The World Bank's newly published yearly report on global debt states that in 2022, developing nations would pay a record $443.5 billion—5% more than the previous year—to service their public debt. For the 24 poorest nations, the cost of servicing their public debt will increase by 39% in 2023 and 2024. 18 nations, including Zambia, Ghana, and Sri Lanka, have reportedly missed payments on their...

For the first time the G7 nations addressed telephone fraud concerns in a joint statement that was released after their meeting in the Japanese city of Mito, where the interior and security ministers met. It is observed that this particular form of fraud is global, well-organized, and becoming more prevalent in Japan and the West. “We all agree that organized crime is seriously harming nations...

Ursula von der Leyen, President of the European Commission (EC), stated that the European side brought up the South China Sea and Taiwan situations during the EU-PRC summit in Beijing on Thursday. "We talked about the tensions in the area, specifically the Taiwan Strait. We saw that the South China Sea is becoming more tense, which could jeopardize regional security. This is the reason, in a news...

Ursula von der Leyen, President of the European Commission (EC), stated that the international community needs to expedite the phase-out of coal in order to keep global warming to 1.5 degrees Celsius. "It has been two years since the world community decided to expedite the phase-out of coal at the COP 26 conference in Glasgow. However, maintaining coal in the global energy mix continues to be our...

India's second fiscal quarter saw 7.6% year-over-year growth in GDP (July-September), the nation's National Statistical Office report reads. The rate of economic growth decreased in comparison to the previous quarter, when it was 7.8% year over year. The average prediction made by experts surveyed by Trading Economics was for a 6.5% increase in the Indian GDP between July and September. The...

According to The Guardian, delegates attending the COP28 summit in Dubai have decided to create a fund to assist in making up for the economic losses incurred by the world's poorest nations as a result of climate change. This accord was hailed as a major accomplishment by the publication. The UAE, which is hosting the conference, and Germany have each committed $100 million to the fund; the...

According to EU High Representative for Foreign Affairs Josep Borrell, the EU wants to establish mutually beneficial relations with Turkey and suggests starting a high-level dialogue again. Borrell made these remarks at a press conference in Brussels. Borrel gave a press conference in which he and the European Commission jointly reported on the political, economic, and trade relations between the...

Realizing that every nation has a unique path toward development, the world must ensure that everyone is heard, not just a small group of people. In response to the International Energy Agency's publication "The Oil and Gas Industry in a Time of Transition to Net Zero," OPEC Secretary General Haitham al-Ghais stated that it is imperative to make sure that the "energy transition"—that is, the...

The Wall Street Journal reports that online retailer Amazon.com Inc. will deliver 5.9 billion parcels to recipients in the United States in 2023 compared to 5.2 billion the previous year, citing estimates from the company's internal records and reliable sources. According to the metric, Amazon will therefore top the delivery companies, according to the newspaper. It has already delivered more...