Author: ovieoftoronto

Global geopolitical tensions often play a pivotal role in shaping people's perceptions of economic growth. Research shows that concerns about such issues can make people and businesses more cautious about spending and investing, which can ultimately lead to a recession. The same is true of the recent escalation of the Israeli-Palestinian conflict. Investors around the world are concerned about the impact of this war, especially given the already bleak outlook for global economic growth. Hamas' October 7 attack on southern Israel is the latest chapter in a decades-long cycle of violence in the region that sadly seems to have no…

As Israeli forces continue to intensify their cataclysmic assault on the occupied Gaza Strip, Amnesty International has documented unlawful Israeli attacks, including indiscriminate attacks, which caused mass civilian casualties and must be investigated as war crimes. The organization spoke to survivors and eyewitnesses, analysed satellite imagery, and verified photos and videos to investigate air bombardments carried out by Israeli forces between 7 and 12 October, which caused horrific destruction, and in some cases wiped out entire families. Here the organization presents an in-depth analysis of its findings in five of these unlawful attacks. In each of these cases, Israeli attacks…

The 2023 Tsinghua Management Global Forum was held at Tsinghua University on Wednesday. The forum featured a conversation with Michael Spence, professor emeritus of management at Standard University and winner of the 2001 Nobel Prize in Economics, who shared insights on how to rebuild the global economy. Michael Spence, Professor Emeritus of Business Administration at Standard University and winner of the 2001 Nobel Prize in Economics, will deliver the keynote speech at the 2023 Tsinghua Management Global Forum to be held in Beijing on October 18, 2023. [Photo provided to China.org.cn]In his keynote address on the future of the global…

Fri, Oct 20 2023 7:03 PM EDTBiden spoke with two American hostages released todayPresident Joe Biden tweeted a photo of him speaking with the two American hostages who were released on Thursday. “Jill and I will continue holding close in our hearts all the families of unaccounted for Americans,” Biden said on X, formerly Twitter.— Riya BhattacharjeeFri, Oct 20 2023 6:41 PM EDTIsrael ramping up attacks, Gaza ministry saysA Palestinian recites Salah Azan (Adhan) in the rubble of the Al-Amin Muhammad Mosque, hit by Israeli airstrike, in Khan Yunis, Gaza on October 20, 2023. Abed Zagout | Anadolu Agency | Getty ImagesIsrael…

Last updated: October 19, 2023 11:10 EDT | 2 minute read Image by PublicDomainPictures from PixabayGlobal debt rose by $10 trillion in the first half of 2023, according to data released by the Institute of International Finance (IIF) on Tuesday, reigniting concerns about the impact on the global economy and the possibility of a financial crisis. The report revealed that total debt has reached an unprecedented $307 trillion, an increase of $100 trillion over the past decade.Advantage of mature markets in global debt growthThe main drivers of debt growth in the first half of this year were countries such as…

Important points Half of global fund managers surveyed by Bank of America expect the global economy to weaken over the next 12 months, the bank found in its October 2023 Global Fund Manager Survey. . This is a slight decrease from the 53% who responded similarly in September, but this is partly due to the increased impact. An optimistic view of China's economy. As fears of a recession grow, 30% of fund managers now see the global economy in a “hard landing”, up from 21% in September. At the same time, around 80% of fund managers expect inflation to subside…

Insurance giant Lloyds of London has warned that the global economy could suffer losses of $3.5 trillion as a result of a major cyber attack targeting payment systems. The hypothetical scenario modeled by the insurance market alongside the Cambridge Risk Research Center is considered unlikely to materialize. The researchers suggested that the chance of it happening is around 3.3%, which he expanded to a chance of once in 30 years. The UK government also previously conducted an investigation into the possibility of cyber-attacks on the financial system and found that a catastrophic incident was unlikely. In the National Risk Register,…

OTTAWA — Canada’s promised digital services tax targeting the world’s biggest tech and social media giants will bring in double the amount of revenue as previously estimated, according to the Parliamentary Budget Officer. In a report released Tuesday morning, the PBO said the tax would “increase federal government revenues” by $7.2 billion over five years. Previous estimates put that number at $3.4 billion over five years. The U.S. has warned of retaliation if Canada goes ahead with the digital services tax before an OECD deal is in place. But it’s unclear whether that stance will change now that the United…

Police in Belgium on Tuesday shot dead a suspected Tunisian extremist accused of killing two Swedish soccer fans in a brazen shooting on a Brussels street before disappearing into the night. Hours after a manhunt began in the Belgian capital, Interior Minister Annelies Verlinden posted on X, formerly Twitter, that “the perpetrator of the terrorist attack in Brussels has been identified and has died.” She thanked Belgium’s intelligence and security services, as well as the public prosecutor’s office, “for their swift and decisive action last night and this morning.” The man was shot by police in the Schaerbeek neighborhood near…

The International Monetary Fund (IMF) assesses the global economy twice a year. The multilateral financial institution recently released a new edition of its flagship World Economic Outlook. It makes for a sobering read. Forecasts for the five years to 2028 show economic momentum slowing in most countries. India is a rare exception. Roshan Kishore has already written in the Hindustan Times that if the predictions published in the report stand the test of time, India will become the fastest growing large economy in 11 of the 15 years starting in 2014. He points out that it is. The International Monetary…