Economy

Ukraine war, price shocks have ‘darkened’ economic outlook, leaders warn at Davos – National

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Multiple threats to the global economy topped the concerns of the world’s wealthy at the annual Davos festival of ideas on Monday, with some pointing to the risk of a global recession. Political and business leaders gathered for the World Economic Forum (WEF) are meeting against a backdrop of inflation at its highest level in … Read more

EU Oil Embargo ‘In Days’ as Russia Signals Closer Ties with China | Russo-Ukrainian War

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The European Union is likely to agree to an embargo on Russian oil imports “within days”, according to its largest member Germany, as Moscow said it saw its economic ties with China grow after being isolated by the West over his invasion of the Ukraine. Ukrainian President Volodymyr Zelenskyy told world business leaders in Davos … Read more

Covid-19: A new billionaire has been minted almost every day during the pandemic

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Some 573 people have joined the ranks of billionaires since 2020, bringing the global total to 2,668, according to an analysis released by Oxfam on Sunday. That means a new billionaire was minted every 30 hours, on average, so far during the pandemic. The report, which It is based on data compiled by Forbes, it … Read more

Daily gas price check: Toronto and York among the highest gas prices in the GTA

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The average price of gasoline in Ontario on Monday is 198.9 cents per litre, down from Sunday’s average of 200.2, above last month’s average of 177.7 and last year’s average of 126, 2 per liter, according to the CAA. Ontario drivers continue to see eye-popping prices at gas stations, as record gasoline prices in Canada … Read more

Dow jumps more than 500 points on Monday as it tries to snap an 8-week losing streak

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The S&P 500 jumped on Monday as the market tried to recoup some of the losses from a relentless sell-off that has gripped Wall Street. The broad market index advanced 1.4%, while the Dow industrial average gained 572 points, or 1.8%. The Nasdaq Composite rose 0.8%. “The market was trying to rally at the open … Read more

How has Nigeria’s digital currency fared since its launch? | cryptonews

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Abuja, Nigeria – James Ndubuisi, in-house counsel at Lagos-based entertainment firm SoundHive Group, is sure he doesn’t need eNaira, Nigeria’s official digital currency, or its app. “It has to be thrown out completely,” the 30-year-old told Al Jazeera. He downloaded the app on the same day it was released, October 25, 2021. Months later, he … Read more

The Bank of England is leading us straight to a terrifying iceberg

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AN Andrew Bailey, governor of the Bank of England, admitted last week that “forecasting 10 per cent inflation and saying there’s not much we can do about it is an extremely difficult place to be…This is a bad place to be. in.” It’s the sort of thing that Captain Edward Smith might have argued a … Read more

India sends food, medicine donations to crisis-hit Sri Lanka

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Sri Lanka has received a first shipment of a $16 million humanitarian aid package from neighboring India to help alleviate severe shortages caused by the country’s worst economic crisis in recent history. For KRISHAN FRANCIS Associated Press May 23, 2022, 7:53 • 3 minutes of reading Share on FacebookShare on TwitterEmail this article COLOMBO, Sri … Read more