Global oil demand reports show unbalanced statistics due to different analyses in two consecutive months of 2024. The International Energy Agency (IEA) states that global oil demand will decline by 2030. The report explains that fossil fuel demand may be diminishing. Further, it would not support fuel consumption beyond 2030 in countries like China, the USA, and Africa. Another report by data analytics firm Enverus doubts IEA's predictions regarding the global fossil fuel demand by 2030. In contrast to IEA's report of 2024, Enverus states that global oil demand will level off by 2030, however, at a slow pace compared to the predicted analysis by IEA in 2024.
International energy agency predicted a sharp decline of 15 percent in the global…
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Indian economy is facing new challenges at the end of the month of 2024. India's gross domestic product (GDP) expanded to 6.7 percent in the second quarter of 2024. From April to June 2024, the Indian market began to shrink continuously. It led to a minimal increase in GDP of around 5.4 percent.
Economists projected that it is India's lowest recorded GDP rate since the last quarter of 2022. However, India continues to be the fastest-growing economy in the world even after its GDP dropped in the previous year. India is taking necessary actions to achieve 6.5-7 percent for the financial year 2024-2025. The country is expected to maintain a healthy GDP growth soon. Researchers analyze that increasing consumer spending in the rural Indian…
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There is a global race to clean energy sources because of climate change in 2024. However, there is a danger that the impending metal supply crisis will offset this gain. The move to renewable energy technologies greatly depends on critical minerals, including lithium, nickel, cobalt, and other rarer earth elements. However, with all these constraints and the demand increasing, the efforts towards the clean energy revolution are very much in jeopardy.
Lithium from the International Energy Agency (IEA) suggests that there will be increased demand for lithium that will grow to 40 times more than today, with the year 2040 being the target, with the significant factors being electric vehicle consumption and battery consumption. Furthermore…
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Chinese market goes through significant economic changes in 2024. Globally, Chinese brands are climbing the ladder higher in the market. A 2024 survey shows the performance of some Chinese companies with the highest brand value. These companies help to improve the Chinese tech sector. Further, these brands will set global benchmarks driving Chinese economic growth.
According to the survey conducted in 2024, Chinese tech company Tencent is of the highest brand value. The company is valued at USD 129 billion, according to the survey results. It is best known for managing the WeChat app. Further, a reputed source mentions that WeChat drives the Chinese tech sector economically. Tencent is followed by Moutai and Alibaba, with a USD 87.3 and…
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China rightfully takes center stage in progress in ultra-fast charging EV batteries. As it appears, a Chinese electric vehicle manufacturer has emerged as a clear industry leader by developing the fastest charging battery in the world that can go from 10 to 80 percent in 10.5 minutes. This revolutionary technology is of their new lithium iron phosphate (LFP) batteries, which are comparatively quicker to charge, safer, and more eco-friendly than nickel–cobalt–manganese batteries.
This model, the Zeekr 007, which the company aims to commercialize, will come with new battery technology enabling the car to add 265 km of range after 5 minutes of charging and 582 km range after a little over 15 minutes. Even more, Zeekr installed over 2700 of…
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Insurer executives worldwide report that generative AI is critical to maintaining their edge in the insurance market, and as such, 77% of them rank its significance. But customers, in this case, the clients of insurance companies, are more cautious: only 29 percent of clients of the generative AI trust virtual assistants to serve them in such capacity. An IBM study conducted in 2024 sheds light on the relationship between customers' wishes for the personalization of risk products and the customer experience that insurance companies focus on.
The study considers different groups from the survey and draws various results. One that consisted of 1,000 C-suite executives from the insurance industry and another group of 4,700 customers showed…
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The United Nations Environment Programme (UNEP) claims limiting the increase in global average temperature to 1.5 degrees Celsius is quite unrealistic. The emission rate from different industries shows various results in the reports published by UNEP in 2024. This report covers quite a wide range of emissions shortfalls, especially regarding the current country pledges and their ability to meet the targets laid down in the Paris Agreement concerning the requisite emission reductions.
The report also points out fossil fuel use as an example of a significant cause of greenhouse gas emissions in one of the areas of concern: the energy sector. There are also other sources of emissions, like industrial activities related to cement and steel…
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In 2024, several changes are taking place in the industrial sector globally. Recently, the United Kingdom revealed its future wind industry plans to support clean energy transitions. As estimates indicate, the United Kingdom's floating wind industry is on the verge of growth; in less than three decades, it could create, perhaps, 97000 jobs and contribute 47 billion pounds to the economy by the year 2050. This tremendous upsurge is bound to change the face of the country's energy sector by reinforcing the UK's leadership position in renewable energy. The British government has pinpointed floating offshore wind technology as a priority, with Energetics Secretary Ed Miliband underlining its significance in actualizing this vision of making…
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Generative AI brings revolutionary changes to the tech world. Its advancements are skyrocketing to provide better services in the platforms like ChatGPT. It is the growing platform in the world of generative AI. There is a compelling usage of artificial intelligence's application in different industrial sectors in 2024. In the world of technology, ChatGPT is attracting much attention. The company behind the application, OpenAI, has been estimated to be worth USD 157 billion due to receiving a USD 6.6 billion investment fund. This funding has brought OpenAI to fame, especially since it was able to collaborate with Apple for the Apple Intelligence feature.
According to an organization's survey, ChatGPT tops the chart, leaving other…
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The introduction of generative artificial intelligence in 2024 has ignited a new surge, thereby laying the groundwork for an even more dynamic 2025. The global cloud infrastructure industry is experiencing a significant resurgence in growth, primarily due to the increasing adoption of generative artificial intelligence technologies. Over the past few years, cloud infrastructure services have experienced rapid growth as companies transitioned their IT operations to the cloud. According to Synergy Research, the sales of cloud infrastructure services increased from less than $50 billion in 2017 to $330 billion in 2024.
Reflecting a 22 percent year-over-year gain, industry sales grew to $60 billion in 2024. The explosion of generative… View More
With its innovative R1 model, which launched in January to amazing praise, Chinese firm DeepSeek has upended the global artificial intelligence scene in 2025. Designed at a fraction of the expense of competing systems, DeepSeek‐R1 has strong mathematics, coding, and logical ability. With only over US$6 million, the model's shockingly cheap training cost has rocked the sector, upsetting entrenched heavyweights, Reuters says, and heralding an age of 2025 AI innovation marketplaces worldwide.
As DeepSeek‐R1 launched in 2025, market responses were quick and strong. While semiconductor giant Nvidia plunged around 17 percent in one trading day, the Nasdaq sank about 3 percent. Analyzers blame the fall on declining demand for costly high-end…
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Texas takes artificial intelligence seriously, although there's a catch – data centers are required to create their power plants to cope with the ever-increasing electricity demand in Texas power plants. During mid-winter and summer peaks, the Energy Reliability Council of Texas (ERCOT) even issued reliability and conservation warnings.
The far-reaching, insatiable demand for artificial intelligence (AI) is now pushing a shift in how energy is consumable, and this trend significantly affects data centers. In terms of utilization, it is predicted that within the next decade, due to the growth of the concentration of data centers, energy usage will make up 3-4 percent of the world's total energy consumption in the year 2030, up from 1-2…
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Tourism has become one of the dominant industries in the European Union in 2024. It is ranked in the top five ecosystems for employment and value creation. Tourism is vital to the European Union's economic development in 2024.
Tourism has a considerable contribution to employment in the European Union. It has over nineteen million jobs, making up around nine percent of the total EU employment. According to the survey, the Employment Sector Contributes up to 9.2 percent of the total employment in the EU, which continues to tumble over the years. The fact that the subsector has the potential to create many jobs at many levels means this sector promotes inclusive growth from employment in hospitality and travel agency services to arts and…
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Small businesses will come out to be the innovative value creators in the advanced economies in 2024. Recent studies show their importance by clarifying how much innovation is driven, how much such business closure alone can contribute to local development effects, or how such companies can ensure stability.
Globally, small enterprises create about 50% of the economy, with slightly greater values in developed economies than in developing economies in 2024. A recent survey conducted in advanced economies shows the favourable landscape of small businesses. This statistic underscores their capacity to adjust and respond to localization needs through inventions and development. For instance, in the United States of America, Germany, and Japan…
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In light of research relating to climate change, more climate finance is needed by the time of the for cop29, which happens to be the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change and is to be held in Baku Azerbaijan from November 11-22, 2024.
The COP29 Presidency has outlined a Framework for Action, where COP enhancements are seen in two critical areas. The goal – "enable action," highlights the importance of finance as a more significant enabler in implementing the aspiration of mitigation and deployment measures, as well as loss and damage action and building resilience. Climate change is now regarded as one of humanity's most challenging issues as it incorporates various…
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Demand for Oil Slows Down but Not a Crash
Global oil demand reports show unbalanced statistics due to different analyses in two consecutive months of 2024. The…
Ag-Tech to Shape India’s Shaking GDP Rates
Indian economy is facing new challenges at the end of the month of 2024. India's gross domestic product (GDP) expanded…
Supply Chain Disruptions causes Slow Clean Energy Transition
There is a global race to clean energy sources because of climate change in 2024. However, there is a danger that the…
Chinese Tech Sector Strengthens, may Dominate Western Big Techs in the Future
Chinese market goes through significant economic changes in 2024. Globally, Chinese brands are climbing the ladder…
China Plans to Manufacture Fastest Charging EV Batteries
China rightfully takes center stage in progress in ultra-fast charging EV batteries. As it appears, a Chinese electric…
Gen AI Revolutionizes Insurance Sector, Tries to Build Consumers’ Trust
Insurer executives worldwide report that generative AI is critical to maintaining their edge in the insurance market…
High Rate of Emissions from Cement and Steel Manufacturing in 2024
The United Nations Environment Programme (UNEP) claims limiting the increase in global average temperature to 1.5…
Wind Industry can Support UK’s Economy in 2024
In 2024, several changes are taking place in the industrial sector globally. Recently, the United Kingdom revealed its…
ChatGPT and Meta AI are Top AI Market Leaders in 2024
Generative AI brings revolutionary changes to the tech world. Its advancements are skyrocketing to provide better…
Gen AI Re-Accelerates Future Expansion of the Cloud Market
The introduction of generative artificial intelligence in 2024 has ignited a new surge, thereby laying the groundwork…
DeepSeek R1: How China’s AI Disruption Reshaping Global Markets in 2025
With its innovative R1 model, which launched in January to amazing praise, Chinese firm DeepSeek has upended the global…
Texas Get Ready for AI if Data Centers Ready to Build Power Plants in 2024
Texas takes artificial intelligence seriously, although there's a catch – data centers are required to create their…
Tourism Boosts EU’s Economic Development in 2024
Tourism has become one of the dominant industries in the European Union in 2024. It is ranked in the top five ecosystems…
Small Businesses Cover 50 Percent of Values in Advanced Economies
Small businesses will come out to be the innovative value creators in the advanced economies in 2024. Recent studies…
Developed Countries can Finance Climate Change Solutions in 2024
In light of research relating to climate change, more climate finance is needed by the time of the for cop29, which…
