World News

China’s Evergrande debt bomb: Here’re key developments

 China’s Evergrande debt bomb: Here’re key developments

Highlights Chinese real estate giant Evergrande Group has a debt of US$300 billion. It is under a severe cash crunch and signaled it out this week, worrying investors. Evergrande’s rating has been downgraded by Fitch, Moody last week, an...

Read More...
US GDP grew by 6.5% in Q2, falls short of expectations

US GDP grew by 6.5% in Q2, falls short of expectations

Summary The latest figure fell short of economists’ expectations. However, it was a slight improvement from the 6.3% growth rate in the first quarter of 2021. The second-quarter growth rate was higher than the pre-pandemic level, signific...

Read More...
UK begins Covid-19 vaccine donation, to give away 9 million jabs

UK begins Covid-19 vaccine donation, to give away 9 million jabs

Summary  The UK government will be donating nine million vaccines starting this week Indonesia, Jamaica and Kenya are amongst the countries who stand to benefit The government has pledged to donate 100 million vaccines by the end of June ...

Read More...
Planning to invest? Keep track of these economic indicators

Planning to invest? Keep track of these economic indicators

Summary Economic indicators can be used to better understand the economy and map out its future pace of growth. Using indicators such as GDP and relevant data on output can help investors view the market beyond just a set of graphs. GDP growth...

Read More...
What are the benefits and risks of a ‘vaccine passport’ for UK businesses?

What are the benefits and risks of a ‘vaccine passport’ for UK businesses?

The widespread availability of COVID-19 vaccines, increasing rate of vaccinations as well as businesses seeking to resume operations may all work in favour of providing vaccine certificates to know the vaccination or immunization status of any indi...

Read More...
Biden unveils new aid for mortgage borrowers

Biden unveils new aid for mortgage borrowers

Summary The plan seeks to extend the repayment time and lower monthly principal and interest rates for mortgages. It aims to prevent a repetition of the sharp increase in foreclosures that occurred after the 2008-09 economic crisis. It seeks t...

Read More...
Know what’s latest in the global economic calendar

Know what’s latest in the global economic calendar

Summary  Economies across the globe are actively recovering from the COVID-19 crisis, with major policy changes looming ahead. Improvement in the unemployment figures has cast expectations of inflationary spells in New Zealand and the US. ...

Read More...
Democratic Senators roll out draft bill to legalize marijuana

Democratic Senators roll out draft bill to legalize marijuana

Summary The bill seeks to legalize marijuana; the government would tax it at the national level. Prices of many pot stocks soared following the news. Eighteen states has legalized cannabis for recreational purposes and 37 for medical use. ...

Read More...
US inflation climbs 5.4% in June, highest growth in 13 years

US inflation climbs 5.4% in June, highest growth in 13 years

Summary The consumer price index grew 5.4% year over year in June, following a 5% increase in May. The core price index, which factors out food and energy, climbed 4.5 percent year over year. The increase in used cars and trucks prices contrib...

Read More...
OPEC+ crisis: Oil shoots to 6-yr high. What to expect?

OPEC+ crisis: Oil shoots to 6-yr high. What to expect?

Oil prices in the US surged to six years high following the failure of the OPEC countries to decide on how much oil to be produced. US benchmark West Texas Intermediate hit a six-year high to US$76.98 a barrel this week, and global benchmark Brent ...

Read More...
From India’s girl next door to IMF chief economist: The journey of Gita Gopinath

From India’s girl next door to IMF chief economist: The journey of Gita Gopinath

Days before the US Independence Day, on 2 July 2021, International Monetary Fund (IMF) Chief Economist Gita Gopinath was among the 34 immigrants honoured by a prestigious American foundation Carnegie Corporation – as a person "who has enriched ...

Read More...