Japan recently avoided a technical recession, with revised official data indicating a return to growth in the October-December period of the previous year. The boost in the economy was primarily due to strong capital expenditure. Despite the positive growth, the upward revisions were not as robust as expected, as private consumption remained weak. The GDP
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In 2023, Saudi Arabia’s state oil giant Aramco reported a significant decline in profit, with a 25% drop from $161.1 billion in 2022 to $121.3 billion in 2023. This decrease was primarily attributed to lower crude oil prices, reduced refining and chemicals margins, as well as lower volumes sold. Despite this decline, Aramco’s net income
Artificial intelligence (AI) has been a game-changer for technology companies, but the benefits are not limited to this sector alone. Nancy Tengler, the CEO and CIO of Laffer Tengler Investments, suggests that a wide range of industries can reap the rewards of AI investments. While big-name tech companies like Nvidia and Meta Platforms have seen
In a recent turn of events, Apple has approved Epic Games’ developer account in Sweden, allowing the company to introduce a competing app store on iPhones in Europe. This decision comes under the new antitrust regulation, the Digital Markets Act, which aims to promote fair competition in the tech industry. Epic Games CEO, Tim Sweeney,
The European Central Bank recently announced a lowered annual inflation forecast and confirmed that they would hold interest rates steady. This decision was widely expected by market analysts and investors. ECB President Christine Lagarde indicated that market pricing for a potential rate cut in June was aligning with the policymakers’ outlook. The staff projections for
Federal Reserve Chair Jerome Powell recently addressed the looming question of interest rate adjustments, emphasizing that while rate cuts are expected this year, the timing remains uncertain. Powell’s prepared remarks highlighted the Fed’s commitment to carefully assessing incoming data, the evolving economic outlook, and the balance of risks before making any decisions regarding the target
Apple’s iPhone sales have taken a significant hit in the first six weeks of 2024, with a reported drop of 24% in China. This decline can be attributed to the fierce competition that Apple is facing from local smartphone brands such as Huawei, Oppo, Vivo, and Xiaomi. While Apple shares plummeted by more than 2%
China’s economy has been facing challenges, with the GDP growing at a rate of 5.2% in 2023. The recovery from the Covid-19 pandemic has been slower than expected due to factors such as a prolonged slump in the real estate market and falling global demand for Chinese exports. This has resulted in low consumer and
The recent decision by key OPEC+ producers, including Saudi Arabia and Russia, to extend voluntary crude supply cuts until the end of the second quarter has significant implications for the global oil market. This article will critically analyze the various aspects of this decision and its potential impact on oil prices and market dynamics. The
In response to the chaotic encounter between Israeli troops and Palestinians during an aid convoy, President Joe Biden has authorized emergency humanitarian assistance in the form of food airdrops over Gaza. The U.S. military C-130 cargo planes were deployed in the opening stage of this operation, dropping food in pallets over the region. This coordinated