek gross domestic product (GPD) is expected to grow by 2.3 percent in 2025, according to the draft budget submitted to parliament . The budget presented by Minister for National Economy…