German factory orders down sharply

Factory orders in Germany dropped 5.3 percent in November compared with the previous month, on a sharp drop in foreign demand, official figures showed on Jan. 6.

New orders, an important indicator for Europe's biggest economy, dropped for the third time in four months following a 0.6 percent uptick in October.

Automotive industry targets $34 billion in exports this year

Türkiye's automotive industry aims to generate $34 billion in export revenues this year, the Automotive Industry Exporters' Association (OİB) has said.

"Despite the economic slowdown in Europe, our largest export market, and changes in demand conditions, we managed to increase our export revenues both in December and the whole of 2022," said Baran Çelik, president of the OİB.

Gas Prices in Europe Fall below 70 Euros/MWh for the First time since the Beginning of Russia’s Invasion of Ukraine

Natural gas in Europe continues to fall in price at the start of the new year, falling below €70 per megawatt-hour (MWh) for the first time since the beginning of the military invasion of Ukraine, which Russia launched on February 24, 2022.