global

Gender inequality widening after decade of progress

Geneva - Muslimchronicle

A decade of slow progress towards better parity between the sexes has screeched to a halt, the World Economic Forum (WEF) said Thursday, warning the global gender gap was now widening. In recent years, women have made significant progress towards equality in a number of areas such as education and health, with the Nordic countries leading the fray. But theRead more

Bank of England hikes rates for first time in a decade

London - Muslimchronicle

The Bank of England raised its main interest rate for the first time since 2007, before the global financial crisis, it announced Thursday as it tackles Brexit-fuelled inflation. Policymakers voted 7-2 to tighten borrowing costs to 0.50 percent from a BoE record low of 0.25 percent as a weak pound caused by Brexit uncertainty has hiked the cost of importsRead more

Canada central bank maintains key lending rate at 1%

Ottawa - Muslimchronicle

Canada's central bank maintained its key lending rate at one percent Wednesday, saying it weighed global uncertainties against a stronger economy pushing up inflation. The bank predicted inflation would rise to two percent in the second half of 2018, but also noted a strengthening Canadian dollar and "substantial uncertainty about geopolitical developments and fiscal and trade policies" in its decision.Read more

OPEC chief sees clear signs of oil rebalancing

London - Muslimchronicle

The oil market is rebalancing fast and has almost entirely erased the glut of refined products as OPEC sticks to its supply pact, OPEC’s secretary general said on Monday. OPEC’s Mohammed Barkindo also said growth in US shale oil output had slowed compared to the first half of 2017 and growth in global demand may show further upward revisions, givingRead more

Emirates cabin crew to learn how to spot human traffickers

Dubai - Muslimchronicle

Emirates Airline is to train its frontline staff in how to spot the perpetrators and victims of human trafficking. According to figures published by the National Human Trafficking Hotline there was in excess of 5,000 “potential” human trafficking cases in 2015 and of these, nearly 2,000 involved victims under 18. Now staffs at Emirates Airline – including cabin crew –Read more

World’s biggest slum population poses risk for East Asia — World Bank

Bangkok - Muslimchronicle

East Asia and the Pacific, home to the world’s largest slum population of 250 million people, need to invest more in urban planning to reduce risks like flooding and conflict, the World Bank said on Tuesday. The rapidly urbanizing region is also the most disaster-stricken in the world, it said, with many residents living in poor-quality housing on flood-prone landRead more

WAM adds six languages to its service

Abu Dhabi - Muslimchronicle

The United Emirates News Agency (WAM) has recently announced the upgrading of its news services to cover six key global languages in addition to already existing Arabic and English. The launch of the revised web presence comes as part of efforts to further reinforce the UAE’s positive image and communicate its achievements internationally, while communicating the country’s message of moderationRead more

Threat of financial crisis has not gone away, WEF warns

Dubai - Muslimchronicle

Global economies remain at risk of further financial shocks and are ill-prepared for the coming wave of innovation and automation, according to the World Economic Forum (WEF). The WEF’s global competitiveness report — its annual ranking of the strength of 137 economies around the world — warns that 10 years on from the global financial crisis, “the prospects for aRead more

WTO says global trade to grow 3.6% this year

Geneva - Muslimchronicle

Global trade is rebounding strongly but risks remain, the World Trade Organization said on Thursday, with commerce expected to grow by 3.6 percent in 2017, well above last year’s 1.3 percent. The forecast marks a sharp upward revision of the WTO’s April estimate, when it foresaw growth of 2.4 percent and in a range of 1.8-3.6 percent, due to aRead more

German industrial production picks up in January

Frankfurt am Main - AFP

Industrial production in Germany grew 2.8 percent in January, preliminary data showed Wednesday, comforting fears that global uncertainty could put the brakes on Europe's largest economy. December also saw a smaller fall in production than previously thought, the price-, seasonal- and calendar-adjusted figures from federal statistics authority Destatis showed, at 2.4 percent month-on-month rather than 3.0 percent. "Industrial production madeRead more