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Independent Journalism · Est. 2026
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Independent Journalism · Est. 2026
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Economy

1239 articles · sorted by newest first

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Economy 6/18/2026

UK India Business Council Celebrates Final Go Ahead To FTA

The long-anticipated UK-India Free Trade Agreement (FTA), formally known as the Comprehensive Economic and Trade Agreement (CETA), is set to enter into force on July 15, 2026, marking a significant milestone in bilateral economic ties. The UK India Business Council (UKIBC) welcomed the announcement made on Wednesday, signaling the final go-ahead for a deal poised to dramatically reshape trade between the two nations. This breakthrough follows extensive negotiations and recent resolution of a sticking point concerning UK steel safeguard measures, solidifying a pact that both governments believe will unlock substantial economic benefits.

Editorial Team1 min
UK India Business Council Celebrates Final Go Ahead To FTA
Economy 6/17/2026

IEA sees gradual Hormuz recovery tipping into significant 2027 surplus

The International Energy Agency (IEA) has sharply revised its 2026 global oil demand forecast downwards, predicting a 1.1 MMbpd decline as the world grapples with the protracted impact of the Strait of Hormuz closure. This critical reassessment, revealed in its latest monthly report, comes amidst a delicate US-Iran interim agreement to reopen the vital waterway, yet the agency projects a significant global oil surplus by 2027, signalling a complex and volatile rebalancing for energy markets.

Editorial Team1 min
IEA sees gradual Hormuz recovery tipping into significant 2027 surplus
Economy 6/17/2026

Russian oil exports total 7.35 mln bpd in May, revenues fall to $20.79 bln — IEA

A paradoxical shift is underway in Russia's energy complex: despite Ukrainian drone strikes crippling its domestic refining capacity and causing a 10% production shortfall against its May target, the nation's total crude oil exports surprisingly surged by 170,000 barrels per day. This unexpected increase, however, did not translate to higher earnings, as Moscow's total oil export revenues plummeted to $20.79 billion in May, a $710 million drop month-on-month, largely due to easing global prices and deeper discounts on its Urals crude.

Editorial Team1 min
Russian oil exports total 7.35 mln bpd in May, revenues fall to $20.79 bln — IEA
Economy 6/17/2026

Rupee opens at 94.46/$, extends gains as Brent slips below $80

The Indian Rupee (INR) has demonstrated a notable recovery, opening at 94.46 against the US Dollar (USD) today and extending gains from a recent low of 94.60, as Brent crude oil prices slipped below the critical $80 per barrel mark. This appreciation, a 31 paise gain from its Tuesday close, comes amid heightened anticipation for the US Federal Reserve's policy announcement later today, where the central bank is widely expected to hold interest rates steady following its two-day meeting. The Rupee's rebound signals a cautious optimism in global markets, driven primarily by easing energy costs and strategic interventions by the Reserve Bank of India.

Editorial Team1 min
Rupee opens at 94.46/$, extends gains as Brent slips below $80
Economy 6/17/2026

Freight rates, supply chains to take months to normalise after Hormuz reopening, say UAE firms

The Strait of Hormuz is set to fully reopen by Friday, June 19, following an interim US-Iran peace deal signed on June 15, ending a conflict that had effectively closed the critical waterway since late February. While the diplomatic breakthrough has already slashed crude oil prices to the low-$80s per barrel, UAE manufacturing and trading industry leaders warn that the path to normalcy for global freight rates and supply chains will be a protracted, multi-month ordeal. Lingering backlogs, persistently high war-risk insurance premiums, and a cautious shipping industry mean immediate relief for import and export costs remains elusive.

Editorial Team1 min
Freight rates, supply chains to take months to normalise after Hormuz reopening, say UAE firms
Economy 6/17/2026

Price pressures may linger due to damaged energy assets, ECB's Makhlouf says

Despite a recent interim agreement between the US and Iran to reopen the Strait of Hormuz, European Central Bank Governing Council member Gabriel Makhlouf has warned that global price pressures will likely persist, citing extensive damage to critical energy infrastructure in the Middle East. Makhlouf emphasized on Tuesday that while the deal offered a brief dip in energy prices, the physical destruction of key production and export facilities means an immediate end to the energy shock is far from certain. This stark assessment underscores the deep, structural challenges facing global energy markets, forcing central banks like the ECB to maintain a hawkish stance against inflation.

Editorial Team1 min
Price pressures may linger due to damaged energy assets, ECB's Makhlouf says
Economy 6/17/2026

US Federal Reserve kicks off first meeting with Warsh as chair

Kevin Warsh today chairs his inaugural Federal Open Market Committee meeting, inheriting a US Federal Reserve facing persistent inflation and global economic uncertainty. While markets widely anticipate the central bank to maintain the federal funds rate at 3.50%-3.75%, the real suspense lies in Warsh's communication strategy and any shifts in the Fed's stance amid soaring consumer prices and geopolitical headwinds.

Editorial Team1 min
US Federal Reserve kicks off first meeting with Warsh as chair
Economy 6/17/2026

VAT boom drives UAE tax revenues up 15 per cent to Dh46b

The United Arab Emirates saw its tax revenues surge by 15 percent to AED 46 billion in 2025, driven by robust Value Added Tax (VAT) and Excise Tax collections. This significant increase from AED 41 billion in 2024 underscores the accelerated maturation of the nation's fiscal system and its determined pivot away from oil dependence, providing a stronger, more stable foundation for government finances.

Editorial Team1 min
VAT boom drives UAE tax revenues up 15 per cent to Dh46b
Economy 6/16/2026

AP Exclusive: The school choice scholarship boom benefits kids already in private school

A new Associated Press analysis reveals that the surging national movement for school choice scholarships, now nearing universal eligibility in many states, disproportionately benefits students already enrolled in private or home schools, rather than those seeking an escape from public education. With Texas launching its monumental $1 billion Education Freedom Accounts program this fall, concerns are mounting that taxpayer funds are subsidizing existing private school attendance rather than expanding access for the most disadvantaged students.

Editorial Team1 min
AP Exclusive: The school choice scholarship boom benefits kids already in private school
Economy 6/16/2026

Moneycontrol Pro Panorama | What did your money manager do in May?

Global markets are undergoing a seismic re-calibration following a preliminary US-Iran peace deal on June 15, which immediately sent crude oil prices plunging to three-month lows and ignited worldwide equity rallies. The landmark agreement, set for formal signing in Switzerland on June 19, primarily focuses on a 60-day ceasefire and the critical reopening of the Strait of Hormuz, a chokepoint responsible for a fifth of global oil and gas trade. This geopolitical breakthrough directly addresses months of energy supply disruptions, providing a much-needed antidote to inflationary pressures that have been surging across economies.

Editorial Team1 min
Moneycontrol Pro Panorama | What did your money manager do in May?
Economy 6/16/2026

China's industrial output up 5.4 pct in first five months

China's industrial engine continues its steady hum, with value-added industrial output expanding by 5.4 percent in the first five months of 2026, including a 4.5 percent year-on-year rise in May alone. This consistent growth, buoyed significantly by robust performances in the high-tech and equipment manufacturing sectors, underscores Beijing's strategic pivot towards advanced industries amidst a complex global economic landscape.

Editorial Team1 min
China's industrial output up 5.4 pct in first five months
Economy 6/16/2026

Oil and gas supplies could take months to return to normal after Iran deal

The recently inked 'Islamabad Memorandum' signaling an end to the Iran war and the reopening of the critical Strait of Hormuz has sent a wave of relief through global energy markets, yet the world shouldn't expect an immediate return to pre-conflict stability. Despite initial drops in crude oil and natural gas prices, experts warn that it will take months, potentially extending into 2027, before energy supplies can normalize, exposing the deep-seated vulnerabilities of global supply chains.

Editorial Team1 min
Oil and gas supplies could take months to return to normal after Iran deal
Economy 6/16/2026

Exclusive-Ukraine aims to align banks, insurers with EU rules by 2028, central banker says

Ukraine is aggressively fast-tracking reforms to align its banking and insurance sectors with European Union standards by 2028, a critical move championed by National Bank of Ukraine (NBU) Governor Andriy Pyshnyi, despite the ongoing full-scale war. This accelerated timeline is a core pillar of Kyiv's broader EU accession bid and indispensable for attracting the vast private investment required for the nation's immense post-war reconstruction.

Editorial Team1 min
Exclusive-Ukraine aims to align banks, insurers with EU rules by 2028, central banker says
Economy 6/16/2026

SpaceX Appetite Among Crypto Retail Investors Bigger Than Expected, Says Top Analyst—Points To Billions In Derivatives Traded On Binance

Space Exploration Technologies Corp., better known as SpaceX, made its historic debut on the Nasdaq on June 12, 2026, under the ticker SPCX, immediately becoming the largest Initial Public Offering in Wall Street history. However, beyond traditional markets, influential analyst Ali Martinez has spotlighted an unprecedented surge in demand among crypto retail investors for SpaceX-linked products, with billions in derivatives traded on platforms like Binance, far exceeding initial expectations. This fervent crypto activity, particularly in perpetual futures and tokenized stock offerings, underscores a powerful, previously underserved appetite for exposure to high-growth private ventures.

Editorial Team1 min
SpaceX Appetite Among Crypto Retail Investors Bigger Than Expected, Says Top Analyst—Points To Billions In Derivatives Traded On Binance
Economy 6/16/2026

Canada's U.S. ambassador tries to ease tariff anxiety after Trump's latest CUSMA comments

Canada's U.S. Ambassador, Mark Wiseman, is actively working to temper anxieties surrounding the Canada-U.S.-Mexico Agreement (CUSMA) review, set for July 1, 2026, following recent comments from U.S. President Donald Trump that he is 'not looking to renew' the pact. Wiseman emphasized that the July 1 deadline is a 'checkpoint, rather than a cliff,' asserting that the agreement will remain in force until 2036 even without immediate renewal. His reassurances come as Canada and Mexico push for a 16-year extension amidst U.S. demands for modifications and the lingering threat of new tariffs.

Editorial Team1 min
Canada's U.S. ambassador tries to ease tariff anxiety after Trump's latest CUSMA comments
Economy 6/16/2026

Social Security Payments Could Get Major Boost Due to Iran War

The intensifying Iran War is precipitating a global economic shock, with surging inflation poised to render the recently implemented 2.8 percent Social Security Cost-of-Living Adjustment (COLA) for 2026 largely insufficient for millions of beneficiaries. Escalating geopolitical tensions have propelled crude oil prices to unprecedented levels, feeding directly into the cost of everyday essentials and severely eroding purchasing power. This critical mismatch between benefit increases and the true cost of living signals a deepening crisis for those on fixed incomes across the nation.

Editorial Team1 min
Social Security Payments Could Get Major Boost Due to Iran War
Economy 6/16/2026

Saskatchewan premier says there’s room to make better use of trade deal with Europe

Saskatchewan Premier Scott Moe has locked in a new commitment with the Czech Republic, signalling a strategic provincial push to intensify trade with Europe and fully exploit the Canada-European Union Comprehensive Economic and Trade Agreement (CETA). The Memorandum of Understanding, signed on June 12 during Moe's ongoing European trade mission, specifically targets collaboration in energy, innovation, and nuclear fuel, including uranium supply, underscoring Saskatchewan's ambition to position itself as a critical global supplier.

Editorial Team1 min
Saskatchewan premier says there’s room to make better use of trade deal with Europe
Economy 6/16/2026

US Oil Reserve Hits 43-Year Low as Trump Aims to Tame Gas Prices

The U.S. Strategic Petroleum Reserve has plunged to 340.3 million barrels, its lowest level since 1983, as the Trump administration continues to tap emergency stockpiles to tame surging fuel prices exacerbated by an active war with Iran. This drastic drawdown, part of a 172 million barrel release plan, comes as a fragile interim peace agreement to reopen the critical Strait of Hormuz is reportedly on the cusp of being signed, highlighting the severe economic fallout of the recent conflict.

Editorial Team1 min
US Oil Reserve Hits 43-Year Low as Trump Aims to Tame Gas Prices
Economy 6/16/2026

Chevron enters Block 10 in the Kyparissiakos Gulf with a 70% stake & Operator role – Path opens for next phase of exploration

In a rapid strategic maneuver, U.S. energy giant Chevron has finalized its entry into Greece's Block 10 offshore concession in the Kyparissiakos Gulf, securing a 70% operating stake from HELLENiQ ENERGY. This pivotal agreement, swiftly approved by Greek authorities on June 15, 2026, positions Chevron as the operator and deepens its footprint in the burgeoning Eastern Mediterranean energy landscape, marking its fifth offshore concession in Greece.

Editorial Team1 min
Chevron enters Block 10 in the Kyparissiakos Gulf with a 70% stake & Operator role – Path opens for next phase of exploration
Economy 6/15/2026

Germany wholesale price inflation eases

Germany's wholesale price inflation saw a notable deceleration in May 2026, easing to a 5.9% year-on-year increase from 6.3% in April, largely attributable to a strategic reduction in the energy tax rate on mineral oil products. This marked the first monthly decline in wholesale prices since December, dropping 0.6% from April's figures, offering a sliver of relief amid persistent inflationary pressures.

Editorial Team1 min
Germany wholesale price inflation eases
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