Turkey’s central bank announced the conclusion of its series of interest rate hikes, settling at a policy rate of 45 percent, up from 42.5 percent. This decision, aimed at combating record inflation and addressing the country’s cost of living crisis, marks a significant milestone in the bank’s efforts. Under the leadership of Governor Hafize Gaye […]

In the face of seismic global economic shifts, a recent study by the Association of Chartered Certified Accountants (ACCA) has unveiled critical challenges confronting small and medium enterprises (SMEs). The study, focusing on escalating costs, workforce dilemmas, and the evolving Environmental, Social, and Governance (ESG) reporting landscape, paints a stark picture of the current SME […]

In response to recent market fluctuations, China has unveiled a strategic plan to bolster market confidence amidst economic uncertainties. Premier Li Qiang, presiding over a cabinet meeting, acknowledged prevailing challenges, including a weakened housing market, sluggish demand, deflationary pressures, and geopolitical uncertainties. This acknowledgment comes as Chinese shares experienced a notable downturn, prompting concerns about […]

In a strategic move, the Biden administration has announced a targeted $4.9 billion student loan forgiveness initiative, providing relief to 74,000 borrowers. This comes as a measured response after the Supreme Court rejected a broader $400 billion loan forgiveness plan in June 2023. This initiative specifically addresses the challenges faced by public servants, including teachers […]

In a sobering report, Oxfam reveals that nearly 800 million workers worldwide have collectively lost $1.5 trillion to inflation over the past two years. This equates to almost a month’s wages for each affected worker, highlighting a stark reality of economic challenges faced by the global workforce. The report underscores the impact of rising essential […]

At the World Economic Forum in Davos, Secretary of State Antony Blinken reinforced the United States’ commitment to addressing global food security challenges. Collaborating with the African Union and the Food and Agriculture Organization, Blinken introduced the Vision for Adapted Crops and Soils (VACS) initiative, a crucial facet of the USAID’s Feed the Future program. […]

In a groundbreaking move, Congressional negotiators have finalized a monumental $78 billion tax deal aimed at providing substantial support to both businesses and low-income families, according to credible sources. The eagerly anticipated package, set to be officially unveiled by the House Ways and Means Committee, led by Republican Jason Smith, includes strategic provisions to address […]

In a strategic move towards financial innovation, the Nigerian Securities and Exchange Commission (SEC) has granted NASD PLC the approval to launch its groundbreaking Digital Securities Platform (N-DSP) under the Regulatory Incubation (RI) Programme. This comes on the heels of the recent Central Bank of Nigeria’s decision to lift the ban on trading digital assets, […]

In a candid interview at the IMF Headquarters in Washington, D.C., Managing Director Kristalina Georgieva shed light on the economic challenges looming on the horizon as over 80 countries brace for elections this year. Addressing the press before her departure to the World Economic Forum in Davos, Switzerland, Georgieva underscored the intricacies of fiscal policy, […]

In a noteworthy display of bipartisan cooperation, Congressional leaders have sealed an essential agreement to avert a potential government shutdown. This development, strategically announced just before the looming January 19 and February 2 funding deadlines, is poised to maintain government operations until March 1 and 8. The linchpin of this arrangement is a short-term measure […]