World & Politics
Bloomberg: Manhattan loses $12.4 billion a year due to shift to remote work - 02/15/2023
Business districts are experiencing substantial economic effects as a result of the pandemic expansion of remote work and the hybrid mode, in which workers work partially from home and partially from the office. The New York City borough of Manhattan, which is home to the financial district of the city, large banks, several company headquarters, and more, is losing up to $12.4 billion annually as...
European Commissioner Gentiloni: Risks to EU economy growth are balanced - 02/14/2023
According to European Commissioner for the Economy Paolo Gentiloni, the European Commission (EC) now thinks that the risks in the projection of EU economic growth are largely balanced, whereas it had previously believed that they were downward. "Threats to the future. These dangers currently seem to be largely balanced. You are aware that we always discussed downside risks in the preceding...
Bloomberg: Turkish economy loses $84 billion in earthquakes - 02/13/2023
Turkish economic losses after two February earthquakes totaled $84 billion, or 10% of GDP, according to estimates from the Turkish Confederation of Entrepreneurs and Businessmen. The organization put the cost of the building destruction caused by the earthquake at $70.8 billion. The Turkish budget will also suffer a further loss of $ 10.4 billion. The workforce losses were valued at $2.9 billion...
Earthquake death toll in Turkey and Syria tops 20,000 - 02/10/2023
Following the earthquakes that occurred on February 6 during the day and evening, more than 20,000 people perished in Turkey and Syria. 3,317 people died in Syria, and 17,134 died in Turkey. According to Anadolu newspaper, the earthquakes in Turkey had an impact on 70,347 persons. A total of 30,360 persons have been transferred from disaster zones to other locations. The Syrian Health Ministry...
WSJ: China overtakes US in number of intercontinental ballistic missiles - 02/09/2023
China now possesses more land-based intercontinental ballistic missile (ICBM) launchers than the US. In the meantime, the US continues to have more missiles and nuclear warheads on them than China, writes The Wall Street Journal (WSJ) referring to the US military. The WSJ claims that on January 26, the American military disclosed it to the appropriate congressional committees. Some of the...
EC sets to help deploy solar panels in Ukraine - 02/03/2023
The EC wants to gather money to install solar panels at government buildings in Ukraine. According to EC director Ursula von der Leyen, the EC is seeking to secure significant funding for the installation of solar panels in Ukraine that will give electricity to government institutions. During a news conference in Kiev that was webcast on the EC website during her tour, she stated, "We are...
IMF forecasts economic difficulties for Latin America due to falling commodity prices - 02/02/2023
According to a published analysis of the International Monetary Fund, the region of Latin America will experience challenges in 2023 due to sluggish economic development and declining commodity prices (IMF). "The year 2023 is probably going to be challenging for the area. This year's growth will only be 2% due to rising interest rates and declining commodity prices," the article reads. The IMF...
Mexico's economy adds three percent in 2022 - 02/01/2023
According to early projections, the economy of Mexico expanded by 0.4 percent in the fourth quarter of 2022, with a seasonally adjusted annual rate of 3 percent, according to the National Institute of Statistics and Geography Inegi. "Preliminary estimates of quarterly Gross Domestic Product data for the fourth quarter of 2022 indicate seasonally adjusted growth of 0.4% in real terms." Seasonally...
Total head forecasts deterioration of European gas market in 2023 - 01/30/2023
Patrick Pouyanné, the CEO of the French oil and gas giant Total, predicts that tensions on the European natural gas market will increase in 2023. He stated that the availability of diesel fuel might be Europe's biggest issue. "Europe will receive less Russian gas than it did in 2022, forcing it to purchase LNG in large quantities once more. The situation will grow tense", according to Total’s CEO...
Bloomberg: Russia pushes Urals oil offshore transshipment to record levels - 01/27/2023
Since the implementation of an energy price cap, the transshipment of Russian Urals oil at sea has increased to record levels, according to Bloomberg, which cited tanker tracking data. Shipments of the Urals might reach a record 14 million barrels by the end of January. In December 2022 and January 2023, 19 million barrels will be transshipped. Five supertankers from the port of Ceuta on...
