World & Politics
New York Fed Chief: Current base rate is satisfactory - 09/11/2023
John Williams, the president of the Federal Reserve Bank of New York, expressed satisfaction with the progress made in bringing down the country's inflation rate and said the Fed will keep an eye on new statistical information before deciding whether to raise or hold the key interest rate. "Monetary policy is currently operating at a very high level. The anticipated outcome has been achieved....
The UN discusses insurance of Ukrainian grain with Lloyd`s of London - 09/08/2023
The British insurance business Lloyd's of London is in talks with the UN to secure supply of grain from Ukraine in case the grain deal is renewed. The answer is yes, John Neal, the CEO of Lloyd's of London, told Reuters: "We want and can continue to provide insurance in case the corridor will be put back into operation and restored." "We are in active discussions with the UN about how that might...
Meteorologists: Air pollution is linked to rising global temperatures - 09/07/2023
According to World Meteorological Organization members, air pollution is a "vicious circle" of environmental issues that is exacerbated by the climate crisis and waves of excessive heat. In the past, meteorologists have predicted that by 2027, global warming could surpass the 1.5 °C threshold. The "vicious circle" of environmental issues brought on by the climate catastrophe and global warming...
IMF prohibits Pakistani authorities from resuming electricity consumption subsidies - 09/06/2023
The IMF insists that the money to be used for subsidies should be returned to the budget by raising tax collection in the nation, according to The Express Tribune. The interim administration of Pakistan requested that state subsidies on power bill payments resume, but the International Monetary Fund (IMF) denied their proposal. The IMF reportedly advised the authorities to reevaluate the...
IEA Chief: US-China disagreement holds back clean energy development - 09/05/2023
Fatih Birol urged these nations to "unite to make progress on climate issues". The 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28), which will be held in Dubai from November 30 to December 12, could put an end to geopolitical differences between the US and China that are impeding the growth of sustainable energy, said Fatih Birol, Chief of the IEA, in an...
Japan allocates $140M to support fishermen after Fukushima water discharge - 09/05/2023
Increased local demand, sustainable seafood production, reputational costs mitigation, and assistance in locating new international markets are just a few of the support initiatives that will be implemented. The Japanese government will set aside 20.7 billion yen (more than $140 million) to aid the fishing sector, which is suffering losses as a result of the ban some nations, particularly China,...
Indonesia introduces golden visas to attract foreign investors - 09/04/2023
Indonesia is implementing a "golden visa" scheme to entice foreign business and individual investors and boost the local economy. The Jakarta Post newspaper published the news in relation to the declaration made by the Ministry of Justice and Human Rights. According to immigration official Silmy Karim, who was quoted in the newspaper, "the golden visa grants a long-term residence permit of five...
UK watchdog will pay for energy savings for the second winter in a row - 09/01/2023
According to a National Grid survey, 86% of families who previously participated in the program are open to signing up again for the upcoming winter season. Due to the anticipated heavy demand on the system this winter, National Grid, which runs Britain's integrated energy system, will award homeowners with cash for reducing their electricity usage, reports Reuters. It claims that approximately...
UK calls for re-vaccination due to new COVID-19 strain - 08/31/2023
Health authorities in the UK have suggested a new coronavirus re-vaccination program due to the new strain BA.2.86 of the coronavirus. According to the Financial Times, UK health authorities have suggested a new coronavirus re-vaccination program to combat the new BA.2.86 sub-variant. In particular, the UK's Health Safety Agency has suggested accelerating the fall vaccination campaign to begin...
FT: El Niño phenomenon will cause food inflation to rise in developing countries - 08/30/2023
The newspaper warned that it might also cause crucial interest rates to spike and then stay high for a while. Food and other items will cost significantly more in poor nations as a result of the El Niño natural phenomenon. According to analysts quoted in the Financial Times, this might lead to an increase in expectations of inflation and the long-term maintenance of high key rates. The...
