The ECB will keep raising the key rate in 2023, according to spokesman Knot. According to Klaas Knot, the head of the Dutch central bank, the ECB will tighten monetary policy between now and July 2023 at "a pretty decent pace." The key rate will be growing by 0.5 percentage points until it reaches its summer high, reports The Financial Times on Monday. In an interview, Knot stated, "The...

Major U.S. corporations' logistics managers were surveyed by CNBC, and the majority of them said that they didn't think the world's supply chains would function well until at least 2024. The journalists surveyed 341 managers from American businesses included in the National Retailers Federation (NRF), the American Apparel and Footwear Manufacturers and Retailers Association, and other large...

Boeing’s top executive told suppliers that the company sees strong signs of market recovery. The company has appointed a new supply chain executive tasked with restoring industrial supply lines to "as favorable a condition as possible". Ihssane Mounir, the newly appointed head of internal and external supply chain, will integrate supply chain strategies and requirements across all aircraft...

In 2022, the EU has allocated €4.11 billion from the Modernisation Fund to support more than sixty projects in eight beneficiary countries to modernize energy systems and transition to green energy, according to a statement released by the EU Council. Croatia, Estonia, the Czech Republic, Lithuania, Hungary, Poland, Romania, and Slovakia are said to have received funding. "The 61 projects...

Because of the fluctuating energy prices, energy businesses are urging the UK government to increase access to state support for the sector, according to the Financial Times. In response to fluctuating wholesale energy market prices, the UK Treasury and the Bank of England introduced a £40 billion (about $49 billion) liquidity support program for energy businesses in October. Energy UK, a trade...

De Guindos, a spokesman for the ECB, declared that the watchdog would keep raising interest rates. Luis de Guindos, vice president of the European Central ECB, stated on Monday that the bank would keep raising interest rates to combat inflation. "There will be further interest rate increases, but I'm not sure how much more. If I'm being completely honest, I have no idea." He continued by saying...

Global coal consumption is up 1.2% this year compared to 2021, setting a new record. According to the International Energy Agency (IEA) report, more than 8 billion metric tonnes of coal were used globally in a single year, which is the record. The previous global coal consumption record was set in 2013. The figure is expected to "remain at roughly the same level in the coming years, given the...

The International Energy Agency (IEA) increased its prediction for the world's oil demand in 2022 by 140,000 bpd. The figure is now expected to reach 2.3 million barrels per day (bpd). In its December report, the agency noted a 100,000 bpd increase in the prediction for 2023, to 1.7 million bpd. After five months of expansion, the total world oil supply decreased by 190,000 bpd to 101.7 million...

According to the IMF, global private and governmental debt will experience the largest decline in 70 years relative to global GDP in 2021, after hitting historic highs during the pandemic. According to the International Monetary Fund (IMF), the global debt to GDP ratio will experience its biggest decline in 70 years in 2021. The debt increased further to $235 trillion in dollars. According to...