Browsing: Business

As a result of escalating geopolitical tensions, international shipping is facing unprecedented operational challenges. Maritime authorities emphasized this at World Maritime Day, with the International Maritime Organization in London underscoring that commercial vessels are directly impacted by these wider conflicts.

– Higher road fuel prices are projected to increase European Union transport costs by an estimated €53 billion in 2026. The estimate was released by Transport & Environment on September 23 after analyzing 28 weeks through September 6. The Brussels-based

– The OECD has upgraded its 2026 worldwide growth estimate to 2.9%, driven by the economy’s resilience beyond initial expectations. This revision marks an increase from the 2.8% forecast issued in the organization’s June report. Conversely, the OECD has lowered

– Russia’s non-resource, non-energy exports have gone beyond $96 billion from January through July 2026, reflecting an 8% increase compared to the same period last year. First Deputy Prime Minister Denis Manturov announced this year-on-year growth in the latest report

– The second quarter of 2026 experienced a notable increase in the worth of European Union petroleum oil imports, which jumped by 55.8%, despite only a slight change in the volume. According to Eurostat, the import volume reached 36.7 million

– European wheat futures increased as ongoing disruptions to Black Sea grain exports kept supply concerns at the forefront. On Monday, December wheat futures traded on Paris-based Euronext rose by 0.9% to €243.75 per metric ton, regaining some ground after

Russia anticipates a federal budget shortfall of around 2 percent of gross domestic product for this year, based on a highly conservative crude oil price estimate, according to President Vladimir Putin during a high-level government economic meeting in Moscow. Opening

– The Bank of England has devised a multi-year plan to gradually reduce its remaining holdings of monetary-policy gilts by September 2034. The central bank intends to sell £20 billion of government bonds annually, while allowing other gilts to mature

– The Bank of England begins its September policy session with the Bank Rate steady at 3.75%, despite inflation remaining above its 2% target. The Monetary Policy Committee (MPC) will reveal its next decision on interest rates on September 17.

– The Oesterreichische Nationalbank (OeNB) has downgraded its 2026 economic growth estimate following weaker activity in the first half of the year. The bank now anticipates a 0.5% increase in real gross domestic product for 2026, down from its June