Installed renewable energy (RE) capacity at the end of the year reached a record high, exceeding the 2020 result by 4.7%, according to Rystad Energy analysts. "This was a record year for renewables globally, with installed capacity of 227 GW, 4.7% higher than in 2020," the analysts said. At the same time, they recorded a marked increase in announcements of solar energy projects. And the number...

Global steel production in January-November 2021 amounted to 1.753 billion tonnes, having increased by 4.5% year-on-year, according to World Steel Association (WSA) data. CIS countries, according to preliminary data, increased steel output by 6.8%, to 97 million tonnes, including Russia - by 7.1%, to 69.7 million. The EU countries produced 141.4 million tonnes of steel (an increase of 17%),...

Number of home sales and purchases on the US secondary market rose 1.9% in November compared to October to 6.46 million, according to a report by the National Association of Realtors (NAR). This is slightly worse than forecast. Analysts polled by DailyFX had expected a figure of 6.52 million compared to October's level of 6.34 million. Sales of single-family homes in the U.S. in November...

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...