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Archive

World

Monday, January 25, 2021

Yellen set for Senate confirmation vote as first woman Treasury secretary
USA

Yellen set for Senate confirmation vote as first woman Treasury secretary

  • Yellen on Friday sailed through with a unanimous approval vote in the Senate Finance Committee, indicating that she has enough votes to easily win confirmation.
  • A confirmation for former Federal Reserve Chair Yellen less than a week after Biden took office is quick by recent standards.
Published 25 Jan, 2021 09:25pm
New Saudi central bank chief may face monetary strains in investment push
Financial

New Saudi central bank chief may face monetary strains in investment push

  • Saudi Arabia, which posted a fiscal deficit of 12% of GDP last year, plans to nearly balance its budget by 2023.
  • I think there will be more pressure on the monetary side to help revive economic activity and a greater focus on supporting the Public Investment Fund's growth objectives, including on the funding side.
Published 25 Jan, 2021 08:46pm
China's Xi calls for greater role for G20 in economic governance
South Asia

China's Xi calls for greater role for G20 in economic governance

  • Xi, making his first appearance at the forum since his vigorous defence of free trade and globalisation in an address in Davos in 2017.
  • We should build an open world economy ... discard discriminatory and exclusionary standards, rules and systems, and take down barriers to trade, investment and technological exchanges.
Published 25 Jan, 2021 08:29pm
Canada December unemployment rate revised to 8.8pc
USA

Canada December unemployment rate revised to 8.8pc

  • The revision, undertaken to ensure the data was aligned with recent population and geographical boundary estimates, had "virtually no effect" on employment estimates for the pandemic period of March to December 2020.
Published 25 Jan, 2021 08:22pm
US ‘proud to be back’ in climate fight, Kerry tells leaders
USA

US ‘proud to be back’ in climate fight, Kerry tells leaders

  • We're proud to be back. We come back with humility for the absence over the last four years and we will do everything in our power to make up for it.
  • Since I'm the first to take the floor after John Kerry, a warm welcome to the US back in the Paris Agreement," said IMF MD Kristalina Georgieva.
Published 25 Jan, 2021 08:14pm
US blocks Hong Kong's escalation of WTO trade dispute
USA

US blocks Hong Kong's escalation of WTO trade dispute

  • Washington can only block it once and Hong Kong, a member in its own right at the 164-member body, can raise it again at the WTO next month.
  • The closed-door meeting of the WTO's dispute settlement body on Monday was Washington's first chance to weigh in on long-standing active trade disputes.
Published 25 Jan, 2021 08:12pm
Fragile recovery seen in global labour market after huge 2020 losses: ILO
Europe

Fragile recovery seen in global labour market after huge 2020 losses: ILO

  • The losses compared with the previous year were equivalent to 255 million full-time jobs and included an "unprecedented" 114 million workers joining the ranks of the unemployed.
  • I am pleased to say that there is some relatively good news in all of this, that we do see tentative signs of recovery - these signs are fragile, they are uncertain and the prospects are notably uneven.
Published 25 Jan, 2021 06:59pm
‘Lockdown fatigue’ cited as UK shopper numbers rose 9pc last week
Europe

‘Lockdown fatigue’ cited as UK shopper numbers rose 9pc last week

  • Footfall across all retail destinations was 65% lower than in the same week last year, Springboard said.
  • Springboard said that in the week to Jan. 23 footfall was up 10.9% in UK high streets, 9.2% in shopping centres and 4.5% in retail parks compared to the previous week.
Published 25 Jan, 2021 06:57pm
Dutch PM condemns lockdown riots as ‘criminal violence’
Europe

Dutch PM condemns lockdown riots as ‘criminal violence’

  • The police said hundreds of people had been detained after incidents that began on Saturday evening and lasted until the early hours of Monday.
  • This has nothing to do with protest, this is criminal violence and we will treat it as such.
Published 25 Jan, 2021 06:44pm
No word from pirates who seized sailors off Nigeria, Turkey says
Europe

No word from pirates who seized sailors off Nigeria, Turkey says

  • "We have not yet received word from the pirates," foreign minister Mevlut Cavusoglu told reporters in Ankara.
  • Echoing comments by President Tayyip Erdogan, Turkey's transport minister said the government was working to ensure the swift release of the sailors.
Published 25 Jan, 2021 06:27pm
EU to require advance registration of COVID-19 vaccine exports
Europe

EU to require advance registration of COVID-19 vaccine exports

  • The move comes after AstraZeneca on Friday unexpectedly announced a large cut in supplies of vaccines to the bloc for the first quarter of the year.
  • The executive European Commission would create a transparency register for vaccine exports outside the bloc.
Published 25 Jan, 2021 06:09pm
Moderna says COVID-19 vaccine effective against UK, South Africa variants
World

Moderna says COVID-19 vaccine effective against UK, South Africa variants

  • The company reported findings from a study that used blood samples from eight people, who had two shots of the vaccine, and two monkey and two monkeys that had also been immunised.
  • The results have not been published or peer-reviewed yet, but have been submitted to bioRxiv, which posts preliminary studies online.
Updated 25 Jan, 2021 07:06pm
Rwanda's Kagame backs proposed global social protection fund
Africa

Rwanda's Kagame backs proposed global social protection fund

  • The COVID-19 pandemic has exposed glaring inequalities among the world's workers.
  • "This is a bold idea that merits serious consideration by policymakers," the president said.
  • "It will go to the G20 this year," she said of the proposal, which also aims to help the world's poorest nations start to bridge an $80 billion funding gap for social protections.
Published 25 Jan, 2021 05:43pm
Israel-UAE partnership launches $100 million tech investment fund
Middle East

Israel-UAE partnership launches $100 million tech investment fund

  • Liquidity Capital, an Israeli fund management company has joined with Vault Investment, a Dubai-based company, to launch a $100 million debt investment fund.
  • The Dubai-based fund will target technology startups in the region, especially those looking for alternative sources of funding.
Updated 25 Jan, 2021 01:35pm
South China Sea tension flares again as Biden takes charge
China

South China Sea tension flares again as Biden takes charge

  • A U.S. aircraft carrier group led by the USS Theodore Roosevelt entered the South China Sea over the weekend to promote “freedom of the seas” at a time of U.S. concern about China-Taiwan tensions and Beijing asserting its maritime agenda.
  • Taiwan, meanwhile, reported an incursion of Chinese bombers and fighter jets into its air defence identification zone.
Published 25 Jan, 2021 12:46pm