Japan is considering banning all spectators from participating in the Olympics, Reuters reported on Wednesday, with authorities expected to declare a state of emergency in Tokyo to contain coronavirus cases 16 days before the Olympic Games. In this regard, Prime Minister Yoshihide Suga said that his government will decide on …

According to Russian news agency TASS, OPEC+ producers will not be holding a meeting this week to break the impasse in the output strategy. “This week will be difficult. Negotiations are in progress, and there are no signs yet that the meeting will take place this week. The problem remains …

The Suez Canal Authority signed an agreement with the company that owns the Panamanian container ship EverGiven on secret terms that were not disclosed, during a meeting held by the authority on Wednesday, July 7, in the presence of the Authority’s Chairman Osama Rabie and representatives of the Japanese company …

German Finance Minister Olaf Scholz said on Wednesday said that the global tax reform will happen “very quickly “and become a practice in 2023. “Do not expect hurdles to moving ahead with a planned global tax reform at a G20 meeting in Venice.”

The European Commission is out with its latest quarterly economic projections, raising the Eurozone growth and inflation estimates for this year while warning about the risks posed by new variants of the coronavirus. Raises forecast for Eurozone GDP growth to 4.8% in 2021 from 4.3%, to 4.5% in 2022 from …

The euro traded near a three-month low against the dollar on Wednesday after German data raised doubts about the strength of the economic recovery, while the US currency awaited the minutes of the Federal Reserve’s latest meeting. The single European currency was trading at $1.1820, after touching a three-month low …

Japan shares closed lower on Wednesday, hurt by chip-related stocks, as concerns about rising COVID-19 cases ahead of the Olympics dampened sentiment. The Nikkei index fell 0.96% to close at 28366.95 points, while the broader Topix index fell 0.86% to 1937.68 points. Chip-related stocks tracked the decline in the Philadelphia …

German industrial production fell 0.3% in May for the second month in a row, according to data released Wednesday, July 7, in a new indication of supply bottlenecks slowing the recovery in Europe’s largest economy. The German Federal Statistical Office said industrial output fell by 0.3%, unlike Reuters polls that …

Gold prices consolidated on Wednesday, July 7th, near the psychologically important $1,800 an ounce level, supported by lower US Treasury yields, while investors awaited the minutes of the Federal Reserve’s June meeting for more indications on its monetary policy outlook. Spot gold rose 0.1% to $1,797.84 an ounce, after hitting …

Saudi Arabia decided to raise the official selling prices for the month of August for all oil crudes designated to be sold to Asia. Saudi Arabia, the world’s largest oil exporter, set the August official selling price for its Arab Light crude at $2.70 a barrel, above the Oman/Dubai average …