NEWS

Latest updates

• Hydrogen will struggle to span beyond refining and industry

  • The refining industry accounts for close to half of global consumption of hydrogen, which is used primarily as an input material to clear impurities from hydrocarbons
• Big tech has recovered in 2023

  • Big tech companies have reported better results in 2023, as they reduced costs and the comparison with 2022 is more favourable
• Europe: elections to watch in 2024

  • Europe will see nine parliamentary elections in 2024, of which four are likely to result in a notable change in government and/or policy direction. We expect political fragmentation to remain a key trend in Europe next year. Governments are finding it increasingly difficult to command stable working majorities, and those countries governed by coalitions are likely to have to rely on large multiparty agreements.
• Israel faces heightened risk of escalation on other fronts

  • the risk of a conflagration remains large.An added complication is the growing friction between Iranian-aligned militias and US forces stationed in Iraq and Syria.& These militias have staged more than 45 attacks on US positions, injuring dozens and prompting at least three US retaliatory attacks, increasing the risk of a broader regional conflict.
• Even an economic recovery is unlikely to save Justin Trudeau

  • At the heart of the Liberals’ woes is public opinion of the prime minister, Mr Trudeau. He has had a net disapproval rating with the ARI since 2021, but this has widened from about 15 percentage points at the time of the last election to 33 percentage points in the most recent poll.
• A fractured Myanmar: the junta is down but not out

  • The offensive campaign known as Operation 1027, launched by the Brotherhood Alliance, an armed resistance pact comprising a number of militias, is emboldening Myanmar’s resistance forces nationwide.
• Worldwide Cost of Living: Singapore and Zurich top the ranking as the world’s most expensive cities

  • This year’s Worldwide Cost of Living survey found that, on average, prices had risen by 7.4% year on year in local-currency terms for over 200 commonly used goods and services.
• The war in Ukraine: EIU’s revised scenarios

  • Our baseline forecast remains unchanged: as exhaustion and heavy losses mount for both sides, the intensity of the conflict will gradually diminish. We expect the fighting to become concentrated in a few areas around the Donbas region in eastern Ukraine, with both sides fighting for control of Crimea and parts of the Donetsk, Kherson, Luhansk and Zaporizhzhya regions.
• US consumer financial strains continue to grow

  • US household debt rose to US$17.3trn in the third quarter, up by 1.3% quarter on quarter and by 4.8% year on year, according to the latest survey from the Federal Reserve Bank of New York. Credit-card debt in the first three quarters of 2023 was up by nearly 17% year on year, the largest increase on record.
• Global Outlook: predictions on the next phase of the Israel-Hamas war

  • In EIU’s latest Global Outlook video, editorial director of the Middle East and Africa, Pat Thaker, and senior analyst, Keren Uziyel, discuss predictions, potential outcomes and latest updates for the next phase of the Israel-Hamas war.

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