The latest decision by the local power regulator in Brazil, Aneel, to impose an additional charge on electricity bills due to low reservoir levels at hydroelectric plants has raised concerns among Brazilians. This move comes at a time when the country is experiencing a dry season and has led to consumers having to pay more
Economy
In recent years, Chinese lenders have played a significant role in providing loans to African countries, fueling infrastructure development and economic growth on the continent. A recent independent study has revealed some interesting trends in Chinese lending to Africa, indicating a shift in China’s strategy and priorities. While Chinese lending to Africa saw a significant
China’s manufacturing sector has hit a six-month low in August, according to an official factory survey. The official purchasing managers’ index (PMI) fell to 49.1 from 49.4 in July, below the 50-mark that indicates a contraction in the sector. This decline has led to expectations that policymakers will need to introduce fresh stimulus measures, with
In a recent statement made by deputy governor Andrew Abir, it was revealed that the Bank of Israel is not expected to reduce short-term interest rates at its upcoming policy meetings in 2024. This decision comes as a response to increasing price pressures and ongoing geopolitical risks in the region. The central bank has maintained
The recent decision by the electoral commission in Poland to cut state funding for the Law and Justice (PiS) party has raised questions about the consequences of misusing public money for campaigning. The loss of millions in funding for the largest opposition party in Poland is likely to have a significant impact on its future
Recently, Deputy Governor Andrew Abir of the Bank of Israel made a statement indicating that the central bank is unlikely to lower short-term interest rates at its upcoming policy meetings. This decision comes in light of rising price pressures and persisting geopolitical risk. The Bank of Israel had previously held its benchmark interest rate at
The overall sentiment in the Asian markets on Wednesday appears to be cautious, primarily due to two key factors. These factors are likely to keep the markets within narrow trading ranges. The concerns revolve around the uncertainty surrounding the U.S. economy and the pending earnings report from Nvidia. Despite the marginal increase in U.S. and
Federal Reserve Chair Jerome Powell’s recent speech at the Jackson Hole Economic Symposium indicated a notable shift in the central bank’s stance on monetary policy. Powell’s remarks highlighted the Fed’s readiness to lower interest rates, aligning with market expectations for multiple rate cuts. This move reflects a shift towards prioritizing the labor market over inflation,
The recent discussions between Thailand’s central bank and the finance ministry have brought to light the clash of views on certain key issues. Prime Minister Paetongtarn Shinawatra has raised concerns about central bank independence, referring to it as an “obstacle” to economic growth. This comes after her predecessor, Srettha Thavisin, was removed from office by
Pavel Durov, the billionaire founder and CEO of the popular messaging app Telegram, was reportedly arrested at Bourget airport in Paris. This incident has sparked a wave of speculation and concern about the future of the app, which has gained significant traction in regions like Russia, Ukraine, and former Soviet Union republics. Durov, who founded