Author: Euronews

The European Bank for Reconstruction and Development (EBRD) has unveiled surprising growth forecasts for Russia as it examines the impact of sanctions on the country. ADVERTISEMENTThe EBRD, which is holding its annual meeting in Yerevan, Armenia, has published its new growth forecasts for the regions it covers and highlighted how sanctions on Russia have impacted its economy.”I think it was unrealistic to expect that sanctions against Russia would lead to a deep economic and financial crisis, as many had hoped,” Beata Javorcik, chief economist of the EBRD, told AFP.Russia, which had economic growth of 3.6% last year, is expected to…

The White House said it was “deeply troubled” that parliament had passed the bill. The UK, Germany, Italy and France have also all urged Georgia to withdraw it. Source link

Despite Germany’s relatively good performance last quarter, the International Monetary Fund believes that structural issues such as aging and lack of investment remain. ADVERTISEMENTThe second estimate for the Eurozone quarter-on-quarter gross domestic product (GDP) report was released on Wednesday morning,  at 0.3% in Q1 2024, according to Eurostat, in line with market estimates. This was also a step up from the last two quarters’ -0.1%. Q1 2024 saw the eurozone experiencing the strongest GDP performance since Q3 2022.German GDP made an especially strong comeback, rising to 0.2% from -0.5% in the previous quarter. This was likely to have been due…

The call comes after the World Health Organisation said 9,000 Palestinians need urgent medical evacuation from the war-torn enclave. Source link

Although the current higher interest rate environment is favourable for Commerzbank, things could change if the European Central Bank decides to cut rates this summer. Source link

The EU’s 720 lawmakers will spend the next five years pondering issues including a digital euro and capital markets reform – but which MEPs will likely stand out? ADVERTISEMENTElections to the new European Parliament are now just weeks away, and headline polling suggests there’ll be a swing to the right.But alongside the party politics, MEPs can also have a personal spin on lawmaking, championing their own hobby horses and leading work on key pieces of legislation.With the rising cost of living and supporting economic growth ranked among EU citizens’ biggest concerns, and MEPs poised to consider major laws on capital…

The British fashion brand announces plummeting profits, with particularly poor sales reported in China. Source link

The statement came 24 hours after the law passed its third reading in the Georgian parliament. Source link

CEO Miguel López says the firm performed “as planned” in the second quarter, although the market remains “gloomy”. Source link

The European Broadcasting Union (EBU) is under further scrutiny after it was accused by two political parties of excluding them from its Eurovision election debate. Source link