The Israeli Knesset on Monday easily passed legislation to ban UNRWA from any of its territory, drawing swift rebuke from the U.S. because of the role the UN agency plays in the lives of Palestinians in Gaza and the West Bank.
Author: admin
Post
EUROPE’S ECONOMY CONTINUES TO WEAKEN
Europe’s economic output is poised to fall further and further behind the U.S.’s as this decade progresses, largely due to Europe’s “lack of business dynamism,” the International Monetary Fund (IMF) warned last week.
Post
BANK OF CANADA CUTS INTEREST RATE BY HALF A PERCENT
Faced with Canada’s sinking economy, the Bank of Canada (BoC) cut its key rate from 4.25 percent to 3.75 percent on 23 October.
Post
BRICKS AND MORTAR ARE BACK IN STYLE WITH EUROPE’S RETAILERS
Europe’s retailers are trending back to physical stores as they battle for customers with giant e-commerce firms.
Post
RUSSIA’S CENTRAL BANK JACKS INTEREST RATE TO 20-YEAR HIGH
The Bank of Russia has raised its key interest rate to 21 percent, the highest since 2003, as runaway military spending pushes inflation’s pace to an average of 8.8 percent this year, bank governor Elvira Nabiullina said in a press briefing.
Post
WOLFSPEED ABANDONS PLAN FOR CHIP FACTORY IN GERMANY
U.S. chip maker Wolfspeed has suspended plans to build a €3-billion, cutting-edge semiconductor factory in Germany, damaging chancellor Olaf Scholz’s plan to transform the country into a high-tech hotbed as its flagship auto industry continues to decline.
Post
VW WILL SHUT THREE FACTORIES, LAY OFF THOUSANDS, LABOR LEADER SAYS
Volkswagen plans to shut down at least three of its assembly plants in Germany, downsize its other plants in the country, and lay off tens of thousands of workers, Daniela Cavallo, chief of the company’s works council, told Reuters.
Post
BRICS NATIONS WILL NOT CREATE OWN ALTERNATIVE TO SWIFT, PUTIN SAYS
The BRICS trading bloc of emerging economies have not created and are not creating an alternative to the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which enables smooth transfer and settlement of international l payments among governments, banks, and businesses.
Post
WORLD’S GROWTH SHIFTING TOWARD BRICS NATIONS, IMF SAYS
China will account for 22 percent of global economic growth over the next five years and India 15 percent, according to the International Monetary Fund’s (IMF’s) new economic outlook report.
Post
GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that have profoundly affected the business community.