Debt mutualisation is a politically complex and sensitive topic. Advocates argue that it lowers debt service costs and could enhance incentives for compliance with fiscal rules. Opponents say that it would lead countries to abandon any remaining fiscal restraint and is a political non-starter as one country must pay for the past deficits of another. […]
Structural transformation in the past three decades has been driven by a fast-growing services sector, which has outpaced the manufacturing sector in many developing economies. This column summarises the key messages from a workshop organised by the World Bank that showcased recent evidence on how the services sector will be increasingly central to productive structural […]
Alphabet Inc’s Google suspended the Play version of PDD Holdings Inc’s Pinduoduo app for security concerns, after malware issues were found on versions of the Chinese e-commerce app outside Google’s app store, a company spokesperson said on Tuesday. “Off-Play versions of this app that have been found to contain malware have been enforced on via Google Play […]
A Texas official on Monday added HSBC Holdings to an energy sanctions list, widening a crackdown on companies which in the state’s view are too focused on energy transition. Republican-led U.S. states have alleged companies are prioritizing environmental, social and governance policies (ESG) over their financial responsibilities to their shareholders. The move could prohibit Texas’ governmental […]
Manufacturers and operators of electric vehicle chargers in the United States are bracing for a slowdown in production and deployment as they scramble to comply with “Made in America” terms of a $7.5 billion federal program meant to accelerate the industry. Long-awaited rules laid out by the White House last month are part of President Joe […]
Days before a hastily convened press conference late on Sunday that would make the world’s front pages, Switzerland’s political elite were secretly preparing a move that would jolt the globe. While the nation’s central bank and financial regulator publicly declared that Credit Suisse was sound, behind closed doors the race was on to rescue the […]
– Taurean Prince outdueled Julius Randle in a battle of performances that flirted with history Monday night, hitting all eight of his 3-point shots and scoring the insurance basket with 10.4 seconds remaining as the visiting Minnesota Timberwolves edged the New York Knicks 140-134. Prince racked up 35 points and finished one 3-pointer shy of […]
Paris 2024 Olympic torchbearers may not all get to keep their torches as a cherished memento of the Games because organisers plan to cut down on the number made in the name of sustainability, a source told Reuters. It is still unclear how many torches, which usually burn a mixture of gases, will be produced […]
The U.S. Commerce Department on Tuesday released proposed rules to prevent $52 billion in semiconductor manufacturing and research funding from being used by China and other countries deemed of concern. The proposal limits recipients of U.S. funding from investing in the expansion of semiconductor manufacturing in foreign countries of concern such as China and Russia, […]
Almost three years after the onset of the COVID-19 pandemic, the recovery has not been full or homogenous for all countries and segments of the population in Latin America and the Caribbean (LAC). Moreover, some of its effects, such as the impacts on the human capital accumulation of children, will only fully unfold in the […]
