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Faced with US and China, EU leaders call for competitiveness deal

The 27 leaders of the European Union have called for a "new competitiveness deal" to close the economic gap with its global rivals and reverse a worrying trend of industrial decline.

China

Germany's Scholz rules out decoupling from China

The three-day visit of Germany's leader to China comes after Beijing slammed the EU as “reckless” following investigations into whether state subsidies are giving Chinese companies an unfair advantage.

Economy

Markets round-up: Economic updates investors are watching this week

The week ahead spotlights crucial economic indicators on both sides of the Atlantic. In the EU, attention will be on inflation data, while, in the US, the focus shifts to job figures. These key metrics will provide insights into economic health, shaping market sentiment.

Economy

What's keeping egg prices high for Easter? It's not just inflation

In Europe, egg prices are 10% to 15% lower than last year but still about double what they were in 2021

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Economy

Why is inflation lower in Italy than the rest of Europe?

Italy's inflation rate rose to 1.3% in March compared to a year ago, albeit at a slower pace than anticipated.

Economy

Poland's annual inflation slows to lowest rate in five years

Lower prices for electricity, gas and other fuels helped Poland to slam the breaks on inflation.

Economy

Belgium pushes minimum wage over €2,000 with bid in for more

A hike in the minimum wage puts the country among the few in Europe where the minimum wage surpasses €2,000, as high taxes bite.

Focus

Leaders call for unified response to global problems at Baku forum

In partnership with Azpromo

Serving and former leaders met under the principles of solidarity, equality and inclusivity to exchange and find global solutions to global problems.

Economy

Dutch economy sees slight uptick in 2023 as disposable income rises

The Netherlands' GDP outgrew analysts' expectations in the final quarter of last year.

Business

With unsold grain piled high, Polish farmer faces uncertainty amid war

The disruption of Ukrainian exports via the Black Sea led to a massive flow of grain across Poland's border with Ukraine, driving down prices for food products while inflation has caused production costs and interest rates on loans to rise.

Markets

Gold passes €2000 an ounce level: What's the continuing allure?

In a week that saw 10 central bank meetings around the globe, gold prices surged to new record highs for the first time in the precious metal's history.

Economy

Bank of Japan ends opts for first interest rate hike in 17 years

Japan's central bank has decided to end its era of negative interest rates following signs that the country's decades-long deflation is coming to an end.

Egypt

European Union announces €7.4 billion package of aid for Egypt

European Union announces €7.4 billion package of aid for Egypt to fund efforts in curbing migration.

Economy

France's inflation figures dip but energy prices keep spark alive

France's inflation rate stood at 3% in February year-on-year, only 0.1% lower than the previous month.

Economy

Hardy Russian economy a key selling point as Putin plans reelection

“For most Russians, who choose to ignore the war, the economy is really the biggest issue,” one expert said.

Earth News

European leaders ‘outpaced’ by increasing risk from climate change

The situation is already critical as climate change leads to increasingly frequent and severe flooding, drought and rising sea levels. Without urgent action by governments and EU leaders the impact is likely to become 'catastrophic' over the coming years, the European Environment Agency warns.

Economy

India and EFTA sign $100 billion free trade deal

India and EFTA now need to ratify the agreement before it can come online, with Switzerland planning to do so by next year.

Economy

As Europe's economy languishes, when will the ECB cut interest rates?

While new figures confirm economic stagnation in the EU at the end of last year, eyes turn to predictions from Bank of America that the ECB will cut interest rates in June.

Economy

French industry tumbles at start of 2024

Insee said the 1.1% decline was largely due to significantly lower output in the transportation and automotive sectors.

Economy

China sets ambitious economic target but it won't be easy to achieve

China's premier has outlined plans to boost spending on developing advanced technology, fortifying the country's military and supporting the economy, among many other longstanding goals.