When months are fall

Representative image The soaring dollar is propelling the global economy deeper into a synchronized slowdown by driving up borrowing costs and stoking financial-market volatility -- and there’s little respite on the horizon. A closely watched gauge of the greenback has risen 7% since January to a two-year high as the Federal Reserve embarks on an aggressive series of interest-rate increases to curb inflation and investors have bought dollars as a haven amid economic uncertainty. A rising currency should help the Fed cool prices and support American demand for goods from abroad, but it also threatens to drive up the import prices of foreign economies, further fueling their inflation rates, and sap them of capital. That’s especially worrying for emerging economies, which are being forced to either allow their currencies to weaken, intervene to cushion their slide, or raise their own interest rates in a bid to buttress their foreign exchange levels. ALSO READ: The Dollar … [Read more...] about Dollar’s strength pushes world economy deeper into slowdown

Share to Twitter Share to Linkedin Topline Nebraska Gov. Pete Ricketts (R) told CNN’s State of the Union on Sunday he hopes to work with the state’s GOP-dominated legislature to pass a statewide abortion ban—without exceptions for rape or incest—if the Supreme Court overturns Roe v. Wade, possibly joining several other states slated to ban abortion if the Supreme Court allows them to do so. Key Facts If the 1973 Roe v. Wade decision is overturned, Ricketts intends to call a special session of the state legislature to pass an abortion ban, he told CNN’s State of the Union anchor Dana Bash. Ricketts’ remarks came one month after an abortion “trigger law” —which would have automatically banned abortion if Roe is reversed— failed in Nebraska’s legislature by a vote of 31-15, two votes short of the 33-vote minimum to overcome a filibuster. The bill was subject to eight hours of debate, during which Democratic lawmakers argued the law … [Read more...] about Nebraska Governor Will Push For Total Abortion Ban If Roe V. Wade Is Overturned

Share to Twitter Share to Linkedin When the world gathered in Glasgow, Scotland for the COP26 UN climate convention, the conversation had not yet added “war in Europe” to the dual challenges of sustainability and biodiversity. Now, eight months later, in the Ukrainian port of Odesa, European Union Council President Charles Michel has described Ukrainian silos “full of grain, wheat and corn ready for export” locked in place by Russia’s wartime blockade of Black Sea ports. Independent data cruncher World Population Review estimates Russia and Ukraine together account for 30% of the global wheat trade. Today, global grain supplies are facing the one-two punch of not only climate disruption but also wartime supply shortages. The food you eat, the food that your food consumes, and perhaps some of your favorite libations are all affected as Russia’s invasion of Ukraine moves into a third month. In a world that has changed everyone and everything, the … [Read more...] about From Odesa To Your Dinner And Dram: How The War Over Fossil And Caloric Energy Supplies Is Shaping The 21st Century

India's federal agriculture and commerce ministries didn't respond to questions sent to them via email. Beyond India, other countries are also grappling with poor harvests that hinder their ability to help offset the potential shortfall of supplies from Russia and Ukraine, normally the world's largest and fifth-largest exporters of wheat. China's agriculture minister, Tang Renjian, said last month that the winter wheat harvest was likely to be poor, hindered by flooding and by delays in planting. (Image: AP) India has banned private wheat exports to redirect Indian wheat shipments to nations which need it more, officials have argued. This comes in the backdrop of wheat production estimated for 2022-23 now falling to 105 million tonnes, from the earlier 113.5 million tonnes estimated, according to latest government estimates released on Saturday. "There is no dramatic fall in production, and also no need to imagine a shortage," Commerce Secretary BVR Subrahmanyam told the press on … [Read more...] about Private wheat exports only banned to redirect shipments to nations which need it more: Officials

In the latest allegation against Thailand’s now infamous former deputy leader of the Democrat Party, a woman is accusing Prinn Panitchpakdi of indecent exposure in a restaurant in 2013, and rape in 2014. The alleged rape cannot be investigated because the victim didn’t report it within months of when it happened, and yet, police say they will summon Prinn to acknowledge the charge of indecent exposure next week. As Metropolitan police investigate 5 cases connected to Prinn, police in Phetchaburi and Chiang Mai are also looking into allegations against him in their provinces. With over 20 women now having come forward and accusing Prinn of sexual abuse and rape, this is being called Thailand’s #MeToo moment. Last month, Thai feminists protested in front of Democrat Party headquarters in Bangkok, and danced to an anthem titled “Sida Lui Faai” — i.e. “Sida Through Fire” — a reference to how victims of sexual abuse in Thailand are often blamed by the powers that be for the abuse … [Read more...] about Yet another allegation of sexual crimes against Thailand’s Prinn

Representative image China’s GDP growth forecast for 2022 has been cut by Fitch Ratings from 4.8% to 4.3% in the backdrop of rising coronavirus cases in the country, which led to the adoption of policies that restricted mobility in the important commercial hub of Shanghai aside from broader restrictions across the nation. The ratings agency has; however, revised its 2023 growth forecast for China from 5.1 percent to 5.2 percent based on the assumption that Beijing would gradually phase out its ‘dynamic zero-Covid’ policy over the next year. They explained that their forecast is subject to downside risk if containment measures fail to bring new outbreaks under control quickly or if the easing of current restrictions is delayed, and based on the assumption that Beijing would adhere to the ‘dynamic zero’ strictly until 2023. "Spillover to economic activity from Covid-19 pandemic-related disruption became apparent in March, with retail sales falling by 3.5%, the first YoY … [Read more...] about Fitch Ratings cuts China’s 2022 growth forecast amid uptick in COVID-19 cases

China's commercial capital of Shanghai was dealt a blow on May 2 as authorities reported 58 new COVID-19 cases outside areas under strict lockdown, while Beijing pressed on with testing millions of people on a May Day holiday few were celebrating. (Image: Reuters) Shanghai is tightening its already strict COVID-19 lockdown in a fresh push to eliminate infections outside quarantined areas of China's biggest city by late this month, people familiar with the matter said. Curbs will likely vary across the city's 16 districts as some have already hit the target, but the people said movement curbs will generally remain until the end of May due to fears of a rebound, despite recently falling case numbers in the country's worst coronavirus outbreak. Accounts from residents in several districts as well as social media posts showed the government of the city of 25 million accelerating and expanding an effort to transfer the close contacts of positive cases to central quarantines … [Read more...] about Shanghai tightens lockdown to hit zero-COVID goal by late May: Report

Indian markets remained bearish for the the second consecutive week ended May 13 as the benchmark share indices lost nearly 4 percent. Persistent worries over rising inflation, possibility of further rate hikes by global central bank, China lockdown and weakening rupee kept the investors on the edge. During the last week, BSE Sensex declined 2,041.96 points (3.72 percent) to close at 52,793.62, while the Nifty50 shed 629.05 points (3.83 percent) to end at 15,782.20 levels. However, in the month of May Sensex and Nifty have lost more than 7 percent each. During the week gone by, all the sectoral indices were in the red with BSE Metal and Power indices falling 13 percent each. BSE Telecom index shed 6.7 percent and Realty index declined 5.8 percent. In broader market, the BSE Mid-cap index lost 5.6 percent, Small-cap index shed 6.5 percent and Large-cap Index declined 4.4 percent. In absence of any major event, market participants will be closely eyeing the performance of … [Read more...] about Dalal Street Week Ahead | LIC listing, earnings among 10 key factors that will keep traders busy