A New York man with Ghanaian connections who engineered a trade-based money laundering (TBML) scheme to transfer illicit gains from online scams has been sentenced to 14 months in prison and ordered to pay $532,738 in restitution to 11 victims.
On Tuesday, the International Monetary Fund (IMF) unveiled its most recent World Economic Outlook, adjusting its US growth forecast upwards while anticipating a slower rate of expansion for the euro… read more →
The US trade deficit contracted to $58.3 billion in August, marking its lowest level since late 2020, according to data released by the Commerce Department on Thursday. This represents a… read more →
The United States Federal Open Market Committee unanimously agreed to maintain the current interest rates, concluding their latest monetary policy meeting today. This decision was fully in line with market… read more →
The United States, Saudi Arabia, India, and additional countries are in discussions about a potential infrastructure agreement that could reshape trade relations between the Gulf and South Asia. The proposal… read more →
Today, the OECD released their International Trade Statistics report for Q2 2023. The report offers an insight into the global trade landscape, highlighting significant shifts and trends. With a decline in G20 merchandise trade and a marked slowdown in services trade, the report paints a complex picture of international commerce.
A worldwide shortfall in curbing carbon emissions could result in increased debt-servicing costs for 59 countries over the forthcoming decade, as per a study simulating the economic repercussions of climate… read more →
Yellow Corp, an American haulage firm with nearly a century of history, filed for Chapter 11 bankruptcy protection this Sunday. This action came as a result of considerable debt accrued… read more →
Late Tuesday afternoon, Fitch downgraded the United States’ credit rating from AAA to AA+, to the surprise of many experts. This downgrading is the latest domino to fall in what has been a drama filled 2023 for the United States and its divided government.
Globalisation is not dead, contrary to recent claims. Nowhere is this more evident than in global trade, where high-growth trade corridors in Asia, Africa and the Middle East are set to outpace the global average by up to four percentage points.
