Demand for gas will be growing by 1.6% per year in the next five years, faster than other hydrocarbons. The production will be growing at the same rate, according to the International Energy Agency (IEA)’s new forecast. China's growing demand, which will account for 40% of the overall global growth, will be balanced by increased production in the US, which provides a 40% expansion of the supply....

This year, import of iron ore to China is likely to significantly exceed 1 billion tons, beating the record in 2016. The data for the first half showed another surge in freight traffic and underscored capability of the largest steel producer to absorb growing marine supplies, Bloomberg reported. According to customs, the volume of supplies in June amounted to 94.7 million tons, compared with 91.5...

European Union countries outlined a plan of action to deal with problem loans. The European Banking Authority will receive more rights to supervise financial institutions. In addition, European banks will be regulated by new rules. The EU states want to reduce the volume of problem loans in European banks as soon as possible. At the moment, the sum numbers nearly 1 trillion euro. German Finance...

In the current year, start-ups attracted over $ 1 billion through the ICO, which is ten times more than for the entire 2016, says The Wall Street Journal, citing data from Smith & Crown, a crypto-active research company. The middle of this year is marked by two large crowdsale. ICO was carried out by software manufacturer Dynamic Ledger Solutions (Tezos) and a startup block.one, specializing...

The inflow of direct investment in the US has decreased noticeably. German businessmen are particularly cautious, WirtschaftsWoche writes with reference to the preliminary calculations of the US statistical office. The amount of direct investment of foreign enterprises into the American economy has sharply decreased. This is particularly true for Germany, says WirtschaftsWoche edition on Sunday,...

Apparently, Frankfurt-am-Main has won the Brexit race. For decades, the German city sought to gain world-wide importance, and tried to compete with London for the title of financial center of Europe after the euro was introduced. However, Frankfurt-on-Main did not manage the capital of Great Britain, Bloomberg writes. As Britain is leaving the European Union and banks are seeking to maintain...

Foreign investors and state banks of India have different opinions on prospects of the government bond market of the country with a volume of $ 750 billion, writes Bloomberg. Last quarter, lenders sold India's sovereign bonds for 952 billion rupees ($ 14.7 billion). At the same time, foreign funds increased their investments in India bonds by more than Rs. 422 billion. Two classes of investors...

Introduction of artificial intelligence (AI) can bring the world’s economy an additional $ 15.7 trillion, or 14% of global GDP, by 2030. This is more than the current aggregate volume of economies of China and India in nominal terms, according to a recent study by PwC. Of this amount, $ 6.6 trillion will be spent to increase productivity due to automation of business processes (including use of...

Companies around the world are suffering from consequences of the attack of virus Petya. The world's largest container shipping company A.P. Moller-Maersk completely stopped the work of its computer system to assess the problem’s extent. In addition, among the victims were major technology companies, whose shares are falling. The ransomware Petya, which started spreading in Ukraine, Russia and...