Europe

European Council to mobilize $100 billion annually in climate finance through 2025

The council reaffirmed its commitment to climate finance and aims for new targets beyond 2025.

Swiss National Bank lowers interest rate to 1.0 percent as inflation falls

Inflation fell to 1.1 percent in August from 1.4 percent in May, partly due to a stronger Swiss franc 

Bank of England holds rates at 5 percent, boosting pound to over two-year highs

The Committee unanimously cut U.K. government bond purchases by $93.77 billion, reducing the total to $523.58 billion

U.K. housing market shifts positively as surveyors report first price balance in nearly two years

Expected sales for the next three months reached their highest level since January 2020, before the COVID-19 pandemic 

GDP grows by 0.2 percent in Euro area and EU in Q2 2024, reports Eurostat

This follows a GDP increase of 0.3 percent in both regions during the Q1 2024

ECB considers rate cuts as inflation reaches lowest levels since mid-2021, says official

Investors expect two or three more borrowing cost cuts this year, with additional actions in 2025 

EU approves $221 million subsidies to boost Germany’s offshore renewable energy infrastructure

New docking facilities on Germany's North Sea coast will handle heavy loads, including wind farm components

Eurozone inflation hits 3-year low of 2.2 percent in August, signaling possible ECB rate cut next month

The inflation landscape is gradually improving, highlighting the progress toward the ECB's 2 percent target

59 percent of EU enterprises embrace digitalization in 2023

Finland emerged as the EU country with the highest level of enterprises reaching a very high level of digitalization at 13 percent

Sweden’s trade surplus grows to $640 million in July 2024

Non-EU trade surplus hit SEK 22.7 billion during this period

Germany commits $3.89 billion to nature-based solutions for climate, biodiversity

This marks the largest investment ever in nature and climate protection in Germany, says minister

Eurozone inflation climbs to 2.6 percent in July, dampening ECB rate cut hope

Core inflation, excluding food and energy, held steady at 2.9 percent despite overall inflation rising

Vietnam ports’ cargo volume soars 16 percent to 501.117 million tons, TEUs reach 16.902 million in first seven months

Despite the surge in cargo volume, sea freight rates have been declining across all routes since the end of July

Euro area trade surplus hits $24.6 billion, driven by machinery and vehicles

Intra-euro area trade fell 5.9 percent in the first half of 2024, reaching EUR1,303.8 billion

Switzerland’s industrial production up 7.3 percent on manufacturing and construction

This growth rate represents the largest increase since the first quarter of 2021

Service sector fuels German employment growth, adding 229,000 jobs in Q2 2024

The total number of employed and self-employed individuals rose to 46.1 million

U.S. inflation slows to 2.9 percent, lowest in over 3 years

Fed rate cut likely as inflation continues to decline

China’s foreign trade hits $3.46 trillion in Jan-Jul 2024, defying economic headwinds

The country's exports rose 6.7 percent year-on-year to 14.26 trillion yuan during the period

Stock markets tumble on U.S. recession fears: Nikkei falls 12.4 percent, European shares near six-month low

Goldman Sachs analysts have increased their 12-month U.S. recession odds by 10 percentage points to 25 percent

Spain fines Booking.com over $446 million for alleged anti-competitive practices

Booking.com will appeal the "unprecedented" decision, arguing it offers valuable programs to support accommodation partners

Eurozone inflation unexpectedly rises to 2.6 percent in July; will ECB cut rates?

The eurozone's service sector inflation declined to 4 percent from 4.1 percent in June

Eurozone GDP rises 0.3 percent in Q2 2024, exceeding analyst projections as Germany unexpectedly shrinks

Germany, Eurozone's biggest economy, unexpectedly contracted 0.1 percent in Q2

EU agri-food trade surplus reaches $5.43 billion in April 2024, driven by higher prices and increased exports

Exports reached €19.8 billion ($21.5 billion), mainly due to increased prices of olives and olive oil