New York, May 1, 2023 – The U.S. banking crisis that began in March 2023 was the result of a number of factors, including:
The collapse of Silicon Valley Bank: Silicon Valley Bank was a large regional bank that specialized in lending to technology companies. The bank’s collapse in March 2023 was a major blow to the banking industry and shook confidence in the financial system.
27 April 2023 /Economy/ — The book “China in Africa, the Zambia Story” by Ambassador Anthony Mukwita tells the story of the relationship between China and Zambia. The book begins with a brief history of Zambia, followed by a discussion of China’s economic and political interests in Africa. Mukwita then goes on to describe the various ways in which China has interacted with Zambia, including through trade, investment, and aid. He also discusses the impact of China’s presence in Zambia on the country’s economy, politics, and society.
Here are some of the key takeaways from the book: Continue reading
April 17, 2023 /Economy/ — Purchasing-power parity (PPP) is a measure of the value of different currencies, taking into account the cost of living in different countries. It is often used to compare the standard of living in different countries.
Exchange rates, on the other hand, are the prices of one currency in terms of another. They are determined by supply and demand in the foreign exchange market.
There are a few reasons why PPP is a better metric for comparing people’s well-being than exchange rates. Continue reading
April 17, 2023 /Economy/ — The future of the dollar as the world’s reserve currency is uncertain. The dollar has been the world’s reserve currency for over 70 years, but there is a growing trend of countries using other currencies for oil deals. This trend is being driven by a number of factors, including the rise of China and other emerging economies, the increasing volatility of the dollar, and the desire of some countries to reduce their reliance on the United States.
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April 16, 2023 /Finance/ — If Zambia’s debt restructuring proposal is successful, it will help to improve the country’s economic outlook and create a more stable environment for businesses and investors. This will ultimately benefit the Zambian people by creating jobs, improving infrastructure, and providing access to basic services.
It is important to note that there are a number of risks associated with Zambia’s debt restructuring proposal. If the proposal is not successful, it could lead to a further deterioration in Zambia’s economy and could potentially lead to a default on Zambia’s debt.
Zambia sent a debt restructuring proposal to bondholders on April 14, 2023. The proposal includes the following key points: Continue reading
Jose Caballero, International Institute for Management Development (IMD)
After over a year of the Ukraine war, efforts at building a global consensus against Russia seem to have stalled, with many countries opting for neutrality.
The number of countries condemning Russia has declined, according to some sources. Botswana has edged towards Russia from its original pro-Ukraine stance, South Africa is moving from neutral to Russia-leaning and Colombia from condemning Russia to a neutral stance. At the same time, a large number of countries have been reluctant to support Ukraine.
State House
Lusaka, Zambia
3:37 P.M. CAT
ZAMBIAN OFFICIAL: Mr. Hakainde Hichilema, President of the Republic of Zambia; Honorable Madam Kamala Harris, Vice President of the United States of America; cabinet ministers present from both countries; members of the press; distinguished invited guests; ladies and gentlemen: Welcome to the press conference being held here at State House this afternoon.
And to begin the process, I now have the singular honor and privilege to call upon the President of the Republic of Zambia to deliver his remarks.
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NEW YORK & BOTHELL, Wash.–(BUSINESS WIRE)–Pfizer Inc. (NYSE: PFE) and Seagen Inc. (Nasdaq: SGEN) today announced that they have entered into a definitive merger agreement under which Pfizer will acquire Seagen, a global biotechnology company that discovers, develops and commercializes transformative cancer medicines, for $229 in cash per Seagen share for a total enterprise value of $43 billion. The Boards of Directors of both companies have unanimously approved the transaction. Continue reading
By Kim Harrisberg | South Africa correspondent
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From phishing traps to arrests based on their social media posts alone, activists from Russia to Uganda say they’re increasingly being watched for their online campaigning. |
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Artificial intelligence (AI) technology is everywhere. Thanks to a lack of red tape, it’s transforming our homes, economies and cultures – from ChatGPT and virtual DJs, to facial recognition and predictive policing tools. However, the rise of AI has also come at a significant cost. As we’ve discussed in recent weeks, AI often undermines our privacy, entrenches societal biases, and creates opaque systems that lack accountability. |