The number of oil and gas fields discovered in the world in 2021 could be the lowest in 75 years, according to Rystad Energy analysts. "Global oil and gas discoveries in 2021 could be the lowest in 75 years if there are no significant discoveries before the end of December," the analysts write. As of the end of November, discovered reserves stood at 4.7 billion barrels of oil equivalent, and if...

US stock and commodity markets suffered further losses due to investor fears over the spread of the omicron strain of the coronavirus. Stock indices fell, and so did oil prices and treasury bond yields. Analysts fear the economy and businesses may return to where they were months ago. US investors fear a repeat of scenarios with covid lockdowns and restrictions due to the spread of the omicron...

Investors in wind and solar power believe that rising costs have made sustainable energy projects less profitable. The cost of switching to clean energy is rising due to commodities market inflation, and investors are looking for higher returns by exploring beyond the already mature renewable energy business. For the first time in years, energy companies have to spend more on solar and wind farms...

The US Federal Reserve announced that it is accelerating the winding down of its asset-buying programme amid a run-up in inflation to its highest level in almost 40 years. The watchdog lowered the growth forecast for the US economy this year. The Federal Reserve announced it was accelerating the scale back of its asset-buying program, from $15 billion to $30 billion a month from January, "in...

For the second year in a row PwC ranked Liechtenstein as the country with the most transparent cryptocurrency tax policy. The small state beat out Germany, Singapore, the US and other major financial centres. Liechtenstein topped consulting firm PwC's index of clarity and transparency in cryptocurrency tax systems, follows from the second edition of the company's annual Global Crypto Tax Report...

About 12.07 million new jobs were created in China in the first 11 months of 2021, beating the annual target, figures released by China's state statistics bureau showed on Wednesday. "From January to November 2021, 12.07 million new jobs were created in China's cities and towns, exceeding the annual plan. Separately, the registered urban unemployment rate in November was 5 percent, up 0.1...

Apple and Google's duopoly could limit competition and ecosystem choices for mobile service users, the UK Competition and Markets Authority (CMA) said in an interim report. Earlier this year, the CMA began investigating how Apple and Google interact with their operating systems (iOS and Android), app stores (App Store and Play Store) and web browsers (Safari and Chrome), which together form their...

Bloomberg has published a forecast of major economic risks in 2022. Experts believe that the main threat to markets is the likely escalations around Ukraine and Taiwan, as well as the spread of the new COVID-19 strain. In particular, it is reported that if the omicron strain proves more dangerous than other strains of COVID-19, the global economy could slow to 4.2%. But if it turns out to be less...

According to the Financial Times, the cost of air freight on major routes has reached an all-time high. Last week, costs on routes from Shanghai to North America hit $14 per kg for the first time, according to the Baltic Exchange Airfreight Index and TAC Freight, which track airfreight prices. Airfreight for that route was $8 per kilogram in August. As a result, the price has nearly doubled in...