When some think of railroads, we think of 19th-century locomotives and men in overalls shoveling coal into engines. While that view is certainly outdated, railroads are still an integral part of society’s functioning. However, opinions on trains are divided depending on where you are located on the globe. In the US, they’re mostly thought of …
According to recent estimates from a team of researchers that included two staff economists from the International Monetary Fund, the U.S. unemployment rate may need to go to as high as 7.5% in order to stop the nation’s outbreak of high inflation. The analysis concluded that only under “very optimistic assumptions” about the behavior of …
According to a top government official, Russia’s economy will have a less severe decline than anticipated over the following years and may begin to expand on a quarterly basis as early as the end of 2022. According to Russian news outlets, Economy Minister Maxim Reshetnikov stated that the administration was now predicting a 2.9% …
Russia Anticipates Higher Economic Returns This Year Read More »
If the United States enters a recession, Asia will not be spared, but some Southeast Asian countries may be hurt more than others, economists warn. The war between inflation and recession continues in the United States as the Federal Reserve maintains its aggressive position on interest rate hikes. The United States has already seen two …
The U.S. recession will most certainly harm Asia Read More »
Electric vehicles are headed to be the next big thing in the automotive industry. After Tesla paved the way, many car makers jumped on the trend and started their own EV production. That’s a sound move, especially when you consider the stock market. Many believe Tesla to be significantly overvalued. Even Bill Gates has a …
If you’ve been following news in 2016 in the slightest, you’re likely aware of Brexit’s impact on the UK. It was the talk of the town, with many aspects of the UK’s economy suffering damage that would take years to repair. However, with the current questionable future of the UK economy, the pound is in …
One of the main gripes with adult life in the US is that the housing market is out of control. Rent is rising sharply, especially in major cities, while wages haven’t nearly caught up. Not many Americans in their 20s and 30s even dare dream of buying a home due to the constant skyrocketing prices. …
Time to Buy a House? Housing Market Weakens Slightly Read More »
The ruble increased 0.1% versus the dollar at 59.80 at 0810 GMT. It hit 60.41 as it rose from a nearly four-week record level of 57.70 on Friday. Versus the euro, it accumulated 0.1% to 59.40. Meantime, the euro also fell to a new two-decade low versus the dollar. Alfa Bank noted that the ruble …
According to figures released on Thursday, Turkey’s annual inflation hit a two-decade high of 69.97 percent in April, fueled by the Russia-Ukraine conflict and soaring energy and commodity costs following last year’s currency fall. Just over a year before presidential and legislative elections that might end President Tayyip Erdogan’s lengthy reign, the price rise …
Erdogan In A Dilemma, Turkey’s Inflation Reached 70% Read More »
For more than half of their crude imports, most Eastern European nations still rely on Russia. With the decision to cut off Russian oil shipments, European countries already suffering from record inflation risk exacerbating their predicament. While European Commission President Ursula von der Leyen promises that the planned embargo will be implemented “in a …
The Eu’s Oil Embargo Risks Escalating Already High Inflation Read More »
By delving into its limited dollar reserves, Russia looked to avoid defaulting on its international debt. The debt crisis in Moscow, however, is far from ended. Russia’s finance ministry said Friday that it had transferred $564.4 million to a Citigroup account for a bond due in 2022, and $84.4 million to a Citigroup account for …
In comments about ‘denazifying’ Ukraine, Sergey Lavrov indicated Hitler had Jewish origins, prompting Israel to demand an apology. Israel has condemned Russian Foreign Minister Sergey Lavrov for making “unforgivable” remarks on Nazism and anti-Semitism, including that Adolf Hitler had Jewish ancestors, and demanded an apology from Moscow. Israel summoned the Russian ambassador for “clarifications” …
Israel Slams Russian Foreign Minister’s Anti-Semitic Note Read More »
Amina Mohammed of the United Nations described the Russia-Ukraine situation as “a major jolt to the system.” Mohammed also leads the Global Crisis Response Group on Food, Energy, and Finance, which he previously chaired as Nigeria’s minister of environment. It was established by United Nations Secretary-General António Guterres to examine the larger effects of …
Scott Morrison has acknowledged that costs of ordinary things are rising. Still, he has emphasized that this is due to external reasons. On Friday, Opposition Leader Anthony Albanese emerged from COVID-19 solitude; hence, the campaign trail’s attention shifted back to growing living costs. According to the prime minister, increased inflation and strain on household budgets …
Bloomberg reported that Russia’s Gazprombank rejected a ruble payment from a trading business Germany had seized from Moscow. The payment was for gas deliveries to Germany and Austria in April and May. Russia cut off gas supplies to Poland and Bulgaria on Wednesday. According to Bloomberg, Russia’s Gazprombank turned down a ruble payment from a …
Russia Rejects Germany’s Ruble Payment and Supply To Poland Read More »
