The News Famous chef and humanitarian José Andrés on Tuesday floated the idea that world leaders should redirect 3 percent of their defense spending toward combating hunger. Speaking at Semafor World Economy in Washington, DC, Andrés said investing in food security is a matter of national security, and that each ...
Category: Semafor
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Energy CEOs are changing their risk calculusEnergy CEOs are changing their risk calculus
Tim’s view Leading CEOs and officials spent the opening day of Semafor World Economy grappling with how to hardwire more resilience into the global energy system at a moment of unprecedented risk. There are a lot of chokepoints in the energy market these days, from trade routes under threat of ...
Dubai domestic spending nearly recovered to prewar levels, economic chief saysDubai domestic spending nearly recovered to prewar levels, economic chief says
The News The majority of people have remained in Dubai despite heavy bombardment from Iran amid the ongoing US-Israel war, and domestic spending has nearly recovered, according to the CEO of the Dubai Economic Development Corporation. While an unsurprising statement from the man charged with attracting investment to the UAE’s ...
World Bank takes on energy inflation at spring meetingsWorld Bank takes on energy inflation at spring meetings
The economic fallout from the energy crisis unleashed by the war in Iran and questions of how to bolster energy security are dominating discussions at the World Bank and IMF spring meetings in Washington this week. For low-income countries in sub-Saharan Africa and South Asia, higher import bills for fuel, ...
US-EU relations will remain strong despite Iran war, Greek finance chief saysUS-EU relations will remain strong despite Iran war, Greek finance chief says
The News The US failure to consult European allies on its decision to attack Iran won’t break the strong bonds between the longtime partners, Greek Finance Minister Kyriakos Pierrakakis said at Semafor World Economy in Washington, DC, on Tuesday. “There can be turbulence in that relationship, there are disagreements in ...
Prolonged Iran war reduces chance of rate cut, Chicago Fed president saysProlonged Iran war reduces chance of rate cut, Chicago Fed president says
The News A prolonged conflict in the Middle East would reduce the chances of a US interest rate cut this year, Austan Goolsbee, president of the Chicago Fed, told Semafor World Economy on Tuesday. Goolsbee said he was concerned that the potential inflationary impact of the energy-price shock caused by ...
Nigeria seeks IMF, Bank support as war impacts biteNigeria seeks IMF, Bank support as war impacts bite
Nigeria said it would ask the IMF and the World Bank for support, as the effects of the Iran war deepen in Africa’s most populous nation. Nigeria had been on a winning streak before the conflict: It halved annual inflation from a peak of almost 30% while maintaining sturdy economic ...
Cuba says it is open to US oil investmentCuba says it is open to US oil investment
Cuba’s president said he was open to US investment in his country’s oil industry, though he reiterated he would not step down despite Washington’s threats to oust Havana’s communist leadership. Economic conditions in the island nation have deteriorated rapidly since the Trump administration tightened its oil embargo, sparking nationwide blackouts ...
Iran, US could meet for talks again this weekIran, US could meet for talks again this week
US and Iranian negotiators could reportedly meet again for talks this week, as a US blockade threatened confrontation in the Strait of Hormuz. Tehran warned that it would strike ports across the Gulf in retaliation for the US embargo on maritime traffic to and from Iranian ports. But the clock ...
Xi Jinping warns of global ‘disarray’ over warXi Jinping warns of global ‘disarray’ over war
Chinese leader Xi Jinping said the global order was “crumbling into disarray” as the Iran war takes a toll on the world’s second-largest economy. Xi had so far largely refrained from commenting directly on the conflict, wary of harming ties with Washington ahead of a high-stakes summit with US President ...