The World Bank will “re-enter the nuclear space” and “support efforts to extend the life of reactors in countries that already have them and help support grid upgrades and related infrastructure,” bank president Ajay Banga e-mailed staff on 13 June.
Tag: Economy
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ECB SAYS LATEST RATE CUT WILL HOLD INFLATION AT THE RIGHT LEVEL
The European Central Bank’s (ECB’s) 5 June quarter-point interest rate cut brings its policy rate to a flat 2 percent. The reduction will ensure that inflation does not slip below the bank’s target rate of 2 percent, ECB chief economist Philip Lane said in a speech at a financial conference last week.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Job growth slowed for the second month in a row at private-sector firms according to employment estimates released by payroll company ADP. The company noted the private sector companies are hesitant to hire due to economic uncertainty.
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GOLD BULLION IS CENTRAL BANKS’ SECOND MOST PLENTIFUL RESERVE ASSET
Gold bullion has surpassed the euro to become central banks’ second most plentiful reserve asset in terms of value, according to a new report from the European Central Bank (ECB).
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SPOTLIGHT: BIGS GETTING BIGGER
Plans for several new mergers and acquisitions have been paused since Donald Trump’s 2 April “Liberation Day” tariff announcement, the Financial Times reported.
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SPECIAL REPORT: TRUMP’S TARIFFS, THE UPS AND DOWNS, FOR BETTER AND FOR WORSE
The Organization for Economic Cooperation and Development (OECD) has cut its forecast for U.S. economic growth by 25 percent this year, dropping it from 2.2 percent to 1.6 percent, warning that the biggest loser in Donald Trump’s trade war will be the U.S. itself.
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TOP TREND 2023, OFFICE BUILDING BUST: OFFICE REAL ESTATE MARKET REACHES TIPPING POINT
This year, the square footage of U.S. office building demolitions and conversions to other uses will exceed that of new office construction for the first time this century and probably longer, data service CBRE reported.
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CLEAN ENERGY FUNDING WILL DOUBLE THE AMOUNT FOR FOSSIL FUELS, IEA SAYS
This year, investments in clean energy infrastructure and technology will be twice the size of those for the coal, oil, and gas industries, the International Energy Agency (IEA) said in a new report on the sector.
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AS INFLATION EASES, INDIA SURPRISE WITH A HALF-POINT RATE CUT
In April, inflation in India ran at an annual rate of 3.2 percent, the slowest in almost six years, as food prices rose at a slower pace.