Islamabad, 25 December 2023: Chairman Competition Commission of Pakistan (CCP) Dr. Kabir Ahmed Sidhu participated in the Global Forum on Competition. It was held by the Organization for Economic Cooperation and Development (OECD) on 7-8 December 2023 in Paris. The Forum brought together heads of competition authorities from over 110 countries worldwide. Chairman Sidhu also … Read more
France & US plan ban on private finance to coal-fired plants at COP28. India was informed of the plan earlier this month. The proposal suggests the OECD set coal-exit standards for private finance firms. France, with U.S. support, plans to propose a halt to private financing for coal-based power plants at the upcoming U.N. climate … Read more
10 pedestrians died in accidents this year, 22% of total municipal deaths. “That’s twice what it was the previous year,” said police. The average Japanese person consumes 8 liters of pure alcohol annually. Due to an uptick in drinkers being killed by cars after passing out on the road, police in Tokyo are advising people … Read more
In 2018, the nation’s rate fell below one kid per woman for the first time. Average number of children per woman in the most developed nations is 1.6. A diminishing youth population causes labour shortages that have an impact on the economy. The highest infertility rate in the world, which was once again achieved by … Read more
An office for coordination was established in Paris and will eventually be relocated to Kyiv “In order to strengthen and expand our policy to support Ukraine, we set up a coordination office at the OECD He asserts that the OECD’s strategy is founded on three key tenets An office for coordination was established in Paris … Read more
The Organisation for Economic Co-operation and Development (OECD) slashed its 2022 growth forecast and projected higher inflation. The Paris-based organisation, which represents 38 most developed countries, is the latest institution to predict lower GDP growth due to the Ukraine conflict. The OECD has cautioned that the world economy will pay a “powerful value” for Russia’s … Read more
Boris Johnson vows to address Britain’s cost-of-living crisis. He is under pressure to move on from a series of scandals, including lockdown-breaching parties. The cost of filling up the average family car surpassed £100 ($125) for the first time. Boris Johnson, Britain’s struggling prime minister, vowed on Thursday to address the country’s cost-of-living crisis, including … Read more
The Dow Jones Industrial Average was down 0.4 percent at 33,040.72. The S&P 500 fell 0.3 percent to 4,147.55. The tech-heavy Nasdaq Composite Index remained unchanged at 12,175.40. Early Wednesday, Wall Street equities mainly declined, continuing the week’s bumpy pattern as markets assess a weaker global growth picture due to inflation fears. As a result … Read more
WASHINGTON: Public debt ratios in Latin America and the Caribbean (LAC) increased by about 10 percentage points of GDP in 2020. With debt service costs rising, countries in the region are under pressure to cut public spending and/or raise taxes, even in the face of widespread needs to respond to the pandemic. Our latest Regional … Read more
The emergence of the Omicron variant has thrown early signs of recovery in the global supply chain into doubt across the world, including in the Middle East and North Africa, Arab News reported. “There may still be swings, but overall, I think the worst is over,” said Esben Poulsson, who chairs the International Chamber of Shipping, on … Read more
BUDAPEST: A global push to enact a minimum international tax on big corporations moved closer to reality on Friday as one of the last holdouts, Hungary, agreed to join a reform that now counts 136 countries. The OECD-brokered deal, which sets a global tax of 15 per cent, is aimed at stopping international corporations from … Read more
PARIS: The OECD warned on Tuesday of an ‘uneven’ global economic recovery, as it lowered its 2021 growth forecasts for the world and the United States, while raising the outlook for Europe. The world economy has bounced back this year on the back of stimulus measures, the rollout of effective Covid vaccines and the resumption of … Read more
The International Energy Agency (IEA) has predicted grim circumstances for the oil market across the world even after the successful trials of the coronavirus vaccine. According to the details, IEA forecasted that the vaccine was unlikely to ride to the rescue of the global oil market for a period of time. This projection came following a … Read more
To recover from the economic shock due to coronavirus pandemic, the world will take many years, said secretary general of Organisation for Economic Co-operation and Development. Angel Gurría OECD secretary general said the economic shock was already bigger than the financial crisis. He told the BBC it was “wishful thinking” to believe that countries would … Read more
Global stocks retreated Thursday on continued doubts about US-China trade talks while the OECD slashed its growth outlook, citing the protracted trade conflict. Investors, already nervous about the slow progress of the talks, became even more cautious after both houses of Congress overwhelmingly approved a bill supporting the pro-democracy movement in Hong Kong and sent … Read more
