European Union

New World Order? Pandemic, War Test Globalisation

Globalisation, which has both fans and detractors alike, is being tested like never before after the one-two punch of COVID and war.The pandemic had already raised questions about the world's reliance on an economic model that has broken trade barriers, but made countries heavily reliant on each other as production was delocalised over the decades.Companies have been struggling to cope with major bottlenecks in the global supply chain.Russia's war in Ukraine has raised fears about f

28 March 2022
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War in Ukraine: Latest Developments

Here are the latest developments in the war in Ukraine:Ukraine Calls On China To Condemn 'Russian Barbarism'Ukraine calls on China to join the West in condemning "Russian barbarism", after the United States (US) warned Beijing of consequences if it backed Moscow's attack on the country."China can be the global security system's important element if it makes a right decision to support the civilised countries' coalition and condemn Russian barbarism,&quo

20 March 2022
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COVID Vaccines IP Compromise Reached: WTO

The World Trade Organization (WTO) chief hailed Wednesday a breakthrough between the European Union (EU), the United States (US), India and South Africa on waiving intellectual property rights on COVID-19 vaccines.Ngozi Okonjo-Iweala said the compromise was a big step forward in a bid to end the logjam at the global trade body.However, she cautioned that some of the details on waiving WTO rules on Trade-Related Aspects of Intellectual Property Rights (TRIPS) still needed to be fleshed out – a

17 March 2022
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War, Inflation Threaten World Economy

The world economy's fragile recovery from the COVID-induced crisis is now threatened by Russia's war in Ukraine and soaring commodity prices.Here are four questions regarding the risks to global gross domestic product (GDP):Will Growth Stall? "The war happened right at a time when Europe and the United States (US) had a recovery that was going really well. Projections in Europe were among the highest ...

13 March 2022
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Sanctions Will Disrupt Food, Energy Markets: Putin

Russian President Vladimir Putin warned Thursday that Western penalties against Moscow for its military incursion in Ukraine would destabilise the global energy and food markets and vowed the country would emerge stronger from the crisis.Putin's "special military operation" in Ukraine that began on 24 February has triggered unprecedented Western sanctions and sparked an exodus of international corporations from Russia.Putin on Thursday however downplayed the massive sanctions,

11 March 2022
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Fortress Russia Crumbles

In the space of a single day, 28 February, Vladimir Putin’s “Fortress Russia” collapsed. The rouble plunged by about 30 percent, and Russian authorities closed all financial markets. Russians raced to ATM machines to withdraw as much money as they could, desperate to exchange it for anything that wasn’t the rouble.

10 March 2022
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More Than 1.5M People Flee Ukraine War

More than 1.5 million people have fled Ukraine since the start of the Russian invasion, according to the latest UN data on Sunday.1,534,792The United Nations High Commissioner for Refugees (UNHCR) had recorded 1,534,792 refugees on its dedicated website by 1335 GMT, almost 166,000 more than the previous count on Saturday.Authorities and the UN expect the flow to intensify as the Russian army continues to advance into Ukraine, particularly as it approaches the capital, Kyiv."More than 1.5

7 March 2022
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Boycott Russian Energy Now

Blocking the Russian central bank’s foreign-exchange reserves was a brilliant move. Disconnecting some Russian banks from the SWIFT financial messaging system was helpful. And pursuing the offshore wealth of Putin’s cronies is appropriate. But none of these sanctions have stopped the Russian invasion of Ukraine for one reason, and none of them will.The reason is simple: Russia continues to export oil and gas.

6 March 2022
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Russians Attack Nuclear Plant In Ukraine

Ukraine accused the Kremlin of "nuclear terror" and the West expressed fury on Friday after Europe's largest atomic power plant was attacked and seized by invading Russian forces, which continued to shell major cities.Fighting and a fire at the Zaporizhzhia plant triggered an emergency United Nations (UN) Security Council meeting, after which President Vladimir Putin said Moscow was ready for talks – if all Russia's demands were first met.The six reactors at Zaporizhzhia,

5 March 2022
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Putin's War Has Created A “Geopolitical Europe”

Some weeks can feel like decades, and this week has been one of them. With Russia’s naked act of aggression against Ukraine, the tragedy of war has erupted in Europe once again. Russian forces have shelled residential housing, schools, hospitals, and other civilian infrastructure. The Kremlin’s propaganda machine has been pushed into overdrive in its effort to justify the unjustifiable.

4 March 2022
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UN General Assembly Demands Russia Exit Ukraine

The United Nations (UN) General Assembly on Wednesday overwhelmingly adopted a resolution that "demands" Russia "immediately" withdraw from Ukraine, in a powerful rebuke of Moscow's invasion by a vast majority of the world's nations.After more than two days of extraordinary debate, which saw the Ukrainian ambassador accuse Russia of genocide, 141 out of 193 UN member states voted for the non-binding resolution.China was among the 35 countries which abstained, whi

3 March 2022
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