On Wednesday, the US announced that it plans to transfer billions of dollars in frozen Afghani assets to a fund in Switzerland. This will effectively shelve talks that discusses recapitalizing the central bank despite the Taliban rule. The assets consist of roughly 7 billion USD. The Switzerland bank, the Bank

A court in Shanghai charged a Chinese-Canadian billionaire, Xiao Jianhua, and his company with embezzlement and bribery. His company, Tomorrow Holdings, was fined over $8 billion and Xiao was sentenced to 13 years in prison.  Xiao and Tomorrow Holdings were found guilty of absorbing public deposits, illegal use of funds,

Cuba will allow foreign investors to invest in its wholesale and retail trade for the first time in 60 years. This move overturns a 1960s Fidel Castro policy  of nationalizing retail. Cuba is facing its most severe economic crisis in decades causing rising prices and increasing public discontent.  The change

The economy in the UK may be starting to shrink and a new forecast is suggesting that the average annual energy bills could be as high as the equivalent of $6,000 next year. The country’s GDP dropped by 0.1% in the second quarter of this year and analysts believe the

China may miss its annual economic growth target due to Covid restrictions weigh on the country’s economy. The ruling Communist Party’s top policy making body, the Politburo, announced on Thursday that it aims to keep economic growth in a reasonable range, however, did not mention the official growth target of

The Sri Lankan prime minister’s office has confirmed that Sri Lankan President Gotabaya Rajapaksa will resign. Protests over Sri Lanka’s financial crisis have worsened, with tens of thousands of protestors storming the residences of both Sri Lankan President and prime minister. The parliament Speaker has said Rajapaksa will resign on

Sri Lanka’s fuel stocks only will last for five more days according to its power and energy minister on Thursday. The island nation is waiting for an official confirmation from the Indian government for a $500 million credit line for fuel. The country is in the midst of its worst

For months the OODA C-Suite Report has underscored for our readers to expect a slowdown in the global economy. Many who track the explosion of government spending plus quantitative easing plus low interest rates came to similar conclusions, especially after the Russian attacks on Ukraine and the China Covid shutdowns. But it took evidence of higher than expected inflation before governments began to discuss this potential. Now many institutions and business leaders are openly discussing the potential for recession. World Bank president David Malpass is warning that “for many countries, recession will be hard to avoid.”  Jamie Diamond of JP Morgan has warned not just of potential clouds on the horizon, but an “Economic Hurricane”. Elon Musk put things in a unique way, saying he has a “super bad feeling” about the economy.

Starting Wednesday, Russia has announced that it will halt gas flows to Poland and Bulgaria, marking the first time the country has followed through on a threat to cut off countries that don’t pay for their gas on Russia’s terms. In March, Vladimir Putin outlined new terms of payment that

In March, the German annual producer price inflation topped 30%, reaching the highest level since the Federal Statistics Office began collecting data 73 years ago. Officials announced the milestone on Wednesday, stating that energy prices were likely to blame. Energy prices rose nearly 84% in 2022 from March of last