World & Politics
Japan intends to limit imported technology in infrastructure after US Colonial Pipeline hack - 05/18/2021
Japan's government will introduce amendments to laws that will require organisations in 14 key infrastructure sectors to consider national security risks when using imported equipment or services, the Nikkei newspaper reported, citing its own data. The authorities intend to monitor compliance with the rules and suspend or revoke licences in case of violations. Nikkei cites the telecoms, energy,...
Crypto-billionaire Vitalik Buterin donates over $1B to aid India - 05/14/2021
Ethereum creator and the world's youngest crypto-billionaire Vitalik Buterin donated more than $1 billion in cryptocurrencies to pandemic India foundation COVID-Crypto Relief and other organizations. At the same time, the tokens donated by Buterin have plummeted in value because of his actions. The co-founder of blockchain platform and cryptocurrency Ethereum Vitalik Buterin donated over $1...
UN improves global GDP growth estimate for 2021 to 5.4% - 05/12/2021
World economic growth in 2021 is expected to be 5.4%, according to the UN Global Economic Monitoring Division's mid-year report. The global GDP growth forecast was improved to 4.7% in January. The decline of the global economy in 2020 was 3.6%. Economic recovery in China and in the US has improved global growth prospects, but they are threatened by an increase in the coronavirus infections and...
US authorities declare regional emergency due to Colonial Pipelines hack - 05/11/2021
The US authorities have declared a regional emergency following the suspension of operations by Colonial Pipeline, the largest operator of the United States fuel pipeline. Earlier, Colonial Pipeline said it had suffered a cyberattack. In response, the company shut down some systems "to contain the threat, which temporarily halted all pipeline-related operations and affected some information...
Pfizer chief: low-income countries refuse to buy vaccines - 05/10/2021
Low- and middle-income countries have opted not to order the vaccine developed by Pfizer and BioNTech, Bloomberg reported, citing a letter from Pfizer chief executive Albert Bourla. Earlier, the World Health Organisation said that equal access to COVID-19 vaccines globally was failing. "We have asked all countries to place orders so that we can allocate doses for them. In fact, high-income...
Chinese banks become the world's second-largest sponsor of deforestation - 05/05/2021
Despite statements by China's leaders and personally by President Xi Jinping about the country's ambition to become a global leader in combating climate change, China is still one of the leaders in sponsoring deforestation. According to a coalition of non-profit organisations Forests & Finance, between January 2016 and April 2020, Chinese institutions provided $15bn in loans and underwriting...
WHO: Vaccination of majority of population will cost $35-45B - 05/04/2021
The World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus said it would take up to $45 billion to provide vaccines against the coronavirus to most adults worldwide by 2022. He said vaccine production must also be ramped up to achieve population immunity. Mr Ghebreyesus said more cases of COVID-19 had been detected in the past two weeks than in the first six months of the...
US to ban menthol cigarettes - 04/30/2021
The US Food and Drug Administration (FDA) is going to ban menthol cigarettes and cigars with any flavouring, the agency said in a statement. The FDA reportedly plans to develop new standards for tobacco products within the next year to ban menthol cigarettes as well as cigars with any flavouring. According to a press release, the agency's decision is based on a number of scientific studies that...
Heirs of South Korea's richest billionaire will pay nearly $11B in inheritance tax - 04/29/2021
The heirs of South Korea's richest billionaire and ex-Samsung chief will pay nearly $11bn in inheritance tax to the state. This is more than half of the billionaire's capital at the time of his death. The family of Lee Kun-hee, the former head of Samsung has revealed how it plans to pay tax on inherited property six months after his death. The businessman's heirs will pay more than 12 trillion...
JPMorgan says it regrets decision to sponsor European Super League - 04/26/2021
JPMorgan has expressed regret over its intention to finance the European Football Super League. The bank admitted it had misjudged the football community's reaction to the deal and its implications. U.S. bank JPMorgan said it regrets its decision to support Europe's top football clubs in creating the Super League, Reuters reports. A spokesman for the bank said the organisation had "misjudged how...
