World & Politics
Bundesbank forecasts average annual inflation in Germany in 2022 at 6% - 04/07/2022
Head of the Bundesbank Joachim Nagel said that inflation in Germany could average 6% in 2022. "We expect that annual average inflation in 2022 could reach 6 percent. And that, of course, is too much," Nagel said in an interview with ARD television. The head of the Bundesbank noted that the issue is of universal concern. The government cannot allow inflation to fix at a high level as rising...
Experts: Pandemic results in record increase in sovereign debt worldwide - 04/07/2022
According to Janus Henderson investment firm analysts, overall debt of governments around the world would rise by 9.5 percent this year to a new high of $71.6 trillion, placing downward pressure on economic recovery and GDP growth. A new Sovereign Debt Index, focused to sovereign indebtedness around the world, was issued by Janus Henderson, a British management firm. By the end of 2021, the paper...
Biden orders extra military aid to Ukraine - 04/06/2022
The White House: Joe Biden orders $100 million in additional military aid to Ukraine. U.S. President Joe Biden has ordered $100 million in additional military aid to Ukraine, according to the White House. According to a memorandum signed by Biden, the text of which was distributed by the White House press service, the equivalent of $100 million in the aid will include defense equipment and...
World Bank worsens 2022 GDP growth forecast for China - 04/05/2022
The World Bank predicts China's economy will grow by 5% in 2022 instead of the 5.4% expected in October, according to the bank's World Economic Outlook report. "China, which accounts for 86 percent of regional output, is projected to grow by 5 percent in the baseline scenario and 4 percent in the pessimistic scenario," the WB wrote. The Bank notes that the situation around Ukraine threatens the...
Inflation in South Korea exceeds 4% for the first time in a decade - 04/05/2022
The annual inflation rate in South Korea was 4.1 percent in March 2022, the highest in a decade, the Ryonhap News Agency reported citing the national statistical office. According to the agency, the increase was caused by energy prices. Experts fear that food prices may continue to rise because of the Ukrainian crisis. At present, a sharp decline in inflation is unlikely, according to the...
Shanghai requires 26 million residents to be tested twice for COVID-19 - 04/04/2022
On Sunday, April 3, authorities in Shanghai, ordered for 26 million residents of the city to be checked for the coronavirus. This was reported by Reuters. "The main task is to completely eliminate risk points and break the chain of transmission in order to stop the spread of the epidemic as soon as possible," said Wu Qianyu, an inspector at the Shanghai Municipal Health Commission. At the same...
S&P affirms Turkey's rating - 04/04/2022
S&P has affirmed Turkey's foreign currency rating at "B+" with a negative outlook. International rating agency S&P Global Ratings (S&P) has affirmed Turkey's long-term foreign currency sovereign credit rating at "B+" with a negative outlook, the agency said in a release. The country's long-term local currency rating was lowered to "B+" from "BB-". "In our view, the negative outlook...
Guardian: Number of "ghost flights" from UK reaches 500 a month - 04/01/2022
Airlines operated roughly 500 foreign "ghost flights" from UK airports between October and December 2021. The Guardian newspaper received this information after submitting a Freedom of Information Act request to the UK Civil Aviation Authority (CAA). Heathrow, Manchester, Aberdeen, Stansted, and Norwich airports all had the most of these flights. The data only includes outbound international...
UK raises estimate of annual GDP growth in Q4 - 03/31/2022
The U.K. Statistics Bureau raised its estimate of fourth-quarter 2021 annual GDP growth to 6.6 percent. GDP in Britain in the fourth quarter of 2021, according to the final assessment, grew by 6.6% year on year and by 1.3% quarter on quarter, according to the country's national statistics office. Analysts surveyed by DailyFX believed that the figure grew by 6.5% year on year and by 1% quarter...
Biden to propose 20% tax on billionaires' incomes - 03/29/2022
Biden plans to impose a 20% tax on billionaires’ income. The initiative will affect 700 households with assets worth more than $100 million. Authorities believe that the new tax could bring $360 billion in revenue over 10 years. U.S. President Joe Biden decided to introduce a tax of 20%, which will affect unrealized capital gains of American households worth more than $100 million, reports...
