Zimbabwe’s central bank will begin selling gold coins as a store of value this month in order to combat rampant inflation, which has significantly undermined the local currency. The central bank governor, John Mangudya, said in a statement on Monday… Read More ›
After a senior management at gas producer Gazprom announced a plan to broaden the payment arrangement, major Asian customers of Russian liquefied natural gas (LNG) claimed they had yet to receive requests to pay for supply in Russian roubles. The… Read More ›
The world’s seven major industrialized economies have proposed a price restriction on Russian oil in order to further constrain the Kremlin’s capacity to fund its offensive in Ukraine and to safeguard consumers from rising energy prices. However, the G-7′s pursuit… Read More ›
Another prominent Chinese developer has gone bankrupt, adding to the woes of the world’s second largest economy’s real estate sector. According to a company filing with the Hong Kong stock exchange, Shanghai-based Shimao Group failed to pay the interest and… Read More ›
A Federal Reserve indicator of economic growth suggests that the United States has entered a recession. Most Wall Street economists believe negative growth is more likely in the future, although it won’t happen until at least 2023. However, the Atlanta… Read More ›
The International Monetary Fund has terminated talks with Sri Lanka after failing to reach an agreement on a rescue package for the near-bankrupt country after 10 days. Nonetheless, the IMF agreed to continue the talks, which began on June 20,… Read More ›
According to surveys published Thursday, China’s massive industrial and service industries just saw their first month of growth since February, as Covid restrictions were loosened in numerous locations. However, the threat of more lockdowns lurks over the world’s second largest… Read More ›
Britain’s economy is under pressure from two huge risks: double-digit inflation and the possibility of a recession, leaving the Bank of England unsure how far it should hike interest rates. The Bank of England has hiked borrowing costs five times… Read More ›
In June, Eurozone economic morale decreased somewhat less than projected, as consumers and retail trade became more pessimistic, although sentiment in the industrial and services sectors recovered. According to the European Commission’s monthly survey, economic confidence across the eurozone’s 19… Read More ›
The chairman of the Federal Communications Commission in the United States has requested Apple and Google to remove TikTok from their app stores due to data security issues relating to China. The enormously popular short video app is owned by… Read More ›
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