The Financial Services Commission stated that the choice was made to foster more competition in the sector. South Korea has chosen to open up its banking market to new players for the first time in 30 years in order to boost industry competitiveness, the Financial Services Commission (FSC) announced. "By allowing additional competitors to enter the industry, we will encourage competition....

Data from purchasing managers' indices (PMIs), one of the most important worldwide industry indicators, suggest to a further deterioration of global industrial demand. According to data from J. P. Morgan and S&P Global, only ten of the 29 nations included in the calculation of the average showed a rise in industrial activity in June, bringing the global manufacturing PMI to a six-month low of...

Within the framework of OPEC+, Saudi Arabia will extend its voluntary cut of 1 million barrels per day (bpd) from oil output for the month of August. The news were reported by the Saudi Press Agency, who cited an unidentified official source in the Kingdom's Energy Ministry. The agency reported that Saudi Arabia will continue to produce 9 million barrels per day of oil. The source stated: "This...

The car market's return to pre-pandemic levels is one of the primary factors cited as a good trend in the industry. Major Japanese industrial enterprises' attitude increased for the first time in seven quarters, shows the Bank of Japan (BoJ)'s Tankan index, which is used to assess inflation. This index, which measures the discrepancy between the shares of businesses that offered favorable and...

According to U.S. Forbes, 21 billionaires sold shares of companies worth $ 9.3 billion in the first half of this year. U.S. Forbes calculated that 21 billionaires among the world's wealthiest people sold shares valued at $ 9.3 billion in the first half of this year. Each businessman sold shares for at least $100 million, according to the magazine. Co-founder of the short-term rental company...

The expansion of bank lending in the euro area slowed down in May as a result of increased interest rates and the manufacturing sector recession, according to ECB data issued on Wednesday. The ECB is hiking rates at the fastest rate in its history this year in an effort to combat inflation. Credit demand is being reduced as a result, which is affecting all aspects of the economy, including the...

Recession might start in the United States in the fourth quarter of this year, and in Europe – in 2024, according to HSBC experts quoted by CNBC TV network. According to HSBC's semi-annual prediction, a number of European economies are currently exhibiting "warning signs." Analysts claim that this means that current movements on the stock and debt markets are not reflected in fiscal and monetary...

A deal to acquire and sell LNG has been reached between Cheniere, a U.S. company, and ENN Energy, a Chinese company. According to Cheniere’s press statement, ENN Energy, one of China's major distributors of sustainable energy goods, and Cheniere Energy Inc, the largest producer of liquefied natural gas in the United States, have agreed on LNG supplies. "Cheniere Energy, Inc. announced today...

According to the WSJ, OPEC is interested in the South American Guyana joining its cartel of oil-exporting nations. The Organization of Petroleum Exporting Countries (OPEC) wants South American Guyana, which has fewer than 1 million people and is home to the most potential oil reserves, to join as a new member. According to The Wall Street Journal, referring to sources in OPEC, the nation has...