Trump signs AI orders to boost U.S. global tech dominance
Donald Trump has unveiled a sweeping national AI strategy on Wednesday, signing three executive orders aimed at securing U.S. dominance in the global ...
IMF and World Bank meetings in Washington left global finance leaders with more questions than answers on the economic impact of U.S. tariffs. Discussions on trade and debt concerns highlighted growing uncertainty, as markets worry about the broader economic fallout.
During the IMF and World Bank Spring Meetings in Washington, global finance leaders sought clarity on the economic impacts of President Trump's tariffs, but left with more questions than answers. Many officials tried to meet with U.S. Treasury Secretary Scott Bessent, but were told to be patient, as the Trump administration remained uncertain on its trade demands. Despite receiving 18 proposals and engaging in discussions, no deals were finalized.
Participants, including Polish Finance Minister Andrzej Domanski, warned that the tariffs, especially on vehicles, steel, and aluminum would harm global economies, but the U.S. remained confident it was a short-term pain for long-term gain. Meanwhile, trade talks with Japan and South Korea yielded little resolution, with future discussions likely addressing currency policies.
The IMF lowered growth forecasts for most countries but did not predict recessions. IMF Managing Director Kristalina Georgieva expressed hope that trade negotiations would reduce the uncertainty hurting global business. However, several officials privately raised concerns about rising debt and the risk of a new debt crisis.
The IMF and World Bank also faced criticism for their lack of focus on development issues, with many emerging markets struggling due to the slowdown in trade and foreign investment caused by tariffs. World Bank economist Indermit Gill highlighted rising debt in developing nations.
While the U.S. supported the IMF and World Bank, there were concerns about the institutions' expansion into non-economic areas like climate change and gender equality. U.S. officials, including Bessent, emphasized the importance of refocusing the organizations on economic stability.
The week ended with financial markets and policymakers worried about the broader economic consequences, including a decline in trust in U.S. economic leadership, particularly after the recent selloff in U.S. Treasury debt and dollar-based assets.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
Inflation is when prices rise, reducing the purchasing power of your money. When it happens slowly, it’s manageable. But when it surges, it can disrupt savings, wages, business planning, and economic growth. That’s when central banks step in.
Spy cockroaches, tank-like AI robots, and battlefield drones are at the heart of Germany’s ambitious plan to reinvent warfare, as Europe ramps up defence spending in response to Russia’s invasion of Ukraine.
The announcement triggered a sharp rally in Japanese equity markets. Shares in major automakers surged: Toyota rose over 14%, Honda gained 11%, while Mazda and Subaru both advanced more than 17%. Japan’s Topix index closed up 3.2%. The yen weakened slightly, trading at ¥146.8 against the dollar.
Türkiye has secured €2.4 billion ($2.8 billion) in green financing for a railway project aimed at establishing a direct rail connection to Azerbaijan's Nakhchivan exclave.
UK has announced fresh sanctions to crack down Russia's so-called "shadow fleet", targeting 135 oil tankers along with two Russian firms, shipping company Intershipping Services LLC and oil trader Litasco Middle East DMCC.
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