In an unsuccessful attempt to monopolize the most cutting-edge technology on the planet and uphold its technological superiority, the U.S. is erecting a technological blockade by banning the sale of computer chips, stated Wang Wenbin, a representative for the Chinese Foreign Ministry. "The American strategy typifies technological hegemony. The United States frequently oversimplifies the idea of...

Moody's cut their estimate for the growth of the world economy in 2022 and 2023. The agency forecasts that the global GDP will increase by 2,5% in 2022 and by 2,1% in 2023. The organization expected earlier that the number will increase by 3.1% in 2022 and by 2.9% in 2023. The projection for U.S. GDP growth was downgraded by Moody's from 2.8% to 1.9% in 2022 and from 2.9% to 1.1% in 2023. The...

Europe needs to make significantly more "sacrifices" than in previous instances of monetary tightening in order to counteract growing inflation. Officials of the European Central Bank (ECB) noted this during a gathering of central bank representatives from around the world in the American state of Wyoming, according to the Financial Times. European central banks "will confront an even larger...

There will not yet be any new assistance programs for Ukrainian refugees from the British government. The Guardian newspaper forecasts that by the middle of 2023, nearly 50,000 of them would still be without permanent shelter The government's "Homes for Ukrainians" initiative, which assists refugees who have been in the UK for more than six months, will shortly come to an end, according to the...

Approximately 250 million yen ($1.8 million) will be spent by the Japanese government for former Prime Minister Shinzo Abe's state burial, Kyodo news reports. The cabinet meeting on August 26 will authorize the final sum to be spent. The funds will be utilized to pay for space rental and anti-coronavirus measures. The Japanese government anticipates that 6,400 people will attend the ceremony,...

After examining more consumer activity data, the U.S. Department of Commerce revised its projection of the nation's GDP decrease in the second quarter. According to a report from the Bureau of Economic Analysis, the GDP loss year over year is now pegged at 0.6%, while the expected figure was 0.9%. The research stated that decreases in fixed asset investment, state and local government spending,...

According to a research by the Joint Research Centre of the European Commission, this year's drought has had a significant impact on hydropower generation in Europe, with precipitation shortfalls affecting rivers throughout the area. The authority noted that the drought in early August only got worse. "River flows in Europe were impacted by severe precipitation shortfalls. The energy sector has...

By 2025, Canada and Germany intend to form an alliance for the export of hydrogen fuel to the FRG. German Chancellor Olaf Scholz and Canadian Prime Minister Justin Trudeau both witnessed signing of the agreement. The host of the ceremony declared, "The governments of Canada and the Federal Republic of Germany have signed a joint declaration of intent for a Canada-Germany hydrogen alliance."...

An unnamed senior U.S. official told Reuters that Iran withdrew some of its primary demands during discussions on the continuation of the 2015 nuclear deal. Tehran, in particular, is no longer insisting that specific inspections of its nuclear program be stopped by international inspectors, the source said. The parties have received a draft of a new agreement from the European Union, on which the...