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OECD warned. Moreover, the OECD said the risks to the forecast are tilted downwards amid heightened geopolitical tensions, an uncertain outlook for trade, and the risk that tight monetary policy could hurt firms, consumer spending and employment more than expected. “Inflation is easing, but growth is slowing,” OECD Chief Economist Clare Lombardelli said in a statement. “We are projecting a soft landing for advanced economies, but this is far from guaranteed.” The gloomy perspective points to a long hangover from the global inflation crisis that followed the Covid pandemic and a surge in energy prices after Russia’s invasion of Ukraine.

Asia and Russian leadership and erstwhile Soviet leadership have long sought to play a greater role in the Asia-Pacific (or what India terms as the Indo-Pacific region). This role is gaining further momentum following rupture in ties with the West in the aftermath of the Ukraine conflict.

climate change at COP28 in Dubai, which would be the biggest UN climate meet yet. Host, the UAE, said the goal is to restrict temperature rise to 1.5°C from pre-industrial levels by closing the gap between ambition and action.

COP 28 stands for the 28th meeting of the Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC). It takes place every year, and is the world’s only multilateral decision-making forum on climate change with almost complete membership of every country in the world. This year's COP holds significance in the wake of geopolitical risks that have come to forth after the Israel-Hamas war and Russia's ongoing "special military operation" in Ukraine.

The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates

Quiver Quantitative — The Organization of the Petroleum Exporting Countries (OPEC+) and its allies, led by Russia, are deliberating new oil production cuts, potentially reducing output by as much as 1 million barrels a day. This significant proposal comes amidst the ongoing Middle East conflict and could lead to a surge in oil prices. Initially scheduled for last week, the OPEC meeting was postponed due to disagreements over production quotas and is now set to occur virtually. While a consensus on further cuts remains uncertain, with some members opposing the reduction, Saudi Arabia has expressed strong support for the measure.

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State Antony Blinken said on Wednesday that there was «no sense of fatigue» among NATO allies when it came to helping Ukraine. «We must and we will continue to support Ukraine,» he said after a NATO-Ukraine meeting in Brussels, adding that NATO allies were unanimous on this position and that he was also hearing continued support for Ukraine in both chambers of the U.S. Congress. Kyiv has been concerned that the Israel-Hamas war could divert international attention away from its efforts to defeat Russia, which invaded Ukraine in February 2022. Foreign Minister Dmytro Kuleba urged the West earlier on Wednesday to ramp up arms production. The European Union has delivered about 300,000 of its promised 1 million artillery shells to Ukraine so far, he said. «We need to create a Euro-Atlantic common area of defence industries,» Kuleba said before meeting the NATO foreign ministers, adding this would ensure both Ukraine's security and that of NATO countries themselves. Kyiv has recently engaged in a concerted drive to entice leading global arms manufacturers to set up operations in Ukraine, part of a bid to diversify its reliance on weapons and ammunition given by its allies. «It is important that our solidarity with Ukraine is not only demonstrated in words but also in deeds,» NATO Secretary General Jens Stoltenberg said, urging allies to do more.

Cost of Living LIVE Updates November 29: The cost of living is basically the amount of money one needs to survive in a given place – and one's most essential needs such as food, water, housing, taxes, cost of commute, healthcare, etc. The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket.

Turkish President Recep Tayyip Erdogan will visit Hungary’s capital next month

Russian media say a court in Moscow has extended the detention of Wall Street Journal reporter Evan Gershkovich, arrested on espionage charges, until Jan. 30

Ukrainian lawmakers are set to debate two crypto tax bills, as Kyiv looks to raise money from crypto traders.

By Ju-min Park

By Andreas Rinke and Miranda Murray

Isaac Herzog and his Palestinian counterpart Mahmud Abbas will both address the COP28 UN climate talks in Dubai this week, seven weeks into the Israel and Hamas war, officials said on Tuesday. Herzog and Abbas are both scheduled to make speeches lasting three minutes maximum on Friday. Abbas is expected to be in the room when Herzog is speaking, as he is scheduled to address the room only three speakers later. Abbas, head of the Fatah party that leads the Palestinian Authority in the occupied West Bank, has only met Israeli officials on rare occasions. More than 140 heads of state and government are due to address COP28 on Thursday and Friday, the start of nearly two weeks of talks to address the climate crisis, according to a UN list made available on Tuesday.

Germany is struggling to find a way out of a budget crisis after a court decision struck down billions in funding for clean energy projects and help for people facing high energy bills because of Russia’s war in Ukraine

Russia's interior ministry has added the spokesman of U.S. technology company Meta to a wanted list according to its online database

Increasing numbers of ships are streaming toward Ukraine’s Black Sea ports and heading out loaded with grain, metals and other cargo despite the threat of attack and explosive mines

President Joe Biden has opened the first meeting of his supply chain resilience council by warning companies against price gouging and saying that his administration is working to lower costs for U.S. families

Moscow on Tuesday extended the detention of Wall Street Journal reporter Evan Gershkovich, arrested on espionage charges, until Jan. 30, Russian news agencies reported. The hearing took place behind closed doors because authorities say details of the criminal case against the American journalist are classified. Gershkovich, 32, was detained in March while on a reporting trip to the Russian city of Yekaterinburg, about 2,000 kilometers (1,200 miles) east of Moscow.

AFP looks at 10 standout numbers: The number of people around the world displaced by conflict or humanitarian crises was already at a record high before the Israel-Gaza war began on October 7, adding to the misery. By the end of September, 114 million people had been driven from their homes by wars in Ukraine, Sudan, Myanmar and the Democratic Republic of Congo and a humanitarian crisis in Taliban-run Afghanistan, among other factors, according to UN refugee agency the UNHCR. They have since been joined by at least 1.7 million Gazans. One heat record after another tumbled in 2023, which is on course to be the hottest year on record, according to the European Union's climate monitor Copernicus. The northern hemisphere had its hottest summer ever and temperature records were also smashed in the southern winter, with the Argentinian capital Buenos Aires experiencing its warmest August 1 on record at 30 degrees Celsius. Defending champions South Africa won a nail-biting final 12-11 against New Zealand in the Rugby World Cup, to claim a record fourth title and seal the growing role of rugby — once the sport of the white minority under apartheid — as a unifying force in multiracial South Africa. «People who are not from South Africa don't understand what it means for our country. It is not just about the game.