Iraq's oil ministry invited foreign firms to develop 13 oil and gas fields. According to a statement from the Oil Ministry's press office, Iraqi Oil Minister Hayan Abdel-Ghani invited foreign firms to take part in the investment project tender for the development of 13 fields and exploration sites...

Consumer sentiment in the United States fell to a six-month low in May, partly to concerns that political wrangling over raising the federal government's borrowing limit could precipitate a recession.   The University of Michigan survey released on Friday also revealed that consumers'...

The Group of Seven (G7) advanced economies' finance ministers are going to discuss this week the concept of placing targeted limits on investments to China, which economists describe as a double-edged sword that will make little progress.   China is on the minds of G7 finance leaders meeting...

According to a news release from the regulator, the Bank of England increased its benchmark interest rate by 25 basis points in May, from 4.25% to 4.5%, and is ready to raise it even further in the event of increasing inflationary pressures. The central bank's choice was in line with what analysts...

On Thursday, U.S. Treasury Secretary Janet Yellen urged Congress to increase the $31.4 trillion federal debt ceiling in order to prevent an unprecedented default that would send the world economy into a tailspin and jeopardise American economic dominance.   In remarks prepared for a news...

According to data released on Thursday, factory gate deflation widened while consumer price growth in China slowed to its lowest level in more than two years in April. This suggests that additional stimulus measures may be required to strengthen the shaky post-COVID economic recovery.   The...

A meeting of the Group of Seven (G7) finance ministers on Thursday was overshadowed by the Washington impasse over raising the U.S. debt ceiling as central banks try to assure a smooth landing for the global economy. Fears of a US recession grew as a result.   President Joe Biden stepped up...

Gallup revealed findings of a study on the nation's financial position that was carried out in the United States from April 3 to April 25. Two significant regional banks—Silicon Valley Bank and First Republic Bank—were shut during the previous two months, and their assets were purchased by other,...

China's imports fell dramatically in April, while exports climbed at a slower pace, confirming signs of weak domestic demand despite the removal of COVID restrictions and adding pressure to an economy already struggling in the face of slowing global growth.   The Chinese economy grew faster...