World & Politics
U.S. and India intend to settle WTO trade dispute soon - 08/28/2023
Trade representative for the United States Katherine Tai expressed hope that the dispute would be resolved soon. US Trade Negotiations Representative Katherine Tai and India's Minister of Commerce and Industry Piyush Goyal directed to resolve the dispute over agricultural supplies with the World Trade Organization (WTO) as soon as possible, reads s statement from Tai’s office. The letter states...
UN asks for urgent financial support for humanitarian operation in Congo - 08/23/2023
The initiative requires $728 million, according to Peter Musoko, head of the WFP office in the Democratic Republic of the Congo. The United Nations World Food Programme (WFP) urged governments, donors, and partner organizations to provide immediate support for its humanitarian operation in the Democratic Republic of the Congo. According to Peter Musoko, the head of WFP's office in the DRC, the...
Bloomberg: Indonesia to relax solar energy rules up to 2025 - 08/22/2023
The government will do away with the mandate that solar power projects utilize materials that are mostly made in the United States, according to the agency. Indonesia will temporarily loosen its regulations for the use of solar energy to encourage more investment in the green economy, Bloomberg writes. The government intends to remove the mandate for solar energy projects to primarily utilize...
German Minister: EU supports ECOWAS sanctions against Niger - 08/22/2023
The EU intends to implement restrictions as well, according to the German Foreign Minister. The European Union backs the Economic Community of West African States' (ECOWAS) attempts to end the Niger conflict, including the sanctions imposed by the group on the rebels. The German Foreign Minister, Annalena Baerbock, stated that the EU intends to implement comparable limitations. "We express our...
Japanese exports fall for the first time since 2021 - 08/21/2023
Japan's export exports decreased by 0.3% in yearly terms in July. This is the first decline since 2021. Reuters surveyed economists who predicted an even larger decline of 0.8%. Japanese exports increased by 1.5% in June. The fall coincided with a drop in demand for Japan's exported chip manufacturing machinery and light petroleum products. Future macroeconomic volatility and erratic growth in...
WHO reports 63% increase in COVID-19 incidence worldwide in 28 days - 08/18/2023
The World Health Organization reported that more than 1.4 million instances were found between July 17 and August 13. Between July 17 and August 13, more than 1.4 million people worldwide became infected with the coronavirus; more than 2,300 of them passed away. The World Health Organization (WHO) noted that while the number of deaths reduced by 56%, the number of infections rose by 63% over the...
Japan, USA and South Korea to create communication mechanism for semiconductor supplies - 08/18/2023
The nations will communicate and swiftly alert one another about any potential problems in the supply of batteries, semiconductors, and other components, the Yomiuri newspaper writes. The US, South Korea, and Japan are collaborating to develop a system of early warning and communication that will allow for the interchange of data on the availability of semiconductors and other high-tech...
Indonesia to allocate $2.7bn to build new capital city - 08/17/2023
It will be called Nusantara. Indonesia intends to invest $2.7 billion in the building of a new national capital in 2024, according to Reuters with reference to the administration. The majority of the monies provided are anticipated to be used for housing for government employees and infrastructural improvements. Supporting infrastructure will be finished in 2024," said the finance minister Sri...
Indonesia files lawsuit in WTO over EU duties on biodiesel imports - 08/16/2023
The Indonesian side claims that the European Union has varied import policies for the same commodity coming from different members of the organization. Indonesia has filed a complaint with the World Trade Organization (WTO) regarding the EU's countervailing taxes on imports of biodiesel. According to Indonesia, the EU's import levies on biodiesel violate various clauses of the WTO Agreement on...
China cuts interest rates for the second time in the last three months - 08/16/2023
According to Bloomberg, the People's Bank of China slashed key interest rates on August 15, for the second time in the previous three months. The bank reduced the one-year funds rate by 15 basis points this time, from 2.65% to 2.5%. This reduction is the most since 2020. The rate is presently at its lowest point since it was initially established in 2014. On August 15, the bank also reduced the...
