Latest stories tagged “global economy”
Alan Greenspan, the former chairman of the Federal Reserve and a significant figure in global economic policy, has died at the age of 100. While his name may not be widely recognized among Nigerians, he was influential in the business world as an economist of Jewish descent, shaping economic strategies and policies during his tenure.
A new World Bank assessment indicates that artificial intelligence (AI) has the potential to reshape the global economy and enhance growth, particularly as global markets face challenges such as geopolitical tensions, declining productivity, and a fragile recovery from the pandemic. The report highlights the transformative impact of AI amidst these ongoing economic issues.
The global economy is facing uncertainty as Iran has effectively closed the Strait of Hormuz amid ongoing conflict with Israel and the United States. This strait is crucial for the passage of approximately one-fifth of the world's oil and gas. While some ships have managed to navigate the strait, they have done so under Iran's conditions, reportedly paying tolls for safe passage. The situation remains tense as the world awaits the reopening of this vital waterway.