Europe

Germany’s inflation eases to 2.5 percent in June, paving way for ECB rate cut

Inflation in Europe's largest economy had already slackened to 2.3 percent in March, its lowest level since June 2021

Germany’s renewable energy share reaches 58 percent in first half of 2024

Photovoltaic systems generated more than 10 billion kilowatt hours of electricity in one month for the very first time in June

Denmark to introduce first-ever carbon tax on agriculture

The deal calls for taxing farmers 300 Danish crowns ($43.16) per ton of CO2 in 2030, increasing to 750 crowns by 2035

Spain’s GDP expands 2.5 percent annually in Q1 2024, exceeding initial estimates

GDP grew by 0.8 percent sequentially, a faster pace than the 0.7 percent growth seen in the fourth quarter of 2023

ECB may cut interest rates twice more this year, to reach as low as 2.25 percent in 2025

While the ECB must ensure inflation returns to 2 percent, it shouldn’t overly dampen economic activity with interest rate cuts

South Korea’s overseas assets reach new high of $1.911 trillion

External financial assets reached $1.911 trillion at the end of December last year

Oracle to invest over $1 billion in AI and cloud computing in Spain

Madrid is expected to receive investments of more than 6 billion euros from the cloud industry in the next three years

U.K. inflation reaches central bank’s 2 percent target: Will policymakers respond with rate cuts?

This marks the lowest annual increase in the consumer price index since mid-2021, in line with analysts' forecasts

ECB shouldn’t rush or delay future interest rate cuts: Bank of France governor

France central bank governor calls on governments and regulators to boost capital markets union to help close investment gap

ECB cuts interest rates for the first time since 2019, down to 3.75 percent from 4 percent

Eurosystem staff now see headline inflation averaging 2.5 percent in 2024, 2.2 percent in 2025, and 1.9 percent in 2026

China reclaims top spot with $196.5 billion in international tourism spending in 2023: Report

This reflects the continued recovery of the Asia and Pacific (APAC) region from the impacts of the COVID-19 pandemic

Microsoft to invest $3.2 billion in cloud and AI infrastructure expansion in Sweden

The tech giant plans to deploy 20,000 advanced GPUs at its Swedish data centers

Eurozone inflation hits 2.6 percent in May, services inflation reaches 7-month high of 4.1 percent

Until this month, Eurozone inflation had been steadily declining towards the ECB's 2 percent target

U.K. headline inflation falls to 2.3 percent in April, but core and services prices remain elevated

Services inflation eased only slightly to 5.9 percent from 6 percent, missing the 5.5 percent forecast

Eurozone trade balance surplus jumps to $26.17 billion in March

The euro area exports of goods to the rest of the world in March 2024 were $266.39 billion

Google’s $1.1 billion investment in Finnish data center aims to power AI growth in Europe

Finland's wind power capacity has increased so rapidly in recent years, by 75 percent to 5,677 megawatts in 2022 alone

Eurozone economy expands 0.3 percent in Q1 2024, inflation to remain stable at 2.4 percent

Economic expansion in Germany, Spain and Ireland propelled eurozone's economic growth

Eurozone lending stagnates in March, ECB rate stance deters borrowers, lenders

This data supports the ECB's plan to start cutting eurozone interest rates in June after inflation falls slightly above its 2 percent target

Greece’s economy expected to grow by 2.1 percent in 2024, new report reveals

Tourism boosts country’s economy, but lower exports and consumption weigh on growth

IEA forecasts strong growth in electric car sales to 17 million in 2024

The IEA expects China to account for 10 million electric vehicle sales this year

ECB stays committed to multiple rate cuts despite Fed’s caution, global uncertainty

Officials highlighted that the ECB's decisions hinge on incoming data, especially regarding wages, profits, and productivity

UNCTAD forecasts 2.6 percent global economic growth in 2024, warns of urgent issues beyond inflation

This marks the third straight year of growth below the pre-pandemic average of 3.2 percent from 2015-2019

ECB signals potential June interest rate cut despite rising oil prices, weaker euro

ECB ready to adapt monetary policy stance if current trends persist

Saudi Arabia’s minister highlights $3 billion in Spanish real estate investments, announces upcoming development agreement

40 percent of Spain's investments in Saudi Arabia over the past 10 years has been in the real estate sector