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Category: Global Economy
In Venezuela, rescue workers continue to clear debris following two earthquakes measuring 7.2 and 7.5 on the Richter scale. According to official figures, the death toll has exceeded 1,450, and thousands remain missing. The 72-hour “window” during which people were most likely to be rescued from the rubble has now ended.
Head of the Bilbao Port Authority (Spain), Iván Jiménez, believes that the European Union needs to postpone the implementation of an embargo on Russian liquefied natural gas (LNG) to avoid the risk of excessive dependence on supplies from the United States. This was reported by the Financial Times.
The extreme heat could leave Spain without olives and the French without vineyards.
“Tit-for-tat” economic wars threaten global growth. The Financial Times reports on the views of outgoing IMF Chief Economist Pierre-Olivier Gourinchi regarding geopolitical fragmentation and the future of the global economy.
Ukraine has taken another step toward post-war recovery by signing 160 agreements worth over 10 billion euros at the Conference on Ukraine’s Recovery in Gdańsk, Poland. However, EU officials acknowledge that even large-scale investments will not yield the expected results unless the labor shortage is addressed.
Jarosław Kaczyński, leader of the Polish opposition party Law and Justice (PiS), called on the Polish government to block negotiations on Ukraine’s accession to the European Union. He made this statement amid a sharp deterioration in relations between Warsaw and Kyiv, according to the Financial Times.
The International Grains Council (IGC) has raised its forecast for global corn production in the 2026/27 marketing year to 1.31 billion metric tons. This is 10 million metric tons higher than the organization’s May estimate. However, the current forecast for the global corn harvest in the upcoming season is still lower than last year’s harvest of this crop (1.339 billion metric tons).
The Russian-appointed authorities in Crimea and Sevastopol have declared a state of emergency. The decision was made amid a worsening situation with fuel, electricity, and food supplies following a series of Ukrainian strikes on logistics and energy infrastructure.
The total value of public procurement procedures reviewed by the National Dispute Resolution Authority (ANSC) in 2025 exceeded 8.8 billion lei (approximately 450 million euros). This amount accounts for more than half of all public procurement in the country.
U.S. President Donald Trump has threatened to impose 100 percent tariffs if any European country decides to impose a digital services tax on American companies.
The U.S. launched strikes against Iranian military targets following an attack on a merchant ship in the Strait of Hormuz. As a result, the situation has sharply escalated since the ceasefire;
Ilie Bolojan, Romania’s acting prime minister, assigned staff members from the oversight body under the prime minister’s office to the Department for Relations with the Republic of Moldova (DRRM).
A total of 731 organized crime networks have emerged in the European Union, actively involved in drug trafficking, fraud, and cybercrime. This is stated in a new Europol report, which documents the rapid transformation of criminal organizations and the growth of their technological capabilities.
Finnish President Alexander Stubb has approved amendments to the Atomic Energy Act that lift the previous ban on the import, production, storage, and use of nuclear weapons within the country. The document has been published on the Finnish Parliament’s website, and the changes will take effect on July 1.
Portugal’s capital has been ranked among the least affordable housing markets in Europe: property prices there are nearly 19 times higher than the average annual household income. By this measure, Lisbon has surpassed Paris and London, trailing only Split, Croatia.
According to media reports, Volkswagen is preparing for the most radical restructuring in its history: up to 100,000 jobs could be cut worldwide—twice as many as previously reported. Four plants in Germany are at risk of closure.
King Charles III became the first reigning British monarch to officially disclose the amount of his personal tax payments. According to Buckingham Palace, he voluntarily contributed 12.9 million pounds to the national budget for the 2024–2025 fiscal year.
South Korea’s Samsung Electronics is considering a large-scale investment plan totaling about $700 billion over a ten-year period.
The European Commission wants to offer candidate countries, such as Ukraine and the Republic of Moldova, economic benefits prior to their accession to the EU.
The International Monetary Fund (IMF) confirmed a decline in energy and commodity prices following the conclusion of the U.S.-Iran agreement to cease hostilities and resume shipping in the Strait of Hormuz. However, the IMF noted that it will take time for supplies to fully normalize and return to pre-conflict levels.
