ECB Should Avoid Rushing Policy Moves Amid Uncertainty, Says Austria’s Kocher

By admin January 23, 2026 No comment

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The European Central Bank (ECB) should be careful about taking preemptive policy action in response to rising uncertainty, Austrian central bank chief Martin Kocher said in an interview with German outlet Platow. Kocher noted that while geopolitical risks have intensified recently, central banks should avoid committing to policy moves before risks clearly materialise.

Eurozone cuts interest rate for first time in 5 years

By admin June 6, 2024 No comment

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The European Union has become the second major economy this week to reduce its lending rate, indicating progress in addressing inflation. The European Central Bank (ECB) cut its main interest rate from a record high of 4% to 3.75%, following Canada’s decision to lower its official rate on Wednesday. This decision coincides with EU-wide elections, […]

Irish economy expected to grow in next two years

By admin March 27, 2024 No comment

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A prominent think tank, the Economic and Social Research Institute (ESRI), has projected solid growth for Ireland’s domestic economy in the next couple of years, driven by decreasing inflation and rising wages. They anticipate a 2.3% growth in modified domestic demand (MDD) for this year, followed by a 2.5% increase next year. MDD is a […]

German train drivers stage longest strike on record

By admin January 25, 2024 No comment

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Train drivers across Germany have initiated a strike, set to endure six days, making it the longest stoppage in their history. The GDL rail drivers’ union called for the walkout, impacting both passenger and goods-train services starting at 02:00 on Wednesday. This move exacerbates an ongoing dispute with the state-owned Deutsche Bahn, leading to the […]

Maersk cuts 10,000 jobs as shipping demand falls

By admin November 4, 2023 No comment

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One of the world’s largest shipping companies, AP Moller-Maersk, has announced plans to cut an additional 3,500 jobs, following a previous reduction of 6,500 positions earlier in the year. The decision comes as a response to diminished demand and reduced freight rates. Maersk experienced a significant decline in profits, plummeting by 92% during the latest […]

Russia hikes interest rates to 15% as inflation soars

By admin October 28, 2023 No comment

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The Central Bank of Russia has raised its key interest rate to 15% in an effort to tackle inflation and support the struggling rouble, marking the fourth consecutive increase. The unexpected two-percentage-point hike was prompted by the persistently high global inflation rates, partly triggered by Russia’s military intervention in Ukraine, which has led to a […]

Threat to Ships in Ukraine Conflict Causes Soaring Wheat Prices

By admin July 20, 2023 No comment

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Wheat prices on the global markets have experienced a sharp rise following Russia’s declaration that it would consider ships heading to Ukrainian ports as potential military targets. This decision came after Moscow withdrew from a UN agreement that guaranteed safe passage for grain shipments through the Black Sea. In recent nights, Russia has launched attacks […]

Cuba Turns to Longtime Ally Russia Amidst Devastating Fuel Crisis

By admin July 5, 2023 No comment

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Cuba’s current fuel crisis has prompted the country to seek assistance from its historical ally, Russia. Cuban taxi driver Jorge Lloro, who drives a Soviet-era Lada, is reminded of the strong ties between the two nations. During the Cold War, around 100,000 Lada cars were imported to Cuba as a way to circumvent the long-standing […]

“Horrendous new normal”: Millions skip or reduce their calorie intake

By admin June 20, 2023 No comment

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According to the Joseph Rowntree Foundation, individuals in Britain are being forced to make hard decisions due to extreme food inflation and inadequate public assistance. According to a charity, millions of people in Britain are being forced to reduce or miss meals due to the rising cost of living.  According to the Joseph Rowntree Foundation […]

Beyonce’s Stockholm performance may have contributed to Sweden’s unexpected inflation

By admin June 15, 2023 No comment

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According to economists, the concert may have led to a price increase, but other reasons are also at work. Sweden’s inflation in May surpassed estimates, likely due to a jump in accommodation rates caused by Beyonce’s concert at the Friends Arena in Stockholm. Statistics Sweden figures released on Wednesday show an 8.2% year-on-year increase in […]