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A third of world economies will be in recession by 2023 – IMF chief
The International Monetary Fund (IMF) chief Kristalina Georgieva warns that this year will be tougher on the global economy than last year. In a CBS Sunday interview, she said the US, EU, and China are all slowing down simultaneously. “One…
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Lagarde warns the ECB against allowing rapid wage growth to fuel inflation
There is a rapid increase in wages in the Euro zone. The European Central Bank should take steps to prevent this from adding to already high inflation, according to ECB President Christine Lagarde. The ECB has raised interest rates by a…
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UAE leads the Arab world in exporting manufactured goods
It has been reported by the Arab Monetary Fund (AMF) that the UAE ranked first in the Arab world in terms of the value of manufactured exports in 2021, with a total value of $142.5 billion. According to the AMF's Joint Arab Economic Report,…
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Significant quarterly rise in gold is expected after interest rates decline
Gold futures settled unchanged at $1,826.2 on the last trading day of 2022, while spot gold rose 0.2% to $1,818.70. The yellow metal rose on Friday, as the non-yielding metal is on track to close the quarter at its highest level since June…
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Biden signs a bill funding government operations for $1.7 trillion
Joe Biden signed a spending bill worth $1.7 trillion on Thursday that will fund the federal government through September 2023, the end of the federal budget year. Just before Christmas, the Democratic-controlled House passed the bill…
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Azuki collection NFT that Logan Paul bought for $623,000 is now worth $10
Logan Paul, a YouTuber-turned-boxer, purchased a NFT for $623,000 from the Azuki collection. There has been a massive downturn in the crypto market and the NFT niche in particular, resulting in a significant decline in the value of many…
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Bitcoin fell 75 percent since Nov 21 as analysts miscalculated
The market was awash with predictions predicting new record highs for bitcoin in 2022, from Tim Draper to top crypto executives. Others were less optimistic, and some correctly predicted bitcoin would sink below $20,000, even as low as…
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India is a world leader in sugar production and export
Minister for Agriculture and Farmers Welfare Narendra Singh Tomar stated that farmers are receiving more money directly into their accounts through the Direct Benefit Transfer scheme. This is the result of the scheme. As a result of the use…
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Consumer law violations cost Wells Fargo $3.7 billion in fines
As part of the settlement, Wells Fargo agreed to pay $3.7 billion in order to settle claims that it harmed customers by charging illegal fees, interest, and overdraft fees on auto loans and mortgages. Wells was ordered to repay $2 billion…
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Amazon Web Services awarded $700 million contract by U.S. Navy
Amazon Inc's cloud computing division was awarded a $723.9 million enterprise software license contract by the United States Navy. With the deal, the Navy will be able to access Amazon Web Services' (AWS) commercial cloud environment,…
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