World & Politics
US to commission first nuclear reactor built in 30 years - 08/01/2023
The project's completion "dragged on for years" and resulted in cost overruns, writes The Financial Times. Georgia's Vogtle nuclear power plant's third unit will soon start producing electricity. According to the Financial Times, it will be the first reactor constructed in the US in the previous 30 years. According to the newspaper, the project's completion has "dragged on for years," resulting...
US GDP adds 2.4% in Q2 - 07/28/2023
The US GDP grew by 2.4% in the second quarter on an annualized basis. The Bureau of Economic Analysis of the U.S. Department of Commerce released these figures on July 27. This is only an estimate; the actual data will be released on August 30. The American economy's growth rate climbed marginally from the first quarter's GDP growth of 2%. Experts claim that the economy is still stable, but...
India rejects Chinese BYD's proposal to invest $1bn in electric car production - 07/25/2023
The Indian government decided to reject the proposal due to concerns about national security, Bloomberg writes. The proposal presented on July 14 by Indian Megha Engineering and Infrastructures and Chinese automaker BYD to jointly develop a $1 billion business was rejected by Indian regulators. These sources claim that the Indian government rejected the joint plan due to national security...
India: Some G20 countries don’t want to ditch fossil fuels - 07/24/2023
The committee stated in the document that carbon neutrality must be attained by the middle of the twenty-first century. At a meeting of energy ministers in Goa, India, a number of G20 nations suggested using CO2 conversion technology rather than agreeing to phase out fossil fuels (coal, oil, and gas) to achieve carbon neutrality, said Raj Kumar Singh, India's minister of power and new and...
Reuters: Protesters seize and set on fire Swedish embassy in Baghdad - 07/20/2023
Hundreds of demonstrators surrounded the Swedish embassy in Baghdad. According to Reuters, who cited an eyewitness and a source familiar with the incident, they set fire to the embassy. No members of the diplomatic mission's staff were hurt, the newspaper added. Reuters reports that Muqtada al-Sadr, the head of the Iraqi Shiite group Mahdi Army, was responsible for organizing the protests in...
Reuters: India plans to increase taxes on multinational companies - 07/17/2023
According to Reuters, India will ask the G20 to approve its proposal to raise the proportion of taxes that multinational corporations must pay to nations where they produce extra profits. Sources in the Indian government say that under a new international tax structure, India will attempt to boost the percentage of taxes that foreign corporations would be required to pay to nations where they...
Inflation in Argentina exceeds 50 per cent in six months - 07/14/2023
According to a study from the republic's statistics and census institute, the consumer price index overall increased 6% in June 2023. Argentina's inflation rate has surpassed 50% since the year's beginning, and prices increased by 6% in June. This is in line with the information that the Institute of Statistics and Census of the Republic released on Thursday. "In June 2023, the consumer price...
Number of natural disasters causing billions of dollars in damage grows in USA - 07/13/2023
According to research by the National Centres for Environmental Information (NCEI), the US has already seen 12 natural disasters in the first half of the year, with each causing at least $1 billion in damage. This is much more than the annual average of 8.1 disasters for the years between 1980 and 2022. Additionally, the second part of the year is typically when natural disasters in the United...
IMF chief expects world economy to grow by 3% - 07/12/2023
The IMF's director predicts that the global economy will expand by 3% during the following five years. According to the International Monetary Fund's (IMF) Managing Director Kristalina Georgieva, the global economy will expand by roughly 3% over the next five years. Georgieva spoke on the anticipated development in the global economy during a meeting at the IMF, saying, "We forecast growth of...
Barclays forecasts more stimulus for Chinese economy - 07/12/2023
According to Barclays, China may strengthen economic stimulus in 2023. Experts at Barclays believe that China's lending figures are substantially above market forecasts, primarily due to rise in long-term lending to consumers. The bank's experts say that although China's real estate market is still struggling, certain mid-sized cities have already begun to reduce the initial payments. As a...
