For the first time since January 2017, according to South Africa's national statistics office (SSA), the country's consumer price index finished May at 6.5 percent annualized, exceeding the inflation goal established by the country's central bank (SARB). Sharply increasing prices in areas like transportation and food had the most influence on the current index. The increase in gasoline costs was...

The world’s richest man, Elon Musk, who has a fortune valued at $213.9 billion according to Forbes Real-Time, suggested that a US recession may very possibly occur soon. "A recession will unavoidably occur at some time. The likelihood of one occurring soon is greater than the likelihood of not," he added. "It's not a fact, but it seems more likely than not". The CEO and creator of Tesla...

During discussions with UN Secretary-General António Guterres, Turkish President Recep Tayyip Erdogan indicated that Ankara was continuing its efforts to settle the "grain crisis," according to the Turkish leader's office. "President Erdogan spoke with UN Secretary-General António Guterres over the phone. They addressed ways to settle the problem surrounding the situation in Ukraine during the...

The US Centers for Disease Control and Prevention (CDC) authorized COVID-19 vaccine for children aged six months to five years old on Saturday. The CDC council advised that children this age be vaccinated with one of two vaccines: Moderna or Pfizer/BioNTech. The US Food and Drug Administration (FDA) had approved the vaccination of children under the age of five the day before. "We have made...

In the context of the ongoing hostilities in Ukraine, the European Union intends to cooperate with Israel in the energy sector in order to free itself from reliance on Russian energy carriers, said Ursula von der Leyen, the head of the European Commission, in her speech at Ben Gurion University in southern Israel, where she was awarded an honorary doctorate degree. "The Kremlin's actions have...

The European Commission will discuss granting Ukraine the status of EU candidate nation on June 17 in order to prepare for the Union's summit on June 23-24, stated Eric Mamer, the agency's official. On June 13, the Committee of European Commissioners will host a general debate on the topic, according to Mamer. At a meeting scheduled for Friday, June 17, the institution is expected to reach a...

Coal India Limited, India's state-owned coal mining and processing business, has announced its first international tender for coal imports in order to assure adequate fuel supply to the country's power plants. "Coal India Limited announced a worldwide electronic tender for the delivery of 2.416 million tons of coal for the first time," the company said in a statement. Deviations of more than or...

The World Bank (WB) has downgraded its global economic growth forecast for this year from 4.1 percent to 2.9 percent. The World Bank specialists point out the negative implications of the situation in Ukraine, as well as chances of global inflation continuing to rise. Prices are expected to peak in the middle of this year, then remain at their present high level for the rest of the year. In such...

Japan may be facing its worst energy crisis since the earthquake and tsunami of 2011. According to Nikkei's calculations, the country might run out of energy comparable to the needs of 1.1 million households in the event of a bad scenario and a harsh winter. The shutdown of thermal power plants, sluggish restoration of nuclear power plants, and uncertainty about energy purchases from Russia...