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What is the Red Sea crisis – and what does it mean for global trade?

The world’s largest shipping firms are continuing to pause shipments through the Red Sea after attacks by Houthi rebels in the crucial international trade route. With container ships being diverted around the Cape of Good Hope on the southern tip of Africa – adding thousands of miles to journeys – the disruption is driving up the cost of shipments from Asia to Europe, raising the prospect of a renewed inflation shock for the world economy. What is happening in the Red Sea? Iran-backed Houthi rebels in Yemen have significantly stepped up a campaign of attacks against commercial vessels in the Bab-el-Mandeb strait between the Arabian…

Argentina’s New President Is Looking To Shake Up Its Oil Industry

When Argentine libertarian Javier Milei made his debut into politics in 2020 with a mission to"blow up" the system, few predicted that he would have a chance to do the shake-up from the highest office in the land and, not certainly, just three years later. However, that’s exactly what the economist and former TV pundit is now doing. Last week, Milei sent a wide-ranging omnibus reform package to congress, part of his shock therapy approach he has adopted to transform Argentina’s economic policy into myriad aspects of government. Through the omnibus legislation, Milei is seeking to enforce shock economic policies, such as lifting…

How central banks saved the world. And will again

To hear it from bulls, the newborn year already belongs to central banks. Reviled not long ago for letting prices surge, Federal Reserve Chair Jerome Powell and his peers have been anointed by traders as saviours of the world. Those clapping the loudest probably don’t know how right they are. The widely predicted global recession has yet to occur, inflation is coming down quickly, and interest rate cuts are projected. As welcome as this development is, don’t imagine for a second that the lords of finance are going into repose. It’s never mission accomplished. Central banks will occupy an ever-more important position in the economic…

How central banks saved the world. And will again

To hear it from bulls, the newborn year already belongs to central banks. Reviled not long ago for letting prices surge, Federal Reserve Chair Jerome Powell and his peers have been anointed by traders as saviours of the world. Those clapping the loudest probably don’t know how right they are. The widely predicted global recession has yet to occur, inflation is coming down quickly, and interest rate cuts are projected. As welcome as this development is, don’t imagine for a second that the lords of finance are going into repose. It’s never mission accomplished. Central banks will occupy an ever-more important position in the economic…

How central banks saved the world. And will again

To hear it from bulls, the newborn year already belongs to central banks. Reviled not long ago for letting prices surge, Federal Reserve Chair Jerome Powell and his peers have been anointed by traders as saviours of the world. Those clapping the loudest probably don’t know how right they are. The widely predicted global recession has yet to occur, inflation is coming down quickly, and interest rate cuts are projected. As welcome as this development is, don’t imagine for a second that the lords of finance are going into repose. It’s never mission accomplished. Central banks will occupy an ever-more important position in the economic…