The CEO of Total said that the global economic recovery from the Coronavirus pandemic may take two years, ruling out that oil prices will remain at their current high level of $70 a barrel. Patrick Boyan told local media, “I am not betting that prices remain at $70 a barrel. …

European stocks rose on Thursday, led by sectors seen as benefiting from a broader economic recovery as the US Federal Reserve indicated that it would maintain a loose monetary policy, while Standard Chartered shares fell as the bank’s annual earnings fell. The Bank of England lost 2.8% even after it …

The Pan American Health Organization said on Wednesday that the number of cases and deaths of Covid-19 in the United States decreased 30% in the past week and is declining in most South American countries, but the effect of vaccines will take months. WHO director Carissa Etienne urged governments and …

Japan’s Nikkei index closed on Thursday above 30,000, after comments by Federal Reserve Chairman Jerome Powell indicated that interest rates would remain low for a long time. The benchmark Nikkei index rose 1.67% to 30,168.27 points. The broader TOPIX index rose 1.22% to 1,926.23 points. Powell told lawmakers on Wednesday …

Oil prices extended their gains for the fourth consecutive session and reached their highest levels in more than 13 months, supported by the US Central Bank’s assertion that interest rates will remain low, and a sharp drop in US crude production last week due to the storm that swept across …

The US dollar sat near its lowest level in three years against riskier currencies on Thursday, February 25th, as signs of a continued easing of monetary policy by the US Federal Reserve sparked trading in assets that are rising thanks to the improvement in the economic cycle. The US currency …

Oil prices rose on Wednesday to their highest in 13 months after US government data showed that crude production fell due to freezing weather last week. The US production of crude oil fell by more than ten percent last week, equivalent to one million barrels per day, in the midst …

New US home sales increased more than expected in January, supported by record low mortgage rates and a severe shortage of existing homes for sale. The US Commerce Department report on Wednesday shows continued housing market support for the economy’s recovery from the COVID-19 recession. But momentum may ebb in …

The German Institute for Economic Research (DIW) said that Germany’s economy may shrink by about 1.5% at the beginning of the year, in light of the great damage that the general isolation measures to reduce Coronavirus infections affect the largest economy in Europe. The institute added that the high number …

Strong exports and solid construction activity helped the German economy grow 0.3%, better than expected, in Q4 of last year, but tightening isolation measures in the country and abroad clouded the prospects for Europe’s largest economy. The data released by the Federal Statistics Office today, Wednesday, represents an upward revision …