Category : Business
Child poverty doubles as US grapples with post-COVID economy
As the US grappled with the aftermath of the COVID-19 pandemic, new data paints a bleak picture. Inflation-adjusted income witnessed a decline, while the child poverty rate more than doubled from 2021, according to the recent U.S. Census Bureau report. The U.S. economy’s tentative recovery after the pandemic experienced significant strains. The Census......
From India to Brazil, leadership transition marks G20 Summit’s conclusion
At the Bharat Mandapam in New Delhi, the curtains have come down on the 18th G20 Summit. With the close of the event, the responsibility of G20 leadership has transitioned from India to Brazil. In a significant gesture, India’s Prime Minister, Narendra Modi, handed over the ceremonial G20 gavel to Brazil’s President, Luiz Inacio......
African Union Inducted into G20 on India’s Initiative
In a groundbreaking move, the African Union was inducted as a permanent member of the G20 today. The induction took place in New Delhi at the opening session of the G20 Summit. Prime Minister Narendra Modi, leading the session, formally invited Azali Assoumani, the Head of the African Union, to assume this esteemed......
Biden and Modi cement ties as India ascends global stage
Yesterday, US President Joe Biden and Indian Prime Minister Narendra Modi convened at Modi’s official residence in New Delhi. In an atmosphere thick with camaraderie, they delved deep into avenues to intensify the economic and societal bonds between their nations. Following their discourse, Modi took to social media, emphasizing the productivity of their discussions......
Digital work revolution sees the world’s gig economy expand by 12 percent
A recent World Bank report has revealed that the ‘gig economy‘ comprises an unexpected 12% of the global labor market, surpassing previous estimates. This sector offers substantial opportunities, especially for women and young individuals in developing nations. While online gig work continues to grow in popularity, there remains an evident gap in......
ASEAN Summit in Jakarta sees PM Modi advocating India’s growing global impact
Prime Minister Narendra Modi marked his presence at the ASEAN-India Summit held in Jakarta, Indonesia, reflecting the deepening ties between India and the Southeast Asian nations. In his address at the 20th edition of the Summit, PM Modi emphasized that the ASEAN-India partnership, now in its fourth decade, is a testament to the......
Goldman Sachs accused of bullying culture in £1 million lawsuit
A former Goldman Sachs International employee, Ian Dodd, who served as the global head of recruiting from 2018 to 2021, has lodged a £1 million lawsuit in London, accusing the esteemed investment bank of fostering a “culture of bullying.” Dodd’s allegations paint a picture of a workplace where employees often “sobbed through......
Amid political turmoil, Pakistan’s currency faces historic low
Amidst a backdrop of economic fragility and reliance on foreign aid, Pakistan’s currency, the rupee (PKR), has once again fallen dramatically against the US dollar, marking a distressing record low, the country’s central bank reported. From Islamabad, the State Bank of Pakistan highlighted the US dollar’s trading value at a staggering 307.10......
Belgium’s €22 billion bond sale signals low bank rate frustration
In a historic move, Belgium has successfully raised a staggering €21.9 billion ($23.65 billion) from retail investors through a bond sale, eclipsing previous records and signaling the public’s growing dissatisfaction with stagnant bank deposit rates. Launched on August 24, this initiative represents the largest fundraising effort from households in Belgium’s......
Abu Dhabi’s registration authority fines KPMG for audit violations
Abu Dhabi Global Market’s Registration Authority (RA) has levied a $30,000 fine against KPMG Lower Gulf Limited for substantial audit shortcomings. The penalty comes after a detailed review which found that KPMG had been consistently failing to adhere to the RA’s audit regulations. Specifically, the firm was cited for failing to ensure that......