[caption id="attachment_6825" align="alignnone" width="1200"] Picture by Wired.[/caption] President Joe Biden will announce on Saturday during an Arab summit that the United States has committed $1 billion in the new near and long term food security assistance for the Middle East and North Africa region, a senior administration official said. Biden, on the second part of his first Middle East trip as president, has focused on the planned summit along with... Read More
The Federal Reserve will be on track for another big interest-rate hike in the later part of the month as the US inflation accelerates beyond forecast in June, underscoring relentless price pressures, as reported by the Money Control. The Money Control further reported, "The consumer price index rose 9.1% from a year earlier in a broad-based advance, the largest gain since the end of 1981, Labor Department data showed Wednesday.... Read More
According to government data released Friday, the consumer price index in the United States increased 8.6 percent in May compared to 2021, the largest increase since December 1981. CPI increased by 1% in May compared to April, following a 0.3 percent increase the previous month, according to the Labor Department, far exceeding analysts' expectations for a slight decrease in inflation pressures. According to the data, gasoline increased by 4.1 percent... Read More
Singapore Airlines Ltd's long-awaited flight to India might finally be ready for take-off. Travels resume and the carrier moves past the record annual loss it was reporting around this time last year, CEO Goh Choon Phong wants to track a multi-hub strategy, the one in which surge in aviation demand outside Singapore will benefit. "India is obviously a very important one because it's going to be massive," Goh told Bloomberg... Read More
Joe Biden announced three federal interventions in energy markets on March 31. One was the largest-ever strategic petroleum reserve discharge of 180 million barrels. He even used the 1950 Defence Production Act to encourage local production of essential minerals like lithium. Furthermore, he lobbied Congress to levy a price on oil and gas firms that hold fallow federal territory or drill on it. On one level, Joe Biden's decision to publish... Read More
On Friday, a US judge rejected a case accusing Amazon.com Inc. of antitrust breaches for preventing third-party sellers from providing better prices for similar items elsewhere. Amazon has prevailed in its quest to have a lawsuit launched against it by the Attorney General's Office of Washington, DC dismissed. After the judge granted the company's plea to dismiss the lawsuit, the company's office said it is reviewing its legal options. In... Read More
According to AMFI statistics, there were investor withdrawals in February across a number of debt plan categories. In February, outflows from duration programmes totalled Rs 33,320 crore. Inflationary pressures in the United States, rising oil costs, and the Ukraine crisis may have contributed to market jitters. Investors were not pleased with the volatility in some debt schemes' net asset values (NAVs) in February, according to fund managers. Fixed-income investors, according... Read More
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