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Category: Global Economy
The countries of the Shanghai Cooperation Organization (SCO) have agreed to establish the SCO Development Bank and seek fundamental reform of the international financial architecture, Logos Press reported.
Europe is still playing a “supporting role” on the world stage, and calls for radical changes for the sake of increasing the competitiveness of the European Union remain unheard, according to European experts, – reports Logos Press.
Ukraine will not receive gas from Azerbaijan and Greece via the Vertical Corridor in September: there were no willing to import fuel via this route, Logos Press has reported.
The French conglomerate, which owns 75 luxury brands such as Louis Vuitton, Dior and jewelry companies Bulgari and Tiffany & Co. is suffering from a slump in sales. The half-year balance sheet released in the summer of 2025 shows LVMH’s revenue fell 4% from the same period a year earlier. Profit from operations fell 15% to €9 billion, Logos Press reported, citing DW.
Russia has lost at least 17% of its oil refining capacity due to the AFU attacks, Reuters reported. According to its data, we are talking about production of 1.1 million barrels per day
US Vice President J.D. Vance expressed hope that the conflict in Ukraine will end in six months at the latest. He noted that Donald Trump had achieved more during his presidential term than his predecessor Joe Biden had in a few years, Logos Press reported citing RBC.
The European Union has transferred 4.05 billion euros to Ukraine in time for its 34th Independence Day, which is celebrated on August 24, Logos Press reported.
US President Donald Trump and Ukrainian leader Volodymyr Zelensky will meet at the White House today. As Trump intends to reach a quick deal, he will press Ukraine, Logos Press reported citing Bloomberg.
Negotiations between the presidents of Russia and the United States have ended in Alaska, but no deal could be reached. As a result, the shares collapsed in overnight trading,” Logos Press reported citing RBC.
The Eurozone continues to lag behind the U.S. in output growth and productivity, but economic trends are shifting in Europe’s favor, according to Logos Press.
Europe’s economic growth came to a near halt in the second quarter of 2025 and industrial output fell sharply, raising fears that the bloc’s economic recovery has already run out of steam, Logos Press reported, citing Euronews.
One in four German industrial companies in July 2025 recorded a drop in their own competitiveness compared to companies outside the EU, Logos Press reported.
