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Elon Musk Suggests Payment By X Platform Users To Curb Bots

Elon Musk has suggested that all users of social media platform X could be required to pay to use the service in an effort to stop bots on the site. Speaking during a live-streamed conversation on artificial intelligence (AI) with Israeli Prime Minister Benjamin Netanyahu on Monday, the billionaire said the company is “moving towards […]

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FEMA Slashes NFIP Reinsurance Programme Placement By Over 50%

The U.S. Federal Emergency Management Agency (FEMA) has completed its 2023 traditional reinsurance placement for the National Flood Insurance Programme (NFIP), transferring an additional $502.5 million of flood risk to the private reinsurance market for a total premium of $90.2 million. A news report from Reinsurance News, an industry-focused on line medium, on Wednesday indicated […]

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Rishi Sunak Emerges UK’s Prime Minister

Former Chancellor of the Exchequer, Rishi Sunak, has emerged the UK’s next prime minister after Penny Mordaunt dropped out of the Tory leadership race in the final minutes before nominations close. According to the BBC, this announcement was made Monday afternoon after it emerged that ex-PM Boris Johnson pulled out of the race to seek […]

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Togolese, Houngbo, Elected New ILO Director General

The International Labour Organization’s (ILO) has announced a Togolese, Gilbert Houngbo, the current President of the International Fund for Agricultural Development (IFAD), as its next Director-General. Houngbo was elected by the ILO’s Governing Body, comprising representatives of governments, workers and employers, during their meeting in Geneva. He will be the 11th Director-General of the ILO, […]

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Russia Enacts Law To Nationalize Stranded Jets After Sanctions

The Russian government has enacted a law to deal with the issue of the over 500 government-owned and private aircraft stranded within the country as the country’s ongoing war with Ukraine rages. Analysts believe that the new legislation is Kremlin’s open rebuttal to sanctions imposed on it by several countries, especially the EU nations, following […]

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OPEC Increases Nigeria’s Daily Oil Production To 1.718Mn Barrels

The Organisation of Petroleum Exporting Countries (OPEC) has approved 1,718,000 barrels per day (bpd) quota for Nigeria. Also, the oil cartel revised Angola’s daily production to 1,435,000 bpd while Saudi Arabia and Russia topped the list with 10.331 million bpd quota. The oil cartel’s latest quota adjustments showed that oil producing countries’ production had been […]

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U.S Economy Nearly Ready For Less Stimulus – Clarida

The United States Federal Reserve Vice Chair, Richard Clarida, has indicated that the nation’s economy is nearly ready for the central bank to pull back on its stimulus even he projected that the high inflation may soon begin to subside. The Fed had last month signaled it would “soon” be ready to begin the process […]

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Economists Foresee Global Financial Crisis If US Defaults On Debt

White House economists have sternly warned of a potential global financial crisis if U.S. Congress fails to raise the federal government’s debt limit before the country is expected to default on the national debt. Speaking on the implications of default by the President Biden-led administration on the country’s debt obligations, Cecilia Rouse, leading other economists […]

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Malaysia Mulls Raising Debt Ceiling To 65% Of GDP

The Malaysian Government has initiated legislative moves to jack up the country’s public debt ceiling from the current 60 to 65 percent of GDP. To achieve this fiscal objective, the country’s Ministry of Finance on Wednesday submitted the Bill of Interim Financial Measures, which proposed to raise the public debt ceiling from the current 60 […]