Browsing: Business
Markets opened higher Monday as investors awaited the Federal Reserve’s meeting, with key rate decisions and 2025 projections expected, while Nasdaq reshuffle pressured Super Micro and boosted MicroStrategy.
Drydocks World, in partnership with GE Vernova and 50Hertz, will deliver Germany’s Ostwind 4 project, connecting Baltic Sea wind farms to the grid with 2GW of renewable energy.
The Federal Reserve is likely to cut rates again next week, marking the third reduction since September, potentially easing financial pressure on borrowers while savings account yields remain competitive.
Business confidence among Japan’s manufacturers improved to 14 in December, surpassing market forecasts, while nonmanufacturers’ sentiment declined slightly, highlighting mixed economic signals.
Global trade will hit $33 trillion in 2024, driven by services sector growth, while goods trade lags behind, UNCTAD reports. Opportunities exist for diversification despite challenges.
The EU spent €381.4 billion on R&D in 2023, up 6.7% from 2022, maintaining an R&D intensity of 2.2%, with the business sector leading investment at 66% of total funding.
The ADB lowered South Korea’s 2025 growth forecast to 2%, citing a semiconductor slump despite rate cuts and policies. The projection aligns with IMF and OECD estimates.
Korea recorded its sixth monthly current account surplus in October, driven by strong semiconductor and car exports, with a $9.78 billion surplus, according to the Bank of Korea data.
The EU Commission commits €4.6 billion for cleantech projects, focusing on renewable hydrogen and EV batteries through the Innovation Fund, using revenues from its Emissions Trading System.
Adnoc Gas has awarded Worley the FEED contract for Bab Gas Cap facilities, aiming to increase UAE’s gas processing capacity by 20% and drive progress towards gas self-sufficiency.