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Business
Weak dollar and supply concerns drive up oil prices
There was a notable rise in oil prices on Monday. This was due to a weaker dollar and supply concerns ahead of the European Union's embargo on Russian oil in December. This offset fears…
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Euro area inflation up to 9.1%, EU inflation up to 10.1% in August
Annual inflation in the euro area increased from 8.9% in July to 9.1% in August 2022. The rate was 3.0% a year earlier. In August 2022, the annual inflation rate in the European Union…
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Tunisia is expected to agree on an IMF deal by the end of October
The government's spokesperson said on Friday Tunisia hopes to reach an agreement with the International Monetary Fund by the end of October, following a wage agreement with unions. A 5%…
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PM Modi calls for diversified, resilient supply chains at SCO summit
At the 22nd SCO Summit today in Samarkand, Uzbekistan, Prime Minister Narendra Modi attended the event along with leaders from SCO countries. These included Russian President Vladimir…
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Despite the lowest unemployment since 1974, the UK jobs boom is fading
A fall in the workforce and other signs suggest that the country's jobs boom is petering out added to the Bank of England's inflation concerns. This is because the country's…
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European Central Bank raises interest rates by 75 basis points
Governing council of the European Central Bank (ECB) decided to increase the three key interest rates of the ECB by 75 basis points. As a result, the interest rates on main refinancing…
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Export growth in China sinks in August, while imports shrink
There was a drop in Chinese trade in August due to a decline in global consumer demand and a drop in domestic demand, as a result of high energy prices, inflation, and anti-virus…
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Death toll rises to 74 as China clears roads to the earthquake epicenter
In the southwestern province of Sichuan, where a 6.8 magnitude earthquake struck on Monday, Chinese state media reported that the roads leading to the epicenter have reopened. Traffic…
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As concerns over demand rise, crude oil falls to a 7-month low
As the impact of COVID-19 curbs in top crude importer China and expectations of more interest rate hikes spurred fears of a global economic recession and decreased fuel consumption, oil…
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Modi-led India to surpass Germany and Japan as 3rd largest economy by 2029
Indian economy will reach third place in the world by 2029. India will surpass Germany by 2027 and Japan most likely by 2029, according to a State Bank of India report. According to the…
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