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The Right Side of History: Germany Occupies the Moral High Ground
The latest annual Gallup poll on the standing of nations seems to indicate that President Donald Trump has failed to Make American Great Again. The survey found that Germany remains the world’s most admired country with the US, China, and
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EU Cements Union and Recovery Package
Union leaders have agreed on a landmark €750 billion post-corona EU recovery package that authorises the European Commission to issue bonds for the first time ever. Hailed as a ‘historic day’ for Europe by President Emmanuel Macron of France, the
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Global Markets Stall as Future Remains Uncertain
In this era of big and bigger numbers, the size of the US budget deficit – $864 billion in June – dwarfs all else. In a single month, the US Treasury overspent about the same amount as the entire post-corona
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EU Prime Ministers Beat a Path to The Hague
This month, The Hague has become the destiny of choice for EU prime ministers and presidents embarking on a pilgrimage to placate, woo, mollify or pay homage to Saint Mark – the self-anointed patron of the frugal. In his impressively
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Islamic Development Bank Deploys Sukuk to Counter Corona Impact
Respond, Restore, and Restart. That is how the Islamic Development Bank Group (IsDB) aims to tackle the economic fallout of the corona pandemic. The group has set aside $2.3 billion for its Strategic Preparedness and Response Programme. The funds are
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Saying No to China
What had originally been announced as a series of conferences followed by a high profile summit in Leipzig to seal and celebrate a landmark investment agreement between the European Union and China, was downgraded to an online chat between EU
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South Africa and the Struggle for Reform
Widely considered a bellwether for emerging market sentiment, South Africa’s rand has been on a dizzying rollercoaster ride, seesawing on currency markets as traders try to match fact with perception and decipher the country’s true predicament. On 11 June, the
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Japan Opens the Money Spigot
Once upon a time, Japan was said to pose a menace to the economic hegemony of the industrialised countries of the West. Current US criticism of Chinese trade practices and currency manipulation echo the acerbic disputes between Washington and Tokyo
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Europe: Fig Leaves to Save Spain and Italy
Looking to score without breaking a sweat, European politicians of almost every ideological persuasion often turn on ‘Brussels’, assigning blame to the union for every conceivable domestic ill and castigating it for their own failings. Unable to put up a
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Austerity Arrives in the Kingdom
For the first time in living memory, the Saudi government has embarked on a major austerity drive. In early June, state workers saw their generous cost-of-living allowance abruptly cancelled. Capital expenditure on iconic mega projects has been put on hold
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