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Category: Global Economy
The United Arab Emirates plans to double its ability to export crude oil by bypassing the Strait of Hormuz by 2027. According to the Emirates’ press service posted on social network X, the Abu Dhabi National Oil Company is completing construction of a pipeline that will connect oil fields to the port of Fujairah in the Gulf of Oman.
“The pressure on Russia must not abate,” Moldovan President Maia Sandu said at the opening of the Council of Europe’s ministerial session, which saw the signing of a Partial Enlarged Agreement on the establishment of a Committee for the Management of the Special Tribunal for the Crime of Aggression against Ukraine.
The European Parliament will award the Order of European Merit for the first time. This is a new award established on the eve of the 75th anniversary of the Schuman Declaration to recognize contributions to European integration and the protection of EU values. Among the first recipients are 13 prominent politicians, diplomats and public figures, including President Maia Sandu, former German Chancellor Angela Merkel and former Polish President Lech Wałęsa.
The International Monetary Fund (IMF) will send its staff to Ukraine in the coming weeks to check on progress in the implementation of economic reforms under the new 4-year, $8.1 billion Extended Fund Facility (EFF) program.
Export licenses to China for hundreds of U.S. meat processors, which were recently renewed after more than a year’s hiatus, are now listed as expired, according to Chinese Customs.
Experts from the U.S. Department of Agriculture (USDA) in the May report almost did not change the global oilseed balance for the ending 2025/26 marketing year, and focused on the first crop estimate for the 2026/27 season. The forecast predicts global record production, processing growth and a continued tight balance in the vegetable oil market.
In 2025, European businesses are facing the need to cut back on investment, causing the level of business investment in the EU to fall to its lowest level in 11 years. This fell to 21.8% by the end of 2025 (Q4).
The World Health Organization has confirmed eight cases of infection with the Andean strain of hantavirus among passengers and crew members of the Dutch cruise liner MV Hondius. A total of 11 people have been reported ill, three of whom died.
Kazakhstan fund “Samruk-Kazyna” took 22nd place in the list of 25 largest sovereign wealth funds in the world with assets of $88 billion.
Drivers of cars with foreign license plates will no longer be able to ignore traffic rules on Moldovan roads. The Parliament adopted a new legislative initiative that introduces a clear mechanism for cross-border data exchange.
The Turkish Foreign Ministry announced the start of direct trade with Armenia. The Armenian Foreign Ministry welcomed the announcement, noting that this is an important step towards the development of full-fledged and normal relations between the two countries. From now on, Armenian economic entities can import goods from Turkey directly in their own name, without intermediaries.
Romania’s economy contracted by 1.7% in unadjusted terms in the first three months of the year compared to the same quarter of 2025 and by 0.2% compared to the previous quarter, according to data released on Wednesday by the National Institute of Statistics (INS).
Honda posted its first annual loss in 70 years amid problems in its electric vehicle segment and the impact of U.S. trade tariffs.
Data from a fresh report by the International Organization of Viticulture and Wine shows a global decline in production. There are not many exceptions, most of them in Europe.
Data published on May 13 by Romania’s National Institute of Statistics (INS) showed that the country’s GDP fell by 1.7% in gross terms and 1.5% in seasonally adjusted terms compared to the same quarter of 2025.
US President Donald Trump has arrived in Beijing for a three-day visit – the first for an American leader in nine years.
The eurozone economy has slowed sharply, growing at an annualized rate of only 0.8% in the first quarter of 2026. However, the three countries are growing many times faster than the bloc.
Due to the conflict over Iran, a Japanese snack food manufacturer is forced to abandon brightly colored packaging. Calbee Inc. announced that some of its products will temporarily switch to a black-and-white design due to disruptions in the supply of components for color ink.
Rising global oil prices have supported Canada’s exports and fiscal revenues, but have also increased inflation risks and the economy’s dependence on trade relations with the United States. Additional uncertainty is created by a possible renegotiation of the trade agreement between Mexico, Canada and the United States (USMCA) and the threat of new U.S. tariffs.
An EU committee made up of experts from member states voted Tuesday to ban imports of Brazilian meat starting Sept. 3 because of the use of antimicrobial drugs to stimulate animal growth.
