The Greek Ministry of Finance has begun early repayment procedures for about €3.6 billion of the loans which the country received from the International Monetary Fund (IMF). According to Finance Minister Christos Staikouras, "as part of the public debt management programme in 2021, the Greek Ministry of Finance has started the procedure for a new early repayment of around €3.6bn of the amount of...

Banks earned a record $124.5bn in fees in 2020, thanks to increased volatility in the equity market and rising debt markets, reported the Financial Times (FT), citing data from researchers at Refinitiv. Jason Goldberg, an analyst at Barclays UK, says: "This year has been a very busy year for both bond and equity markets as companies have turned to the capital markets to strengthen their balance...

The COVID-19 coronavirus pandemic has spurred growth in the video games industry, allowing it to generate more revenue than the film and sports industries combined. Revenues in the global video games industry are expected to jump 20 percent year-over-year to $179.7 billion in 2020, according to IDC. At the same time, revenues for the global film industry reached $100bn for the first time in 2019,...

According to the Financial Times (FT), seven European and US start-ups have raised a total of $950m since the start of the year to buy small companies trading on Amazon. According to analysts, sales of independent merchants on Amazon will amount to more than $200bn this year, with thousands of such sellers generating more than $1m a year in revenue.  This situation is attracting investors...

Iraqi oil exports declined in November compared to October, while revenues remained almost the same due to higher oil prices, according to data released by the Iraqi Oil Ministry. Oil exports averaged 2,876 million barrels per day in October and 2,613 million barrels per day - in September. "Iraq's oil export volume for November was 81,262,376 barrels," the Ministry of Oil said in a report....

By the end of this year investment banks may receive record commissions for transactions with Chinese securities, writes Financial Times, referring to the data of analytical company Dealogic. According to the company’s calculations, since the beginning of the year such commissions of investment banks not based in China have already grown by 113% compared to last year and reached $ 1.73 billion....

In 2020, GDP in Latin America and the Caribbean will show a record fall of 7.7% in 120 years, with 3.7% growth expected in 2021, says the UN Economic Commission for the region (CEPAL). "GDP in Latin America and the Caribbean is expected to fall by 7.7%, which is the largest decline since studies began in 1900," the commission said in its report. The largest declines are expected in Venezuela...

An unprecedented rise in global iron ore prices was caused by China's construction boom amid strained relations with Australia, which is the country's biggest iron ore supplier, as well as by a reduction in projected supply from Brazil. Chinese steelmakers are asking regulators to investigate for possible speculation. Iron ore prices have reached a seven-year high and continue to rise. The main...

The Chinese have been buying cars for the fifth consecutive month, including a particularly strong increase in demand for electric cars from the American Tesla group owned by Elon Musk, Bloomberg reports. Retail sales of passenger cars and SUVs in China increased by 7.8% compared to 2019. In November alone, the country’s residents bought up 2.11 million cars. Wholesale sales of electric cars...