Browsing: Business

Volkswagen AG has agreed in principle to sell its Osnabrück assembly plant to majority owner Aurelius Capital and co-owner Lower Saxony. After vehicle production concludes in 2027, the new owners plan to transform the site into a hub for security and

Russia’s non-resource non-energy industrial exports increased to $58.8 billion in the first half of 2026, driven by higher shipments of chemical products, metallurgy, and light industrial goods. Russian Federation Minister Anton Alikhanov confirmed these trade figures during briefings held alongside

A growing trade conflict has arisen between South America’s largest economy and the European Union following Brussels’ decision to cease all imports of Brazilian livestock and animal derivatives. The restriction was enacted after a deadline for complying with new EU

– Euro area annual inflation increased to approximately 3.3% in August 2026, up from 2.9% in July. The rate was 2.8% in June and 2.0% in August 2025. Eurostat issued the preliminary estimate on Sept. 1. Consumer prices grew 0.4%

A sudden surge in crude oil prices, driven by increasing geopolitical tensions in the Middle East, prompted a widespread decline in U.S. stock markets amid inflation fears. The Dow Jones Industrial Average fell 380 points as investors grappled with the

– The Bank of Russia predicts its average key rate will range from 13% to 15% in 2027 under a scenario emphasizing persistent inflation. This outlook is detailed in its Monetary Policy Guidelines for 2027 to 2029, with the central

– Russia plans to reach a production level of approximately 2.8 million vehicles annually by 2035 as part of its updated automotive industry strategy. First Deputy Prime Minister Denis Manturov announced this target on Aug. 31 during a sector-focused meeting.

– Oil prices declined again on Thursday, continuing a downward trend that has persisted over several sessions. Brent crude futures decreased by 41 cents, or 0.5%, reaching $87.43 a barrel at 0330 GMT, while U.S. West Texas Intermediate crude dropped

– In its revised fiscal plan, Hungary intends to keep the 2026 budget deficit at 7.5% of gross domestic product, adjusting spending strategies accordingly. The Hungarian Finance Ministry explained that the revised budget accounts for softer fiscal conditions, a severe

– The European Union recorded a €21.8 billion goods trade deficit in the second quarter of 2026, marking the bloc’s first quarterly deficit since the same period of 2023. Imports from outside the EU reached €701.8 billion, while exports totaled