New York, United States - Tesla announced Friday that it signed an agreement to build its first grid-scale energy storage...
- Washington, United States - The US central bank is expected to hold interest rates steady Wednesday after its key policy...
The International Monetary Fund warned in a report that Lebanon's failure to implement reforms could have "irreversible" consequences for the...In April 2022, Lebanon and the IMF reached a conditional agreement on a $3-billion-dollar loan needed to save the economy.
Lebanese officials have still yet to enact the substantial changes required to kickstart the 46-month financing program.
Washington, United States - US economic growth came in at two percent in the first quarter this year, the Commerce Department...The growth of 2 percent for US economy is markedly higher than the annual rate of 1.1 percent originally estimated.
However, GDP growth in the world's biggest economy has still cooled from 2.6 percent in the final three months of 2022.
US Federal Reserve Chair Jerome Powell said stronger regulation and greater agility was required in supervising the banking sector following...Federal Reserve called for greater banking oversight while admitting its own supervisors had failed to take forceful enough action.
When SVB failed, it was clear that a number of standard assumptions from a regulatory standpoint "were wrong," the Fed chairman said.
In early June, European Union countries reached agreement on a long-stalled revision of the bloc's asylum rules. It aims to...The discussion will come two weeks after a boat believed to have been carrying hundreds of migrants capsized off Greece in one of the worst such tragedies in years
Amnesty International and other rights groups say the tragedy resulted from Brussels' "Fortress Europe" policy implemented over the past seven years
MANILA, PHILIPPINES - Asian Development Bank's financing partners committed US$11.4 billion to confinance projects in 2022 that boosted the resilience...The report reveals that ADB and its partners enabled the countries to face current and emerging shocks.
ABD and its partners financed projects that helped developing members strengthen trade and small businesses.
The Pacific bloc represents 12 of 55 votes in the United Nations' Asia-Pacific region, which also includes Saudi Arabia and...Saudi Arabia and the United Arab Emirates - two of the world's biggest crude oil producers - have been ramping up efforts to shed their reputations as global climate laggards
Both have been lavishing money and attention on small, isolated and often indebted Pacific nations, where rising sea levels are already creeping up on low-lying coastal communities
- Baghdad, Iraq-- An advisor to Iraq's Prime Minister said the country has effective price monetary policy tools to manage public...
The advisor to the Iraqi PM said that the budget's financing methods primarily involve Iraqi dinars in exchange for foreign currency
He further noted that the strength of monetary policy and foreign reserves stand at their highest level in the country's financial history
Ankara, Turkiye - The World Bank has announced its approval of $1 billion in financing to assist Turkiye in the...The bank highlighted that the financing will contribute to the restoration of healthcare services and the reconstruction of damaged or destroyed municipal infrastructure
The project aims to cover 11 provinces, which have been most severely impacted by the earthquake and where approximately 14 million people reside
“The World Meteorological Organization is extremely pleased with the UAE's actions, including the decision to increase investment in clean energy...The UAE's economy is less than 20 percent reliant on fossil fuels, setting a leading example in the Gulf region, says WMO Secretary-General Prof Jukka Petteri Taalas
The UAE's commitment to clean energy and the decision to host the IRENA headquarters align with WMO's strategy for addressing climate change, he points out
- The Fed recently paused its aggressive cycle of rate increases after 10 consecutive hikes, to give policymakers more time to...
"We believe there's more restriction coming," Powell told a central banking conference in Portugal on Wednesday.
Powell said that US monetary policy will likely take more time to act against high inflation, and bring it down to the Fed's long-term target of two percent.
