Ethiopia has completed the fourth and final filling of the Grand Ethiopian Renaissance Dam, a $5 billion hydroelectric project that has been opposed by Egypt and Sudan, leading to tensions and condemnation from downstream countries.
Implementing global standards and regulations is crucial to combat the increasing threat of cyberattacks and the role of artificial intelligence in modern warfare, as governments and private companies need to collaborate and adopt cybersecurity measures to protect individuals, businesses, and nations.
Fidelity's China fund is outperforming its competitors by investing in the country's big internet names, which are predicted to continue performing well, while value investing is also becoming popular in China.
India will evaluate the recommendations made by the IMF and the FSB on regulating crypto assets before deciding its stance, according to Ajay Seth, the secretary of the department of economic affairs.
Rising oil prices are making it harder for the Federal Reserve to achieve its 2% inflation target, as increased energy costs could lead to higher prices for goods and services, potentially complicating the Fed's plan to hold interest rates steady and achieve a "soft landing" for the economy.
UK Prime Minister Rishi Sunak has pledged $2 billion to the UN's Green Climate Fund, following the adoption of a 'green development pact' by G20 leaders to address environmental and climate challenges and support developing countries.
Canadian Prime Minister Justin Trudeau expressed his belief that the joint declaration issued after the G20 New Delhi Leaders' meeting would have been stronger, particularly on Ukraine, if it were solely up to Canada, emphasizing the importance of compromise in international forums like the G20.
The proposed India-Middle-East-Europe Corridor, seen as a rival to China's Belt And Road Project, will be a bankable project that brings in revenue and avoids the debt trap, according to Railway Minister Ashwini Vaishnaw.
African Union Chairperson Azali Assoumani thanked Prime Minister Narendra Modi for his support in including the 55-nation African Union in the G20, calling India the "fifth superpower of the world" and praising its power and influence; he also expressed Africa's openness to investment from countries other than China.
The global food commodity prices declined by 2.1 percent in August, driven by falling prices of essential food items, excluding rice and sugar, according to the latest report from the FAO.
The global food commodity prices experienced a 2.1 percent decline in August, primarily driven by falling prices of essential food items, excluding rice and sugar, according to the latest report from the Food and Agriculture Organization of the UN (FAO).
Google faces a trial over allegations of over-reaching its power on online search, marking a significant milestone in the influence of Big Tech; global fuel supply is strained by record-breaking heat, the possibility of a recession is seen as less likely, the G20 summit results in compromise language on Russia's invasion of Ukraine, the US Space Force launches early warning satellites to track potential threats from China or Russia, workplace diversity efforts may be affected by the Supreme Court's ruling against affirmative action, frugality pays off for Republican presidential candidates Nikki Haley and Mike Pence, Apple's product unveiling includes the iPhone 15 and new smartwatches, bond traders anticipate further interest-rate hikes by the Federal Reserve, and US retail workers face challenges including low pay and high turnover.
The global food commodity prices declined by 2.1 percent in August, driven by falling prices of essential food items, except rice and sugar, according to the latest report from the Food and Agriculture Organization of the UN (FAO).
Israel's fiscal deficit has widened to 1.3% of GDP as government spending rises and tax revenue declines, jeopardizing the country's fiscal deficit target amid a global economic slowdown and higher borrowing costs.
Italy's Prime Minister Giorgia Meloni stated that the country's decision to leave China's Belt and Road Initiative (BRI) is still under consideration, while highlighting the importance of maintaining a beneficial partnership with China beyond the BRI, during her visit to the G20 summit; Italy is the only G7 country to have joined the BRI, and this potential departure could be a diplomatic setback for Beijing.
India is considered a superpower in terms of population and is now ahead of China, according to Azali Assoumani, the chairperson of the African Union.
The 2023 New Delhi Summit of the G20 has been a success, with India demonstrating its ability to organize a global event; however, the summit's ability to produce substantial solutions to world problems, particularly the geopolitical crisis, is questionable. The summit managed to come up with a joint leaders' declaration, including language on Ukraine that accommodates all shades of opinion. The summit also focused on issues such as debt restructuring, climate change, renewable energy, artificial intelligence, and terrorism financing. However, the effectiveness of these actions will depend on whether countries actually implement them.
Regional banking stocks are experiencing a challenging year, but Wall Street equity analysts argue that their counterparts on the bond side got it wrong, pointing to rising bank stock prices and better-than-expected earnings reports as evidence that things are better than the bond rating agencies think.
Most stock markets in the Gulf ended higher in response to Friday's rise in oil prices, except for the Saudi index which closed lower.
Japanese Prime Minister Fumio Kishida plans to reshuffle his cabinet and implement "drastic" economic measures to boost Japan's fragile recovery, following a decline in approval ratings and slow economic growth.
The virtuous cycle of scale, innovation, and democracy in India is leading to more talent staying or returning to the country, which contributes to economic growth and strengthens the social contract, ultimately creating a promising future.
The value of the U.S. dollar has been strengthening against the Euro and the British Pound due to the continuing strength of the U.S. economy and the weakness of the European economies.
Global food commodity prices declined by 2.1 percent in August, driven by falling prices of essential food items, excluding rice and sugar, according to the latest report from the Food and Agriculture Organization of the UN (FAO). Dairy products, vegetable oils, meat, and cereals experienced decreases in price indices, while the sugar price index showed moderate growth. The report also highlighted a significant surge in rice prices due to disruptions in the rice trade following India's ban on exporting Indica white rice.
Despite previous concerns about the UK economy, revised GDP data shows that the economy had already recovered to its pre-Covid size in 2021, indicating that Brexit's impact on the economy has been weaker than previously thought.
U.S. equity markets experienced a downturn this week due to concerns about inflation, Federal Reserve statements, and trade tensions, with real estate equities and other yield-sensitive sectors particularly affected by rising interest rates, although hotel REITs rebounded due to improved forecasts for major hurricanes.
The global food commodity prices declined by 2.1 percent in August, driven by falling prices of essential food items, excluding rice and sugar, according to the latest report by the FAO.
World Bank president Ajay Banga has stated that the bank's vision is being redefined to focus on eradicating poverty on a livable planet and includes elements such as climate, fragility, and pandemics, while also emphasizing the collaboration with multilateral development banks and the inclusion of the private sector in renewable energy investments.
Global food commodity prices declined by 2.1 percent in August, driven by falling prices of essential food items, excluding rice and sugar, according to the latest report from the FAO. The decrease was observed in price indices for dairy products, vegetable oils, cereals, and meat, while the sugar price index saw moderate growth. The Rice Price Index surged by 9.8 percent due to disruptions in the rice trade caused by India's ban on rice exports.
Investors now have the opportunity to earn high interest rates on their cash deposits, with some potentially earning as much as 5% or more, marking the highest rates in 15 years, prompting financial advisors to urge savers to shop around for the best rates and avoid holding too much cash.
China is showing signs of a balance-sheet recession similar to Japan's, with accumulating debt and falling house prices, but there are key differences that suggest it may not face the same fate. State-owned enterprises and property developers account for much of China's debt, and households have low debt relative to their assets. However, the Chinese government's reluctance to increase spending could prolong the recession.
The global race for critical minerals is driving countries to tap into Africa's resource-rich continent to reduce reliance on China and strengthen their stockpile, presenting a promising potential source for diversification.
As China's economy falters, traders in the emerging-market ETF industry are shifting their cash towards actively managed strategies that focus on brighter spots in the developing world, such as India and Latin America, while pulling money out of passive, China-heavy strategies.
The share of wealth held by people under 40 in the UK has sharply declined, raising concerns about a potential increase in pensioner poverty in the future, as younger generations are already facing financial challenges and are unable to save enough for retirement.
Global food commodity prices saw a 2.1 percent decline in August, primarily driven by falling prices of essential food items, excluding rice and sugar, according to the latest report from the Food and Agriculture Organization of the UN (FAO).
The U.S.'s national debt has reached nearly $33 trillion and while debt has its uses, concerns are rising about its impact on the economy, particularly as the debt-to-GDP ratio nears 100%.
Russia has accumulated billions of rupees in Indian banks, but cannot currently use the funds, although India has proposed investment opportunities for the money, according to Russian Foreign Minister Sergei Lavrov.
Russia's Foreign Minister Sergei Lavrov announced that India will propose potential areas for Russian investment of the accumulated billions in rupees, as the two countries discuss how to use and invest the funds to their mutual benefit.
Global food commodity prices declined by 2.1 percent in August, driven by falling prices of essential food items excluding rice and sugar, according to the Food and Agriculture Organization of the UN. The decrease was due to reduced prices for vegetable oils, meat, dairy products, and cereals, while sugar prices saw a slight increase.
A new multibillion-dollar rail and shipping corridor called the India-Middle East-Europe Economic Corridor was announced at the G20 summit, which aims to enhance connectivity and integration between participating countries and boost economic growth in the Middle East.
Indian Prime Minister Narendra Modi called for global reforms and urged world leaders at the G20 summit to make global structures, including the UN Security Council, reflective of current realities and emphasized the need for India's permanent membership at the UNSC.
The Tadawul All Share Index in Saudi Arabia slipped by 0.55 percent, with the parallel market Nomu also experiencing a decline, while the best-performing stock was Saudi Steel Pipe Co.
The second great age of lunar exploration, led by countries such as India, Japan, China, and South Korea, could result in a new generation of space exploration spin-offs, including lower-cost space travel, economic growth in rising economies, and potential mining and colonization opportunities.
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Ethiopia completes the final filling of its controversial dam on the Nile River's main tributary despite external pressure, causing ongoing friction with downstream nations Egypt and Sudan.
The Africa Climate Summit highlighted the urgent need for global action on climate change and emphasized the role of Arab nations in supporting Africa's efforts to combat global warming through financial assistance and collaborative initiatives. The summit aimed to address Africa's vulnerability to climate change and promote a sustainable future for the continent. However, challenges remain in balancing economic potential in fossil fuels with the need for renewable energy development. Technology transfer from the Arab world is seen as crucial in enhancing Africa's resilience, particularly in renewable energy solutions and agricultural practices. Financial disparities and inefficiencies in securing funds for sustainable initiatives in Africa are evident, despite the growing global trend of increasing investments in clean energy. The transition to electric vehicles and the increasing market share of clean energy investments further emphasize the importance of supporting sustainable initiatives in Africa to combat climate change.
International Monetary Fund Managing Director Kristalina Georgieva calls for an increase in quota resources and $100 billion per year in climate funds from G20 members.
Egypt's annual inflation reached a record high of 39.7 percent in August, as the country faces an economic crisis exacerbated by soaring food and drink prices.
Saudi Arabia is undergoing a major transformation through its Vision 2030 plan, led by Crown Prince Mohammed Bin Salman, aiming to diversify its economy and secure its place on the global stage; despite controversies and challenges, the country's economy is booming, heavily reliant on oil, and is making significant investments at home and abroad.
India, along with the US and Europe, effectively countered China on the world stage during the G-20 summit by reaching agreement on a joint communique and bolstering India's status as a rising power capable of blunting China's global influence.
A video claiming water-logging at the G20 Summit venue in Delhi was debunked as exaggerated and misleading by a fact-check from PIB, clarifying that while there was minor water-logging which was promptly addressed, the venue is currently free from any water-logging.