World & Politics
Natural Gas: A Critical Component of the Energy Transition - 09/20/2023
One far-reaching consequence of the Russian invasion of Ukraine has been the total transformation of global gas markets. A global Liquified Natural Gas (LNG) boom has taken place, with LNG markets surpassing the pipeline trade to the detriment of Russia, as Europe make strides in returning to energy normalcy. LNG, it seems, will have a key role to play in Europe’s energy transition. The European...
Over 90% of US adults cut spending in the last six months - 09/20/2023
In the previous six months, the vast majority of American people (92%) have reduced their spending, according to a Morning Consult survey cited by CNBC. The most frequent areas where respondents cut costs were grocery (54%), restaurants and bars (56%), clothing and accessories (63%), travel and vacations (53%), and gadgets (50%). Over half (55%) of respondents who reported having an annual...
The U.S. government debt exceeds $33T for the first time in history - 09/19/2023
The entire public debt of the United States has reportedly surpassed $33 trillion for the first time in history, according to the Treasury Department. The U.S. Ministry of Finance estimates that the country's total national debt is currently $33.044 trillion. The U.S. national debt had surpassed $32 trillion on June 16, 2022. The U.S. debt may probably approach $50 trillion by the end of this...
G20 GDP growth slows to 0.7% in Q2 - 09/15/2023
The Organization for Economic Cooperation and Development (OECD) said that the second quarter of 2023 saw a 0.7% growth in the GDP of G20 nations compared to the first quarter. As a result, economic growth decreased from the first quarter's revised 1% growth rate. According to the research, China's slowdown was mostly to blame for the deterioration of the recovery rate. After growing by 2.2%...
EC proposes new €50B support package for Ukraine - 09/14/2023
Ursula von der Leyen, Chair of the European Commission (EC), has suggested a new four-year aid program for Ukraine. She put the amount at €50 billion. Von der Leyen announced her plan during the annual State of the European Union (EU) speech's plenary session. She claims that such a degree of assistance will aid Ukraine in "rebuilding a modern and prosperous country" in the future. "We're...
Inflation in Argentina hits its highest since 1991 - 09/14/2023
The biggest price increases throughout the month were seen in food, home goods, and medical services. In August, Argentina experienced its greatest rate of price growth since 1991, at 12.4%, show figures released by the Institute of Statistics and Census of the Republic. "The consumer price index climbed overall in August 2023 by 12.4%, representing a cumulative [YTD] growth of 80.2%. The...
New York Fed Chief: Current base rate is satisfactory - 09/11/2023
John Williams, the president of the Federal Reserve Bank of New York, expressed satisfaction with the progress made in bringing down the country's inflation rate and said the Fed will keep an eye on new statistical information before deciding whether to raise or hold the key interest rate. "Monetary policy is currently operating at a very high level. The anticipated outcome has been achieved....
The UN discusses insurance of Ukrainian grain with Lloyd`s of London - 09/08/2023
The British insurance business Lloyd's of London is in talks with the UN to secure supply of grain from Ukraine in case the grain deal is renewed. The answer is yes, John Neal, the CEO of Lloyd's of London, told Reuters: "We want and can continue to provide insurance in case the corridor will be put back into operation and restored." "We are in active discussions with the UN about how that might...
Meteorologists: Air pollution is linked to rising global temperatures - 09/07/2023
According to World Meteorological Organization members, air pollution is a "vicious circle" of environmental issues that is exacerbated by the climate crisis and waves of excessive heat. In the past, meteorologists have predicted that by 2027, global warming could surpass the 1.5 °C threshold. The "vicious circle" of environmental issues brought on by the climate catastrophe and global warming...
IMF prohibits Pakistani authorities from resuming electricity consumption subsidies - 09/06/2023
The IMF insists that the money to be used for subsidies should be returned to the budget by raising tax collection in the nation, according to The Express Tribune. The interim administration of Pakistan requested that state subsidies on power bill payments resume, but the International Monetary Fund (IMF) denied their proposal. The IMF reportedly advised the authorities to reevaluate the...
