Italy has officially informed China that it is withdrawing from the Belt and Road Initiative (BRI), marking a significant shift in its international economic alliances.
Europe
Hungary Central Bank Makes Another Rate Cut as Inflation Drops
The central bank of Hungary is expected to press ahead with monetary easing in 2024 due to the sharp drop in inflation last month.
Shipping Giants Maersk, Hapag-Lloyd Begin Rerouting Ships to Avoid Red Sea as Houthi Attacks Increase
Following a series of attacks on ships in the Red Sea by Iranian-backed Houthi militants, shipping giants Maersk and Hapag-Lloyd have rerouted their vessels, opting for the longer Cape of Good Hope route in South Africa.
Ukraine Forced to Cut Military Operations as Foreign Aid Runs Out
As foreign aid starts to dry up, a top Ukrainian commander said Ukraine had to downsize its military operations in the war with Russia.
Oil Giant BP Pauses All Tanker Transits Through Red Sea Due to Houthi Attack Fears
Oil giant British Petroleum (BP) has temporarily halted all its tanker transits via the Red Sea after attacks on ships by Iranian-backed Houthi militants based in Yemen escalated.
Latest News
The European Commission has proposed a three-year delay in implementing tariffs on electric vehicles (EVs) traded between the United Kingdom (UK) and the European Union (EU).
Denmark is poised to withdraw its largest denomination, the 1,000 crown banknote, from circulation. Denmark, a nation where cash transactions have become increasingly rare, is poised to withdraw its largest denomination, the 1,000 crown banknote, from circulation by May 2025.
Germany is reportedly grappling with an economic slowdown that is now impacting its labor market. Germany, Europe's largest economy, is reportedly grappling with an economic slowdown that is now impacting its labor market.
Military spending within the European Union (EU) reached a historic high of €240 billion ($261.8 billion) in 2022, marking a 6% increase from the previous year.
SEP Announces Investment in Communications Technology Leader Scottish Equity Partners (SEP) has completed a £25 million investment in Redwood Technologies Group (Redwood), acquiring a minority stake in the UK-headquartered international provider of communications technology and cloud contact centre solutions.
Softbank to invest 460 million euros in Germany's Auto1 Japan’s Softbank will invest 460 million euros ($561 million) in used-car dealing platform Auto1, marking the first investment in Germany by its Vision Fund, according to sources familiar with the matter.
Iceland Investing $1 Billion on Increasing Airport Capacity A tourist boom has caused traffic at Iceland’s Keflavik airport to grow more than five-fold over the past nine years, with a predicted 10 million passengers this year.
Five regions under Belgium's federal system are considered to play key roles in signing off the Brexit trade deal. The intervention from those five regions could delay or block the deal.
A City Deal bid that will benefit the Swansea Bay City Region has been submitted for approval of UK government. The City Deal bid is expected to create thousands of jobs for the people across the region.
