The World Bank Group believes that the global economic recovery in 2021, from the Coronavirus pandemic, is set to be slower than initially expected due to the rising number of new cases and renewed lockdown measures. The global gross domestic product (GDP) is expected to expand by 4% in 2021, …

Ripple Labs is being sued by Tetragon Financial, an investment company in the United Kingdom (UK), after the United States Securities and Exchange Commission (SEC) claimed that XRP was sold improperly, Bloomberg reported. The lawsuit was filed under seal late on Monday in the Delaware Chancery Court. Tetragon Financial Group …

Saudi Arabia is reportedly proposing more output cuts during the month of February during the OPEC+ summit, Reuters reported. The Kingdom believes maintaining production curbs is essential to restoring the global oil market balance, despite an improved outlook due to the rollout of Coronavirus vaccines. This comes as worries about …

The International Monetary Fund (IMF) is seeing the global economy beginning 2021 in a better position compared to what was expected in 2020 due to the Coronavirus pandemic. The IMG chief economist Gita Gopinath told CNBC on Tuesday that the world’s economy is starting the New Year at a somewhat …

General Motors (GM), which is listed on the New York Stock Exchange (NYSE) on Tuesday reported a 4.8% rise in sales across the United States during the fourth quarter (Q4) of 2020, Reuters reported. The rise in sales is supported by increased demand for new motor vehicles during the Coronavirus …

Factory activity in the United States expanded to its highest level in nearly two and a half years during December, with the American economy recovering from the impact of the Coronavirus pandemic. The pandemic is reportedly leading to increased demand for goods compared with services, however, the rising number of …

European stocks closed lower on Tuesday, after a mixed performance and fluctuating through the second session of 2021. The STOXX Europe 600 index finished down by 0.2%. In the UK. The FTSE100 index rose by 0.61%, showing a positive performance supported by an improved sentiment after the completion of the …

The US Dollar (USD) continues to decline on Tuesday, amid improved risk sentiment among investors supporting other currencies. The Dollar Index (DXY), which measures the greenback performance against a basket of six major international currencies, is down by 0.17% at 89.72. The index has been moving today in a range …

Crude oil prices finished Monday on a lower note, amid anticipation for the outcomes of the OPEC+ summit, which will resume on Tuesday. Saudi Arabia is calling for maintaining the output curbs, while Russia is asking for raising production in anticipation for demand recovery. Brent crude futures for March delivery …

The crude oil market is seeing rising concerns about the recovery of global demand amid another wave of the Coronavirus pandemic. A summit for the Organization of the Petroleum Exporting Countries (OPEC) and other major producers led by Russia, an alliance known as OPEC+ is discussing output policy for the …