In a significant move to combat high electricity costs, a Bulgarian-led proposal aimed at enhancing energy interconnections in Southeastern Europe received broad support at COP29 in Baku on Wednesday. Initiated by Bulgarian Energy Minister Vladimir Malinov and endorsed by the leaders of eight countries, the project seeks to better integrate renewable energy sources and lower…
According to the data of the World Gold Council (WGC), in the third quarter of 2024, the total demand for gold (including OTC investments) increased by 5% compared to the same period of the previous year and reached 1,313 tons. This strength was reflected in the price of gold, which reached new record highs this…
Eurozone GDP rose 0.4% in the third quarter of 2024 from the previous three months, according to a report by the European Union’s statistical office, which presented preliminary data. In annual terms, the Eurozone economy grew by 0.9%. According to Trading Economics data, experts on average estimate that GDP would grow by 0.2% quarterly and…
Romania’s coalition government will raise the monthly minimum wage by 9.5% to 4,050 Romanian lei starting in January, according to a statement released by Romanian Prime Minister Marcel Cholaku after meeting with employers and unions. This is equivalent to approximately $884.61. For information, presidential and parliamentary elections are planned in Romania in November and December….
In August, retail sales in the Eurozone increased by 0.2% compared to the previous month. This is reported by the Statistical Service of the European Union (Eurostat). According to Bloomberg, the dynamics coincided with the average estimate of analysts. Sales of food, beverages, and tobacco products increased by 0.2%, and motor fuel by 1.1%. Sales…
The French government is preparing a temporary increase in taxes for large companies and wealthy individuals as part of a plan to reduce the budget deficit. The country’s authorities are planning spending cuts and tax increases of around 60 billion euros in 2025, and expect to reduce the budget deficit to 5% of GDP from…
In August 2024, the price of gold increased by 2.3% per month. New record highs in the price of gold have become a regular occurrence in recent months – in August, the cost exceeded $2,500 per ounce for the first time. It should be noted that this time the situation is a little different. While…
The Eurozone economy experienced modest growth in the second quarter of 2024, according to the latest report from Eurostat, the European Union’s statistical service. The region’s Gross Domestic Product (GDP) rose by 0.2% compared to the previous quarter, reflecting a steady, if slow, expansion in economic activity across the bloc. This quarterly growth follows a…
From August 25, the Lithuanian Food and Veterinary Service (PVS) tightens control over Russian and Belarusian goods at the border points. In particular, it is known that enhanced checks will be carried out for human and animal health, and in the case of genetically modified organisms, to reduce the risks of harm to the environment….
The political forces in the ruling coalition of Latvia are at odds over whether a tax should be imposed on bank profits and, if so, in what form. Everyone agrees that budget revenues can be increased at the expense of the banking sector, but it is impossible to reach an agreement on the form. This…
