Economy

UK launches world’s first green savings bond: What the savers can get?

 UK launches world’s first green savings bond: What the savers can get?

Highlights The UK launched the world’s first retail green savings bond, issued by the National Savings and Investments The move follows after the UK has raised a total of £16 billion in green sovereign bonds since the last month ...

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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...

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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. ...

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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. ...

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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...

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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 ...

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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 ...

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Done with recession? What are the different kinds of economic recoveries?

Done with recession? What are the different kinds of economic recoveries?

The COVID-19 pandemic and the subsequent bouts of lockdowns imposed to counter it, triggered one of the most severe recessions in the history of the world economy. As consumption across the globe fell drastically, so did the employment levels. The w...

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Emotional health is paramount to your overall happiness: Here’s why

Emotional health is paramount to your overall happiness: Here’s why

Summary Symptoms of emotional health crisis may include sleep disorders, avoidance of friends and family, conflicts in relationships, substance abuse, and eating disorders. Thus, mental illness is closely tied to an individual’s emotional...

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Why UN thinks blockchain technology can help fight climate change?

Why UN thinks blockchain technology can help fight climate change?

Summary Recognizing its immense disruptive potential and benefits to society in a recent article, the UN revealed how blockchain helped the organization fast-track delivery of emergency funds. Blockchain can expedite climate action in three way...

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US economy adds 850,000 jobs in June as wages rise

US economy adds 850,000 jobs in June as wages rise

Summary It was the biggest gain since August 2020, exceeding economists' estimates but in line with their expectation of a continued improvement in the labor market. The US economy had added 583,000 and 269,000 new jobs in May and April, respec...

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