In response to surging retail rice prices and widespread crop damage caused by late monsoon rains, India, one of the world’s top rice exporters, has taken the bold step of banning the export of non-basmati white rice with immediate effect. This move has raised concerns in the global market, as India accounts for over 40% […]

The UK inflation rate has significantly cooled in June, surprising economists by coming in below consensus expectations at 7.9% annually. Analysts polled by Reuters had projected an annual rise in the headline consumer price index of 8.2%, following May’s hotter-than-expected 8.7% reading. While this decline is encouraging, annualized price rises still exceed the Bank of […]

In a concerning development for China’s economy, youth unemployment has reached an all-time high, adding further strain as the country’s post-pandemic recovery stumbles. Official figures reveal that the jobless rate for 16 to 24-year-olds in urban areas skyrocketed to 21.3% last month, sparking alarm among economists and policymakers. As the world’s second-largest economy, China’s growth […]

Russia has decided to terminate its participation in the crucial Black Sea Grain Initiative agreement, which allowed Ukraine to export its grain by sea despite Moscow’s naval blockade. The deal, brokered by the United Nations and Turkey in July 2022, aimed to stabilize global food prices and alleviate some of the fallout from the ongoing […]

Global public debt has reached an all-time high of $92 trillion, according to a recently released report by the United Nations. The alarming figure highlights the growing burden of debt faced by countries around the world, particularly developing nations. The report, titled “A World of Debt,” underscores the challenges posed by escalating external debts, cascading […]