In a comprehensive Global Trade Update released on Monday, the United Nations Conference on Trade and Development (UNCTAD) painted a sobering picture for the world economy, projecting a 5% contraction in global trade for 2023 compared to the previous year. The total estimated commerce value for the year stands at approximately $30.7 trillion. The report […]

Argentina stands at a critical juncture as Javier Milei, an unconventional economist turned president, assumes office with a commitment to undertake profound economic reforms. In his inaugural address outside the Buenos Aires congress, the 53-year-old leader declared an end to the nation’s era of “decadence and decline” and outlined his vision for a comprehensive overhaul. […]

The average long-term U.S. mortgage rate has reached its lowest point in four months, bringing potential relief to homebuyers navigating a challenging market. Freddie Mac’s latest data showcases a substantial drop in the average 30-year mortgage rate, sliding from 7.22% to 7.03% over the past week. This is a notable shift from the 6.33% recorded […]

Overview:Private payrolls in the United States witnessed a moderate increase of 103,000 workers in November, according to a report by ADP. The figure, falling slightly below the revised October count of 106,000, failed to meet the Dow Jones estimate of 128,000. Sector-Specific Insights:While the leisure and hospitality sector, a significant job creator since the pandemic’s […]

India is on a trajectory to become the world’s third-largest economy by 2030, according to a report by S&P Global Ratings. The country, currently ranked fifth, is expected to maintain its status as the fastest-growing major economy for the next three years. S&P projects a growth rate of 6.4% for the ongoing fiscal year, with […]

Moody’s Investors Services has painted a cautious outlook for global banks in 2024, citing a confluence of factors that could pose substantial challenges. The credit rating agency points to sluggish global growth, an elevated risk of borrower defaults, and increasing pressure on profitability as key concerns. The backdrop for these concerns includes prior central bank […]

The Biden administration has unveiled a comprehensive plan to regulate methane emissions from the U.S. oil and gas industry. This announcement, made at the United Nations COP28 climate change conference in Dubai, signifies a crucial step towards global efforts to curb the impact of methane, known as a ‘super pollutant,’ due to its higher warming […]

The aftermath of the coronavirus pandemic has left China grappling with a historic surge in defaults, underscoring the depth of the country’s economic challenges and the hurdles hindering a complete recovery. As economic woes persist, a record-breaking 8.54 million individuals, predominantly aged between 18 and 59, find themselves officially blacklisted by authorities for failing to […]

Sri Lanka has successfully negotiated a historic agreement with a consortium of major international creditors, including economic powerhouses China, India, and Japan. The restructuring deal, amounting to approximately $6 billion, represents a key milestone in the nation’s efforts to navigate its financial challenges. This agreement is pivotal for Sri Lanka as it positions itself to […]

In an unprecedented move, the International Monetary Fund (IMF), the World Bank, and the Bank for International Settlements (BIS) are joining forces for the first time to explore “tokenization,” a novel approach to enhance their global financial operations. The collaboration extends beyond these institutions, encompassing Switzerland’s central bank, recognized for its pioneering work in tokenization. […]