According to data from the Chinese research firm Syntun, internet sales on Singles Day in China totaled 1.1 trillion yuan ($156.9 billion). Every year on November 11, China observes SIngles Day. 2009 saw the debut of the 27-merchant Alibaba sale event. According to Syntun statistics, the overall sales volume on electronic platforms throughout the entire sales festival was 934 billion yuan...

According to the FT, the ECB is pressuring UniCredit to leave Russia because it views the bank's position there as a risk. The European Central Bank (ECB) is pressuring UniCredit to leave Russia because it views the Italian bank's position there as an unfavorable source of risk. The Financial Times reported this, citing reliable sources. The chief executive officer of Italy's largest bank,...

As of October, Japan's foreign exchange reserves decreased for the third consecutive month following a record dip in September. According to information provided by the Finance Ministry on Tuesday, the decrease in reserves is due to the largest intervention ever, when the yen was bought for dollars. The information was made public along with a different report that verified Japan did not launch...

DailyFX: Analysts anticipate a 0.4% increase in euro zone retail sales in September. According to economists surveyed by DailyFX, retail sales in the 19 nations that make up the euro area increased by 0.4% on a monthly basis in September after falling by 0.3% in August, and by 1.3% on an annual basis after falling by 2%. The European statistical organization Eurostat will release the official...

In the second and third quarters, U.S. public businesses engaged in oil production and refining had a combined profit of $200.2 billion, according to S&P Global Commodity Insights estimates for the Financial Times. The record gains, according to the experts, are the result of rising oil prices brought on by heightened geopolitical unrest as a result of the military conflict in Ukraine. S&P's...

Saudi Energy Minister Abdulaziz bin Salman stated at the ADIPEC conference in Abu Dhabi on the eve of the COP27 climate summit aimed at reducing global warming that Saudi Arabia and the United Arab Emirates (UAE) are working to increase energy production from renewable sources while also increasing oil production. The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) opened...

In 2022, the U.S. dollar will still be the most widely used currency in the world, with record-breaking daily currency trading volumes of $7.5 trillion. The news is supported by a poll released in April and conducted every three years by the Bank for International Settlements (BIS). The research claims that in April of this year, foreign exchange trading volumes grew by 14% from 2019 to a...

Over the previous three weeks, dealers were instructed to supply consumers in China with more than half of the copper from the London Metal Exchange (LME), the most of which has Russian provenance, reports Bloomberg. They claim that over 70,000 tons of copper were requested for delivery from LME warehouses by traders during this time. The majority of it is destined for Chinese buyers, according...

The first nine months of 2022 saw profits for China's large industrial businesses of 6.244 trillion yuan, or roughly $864 billion. According to figures issued on Thursday by China's State Statistics Office, the amount was down 2.3% from the same period in 2021. Only 19 out of 41 industries overall witnessed an increase in revenues, while 22 reported a decrease. Chinese businesses engaged in...