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The US dollar's position as the world's primary reserve currency has endured for over eight decades, weathering numerous economic crises, geopolitical shifts, and challenges from emerging economies. Despite periodic predictions of its decline, the greenback continues to dominate international finance, trade, and central bank reserves. Understanding why this supremacy persists requires examining the complex interplay of historical, economic, and institutional factors that reinforce America's monetary hegemony.Historical foundation and the Bretton Woods LegacyThe dollar's reserve currency status originated from the 1944 Bretton Woods Agreement, which established a new international monetary system...

ROMEItalian Premier Giorgia Meloni and EU Commission President Ursula von der Leyen on Friday co-chaired a summit in Rome focused on strategic investments for Africa, announcing EU-Italy shared agreements worth €1.2 billion ($1.38 billion).The two leaders reaffirmed their common ambition to deliver “impactful partnerships, drive high-quality investments, and unlock opportunities for African-led sustainable growth – anchored in mutual respect, long-term collaboration, and shared prosperity,” they said in a joint statement. The Rome event was attended by African leaders from Angola, Democratic Republic of Congo, Tanzania, and Zambia, including the chairperson...

TOUAX PRESS RELEASE        Luxembourg, 12th June 2025 – 5:45 pm EIB provides finance for Touax Rail’s investment plan Touax has announced a €50 million green loan – a loan that is entirely dedicated to climate action – from the European Investment Bank (EIB) for the freight railcars part of its business. The EIB, which is the EU climate bank, is backing Touax’s sustained commitment to clean freight transport by supporting the Touax Sustainable Transportation project. Touax Rail received the loan on 30 April 2025 with a term of 14 years, providing the company with the...

Elior Manier for OANDA The most volatile major currencies in 20252025 has proven to be an unusually volatile year for foreign exchange movements. The Trump administration and ongoing conflicts have led to frequent exchanges between world leaders and policymakers, while record-high tariffs are affecting global trade more significantly than we have seen since the 2000s.Since 2020, the world has seen many disturbances compared to a much more geopolitically stable first part of the millennium. Between COVID-19, new conflicts around the globe, unprecedented central bank policies, and trade wars, there is...

Thousands Bulgarians took on the streets of the capital, Sofia, and other major cities on Saturday to protest government plans to adopt the euro and to demand a referendum on the issue (Image credit: AP) Thousands gathered in Bulgaria's capital Sofia and other major cities on Saturday to reject the country's plans to adopt the euro, the latest move by the eastern European country to strengthen its status in the European Union. Critics of the move are demanding that the government hold a referendum over whether the country should abandon...

By Nathan Vifflin AMSTERDAM (Reuters) -The European Union should quadruple its spending on chips and allocate a separate budget for it, industry group SEMI said on Tuesday in its official response to EU consultations for its upcoming investment budget. European lawmakers and industry groups are gathering momentum for a "Chips Act 2.0", pushing to quickly fill the gaps in the continent's semiconductor strategy. The 27-country bloc is consulting industry stakeholders, including the Brussels-based European arm of SEMI, as it plans its long-term spending for the period between 2028 and 2034,...