World & Politics
IMF improves global GDP growth forecast - 04/07/2021
The global economy will grow at a slightly higher rate than previously expected over the next two years, the International Monetary Fund (IMF) believes. Its global growth forecast for 2021 was raised from 5.5% to 6%, for 2022 from 4.2% to 4.4%. Among developed countries, the US economy will be the fastest to recover, while among developing countries China and India will show the best performance....
US to call on countries around the world to impose a flat minimum tax on businesses - 04/06/2021
New US Treasury Secretary Janet Yellen will call on all countries around the world to set a minimum corporate tax rate in her first policy speech, Axios learned. US government fears local businesses will move to other jurisdictions because of Biden's plans to raise corporate tax from 21% to 28%. US Treasury Secretary Janet Yellen on Tuesday will call on countries around the world to introduce a...
Bloomberg warns of "lopsided" global economic recovery - 04/05/2021
The world's economies will be recovering quickly but unevenly in 2021, Bloomberg warns. Because of slow vaccination rates and tight monetary policy, some developing countries will lag behind the post-pandemic world leaders, the US and China. The global economy will recover from the pandemic crisis at a record pace, with Bloomberg Economics predicting growth of 6.9% in 2021 - the highest in more...
China benefits from Bitcoin hike - 04/05/2021
The rise in bitcoin's exchange price has benefited China and its digital yuan project, which is being actively pursued and promoted by the country's central bank, the People's Bank of China (PBOC), according to CNBC. This view is shared by monetary regulators in several countries. Work on the implementation of the digital yuan began in 2014. The PBOC stresses that it is a digital version of fiat...
Suez Canal Authority estimates damage from Ever Given accident at $1B - 04/01/2021
The damage to its administration from the blockage of the Suez Canal was about $1 billion, said Osama Rabie, the head of the administration. According to him, the investigation into the accident will take at least a week. The container ship Ever Given will not leave the canal until the investigation is completed. "We will keep calculations, take into account all the funds we have used since the...
International donors to give Syria over €5B - 03/31/2021
Countries participating in the Brussels 5 video conference on support for Syria will send about €5.3bn in grants and €5.9bn in loans to the country, European Commissioner for Crisis Management Janez Lenarčič has said. The UN had earlier asked international donors to provide $5.8m to Syrian refugees and $4.2m to those left behind in Syria. "International donors have allocated €5.3 billion in aid...
Katherine Tai: US will not lift customs duties on Chinese imports overnight - 03/29/2021
The United States is not ready to lift customs duties on goods imported from China, which were increased during Donald Trump's presidency, in the near future. However, lifting the high tariffs could be part of new trade talks with Beijing. The United States will not lift customs tariffs on imports from China overnight, but will be open to talks with Beijing. This was announced in a first...
Japan to lose nearly $1.37B due to non-admission of guests to the Olympics - 03/22/2021
Japan's economy will lose 150 billion yen (about $1.37 billion) because of the decision to hold the Olympics this summer without foreign fans, local media reported citing experts from Japanese think tanks. Economists with the Dai-ichi Life Research Institute cited by the Nikkei business daily believe that the economic effect expected by Tokyo from holding the Olympics will be reduced by 150...
China to seek reversal of Trump's anti-China decisions - 03/19/2021
Senior US and Chinese officials will meet in Alaska for the first time since Biden was elected. Beijing expects to get the White House to reverse Trump's anti-China decisions, but is not ready to compromise on Hong Kong and Taiwan, The Wall Street Journal has learned. Beijing plans to press Washington to reverse former US President Donald Trump's decisions against China, in the first face-to-face...
IATA launches international travel passport programme - 03/18/2021
The first passenger with a digital Travel Pass has arrived at London Heathrow Airport, the International Air Transport Association (IATA) has announced. The Travel Pass holder arrived on a Singapore Airlines flight from Singapore. The programme aims to make travel more affordable and safer in the face of the COVID-19 coronavirus pandemic. "Today's success is a big win in many ways. It gives...
