Daily Management Review
Economics

Price hikes in 2023 expected to hit record high in Japan

Price increases affected over 30,000 items. The rate of price rises in Japan in 2023 will be greater than that in 2022 and will be at an all-time high, as shown in a report released by Teikoku Databank, the nation's top statistical agency. More than 30,000 products had already seen price...

Dead EV Batteries Become Valuable Thanks To US Subsidies

Companies in the United States are rushing to recycle electric vehicle batteries in North America due to a little-known provision in the U.S. Inflation Reduction Act, putting the continent at the head of a worldwide race to challenge China's hegemony in the sector.   The IRA has a provision...

North Korea’s foreign trade volume grows 122.3% in 2022

In comparison to 2021, the DPRK's international trade volume increased by 122.3 percent to $15.9 billion in 2022, shows a study on North Korean foreign trade released on Thursday by the Korea Trade Promotion Corporation (KOTRA). "The improvement in COVID-19 as well as the resumption of trade...

Bitcoin's correlation with S&P 500 falls to three-year low

Binance Research: Bitcoin's correlation with the S&P 500 index has reached a three-year low. According to the cryptocurrency market report for the first half of 2023 from Binance Research, the correlation of Bitcoin's value with the traditional finance market (S&P 500 index) has fallen to its...

Though Japan's Inflation May Have Peaked, The BOJ's Stance Is Not About To Alter

Data indicated that although Japan's core inflation remained over the central bank's 2% target in June for the fifteenth consecutive month, an index that excludes the impact of energy costs declined, suggesting that the extended commodity-driven pricing pressures may have reached their peak....

Crypto Stolen By North Korean Hackers After Breaching A US Tech Firm

According to the company and cybersecurity specialists, a hacking organisation supported by the North Korean government infiltrated an American IT management company and used it as a launching pad to attack bitcoin companies.   JumpCloud, based in Louisville, Colorado, stated in a blog post...

Venezuela to push oil production to over 1M bpd by the end of 2023

The nation's oil minister, Pedro Rafael Tellechea, claims that exports are also increasing and will make up around 60% of the total. According to Venezuelan Oil Minister Pedro Rafael Tellechea, the country plans to raise oil output to over 1 million barrels per day (bpd) by the end of this year....

IEA downgrades global energy consumption growth forecast for 2023

The International Energy Agency forecasts that the rate of growth of global energy consumption will be higher in 2024. The International Energy Agency (IEA) has lowered its forecast for growth in world electricity demand to 1.9% from a previous prediction of 2.6%, as shown in the organization’s...

Sharp Decline In UK Inflation Provides Some Respite To The Bank Of England

According to official figures, British inflation dropped more than forecast in June and slowed to 7.9%, which will lessen some of the pressure on the Bank of England to continue hiking interest rates substantially.   As the Office for National Statistics reported that the consumer price...

Why China Might Be The Next Thorn In The Side Of The Luxury Market

In recent years, the luxury goods business has relied primarily on China and North America for growth, but recent Chinese economic numbers and a disappointing sales report from Cartier-owner Richemont show that both markets may be slowing.   Major luxury brands have spent millions of dollars...
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