According to sources cited by Reuters, India is expected to face its worst power outage in 14 years in June as a result of a decline in the production of hydroelectric power. "India is forecast to have its biggest power shortage in 14 years in June following a slump in hydroelectric power generation," the newspaper writes. The agency's government source stated that additional delays in the...

The average worldwide temperature has increased by 1.2 degrees over the last four years, according to The Guardian. The world's top climatologists predict that global temperatures will rise by at least 2.5 degrees Celsius this century from pre-industrial levels, with disastrous effects on both the Earth and humans. There would be a minimum 2.5 degree Celsius increase in temperature, according...

Officials from the US, UK, and EU are applying pressure to the UAE regarding trade cooperation with Russia, according to sources cited by Reuters. The newspaper writes that Western nations are concerned that Arab businesses might be involved in supplying Russia with dual-use goods. According to people who spoke with Reuters, a number of Western diplomats traveled to the United Arab Emirates...

Chinese President Xi Jinping is visiting the EU for the first time in five years, and Beijing wants to show that it can provide "many more economic opportunities for the bloc than the U.S. wants to recognize," according to Bloomberg. On April 29, the Chinese Foreign Ministry declared that Xi Jinping would be making a working visit to the EU. According to the ministry, the president of China will...

The UN Food and Agriculture Organization (FAO) stated in a research paper that war, harsh weather, and economic hardships had made the state of food security in 2023 worse than it was in 2022. According to the report, 282 million people across 59 countries experienced severe hunger in 2023. There are now 24 million more people in this condition than there were in 2022. 135 million people...

The global energy transformation is necessary in view of the evolving reality, believes JPMorgan. Head of Global Energy Strategy at the bank Christyan Malek told the Financial Times, "We need to face the reality that the variables have changed. Achieving the net zero emissions target will take some time. Interest rates have increased significantly. Both the amount of government debt and the...

The Chinese Ministry of Commerce released a statement saying that China will take action in reaction to the United States imposing higher tariffs on Chinese steel and aluminum. China's Ministry of Commerce said in a statement that it "will take all necessary measures to protect its own rights and interests" in reaction to the hike in U.S. import tariffs on Chinese steel and aluminum.  The...

Global economic consequences could be severe if events in the Middle East worsen, as stated on Monday by Bruno Le Maire, the minister of economics in France. "Whether it is the events in the Red Sea, or escalation in the Middle East, or the continuation of the conflict in Ukraine, all these geopolitical events have a strong impact on economic growth," Le Maire said. In reaction to a recent raid...

In a statement issued on Sunday, the G7 leaders stated that if Iran and the forces it supports do not cease their attacks on Israel, the group is prepared to take further action. "We'll keep trying to bring the situation under control and prevent it from getting worse. In order to do this, we insist that Iran and its allies halt the assaults," reads the statement. "We are prepared to act...