Daily Management Review
Economics

Default limit on public debt in the US goes into effect

After a two-year hiatus, the $28.5 trillion national debt limit has come back into effect in the US. This robs the government of its ability to borrow and without urgent action by Congress threatens with a default by October, Bloomberg notes. The national debt limit, which sets the amount the U.S....

North Korea's economy hit by record in 23 years decline

North Korea's economy has experienced a record drop in 23 years. According to Yonhap, the country's GDP fell by 4.5 per cent in 2020. However, the calculations were carried out by South Korea's central bank, in the absence of such data from the DPRK itself. According to the Bank of Korea's...

US Second Quarter Economic Growth Reaches Surpasses Pre-Pandemic Levels

The gross domestic product of the United States economy cross its pre-pandemic peak as the country’s economy staged a solid growth in the second quarter with consumers spending more on goods and services helped by massive government aid and speedy vaccinations against Covid-19.   However,...

Social Commerce To Generate Sales Growth, Say Social Media Companies

Large investments are being made in shopping features by social media platforms, led by Facebook, along with Alphabet's YouTube, Snap Inc and Twitter, among others. The social media companies hope to drive revenue growth through this measure which was an overarching theme that emerged from the...

STMicro CEO Predicts Global Chip Shortage To Continue Till H1 Of 2023

According to the predictions of the chief executive of STMicroelectronics, the current global shortage of semiconductor chips that has affected the production of companies in a range of industries – including the likes of Apple Inc and Volkswagen AG, will not end any time soon and is most likely...

US Fed keeps the rate unchanged, indicates a step closer to employment and inflation targets

The US Federal Reserve (Fed) decided at the end of its July meeting to keep its key rate at 0-0.25% per annum. The watchdog also refrained from any changes to asset purchases, but noted the ongoing economic recovery and progress towards employment and inflation targets and in comments on this...

IMF expects global economy to recover unevenly

The global economy will grow by 6% this year and 4.9% next year, according to an updated International Monetary Fund (IMF) forecast. The trajectories of global economic recovery have become even more divergent, says the IMF's updated global macro forecast. Vaccination rates remain a key criterion -...

Global Markets Regulators Are Keeping Close Watch On SPACs

Special purpose acquisition companies, or SPACs, are being monitored by global securities markets regulators because of possible concerns over regulatory issues, according to securities markets regulators.   SPACs are shell companies that get themselves listed on the stock market and use the...

Private Equity Backed Investors Scrambling To Exit Chinese Education Market

A number of ventures and private equity investors in China are trying to find an exit from the market after they had made investments worth billions of dollars into the education sector of the country because of the move by Chinese authorities to end profit making by private tutoring firms from...

Latin America calls for a European Union-like structure

Countries of the Americas need to create a new model of coexistence, said President of Mexico Andrés Manuel López Obrador, called for this when he spoke at the celebration of the 238th anniversary of the birth of Simon Bolívar in Mexico City. He said that the old model of relations between all the...
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