Floods in Pakistan and India re-ignite the debate on the mounting cost of global disasters. Global natural disasters are striking harder and more often, with climate emergencies now breaking records year after year.The UN says a child born today faces a nearly nine in 10 chance of experiencing a catastrophic flood during their lifetime.The financial … Read more
Donald Trump pledges more deals like Intel stake, worrying business community. The US has taken a stake in Intel chipmaker as part of a push to secure domestic production and reduce reliance on China. The acquisition is the most significant intervention in private business since the 2008 financial crisis. Supporters call it a smart industrial … Read more
OPEC+ is opening the oil taps again, while Donald Trump’s tariffs target Russian crude buyers. OPEC+, which includes Saudi Arabia and Russia, has agreed to another large production hike in September. That’s despite a warning by the International Energy Agency, the extra barrels could tip the market into oversupply later this year. US President Donald … Read more
A trade tariff deal has been agreed between the European Union and the United States. The deal avoids threatened 30 percent tariffs, but some European leaders have already made their unhappiness clear. Poland’s prime minister admitted that his country could lose $2bn. France’s PM called the deal a submission and a dark day for Europe. … Read more
China’s cheap electric vehicles could help Europe meet ambitious climate targets but threaten jobs in Europe. China makes the cheapest electric vehicles in the world. Europe needs them to meet ambitious climate targets. But imports could send European car manufacturers into a tailspin. Will either side compromise? Also this week: President Trump is fighting hard … Read more
China’s GDP grew 1.1 percent from April to June despite US tariffs, official data shows. China’s economy grew by more than 5 percent in the second quarter, according to official data, staying on track to meet Beijing’s annual growth target despite United States President Donald Trump’s trade war. China’s gross domestic product (GDP) expanded by 1.1 … Read more
President Donald Trump has threatened to impose more tariffs on nations aligning themselves with BRICS. The BRICS bloc of developing nations aims to challenge the US-led economic order. In theory, it has the clout to push through reforms to global governance. But critics say the expanded group faces rifts among its members. BRICS leaders have … Read more
Donald Trump says his sweeping tax cuts will grow the economy. But, critics say the bill will increase national debt. Dubbed the “One Big Beautiful Bill Act”, President Donald Trump’s signature policy bill would slash taxes, largely benefitting the wealthiest Americans. To pay for it, federal spending would be reduced, including on Medicaid, food stamps … Read more
Vladimir Putin’s war economy is cooling, but Russians still feel richer Financial Times Russia’s struggling war economy might be what finally drives Moscow to the negotiating table CNBC Russia Classifies Budget As Ukraine War Costs Spiral Out of Control Newsweek Putin Has Retooled Russia’s Economy to Focus Only on War WSJ THE INTERVIEW: Russia’s wartime economy: a fortress or … Read more
US President Donald Trump hails deals during his three-country tour of the Gulf region. United States President Donald Trump has signed several economic deals on his visit to the Gulf region. One of the biggest deals was signed in Qatar, where Boeing secured its largest-ever order of wide-body jets from Qatar Airways. Doha also promised … Read more