Markets & Industries
ECB downgrades its estimate for eurozone GDP growth, raises inflation forecast - 03/20/2026
According to the European Central Bank's updated projection, the eurozone economy is set to expand by 0.9% in 2026, 1.3% in 2027, and 1.4% in 2028. In December, the ECB projected growth rates of 1.2%, 1.4%, and 1.4% respectively. Consumer prices are projected to rise by 2.6% in 2026, a revision from the earlier estimate of 1.9%. The projection for 2027 was adjusted downward to 2% from 1.8%, and...
Moody's believes recession is once again a serious threat to the US economy - 03/18/2026
According to Mark Zandi, the chief economist at Moody's, a global credit rating agency, the US economy will find it difficult to prevent a recession if oil prices stay high for just a few more weeks. He wrote on social media that "a recession is once again a major concern." The US economic outlook will keep getting worse as long as the Strait of Hormuz stays closed to oil tankers, even though...
World's largest aluminum smelter starts cutting production - 03/16/2026
According to Bloomberg, the Bahrain-based company Aluminum Bahrain BSC, also known as Alba, has started a gradual decrease in production at the largest aluminum smelting plant in the world. The company has started the process of closing three production lines, which collectively represent 19% of its total annual production capacity of 1.6 million tons. The company stated that the suspension will...
Leading German research institutes lower their GDP growth forecasts for 2026 - 03/13/2026
Major German economic research organizations have revised their predictions for GDP growth in 2026, pointing to the adverse effects caused by increasing energy costs linked to the conflict in the Middle East. New predictions from the Munich Institute for Economic Research (Ifo) and the Kiel Institute for the World Economy suggest that German GDP is expected to grow by 0.8% this year. Before, both...
Volume of hydrocarbons on tankers in the Persian Gulf grows to 24.2 million tons - 03/11/2026
The amount of hydrocarbons on tankers in the Persian Gulf rose by 1.5 million tons in the last 24 hours, totaling 24.2 million tons. Out of this total, 18.7 million tons were oil, 3.3 million tons were light petroleum products, 1.2 million tons were heavy petroleum products, and 1 million tons were LNG, as indicated by a monitoring report from Euler Analytical Technologies JSC using ship tracking...
ECB intends to prevent a new inflation shock in the Eurozone - 03/11/2026
ECB President Christine Lagarde stated that the European Central Bank (ECB) aims to stop military actions in the Middle East from causing an inflation shock in the eurozone like the one that occurred at the start of the Russia-Ukraine conflict. "We currently find ourselves in a different economic context, which is improved, and we possess enhanced resilience to manage shocks," Lagarde stated in...
Macron: G7 countries are leaning toward using strategic oil reserves - 03/10/2026
French President Emmanuel Macron mentioned that the G7 nations are slowly starting to back the idea of using oil from their strategic reserves, in response to the current circumstances in the Middle East. The G7 countries do indeed maintain strategic reserves. French media reported that Macron stated the measures are specifically meant for this purpose: to address situations during periods of...
Broadcom: AI chip sales to exceed $100 billion in 2027 - 03/06/2026
Hock Tan, CEO of the American high-tech company Broadcom, thinks his company might make more than $100 billion in revenue from selling AI chips by 2027. The executive made this statement following the release of the company's financial results for the first quarter of the fiscal year 2026, which concluded on February 1. In the last quarter, Broadcom's revenue from AI products more than...
Venezuela to sell up to a ton of gold to the US - 03/05/2026
According to Axios, citing sources, Venezuela's state-owned gold mining company, Minerven, has entered into a significant agreement to sell gold to the United States. One source states that as part of the agreement, Minerven is anticipated to deliver between 650 and 1,000 kilograms of Dore gold bars to the commodity trading company Trafigura. The sources mentioned that Trafigura will provide...
IDC forecasts global smartphone shipments to fall 13% in 2026 - 03/03/2026
International Data Corporation (IDC) forecasts that the worldwide shipment of smartphones will decrease by 12.9% in 2026, reaching a total of 1.1 billion units. If these expectations are met, sales volumes will reach their lowest level in over ten years. This is because of the worsening shortage of memory chips, as stated in the research company's report. Francisco Jeronimo, who...
