Author: Divya Mahendru

Research-Oriented Economics Major | Seeking opportunities in Public Policy, Economics and Finance

Crude oil prices have surged by over $4 due to concerns that the situation in Israel and Gaza could disrupt Middle East oil production. This surge in prices comes in the wake of the most significant attack on Israel in years, as Hamas fighters entered the country via land, sea, and air, launching attacks on Israeli towns. While Israel and Palestinian territories themselves are not major oil producers, the Middle East region is responsible for nearly one-third of the world’s oil supply. This escalation of conflict between Israel and Hamas represents the most significant confrontation between the two sides in…

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The military wing of Hamas has declared the start of “Operation Al-Aqsa Flood,” claiming to have launched over 5,000 missiles against Israel in the opening 20-minute assault. During a significant Jewish holiday, Palestinian Hamas militants launched a surprise attack from the blockaded Gaza Strip into nearby Israeli towns, resulting in numerous casualties and abductions. Israel responded with airstrikes in Gaza, and its prime minister declared the nation to be in a state of war with Hamas, pledging to exact an “unprecedented price.” Israeli Prime Minister Benjamin Netanyahu has made a commitment to retaliate and reduce Hamas strongholds to ruins. Furthermore,…

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The United States eradicated two Russian diplomats in Washington, only weeks after Moscow dismissed two Americans, the latest tit-for-tat expulsions as ties between the two countries deteriorate. The decision came after Russia expelled two US ambassadors over interactions with a former consular employee accused of gathering sensitive information. The United States has denied the charges. Matthew Miller, A State Department spokesperson warned, “The Department will not tolerate the Russian government’s pattern of harassment of our diplomats,” adding that “unacceptable actions against our Embassy personnel in Moscow will have consequences.” The two Russian ambassadors, whose identities remain undisclosed, have been granted…

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On Wednesday, US President Joe Biden unveiled another round of federal student debt forgiveness as borrowers brace for the resumption of payments after a three-year hiatus due to the Covid-19 pandemic. Biden has pledged to explore fresh initiatives aimed at providing student loan relief to Americans, following the Supreme Court’s rejection of his plan to cancel hundreds of billions of dollars in debt. “This kind of relief is life changing for individuals and their families. But it’s good for our economy as a whole as well,” he told reporters. He also assured the student population publicly that his administration is…

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In less than 24 hours after residents in certain areas of Australia’s Victoria state evacuated due to bushfires, state authorities are now issuing warnings about flooding. Heavy rain has extinguished flames and caused rivers to rise in this southeastern state. As night fell on the east coast of Australia, there were 86 fires burning in New South Wales, with 29 of them still uncontained. Over 1,300 firefighters are actively working to gain control over these fires. The Australian Bureau of Meteorology predicts flash flooding in northeastern Victoria throughout Wednesday, especially in areas that were recently ablaze, covering around 17,000 hectares. …

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Japan experienced its hottest September since record-keeping began in 1898, with the country’s meteorological agency reporting a remarkable third consecutive month of record-breaking high temperatures. The average temperature for scorching September was 2.66 degrees Celsius above the norm, according to the country’s Meteorological Agency’s announcement on Monday. Japan’s climatic condition in September- In September, a total of 385 out of 914 locations throughout the country recorded temperatures of 35 degrees Celsius or higher. This represents the second-highest number of such occurrences, trailing behind the 485 instances that were observed in 2020. Furthermore, the surface temperature of the Sea of Japan…

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In spite of initial optimism surrounding the avoidance of a recession in 2023, the much-anticipated “soft landing” scenario has faltered significantly in the US. During the second quarter of the year, there was a prevailing belief that the U.S. economy could successfully evade the crisis. Factors such as a decrease in inflation, a robust job market, and increased consumer spending had instilled confidence in the ability of the world’s largest economy to sidestep a downturn. Nonetheless, underlying threats persisted. Despite the decline in inflation, interest rates had surged to levels not seen in two decades, and certain indicators continued to…

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In Slovakia’s recent parliamentary elections, populist party led by former PM and anti- Ukraine Robert Fico, has gained victory with nearly all votes counted. With results in from more than 98% of the districts, the SMER party is poised to secure approximately 23% of the total votes. Following closely behind, Michal Šimečka’s Progressive Slovakia (PS) has secured over 17%, and Peter Pellegrini’s Hlas party has garnered 15% of the votes. The outcome of these elections is expected to intensify concerns regarding Slovakia’s future foreign policy direction. Robert Fico, aged 59, has pledged to discontinue military support to Ukraine, voiced criticism…

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Following the strain in diplomatic relations between India and Canada, Minister of External Affairs, S Jaishankar addressed a press conference on Friday in Washington. He claimed that the ‘permissiveness’ regarding violence and terrorism is a serious problem for the nation. Among the recent allegations imposed on India, the External Affairs Minister has spoken in favor of the Sikh community and said that the extremist elements do not represent the whole community as a whole. It is just a “small minority”. He also suggested that the government should take unbiased actions and not extend this matter to the whole community. He…

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The climate activist was convicted today in Ho Chin Minh City in a three hour long trial and was fined $4,100. She had been dodging an estimate of $275,000 in taxes related to her environmental campaign group called ‘CHANGE’ as stated by her lawyer, Nguyen Van Tu. “Hong pleaded guilty, and therefore the trial ended quickly,” Mr Tu said. Who is the climate activist, Hoang Thi Minh Hong? This 50 year old leading climate activist is the founder and executive director of ‘CHANGE’ which is an NGO that aims to address the country’s environmental situation and tackles climate change, pollution,…

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