OPEC+ is expected to agree an increase in oil output of 430,000 barrels per day in July. Bloomberg reported this, citing members of delegations attending the upcoming OPEC+ summit. Officials say global oil supply and demand are stable, and there have been no severe interruptions in supplies so far, so the oil alliance doesn't need to take any immediate action. The next OPEC+ meeting is scheduled...

In May, Germany's inflation rate was 7.9%, a high not seen since the 1970s, when prices soared in the aftermath of the oil crisis. According to early estimates by the country's Federal Statistical Office (Destatis), inflation in Germany surged in May to an all-time high of 7.9% on an annualized basis. This is the highest rate in 50 years. Consumer prices in the country increased 7.4% in April....

According to the Financial Times, the G7 energy ministers have asked OPEC to increase oil production, citing the communiqué from the group's meeting in Germany. The ministers highlighted that Russia's aggression in Ukraine had caused a jump in oil, gas, and coal prices, putting considerable strain on low-income individuals and businesses. Earlier this month, G7 leaders said they were ready to...

Moody's has dropped its projection for world GDP growth in 2022 to 3.1 percent from 3.6 percent in March. "Due to a variety of negative variables, we have decreased our global growth predictions and upped our inflation forecasts for 2022 and 2023. Continued supply-side shocks (which are heating up prices and eroding purchasing power) and a worldwide shift toward tighter monetary policy are the...

According to a Janus Henderson Group analysis, companies throughout the world paid $302.5 billion in dividends to their shareholders in the first quarter of this year. This is a gain of 11% from the start of 2021 and a new high for the time. Eighty-one percent of corporations that paid dividends in the first quarter increased them, while thirteen percent maintained the same level. Across all...

Shares of social media companies could lose more than $100 billion in market value due to a challenging position in the business, which includes sluggish user growth and fears about interest rate hikes, reports Bloomberg. Snap (which owns the social network Snapchat) has already dropped 30% after the firm warned that it would miss its revenue and profit projections for the current quarter. Snap's...

According to the World Trade Organization's Commodity Trade Barometer, events in Ukraine and a coronavirus outbreak in China slowed global trade growth in the first half of this year. The world trade index, according to WTO analysts, is now at 99.0 points, with a baseline value of 100. This is slightly higher than the index of 98.7 in February. "In the first half of 2022, the crisis in Ukraine...

The Indian Foreign Ministry has announced that the government has struck an agreement with the United States to promote investment. An agreement to stimulate investment has been inked between India and the United States. The Indian Foreign Ministry's spokesman, Arindam Bagchi, made the announcement. Bagchi posted on Twitter, "India's Deputy Foreign Minister Vinay Kwatra and US International...

According to Bloomberg researchers, China's economic growth may lag behind the United States for the first time since 1976 as a result of the coronavirus quarantine. China's GDP will expand by at least 2%, according to the agency. The economy of the United States is predicted to expand by at least 2.8 percent this year. According to the Chinese government's official forecast, the country's GDP...