Zambia Declines China's Request for World Bank to Join its Debt Restructuring
Zambia's Minister of Finance has rejected China's request for the World Bank and other international lending institutions to participate in restructuring the nation's debt. The Minister also stated that any [...]
IMF Urges China to Relax Policies as Further as Economy Shows Signs of Recovery
The International Monetary Fund (IMF) has recommended that in 2023, China should redirect government spending towards households, loosen monetary policy, and take additional steps to support the real estate industry [...]
Australia Reveals Plans to Remove the British Monarch Image from its Banknotes
The Reserve Bank of Australia (RBA) announced on Thursday that it has plans to replace the late Queen Elizabeth II's image on its $5 banknote with a design that honours [...]Fed Hikes Interest Rate by 0.25%
The Federal Reserve officials raised interest rates by 25bps following its Jan. 31st -Feb 1st meeting, the smallest adjustment since March. The Federal Open Market Committee (FOMC) decided to increase [...]Global Inflation Projected to Fall to 6.6% in 2023-IMF
International Monetary Fund (IMF) projected global inflation to decrease from 8.8% in 2022 to 6.6% in 2023 and 4.3% in 2024, still higher than the pre-pandemic levels of about 3.5%. [...]IMF Approves $105 Million Food Shock Window to Haiti
The International Monetary Fund (IMF) on Monday approved emergency aid of $105 million for Haiti, which has long been mired in a humanitarian crisis that has been exacerbated by recent [...]Microsoft to Lay Off 10,000 Employees Over Economic Downturn
Microsoft announced that it would lay off 10,000 employees in the coming months due to economic downturn and changing customer priorities. The job cuts will affect slightly less than 5% [...]China's Economic Growth Falls to 3% in 2022 on the Back of COVID-19 Resurgence
China's economic growth in 2022 slumped to one of its worst levels in nearly half a century as the fourth quarter was hit hard by strict COVID curbs and a [...]Nigeria’s GT Bank Fined in UK Over Money-Laundering Controls
Britain’s financial watchdog has fined the UK subsidiary of Nigeria’s Guaranty Trust Bank 7.6 million pounds ($9.3m) for what it says are further failures in its anti-money-laundering systems and controls. [...]Celo Introduces New Brand Identity to Promote Mainstream Adoption of Web3 Technology
San Francisco January 11, 2022 The Celo Foundation, which nurtures and promotes the mobile-first, carbon-negative layer-1 Celo blockchain and its ecosystem, has unveiled a new brand identity and [...]
World Bank Cuts Global Growth Forecast to 1.7% on Rising Inflation Rates
The World Bank sharply lowered its growth forecast for the global economy this year as persistently high inflation has elevated the risk of a worldwide recession. The bank expects global [...]BioNTech to Acquire 100% of InstaDeep Shares
BioNTech and InstaDeep announced on monday that they have entered into an agreement under which BioNTech will acquire InstaDeep, a leading global technology company in the field of artificial intelligence [...]
