Since some Indian refiners are equipped to handle heavy crude oil, India would purchase Venezuelan oil, the country's oil minister, Hardeep Singh Puri, announced on Friday.   Following the US lifting of sanctions in October, Indian refiners have already started buying Venezuelan oil again....

November saw an increase in production at American factories thanks to a spike in auto production after the strikes ended, but activity was lower abroad as manufacturers struggled with rising borrowing costs and declining demand.   Even with the varied results for the manufacturing sector,...

The European Union opted to begin accession talks with the war-torn nation UKraine, but failed to reach a consensus on a financial aid package worth 50 billion euros ($54 billion), which Ukraine urgently needs to survive.   Hungarian Prime Minister Viktor Orban denied the aid, dealing...

Chinese leaders decided to run a 3% GDP budget deficit in 2024 at their annual meeting on the economy. A Reuters report that cited unidentified sources claimed that additional fiscal support could be provided by off-budget debt.   With the ability to issue off-budget sovereign debt, Beijing...

In the third quarter of 2023, the economies of the G20 countries grew by 0.7% in comparison to the prior three months, as per an early report released by the Organization for Economic Co-operation and Development (OECD). GDP growth increased in contrast to the revised 0.6% growth in the second...

As expected, the ECB maintained the benchmark interest rate at 4.5% annually. According to a statement from the watchdog, the European Central Bank (ECB) maintained the benchmark interest rate at 4.5% per year during its meeting on Thursday. This rate is still historically high. The regulator's...

The White House said on Thursday that the Biden administration would impose inflation penalties on hundreds of pharmaceutical companies, thereby lowering Medicare beneficiaries' out-of-pocket expenses.   A section of President Joe Biden's Inflation Reduction Act (IRA) penalises...

The international rating agency Fitch Ratings updated its short- and medium-term pricing estimates for coal, iron ore, and base metals. These estimates are used in the agency's projections of operating activities and the financial performance of industry participants. The agency said in a statement...

Was 2022 the year that "broke bitcoin"? If so, 2023 has been the year of healing from trauma.   Fortunately, despite low trading volumes, weak cryptocurrency prices, and challenging economic conditions, Bitcoin has rebounded. After a summer lull, it even got a boost in October.  ...