Indonesia’s President-elect Prabowo Subianto has been at the center of controversy regarding the country’s public debt and its impact on the economy. With contrasting reports surfacing about his plans to increase Indonesia’s debt-to-GDP ratio to 50%, it is essential to analyze the potential consequences of such fiscal decisions. Denial of Debt Increase Contrary to reports
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Chinese Premier Li Qiang’s recent visit to Australia marks a significant moment in the relationship between the two countries. Li stated that relations are “back on track” after a period of turbulence, signaling a new chapter in their diplomatic ties. This visit is especially noteworthy as it is the first time a Chinese premier has
The latest research by Goldman Sachs economists has shed light on the potential consequences of U.S. immigration policies following the upcoming election. In 2020, net immigration to the U.S. soared to approximately 2.5 million individuals, significantly bolstering labor force and GDP growth, while also helping to mitigate wage pressures. Looking ahead to 2024, Goldman Sachs
The global economic outlook, as predicted by Citi economists, is facing significant changes in the near future. The Federal Reserve (Fed), the European Central Bank (ECB), and the Bank of England (BOE) are all expected to cut interest rates in September. This decision is based on various factors such as resilient services sectors, persistent inflation
The box office has seen a resurgence in recent times, with Disney+ and Pixar maintaining a strong hold over moviegoers. Despite initial doubts about the impact of streaming services on theater attendance, it is clear that the release of “Inside Out 2” has generated significant buzz. The film is projected to have the biggest opening
Boeing’s Starliner capsule, named “Calypso,” is set to remain at the International Space Station for twice as long as originally planned, NASA announced on Friday. This extended stay is part of the developmental mission known as Boeing’s crew flight test, which involves a series of tests being conducted on the Starliner while it is docked
The Pentagon recently announced the winners of its rocket launch contract sweepstakes, with Jeff Bezos’ Blue Origin securing a spot for the first time. This marks a significant milestone for Blue Origin, as it is now part of the contracts awarded under the Pentagon’s $5.6 billion National Security Space Launch program. Alongside Blue Origin, Elon
In a recent meeting held at Borgo Egnazia, Italy, the Group of Seven (G7) leaders are contemplating additional measures to address the trade imbalance with China and safeguard their economic interests. According to a senior U.S. official, there is an expectation of unprecedented unity among the G7 nations in confronting China’s non-market policies and practices.
The recent liquidation of China Evergrande Group has sent shockwaves through the financial world. Once the largest property developer in China, Evergrande’s failure to deliver a restructuring plan for its $23 billion worth of offshore debt led to a court-ordered liquidation in January. As part of the liquidation process, lawyers appointed by the liquidators are
In a time where corporate expenses seem to be spiraling out of control, one startup is aiming to revolutionize the way companies manage and monitor employee spending. CleverCards, a Dublin-based firm, recently secured an impressive 8 million euros in funding from investors, despite the financial technology industry facing a period of reduced investment. A 2016
As central bank decisions in Britain, Switzerland, and Norway loom, the global rate cutting trend is expected to slow down, signaling a potential shift in monetary policy. The Bank of England is unlikely to cut rates before July 4th, shattering hopes for an immediate rate cut. Market expectations point towards easing in the near future,
The recent decision by the Bank of Japan to trim bond buying in the future has sent shockwaves through the market. While the central bank has stated that it will continue to buy government bonds at the current pace, the lack of a specific plan regarding the reduction until the next meeting in July has
The G7 summit, held in Italy, saw discussions on various critical issues including support for Ukraine, concerns about China, and a historic appearance by Pope Francis to talk about artificial intelligence. The presence of leaders from around the world highlighted the inclusive nature of the summit, breaking away from the perception of an exclusive club.
Elon Musk, the visionary CEO of Tesla, made bold claims at the 2024 annual shareholder meeting about the potential impact of Optimus humanoid robots on the future of the company. Despite his track record of ambitious promises, Musk’s vision for the future of Tesla is centered around advancements in robotics, artificial intelligence, and autonomous driving.