World & Politics
German Minister: EU supports ECOWAS sanctions against Niger - 08/22/2023
The EU intends to implement restrictions as well, according to the German Foreign Minister. The European Union backs the Economic Community of West African States' (ECOWAS) attempts to end the Niger conflict, including the sanctions imposed by the group on the rebels. The German Foreign Minister, Annalena Baerbock, stated that the EU intends to implement comparable limitations. "We express our...
Japanese exports fall for the first time since 2021 - 08/21/2023
Japan's export exports decreased by 0.3% in yearly terms in July. This is the first decline since 2021. Reuters surveyed economists who predicted an even larger decline of 0.8%. Japanese exports increased by 1.5% in June. The fall coincided with a drop in demand for Japan's exported chip manufacturing machinery and light petroleum products. Future macroeconomic volatility and erratic growth in...
WHO reports 63% increase in COVID-19 incidence worldwide in 28 days - 08/18/2023
The World Health Organization reported that more than 1.4 million instances were found between July 17 and August 13. Between July 17 and August 13, more than 1.4 million people worldwide became infected with the coronavirus; more than 2,300 of them passed away. The World Health Organization (WHO) noted that while the number of deaths reduced by 56%, the number of infections rose by 63% over the...
Japan, USA and South Korea to create communication mechanism for semiconductor supplies - 08/18/2023
The nations will communicate and swiftly alert one another about any potential problems in the supply of batteries, semiconductors, and other components, the Yomiuri newspaper writes. The US, South Korea, and Japan are collaborating to develop a system of early warning and communication that will allow for the interchange of data on the availability of semiconductors and other high-tech...
Indonesia to allocate $2.7bn to build new capital city - 08/17/2023
It will be called Nusantara. Indonesia intends to invest $2.7 billion in the building of a new national capital in 2024, according to Reuters with reference to the administration. The majority of the monies provided are anticipated to be used for housing for government employees and infrastructural improvements. Supporting infrastructure will be finished in 2024," said the finance minister Sri...
Indonesia files lawsuit in WTO over EU duties on biodiesel imports - 08/16/2023
The Indonesian side claims that the European Union has varied import policies for the same commodity coming from different members of the organization. Indonesia has filed a complaint with the World Trade Organization (WTO) regarding the EU's countervailing taxes on imports of biodiesel. According to Indonesia, the EU's import levies on biodiesel violate various clauses of the WTO Agreement on...
China cuts interest rates for the second time in the last three months - 08/16/2023
According to Bloomberg, the People's Bank of China slashed key interest rates on August 15, for the second time in the previous three months. The bank reduced the one-year funds rate by 15 basis points this time, from 2.65% to 2.5%. This reduction is the most since 2020. The rate is presently at its lowest point since it was initially established in 2014. On August 15, the bank also reduced the...
Japan's GDP grows by 6% - 08/15/2023
Preliminary estimates of the country's government show that Japan's GDP rose by 6% on an annualized basis in the second quarter (assuming GDP had expanded at the same rate for four consecutive quarters). According to DailyFx's poll of analysts, growth would only be 3.1%. Japan's first quarter GDP increased by 3.7% year over year, and its fourth quarter GDP increased by 0.2%. Second-quarter...
Niger fail to pay $19M on bonds - 08/14/2023
The payments were due on August 11. Niger failed to pay $19 million In order to repay the subsequent issuing of its government bonds, UMOA-Titres, a credit structure of the West African Economic and Monetary Union (WAEMU), said. The payments were expected on August 11. After being sanctioned by the Economic Community of West African States (ECOWAS) and the Union of the African Monetary...
Hawaii's wildfires become the deadliest in the US in 100 years - 08/14/2023
89 people died in flames on the Hawaiian island of Maui, which made the current wildfires the worst in the US in more than a century. According to Reuters, the number of people killed in the Maui wildfires in Hawaii has increased to 89, which made the current events the worst in the country in more than a century. Local officials issued a warning that the number of victims might increase. The...
