Browsing: Business

– Russia is broadening financial support for its creative industries as the sector takes a larger role in the economy. Creative businesses generated 4.2 percent of Russian GDP in 2025, according to official figures. Their gross value added reached 8.26

Volkswagen AG has reached a preliminary agreement to sell its Osnabrück assembly plant to majority owner Aurelius Capital and co-owner Lower Saxony. After the planned conclusion of vehicle production in 2027, the new owners intend to transform the facility into a

During the first half of 2026, Russia’s exports of non-resource, non-energy industrial goods climbed to $58.8 billion, supported by increased shipments of chemical products, metallurgy, and light industrial items. The Ministry of Industry and Trade of the Russian Federation Minister

A new dispute in agricultural trade has arisen between South America’s largest economy and the European Union after Brussels decided to halt all imports of Brazilian livestock and animal derivatives. The ban was implemented after a deadline for complying with

– Euro area annual inflation increased to an estimated 3.3% in August 2026, rising from 2.9% in July. The inflation rate was 2.8% in June and 2.0% in August 2025. Eurostat announced the preliminary figure on Sept. 1. Consumer prices

A sharp decline in the Dow Jones Industrial Average was driven by a sudden rise in crude oil prices, which sparked a broad sell-off across U.S. equity markets amid inflation concerns. This drop of 380 points reflected traders’ apprehensions about

– The Bank of Russia forecasts an average key rate of 13% to 15% in 2027 under a scenario characterized by persistent inflation. This projection is part of its Monetary Policy Guidelines for 2027 to 2029. As of August 31,

– Russia plans to reach an output of approximately 2.8 million vehicles annually by 2035 as part of its revamped automotive industry strategy. First Deputy Prime Minister Denis Manturov announced this goal on Aug. 31 during a sector-focused meeting. The

– Oil prices declined once again on Thursday, extending a downward trend that has persisted over several trading sessions. At 0330 GMT, Brent crude futures decreased by 41 cents, or 0.5%, to $87.43 per barrel. Meanwhile, U.S. West Texas Intermediate

– The Hungarian Finance Ministry announced that Hungary will keep its 2026 budget deficit goal at 7.5% of gross domestic product as it updates its expenditure plans. The revised budget reflects deteriorating fiscal conditions, severe drought, and rising energy costs.