Gita Gopinath takes over as International Monetary Fund’s (IMF) first Deputy Managing Director today as she stepped down for the position of Chief Economist. She will be succeeded by Pierre-Olivier Gourinchas, a French economist. In what could be called as her swansong, she delivered her final global economic outlook in which the IMF has downgraded...Read More
The Dollar General store in Lady Lake is facing fines for a “serious threat to public safety.” The store, located at 312 U.S. Hwy. 27/441, was the subject of a public hearing Tuesday morning in front of a special magistrate at Lady Lake Town Hall. Lady Lake Code Enforcement Officer Lori Crain provided numerous photographs...Read More
NEW HAVEN, Conn. (Project Syndicate)—The Federal Reserve has turned on a dime, an uncharacteristic about-face for an institution long noted for slow and deliberate shifts in monetary policy. While the Fed’s recent messaging (it hasn’t really done anything yet) is not as creative as I had hoped, at least it has recognized that it has a serious...Read More
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. UK government borrowing fell in December thanks to a rise in tax receipts, despite a jump in the cost of repaying the national debt. Public sector net borrowing, excluding state banks, dropped to £16.8bn last month,...Read More
While the world waits to see if Vladimir Putin will proceed with his threatened invasion of Ukraine, Russia’s menacing military posture is already hitting the Ukrainian economy hard. As fears over the Russian troop build-up on the Ukrainian border mounted on January 14, yields on Ukrainian sovereign Eurobonds in US dollars suddenly shot up to...Read More
NEW DELHI: Future Retail Ltd, which operates chains such as big bazaar and Easyday and Heritage among others, on Monday said it has missed payment of interest due on the dollar denominated notes (dollar Notes), listed on Singapore Stock Exchange, due to weakening of its liquidity position. The Kishore Biyani-led Future Group firm said due...Read More
Illustration: Philip Burke There’s a story that progressives like to tell about Larry Summers. The doyen of establishment economics is dining out with a populist politician. The two have made it through the meal with minimal awkwardness — their ideological tensions eased by booze and food — when Summers leans back in his chair and...Read More
Minister of Finance Mohamed Maait has said that the successful implementation of the Advanced Cargo Information (ACI) system in this record time sends a message to the whole world that Egypt, with its wise political leadership, can overcome challenges, change reality for the better, and regain leadership in various fields. During a meeting organised by...Read More
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