Economy
Iran pays UN debts, allowed voting rights
Iran has paid back US $16.2 million debt owed to the United Nations. The Iranian Ambassador to the UN Majid Takht Ravanchi wrote on Twitter “the UN announced it has received the funds.” A UN source revealed that the amount Read More
El Salvador world’s first country to use Bitcoin as legal currency
El Salvador has become the first country in the world to formally adopt cryptocurrency –bitcoin- legal tender after its Parliament voted Wednesday overwhelmingly to approve a law classifying Bitcoin as legal tender A move that analysts say risks putting its Read More
WB predicts fastest global rebound
World Bank on Tuesday raised its global growth forecast to 5.6 per cent for 2021, predicting that the fastest impending economic rebound in 50 years for the pandemic-devasted planet would be accelerated by vaccinations and massive government stimulus in rich Read More
SPIEF meet ends
Special Guest Qatar Amir lauds SPIEF's role in global economy The 24th St. Petersburg International Economic Forum (SPIEF) ends on June 5 (yesterday). It was kicked off in St. Petersburg on June 2. SPIEF is a unique annual event that Moscow Read More
APEC vows fast-track vaccine distribution
Asia-Pacific Economic Cooperation (APEC) agreed on achieving a strong economic recovery from the coronavirus pandemic, starting with accelerating vaccine distribution. New Zealand is the current chair of the APEC. The trade ministers from 21 Asia-Pacific region nations met virtually amid Read More
G7 nations give green light on global corporate tax rate
A group of the world's richest nations reached a landmark deal on Saturday (June 5) to close cross-border tax loopholes used by some of the world's biggest companies. Finance ministers from the world's seven wealthiest nations met face-to-face in London for Read More
COVID crisis to push global unemployment over 200 M: ILO
The economic crisis caused by the COVID pandemic is expected to contribute to global unemployment of more than 200 million people next year, with women and youth workers worst-hit, UN labour body said on Wednesday. More than one in six Read More
Lebanon crisis world’s worst since 1850s: World Bank
The World Bank (WB) has said Lebanon’s economic collapse is likely to rank among the world’s worst financial crises since the mid-19th century. “Lebanon’s economy is likely to shrink by 10 per cent,” stated in a report made public by Read More
Singapore, London take top arbitration slot
For the first time Asian city Singapore along with European city London, have taken the most popular seat – first place-- to conduct international arbitration. According to the 12th version of the School of International Arbitration (SIA) at Queen Mary Read More
Qatar goes with TIR to boost trade
The TIR system is going live in Qatar, boosting the country's position as a strategic trading partner and driving more efficient transport routes in the Gulf region. This announcement comes as an important step to enhance the position of the Qatar as a Read More