The International Monetary Fund (IMF) has warned that the emergence of new COVID-19 strains could jeopardize the global recovery. This was revealed by IMF Chief Economist Gita Gopinath during an online conference hosted by the International Financial Forum last weekend. Ms. Gopinath stated that the IMF's previous predictions had downside risks. She believes that the proliferation of the Omicron...

The World Inequality Report 2022, produced by the French research organization World Disparity Lab, which examines global inequality, claims that the pandemic has greatly exacerbated wealth inequality. According to the report, 2,750 billionaires now control 3.5 percent of the world's wealth, up from 1% in 1995. Global wealth disparities increased at an unprecedented rate during the epidemic,...

China's economy will soon be two to three times the size of the US economy, said US entrepreneur and SpaceX founder Elon Musk. He noted that the US has the largest economy in the world "for a long time". "Now we are approaching a situation where China's economy could conceivably be two to three times the US economy. It's just a different world," Musk said in an interview on a video conference...

According to a research issued by the International Energy Agency (IEA), renewable energy output would grow by 288.9 GW by the end of this year. This will shatter the capacity growth record set in 2020. Solar panels, wind turbines, and other renewable energy sources are gradually being installed throughout the world, according to the agency. As a consequence, their total production this year will...

Fed chief Jerome Powell has admitted that it is time to stop calling inflation temporary. "The word 'temporary' has different meanings to different people, for many it has the meaning of 'fleeting' and we use it in the sense that it will not leave a permanent mark in the form of higher inflation.  I think now is probably a good time to drop that word and start explaining more clearly what...

Health ministers of the G7 countries (Great Britain, Germany, Italy, Canada, the United States, France, and Japan) have decided to collaborate on a research of the novel omicron coronavirus strain. It's thought to be far more harmful and contagious than the "delta" variety, which is now the most common. "According to preliminary evaluations, the world community is facing the possibility of a...

WHO has convened a meeting to discuss a new variant of the coronavirus that has already been identified in three countries. According to virologists, the strain raises serious concerns because it has an "extremely high" number of mutations and is more resistant to antibodies. The World Health Organization (WHO) has held a meeting to discuss a new variant of the coronavirus infection that is...

According to a press statement from Cheniere Energy Inc. in the United States, the business has struck a long-term agreement to export liquefied natural gas (LNG) to China's Foran Energy Group. According to the press release, "Cheniere Energy today announced that its subsidiary, Cheniere Marketing International, LLP, has entered into a binding 20-year liquefied natural gas (LNG) purchase and sale...

The Japanese government intends to allocate about 600 billion yen (about $5.2 billion) as part of the supplementary budget package for the current fiscal year 2021 to support the construction of semiconductor manufacturing plants in the country. Specifically, 400 billion ($3.5 billion) will go to subsidize the construction of a plant by Taiwan Semiconductor Manufacturing (TSMC). The remaining...