World & Politics
German government to buy out the country's largest power grid for €20B - 09/29/2023
According to Bloomberg, which cited its own sources, the German government and Dutch power grid operator Tennet Holding are close to finalizing a deal for the German government to purchase Tennet's entire German company. The agreement is expected to be worth around €20 billion. The largest grid in Germany is owned by Tennet, one of four businesses that govern the country's energy infrastructure....
UK to delay implementation of remaining Basel III elements by six months - 09/28/2023
According to a press release from the watchdog, Basel III's final components, the so-called Basel 3.1 requirements, will not be implemented in the UK for another six months. The British Central Bank states that the extension of the "Basel 3.1" deadline is intended to assist credit organizations with their planning. The transition period will be shortened to 4.5 years in order to guarantee full...
South Korea will increase aid to developing countries by 40% in 2024 - 09/21/2023
Seoul plans to take into account the needs and features of recipient states, according to President Yoon Suk Yeol. In 2024, the Republic of Korea will boost its provision of official aid to other nations by 40%, said Yoon Suk Yeol, the country’s President, while addressing the UN General Assembly during its 78th session. "The Republic of Korea is firmly dedicated to growing its aid. The...
Thailand's new government sets to raise annual GDP growth rate to 5% - 09/21/2023
According to Prime Minister Srettha Thavisin, Thailand is "lagging behind Vietnam" in the number of free trade agreements it has signed. The new Thai Cabinet wants to boost production and draw in foreign capital to reach a 5% annual GDP growth rate, said Thai Prime Minister Srettha Thavisin in an interview with Bloomberg. "As a nation, we have been closed for a time. I must ensure that everyone...
Natural Gas: A Critical Component of the Energy Transition - 09/20/2023
One far-reaching consequence of the Russian invasion of Ukraine has been the total transformation of global gas markets. A global Liquified Natural Gas (LNG) boom has taken place, with LNG markets surpassing the pipeline trade to the detriment of Russia, as Europe make strides in returning to energy normalcy. LNG, it seems, will have a key role to play in Europe’s energy transition. The European...
Over 90% of US adults cut spending in the last six months - 09/20/2023
In the previous six months, the vast majority of American people (92%) have reduced their spending, according to a Morning Consult survey cited by CNBC. The most frequent areas where respondents cut costs were grocery (54%), restaurants and bars (56%), clothing and accessories (63%), travel and vacations (53%), and gadgets (50%). Over half (55%) of respondents who reported having an annual...
The U.S. government debt exceeds $33T for the first time in history - 09/19/2023
The entire public debt of the United States has reportedly surpassed $33 trillion for the first time in history, according to the Treasury Department. The U.S. Ministry of Finance estimates that the country's total national debt is currently $33.044 trillion. The U.S. national debt had surpassed $32 trillion on June 16, 2022. The U.S. debt may probably approach $50 trillion by the end of this...
G20 GDP growth slows to 0.7% in Q2 - 09/15/2023
The Organization for Economic Cooperation and Development (OECD) said that the second quarter of 2023 saw a 0.7% growth in the GDP of G20 nations compared to the first quarter. As a result, economic growth decreased from the first quarter's revised 1% growth rate. According to the research, China's slowdown was mostly to blame for the deterioration of the recovery rate. After growing by 2.2%...
EC proposes new €50B support package for Ukraine - 09/14/2023
Ursula von der Leyen, Chair of the European Commission (EC), has suggested a new four-year aid program for Ukraine. She put the amount at €50 billion. Von der Leyen announced her plan during the annual State of the European Union (EU) speech's plenary session. She claims that such a degree of assistance will aid Ukraine in "rebuilding a modern and prosperous country" in the future. "We're...
Inflation in Argentina hits its highest since 1991 - 09/14/2023
The biggest price increases throughout the month were seen in food, home goods, and medical services. In August, Argentina experienced its greatest rate of price growth since 1991, at 12.4%, show figures released by the Institute of Statistics and Census of the Republic. "The consumer price index climbed overall in August 2023 by 12.4%, representing a cumulative [YTD] growth of 80.2%. The...
