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.
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.
The economic landscape has presented an array of challenges that have profoundly affected the business community.
The retail, restaurant, manufacturing, and tech industries continue to be hit hard as prices increase and demand slows.
Volvo Cars has slashed its 2024 sales growth outlook for this year to 7 to 8 percent, cutting it from 12 to 15 percent it had predicted in an earlier downgrade.