In signs of a worsening power crisis in China, the country’s largest provincial economy warned of worsening power shortages despite Beijing’s best efforts to boost coal supply and boost electricity production. According to analysts, China’s power crisis is expected to… Read More ›
economy
Potential security threats from migration out of Afghanistan should be dealt with seriously: EU Home Affairs Commissioner Ylva Johansson
In a statement EU Home Affairs Commissioner Ylva Johansson said, Europe must take potential security threats arising from migration out of Afghanistan more seriously. “On the terrorist threat from Afghanistan, I must say that my assessment is that the alert… Read More ›
Austria will implement carbon pricing in the biggest tax overhaul in its modern history
As part of an overhaul of its taxation regime, Austria will implement a carbon levy of 30 euros per tonne said government officials while adding, the move is aimed at rewarding behaviour that helps protect the environment while cutting corporate… Read More ›
Caribbean nations and Latin American countries push for EU type economic bloc
In a significant development, in a summit that took on Saturday, Mexico’s president and other leaders said, Caribbean nations and Latin American countries should aspire to form a bloc similar to the European Union in a bid to wrest away… Read More ›
UK should flip business tax on its head: Confederation of British Industry
In a statement the Confederation of British Industry has urged British finance minister Rishi Sunak to not raise taxes and instead offer assistance to meet challenges stemming from COVID-19, climate change and Brexit. Sunak is scheduled to make major budget… Read More ›
Racial inequalities cost US economy $51 trillion since 1990
According to a paper presented at The Brookings Institution, racial and ethnic inequities have cost the U.S. economy nearly $51 trillion in lost output since 1990, said San Francisco Federal Reserve President Mary Daly. Daly is one of the three… Read More ›
German industrial orders surge during Q2
On Monday, official figures from the German government show that industrial orders have surged in July, hitting a post-reunification high and pointing to a solid start to the second half in the engine room of Europe’s largest economy. The figures… Read More ›
Chinese factory activity grows at slower pace, services sector contracts for first time Since April 2020
For the first time in since April 2020, China’s factory activity contracted in August despite COVID-19 containment measures, rising prices of raw material and adjustments in supply bottlenecks weighed on production output in a surprise blow to the economy. This… Read More ›
Turbulent US exit from Afghanistan sees GDP fall by 9.7%
In a report Fitch Solutions said, Afghanistan’s economy is likely to collapse following the turbulent withdrawal of U.S. forces following the Taliban’s grabbing power. The research arm of the credit ratings agency now expects the country’s real gross domestic product… Read More ›
Britain pushes G7 for new economic sanctions on Taliban
Britain plans on collaborating with world leaders to consider imposing new sanctions on the Taliban, which took control of Afghanistan following the disorderly exit of US troops from the country. The G7 is scheduled to meet on Tuesday to discuss… Read More ›