World & Politics
FT: British BP announces suspension of oil transportation through the Red Sea - 12/19/2023
As tensions in the region continue to rise, British energy giant BP plc. decided to halt tanker shipments of oil products across the Red Sea, the Financial Times writes. "BP will suspend all oil shipments through the Red Sea, in another sign of an escalating crisis sparked by Yemeni rebel attacks on ships in the area and threatening a key route for global trade," the newspaper writes. The...
Four countries to receive €65M from EC to support Ukrainian refugees - 12/19/2023
The European Commission will provide over €65M to aid member states of the union that are currently housing the greatest number of Ukrainian migrants. "The European Commission (...) has determined to provide Bulgaria, Poland, Romania, and the Czech Republic with assistance in hosting individuals by allocating over €65 million from the Asylum, Migration, and Integration Fund (...)," reads the EC...
Lufthansa, Austrian Airlines and SWISS to resume flights to Israel - 12/18/2023
The Lufthansa Group stated that it plans to restart operating flights to Israel on January 8. On October 9th, the flights were suspended due to an attack on Israel by militants from Hamas. The group's airlines will run a total of 20 weekly flights to and from Tel Aviv during the first phase. From Tel Aviv, Lufthansa Airlines will run three weekly flights to Munich and four weekly flights to...
EU to start talks with Ukraine and Moldova on their accession to the union - 12/15/2023
According to European Council President Charles Michel, nations that are members of the EU have chosen to begin accession talks with Moldova and Ukraine on Thursday. "The European Council has decided to start negotiations with Ukraine and Moldova on their admission to the European Union," he posted to the social network X. Furthermore, he said, Georgia had been "granted the status of candidate...
World Bank: Cost of servicing state debt in developing countries hits record $443.5B - 12/14/2023
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...
G7 gets concerned about rising phone fraud rates - 12/11/2023
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...
EU favors status quo on Taiwan - 12/08/2023
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...
EC Chief: Global coal phase-out must be accelerated - 12/04/2023
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 GDP growth slows to 7.6% in July-September, still exceeds forecasts - 12/01/2023
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...
COP28 participants to set up fund to support poor countries suffering from climate change - 12/01/2023
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...
