World & Politics
Bundesbank expects recession in Germany - 08/23/2022
The largest economy in the eurozone is increasingly likely to experience a recession, while inflation will continue to rise and could reach a top of 10% this fall, states Bundesbank's monthly report. Due to its high reliance on Russian gas supplies, German industry is the most exposed in the case of a supply interruption. The sector is already under a lot of stress as a result of the soaring...
WHO requires wearing masks again - 08/22/2022
In order to protect people from the Omicron coronavirus strain this fall and winter, the World Health Organization (WHO) advises raising vaccination coverage and promoting mask use in public settings. The experts of the agency stated that "the epidemiological situation differs from country to country" and "WHO recommends governments to resume efforts to prevent the spread of illness and be...
UN: 22 million people in Ethiopia, Kenya and Somalia are on the brink of starvation - 08/22/2022
According to the UN World Food Program (WFP), some 22 million people in the Horn of Africa (Ethiopia, Kenya, and Somalia) are in danger of becoming hungry as a result of the drought. In Ethiopia, Kenya, and Somalia, the number of people experiencing severe food shortages has climbed by nine million since the year 2022 began, according to the statement, and "therefore 22 million individuals face...
Israel and Turkey restore diplomatic relations - 08/19/2022
Israel and Turkey have decided to formally reestablish their diplomatic ties and send their ambassadors, who were called back. Then, the nations' positions on the situation in the Gaza Strip diverged: Israel was referred to as a "terrorist state" by Ankara, and Tel Aviv accused Turkey of aiding Hamas. Israel and Turkey have decided to fully reestablish their diplomatic ties and to allow their...
Bloomberg: Risk of recession in Eurozone grows to its highest since November 2020 - 08/18/2022
According to the experts surveyed by Bloomberg, the likelihood that the eurozone economy will experience a recession has increased from 45% to 60%. This level is the peak since November 2020. Germany's economy is forecasted to enter a period of stagnation as soon as this quarter, making it the country that would suffer the most. The survey expects that in 2022, inflation in the euro zone will be...
Ukraine receives €200M in preferential loan from Italy - 08/17/2022
The €200 million loan has no interest and will be used by Ukraine to pay teacher wages, the Ukrainian Finance Ministry announced on its website on Wednesday. "The Italian Republic granted Ukraine a €200 million concessional loan on August 15, 2022. The loan agreement stipulates that the money will be made available at no interest for a period of 15 years (taking into account the favorable period...
Fitch and S&P consider Ukraine's debt restructuring as default - 08/15/2022
Fitch Ratings and S&P Global Ratings, two influential international rating organizations, have reduced Ukraine's foreign currency ratings to "RD" (restricted default) and "SD," respectively. Fitch Ratings claims that the country could complete a distressed debt exchange and delay making payments on its external public debt until 2024. In turn, S&P lowered Ukraine's foreign currency rating...
Kim Jong-un declares victory over coronavirus in North Korea - 08/11/2022
Kim Jong-un, the leader of North Korea, declared that the DPRK has defeated COVID-19. Since July 29, there have been no more coronavirus cases in North Korea. At a meeting on anti-epidemic measures, he "solemnly hailed victory in an extraordinarily emergency anti-epidemic battle to exterminate the novel coronavirus," reports Yonhap News of South Korea. In late April, DPRK authorities announced...
Japanese government resigns in full - 08/10/2022
The resignation of the whole Japanese cabinet was reported by Kyodo. The entire Japanese government has resigned, according to Kyodo News Agency. The new reshuffle of the administration under Prime Minister Fumio Kishida is anticipated to be made public soon, the agency says. The reorganization was originally scheduled for early September, but Prime Minister Kishida chose to carry it now in...
Survey: Largest eurozone countries are pessimistic about inflation - 08/05/2022
ECB: Residents of the biggest eurozone nations anticipate more unemployment and inflation in 2022. Residents of numerous eurozone nations, including Germany, France, Italy, and Spain, anticipate higher inflation and unemployment during the coming year. This is indicated in the European Central Bank’s report (ECB). Consumers now anticipate more inflation over the next 12 months compared to...