World & Politics
EC: Severe drought stabbed energy generation in Europe - 08/25/2022
According to a research by the Joint Research Centre of the European Commission, this year's drought has had a significant impact on hydropower generation in Europe, with precipitation shortfalls affecting rivers throughout the area. The authority noted that the drought in early August only got worse. "River flows in Europe were impacted by severe precipitation shortfalls. The energy sector has...
Canada signs to export hydrogen to Germany - 08/24/2022
By 2025, Canada and Germany intend to form an alliance for the export of hydrogen fuel to the FRG. German Chancellor Olaf Scholz and Canadian Prime Minister Justin Trudeau both witnessed signing of the agreement. The host of the ceremony declared, "The governments of Canada and the Federal Republic of Germany have signed a joint declaration of intent for a Canada-Germany hydrogen alliance."...
Iran abandons several of its main demands for the nuclear deal - 08/24/2022
An unnamed senior U.S. official told Reuters that Iran withdrew some of its primary demands during discussions on the continuation of the 2015 nuclear deal. Tehran, in particular, is no longer insisting that specific inspections of its nuclear program be stopped by international inspectors, the source said. The parties have received a draft of a new agreement from the European Union, on which the...
Bundesbank expects recession in Germany - 08/23/2022
The largest economy in the eurozone is increasingly likely to experience a recession, while inflation will continue to rise and could reach a top of 10% this fall, states Bundesbank's monthly report. Due to its high reliance on Russian gas supplies, German industry is the most exposed in the case of a supply interruption. The sector is already under a lot of stress as a result of the soaring...
WHO requires wearing masks again - 08/22/2022
In order to protect people from the Omicron coronavirus strain this fall and winter, the World Health Organization (WHO) advises raising vaccination coverage and promoting mask use in public settings. The experts of the agency stated that "the epidemiological situation differs from country to country" and "WHO recommends governments to resume efforts to prevent the spread of illness and be...
UN: 22 million people in Ethiopia, Kenya and Somalia are on the brink of starvation - 08/22/2022
According to the UN World Food Program (WFP), some 22 million people in the Horn of Africa (Ethiopia, Kenya, and Somalia) are in danger of becoming hungry as a result of the drought. In Ethiopia, Kenya, and Somalia, the number of people experiencing severe food shortages has climbed by nine million since the year 2022 began, according to the statement, and "therefore 22 million individuals face...
Israel and Turkey restore diplomatic relations - 08/19/2022
Israel and Turkey have decided to formally reestablish their diplomatic ties and send their ambassadors, who were called back. Then, the nations' positions on the situation in the Gaza Strip diverged: Israel was referred to as a "terrorist state" by Ankara, and Tel Aviv accused Turkey of aiding Hamas. Israel and Turkey have decided to fully reestablish their diplomatic ties and to allow their...
Bloomberg: Risk of recession in Eurozone grows to its highest since November 2020 - 08/18/2022
According to the experts surveyed by Bloomberg, the likelihood that the eurozone economy will experience a recession has increased from 45% to 60%. This level is the peak since November 2020. Germany's economy is forecasted to enter a period of stagnation as soon as this quarter, making it the country that would suffer the most. The survey expects that in 2022, inflation in the euro zone will be...
Ukraine receives €200M in preferential loan from Italy - 08/17/2022
The €200 million loan has no interest and will be used by Ukraine to pay teacher wages, the Ukrainian Finance Ministry announced on its website on Wednesday. "The Italian Republic granted Ukraine a €200 million concessional loan on August 15, 2022. The loan agreement stipulates that the money will be made available at no interest for a period of 15 years (taking into account the favorable period...
Fitch and S&P consider Ukraine's debt restructuring as default - 08/15/2022
Fitch Ratings and S&P Global Ratings, two influential international rating organizations, have reduced Ukraine's foreign currency ratings to "RD" (restricted default) and "SD," respectively. Fitch Ratings claims that the country could complete a distressed debt exchange and delay making payments on its external public debt until 2024. In turn, S&P lowered Ukraine's foreign currency rating...
