The Federal Reserve, in an unexpected turn of events, has announced significant losses exceeding $100 billion, as disclosed in central bank data released on Thursday. This alarming financial situation has raised concerns about the possibility of further losses in the foreseeable future. The central bank of the United States finds itself in an unsettling financial […]

France is taking proactive measures to combat inflation, with Prime Minister Elisabeth Borne revealing plans to temporarily suspend a longstanding ban on retailers selling road fuel below cost. This decision comes as the country grapples with a summer surge in pump prices, posing challenges to the government’s efforts to control consumer inflation. TotalEnergies, a prominent […]

Global debt has reached a remarkable $307 trillion during the second quarter, marking a significant $47 trillion increase from its pre-pandemic levels. This surge in debt is primarily attributed to the ongoing adjustment to rapid monetary policy tightening by central banks, a phenomenon outlined in a report by the Institute of International Finance (IIF). Despite […]

Argentina is facing an unprecedented economic challenge as its annual inflation rate skyrocketed to a staggering 124.4% in August, marking its highest level since 1991. This inflation surge is exacerbating an already critical cost-of-living crisis, with profound implications for the country’s economy and its people. In August alone, the inflation rate reached 12.4%, a figure […]

The Organisation for Economic Development (OECD) has released its updated global economic growth outlook, revealing a complex tapestry of shifting dynamics. In a surprising turn, the OECD has upwardly revised its 2023 global Gross Domestic Product (GDP) growth forecast to 3.0%, up from the earlier 2.7% estimate provided in June. This unexpected boost is primarily […]

The International Monetary Fund (IMF) revealed in its latest update to the Global Debt Database that global debt as a percentage of economic output experienced a notable decrease in 2022. This marks the second consecutive year of decline, following strong growth and unexpected inflation trends. However, caution is warranted, as experts anticipate a potential reversal […]

Recent data from the Bank of England’s quarterly survey reveals that residential mortgages in the UK have hit a seven-year high in arrears, totaling £16.9 billion in the three months leading up to June 2023. This figure reflects a notable 28.8% increase compared to the same period in the previous year. This concerning surge in […]

In response to mounting depreciation pressures on the Chinese currency, the People’s Bank of China (PBOC) is implementing stricter controls over bulk dollar purchases by domestic corporations. Reuters disclosed that companies seeking to acquire $50 million or more in foreign currency will now require approval from the PBOC. Over the weekend, the central bank engaged […]

New Delhi, India: The G20 Summit 2023 hosted in New Delhi’s Pragati Maidan concluded with a joint declaration by world leaders, signifying significant progress on global issues. Despite initial doubts about reaching a consensus, the New Delhi Leaders’ Declaration was successfully adopted, reflecting India’s dedication to fostering international cooperation. The following are the Key highlights […]

China’s renminbi touched a 16-year low against the US dollar as the nation’s exports faced a fourth consecutive monthly decline in August, underscoring the ongoing challenges confronting the country’s manufacturing sector, the world’s second-largest. Renminbi Weakens on Export Contractions In a noteworthy development, the renminbi slipped by 0.1 percent to reach Rmb7.3259 per US dollar, […]