World economy

Ukraine announces minerals-for-arms deal with US

27 Feb 2025

Ukraine on Wednesday announced that it has reached a framework agreement with the United States on joint exploitation of its natural resources in return for arms to fight warring Russians.

Conservatives win as Germans vote for change

24 Feb 2025

A Conservative bloc led by Friedrich Merz of the Christian Democratic Union (CDU) and the CSU has won German Federal Election

Japanese PM Ishiba, Trump concur on keeping US Steel American

09 Feb 2025

Japanese Prime Minister Shigeru Ishiba and US President Donald Trump have agreed that US Steel Corporation will remain American

Trump, Zelenskyy mull arms for minerals deal: report

09 Feb 2025

Ukraine’s President Volodymyr Zelenskyy is reported to be open for a deal with US President Donald Trump that would allow the United States to exploit rare minerals in Ukraine

US Fed keeps policy rates unchanged, for now

30 Jan 2025

The US Federal Reserve has decided to keep its policy rates unchanged, as the central bank saw no need for an immediate reduction in interest rates.

Trump takes US out of climate pact, WHO as he takes oath as 47th US President

21 Jan 2025

Donald Trump took oath as the 47th president of the United States on Tuesday, vowing to deport millions of illegal immigrants

As costs of saying final goodbyes rise UK families resort to crowdfunding to pay for funerals

By Axel Miller | 16 Jan 2025

The cost of saying a final goodbye to loved ones in the UK has reached a grim new high, leaving families grappling with unexpected financial burdens.

Oil edges upward, but ambiguity over sanctions restrains momentum

15 Jan 2025

Oil prices rose on Wednesday, reversing a part of an earlier session’s decline. The reason – apprehensions over potential disruptions tied to sanctions on Russian oil tankers

Biden administration delays enforcement of order blocking Nippon Steel and U.S. Steel deal

By Axel Miller | 13 Jan 2025

The Biden administration has delayed enforcing its order for Nippon Steel to abandon its $14.9 billion bid for U.S. Steel until June

Supreme Court leaning toward supporting TikTok ban in the U.S. amid national security concerns

By Axel Miller | 11 Jan 2025

The United States Supreme Court signaled on Friday that it may uphold a controversial law mandating a ban or a forced sale of the popular short-video app TikTok by 19th January 2025.

At least 10 dead, as California wildfires burn down thousands of homes and over 17,500 hectares of forest

10 Jan 2025

Raging wildfires, the worst to hit Los Angeles, California devoured 13,750 hectares of forest, burned down about 10,000 homes and other structures

European business leaders criticize U.S. protectionism under Trump administration

By Axel Miller | 09 Jan 2025

European business leaders, including Airbus CEO Guillaume Faury, have expressed concerns about the rise in U.S. protectionist policies during the administration of former President Donald Trump

Russian gas supply to Europe via Ukraine halts as transit deal ends

01 Jan 2025

Russia has been forced to halt gas supplies to Europe as a five-year gas transit deal with Ukraine expired on 1 January 2025 and Kiev refused to extend it any further.

Russia claims its 'Kalinka' system can locate and disrupt Starlink signals

21 Dec 2024

Russia is reported to have developed a system that can locate, track and destroy signals from SpaceX’s Starlink satellites that helped Ukraine accurately locate and destroy Russian targets during the ongoing conflict.

US Fed cuts Federal funds rate by 0.25% despite high inflation

20 Dec 2024

The Federal Open Market Committee on Wednesday announced a 0.25 per cent reduction in the target interest rate, bringing the federal funds rate to 4.25-4.50 per cent

Australia enacts law to bar children up to 16 years from accessing social media

29 Nov 2024

Australia on Thursday announced the passage of a bill to ban social media use by children up to the age of 16, after the bill was passed by both houses of parliament.

Climate talks end with a blunt $300 bn deal; fossil fuels not going any soon

24 Nov 2024

The UN climate summit COP29 in Baku, Azerbaijan took an extra 33 hours to hammer out a deal on climate financing and save the annual summit from certain collapse.

Americans need minimum annual income of $107,700 to afford a house, says new study

20 Nov 2024

Housing prices in the United States have skyrocketed, reaching unsustainable levels at current income levels of Americans.

India and Russia: a strategic economic partnership

By Venkatachari Jagannathan | 20 Nov 2024

Russian President Vladimir Putin is expected to visit India soon while the exact dates have not been finalised.

Canada ends Student Direct Stream channel for student visas

09 Nov 2024

Canada has stopped accepting study permit applications under the Student Direct Stream (SDS) channel from 2 pm (ET) of 8 November 2024

China calls off plan for €3.8 billion EV battery unit in Germany

07 Nov 2024

China has reacted sharply to European Union's decision to impose tariffs of up to 45 per cent on its electric vehicles by terminating all major projects in Germany and Italy.

Donald Trump makes a spectacular comeback

06 Nov 2024

Donald Trump rode back to power in the United States capping a fiercely contested campaign for presidency, overcoming a wave of intimidation, criminal cases and indictments by a desperate opposition.

IMF keeps global growth rate at 3.2% for 2024 and 2025

03 Nov 2024

Global economic growth is expected to remain around 3.2 per cent in 2024 and 2025 with some minor uptick in some advanced economies

IMF sees India’s GDP growth slowing from 7% in 2024 to 6.5% in 2025

23 Oct 2024

India’s economy in terms of Gross Domestic Product (GDP) is expected to grow at a slower pace of 7 per cent in the current year, ie, 2024 against the 8.2 per cent growth recorded in 2023.

Putin pushes new cross-border payment system to end dollar dominance

21 Oct 2024

Russian President Vladimir Putin has revived hopes of pursuing the BRICS agenda of creating a new cross-border payment system that would allow nations to make financial transactions