European Gas Prices Surge Amid Middle East Tensions
The European gas price continued its ascent on Tuesday, fueled by unrest in the Middle East. Last week, oil prices surged due to the looming threat of an Iranian retaliatory strike against Israel. The price on the gas market rose nearly 3 percent on Tuesday morning to 32 euros per megawatt-hour, marking the highest level […]
Chinese Economy Shows Stronger-Than-Expected Growth in First Quarter of 2024
The Chinese economy experienced a stronger growth than anticipated in the first three months of 2024, bringing relief to the nation grappling with a real estate crisis, escalating debts of local governments, and sluggish consumer spending. According to the Chinese National Bureau of Statistics, the Chinese economy expanded by 5.3 percent year-on-year in the first […]
Samsung Regains Top Spot in Smartphone Market
Apple failed to surpass Samsung as the largest smartphone brand in the first three months of 2024, according to figures from market researcher IDC. After years of a close race, Apple managed to surpass Samsung as the largest smartphone brand last year. The American manufacturer delivered slightly more smartphones than its South Korean competitor in […]
Impact of Iran’s Response on Israeli Economy
Iran’s Response action on Sunday led to a minor loss on the Tel Aviv Stock Exchange. The Israeli economy has been significantly affected by the turmoil in the Middle East and the ongoing conflict with Hamas. The primary index, TA-35, tracking the 35 largest companies on the Tel Aviv stock market, was slightly lower on […]
German Automakers Oppose Potential European Import Tariffs on Electric Cars from China
The German Association of the Automotive Industry (VDA) is pushing back against potential European import tariffs on electric cars from China, fearing the repercussions of sparking a trade war with the Asian nation. VDA President Hildegard Müller expressed concerns in an interview with Die Welt, emphasizing that additional tariffs may not resolve issues for the […]
US and UK Impose New Trade Sanctions on Russian Metal Exports
In a bid to tighten the economic noose around Russia amid the ongoing conflict in Ukraine, the United States and the United Kingdom have introduced stringent measures targeting Russian metal exports. Effective immediately, significant restrictions have been placed on the trading of aluminum, copper, and nickel produced in Russia, impacting the operations of the world’s […]
Lufthansa Cabin Crew Secure New Collective Agreement with Significant Pay Increase
After months of negotiations, approximately nineteen thousand cabin crew members of Lufthansa have secured a new collective bargaining agreement. They will receive a 16.5% wage increase along with a one-time payment of €3,000. The employees went on strike last month, leading to the cancellation of hundreds of flights and leaving thousands of passengers stranded. “We […]
European Central Bank Holds Interest Rates Steady, Hints at Future Reduction
The European Central Bank (ECB) is maintaining its interest rates at a record high of 4 percent for now. According to the regulator, inflation hasn’t fallen enough. However, the ECB does suggest that its rates could decrease in the near future. This marks the fifth consecutive time that the financial regulator has left the interest […]
EU Agrees to Restrict Import of Ukrainian Agricultural Products
The European Union has reached an agreement to curb the import of Ukrainian agricultural products. Governments of EU countries and the European Parliament reached a provisional deal on Monday, pending approval from the parliament. Following the Russian invasion, the EU had granted tariff-free export for agricultural powerhouse Ukraine to assist the country in generating additional […]
Electra Plans Expansion of Electric Vehicle Charging Infrastructure
Electra, a leading provider of charging infrastructure, has announced its intentions to deploy one hundred charging stations and six hundred charging points for electric vehicles in the near future. The company is set to open its inaugural charging station this year, marking its entry into the competitive landscape alongside the rapidly expanding Fastned. Electra aims […]