US sanctions inflicted $1 trillion damage on Iran’s economy: FM

Tehran, Iran – Unilateral sanctions imposed by the United States has inflicted $1 trillion worth of damage on Iran’s economy and Tehran expects compensation, its foreign minister said. Mohammad Javad Zarif said on Sunday after the US takes action to restore Iran’s 2015 nuclear deal with world powers through lifting sanctions, Tehran will want to […]

Soaring high: Bitcoin hits record $53,750, $1 trillion market cap

The world’s top cryptocurrency has surged 60 percent this month alone, fuelled in part by mainstream investors like Tesla. Bitcoin hit yet another record high on Friday, achieving a market capitalisation of $1 trillion and blithely shrugging off analysts’ warnings that it is an “economic sideshow” and a poor hedge against a fall in stock […]

CBO projects $2.3 trillion US deficit before Biden stimulus plan

While it dropped by $900bn, the United States’ budget deficit could still increase if President Joe Biden’s $1.9 trillion stimulus proposal were to pass. The United States Congressional Budget Office says the federal government is on track for a $2.3 trillion deficit this year, down roughly $900bn from last year when the coronavirus pandemic led […]

Live Updates: Biden Sees New Urgency for $1.9 Trillion Stimulus

Here’s what you need to know: Video transcript Back transcript ‘We’re Still in the Teeth of This Pandemic,’ Biden Says President Biden called on Congress to act quickly on his proposed $1.9 trillion coronavirus relief package on Friday, in a speech following a weak jobs report. We’re still the teeth of this pandemic. In fact, […]

Republicans urge Biden to scale down $1.9 trillion COVID relief

Ten Republicans in the United States Senate have offered a counterproposal to President Joe Biden’s $1.9 trillion coronavirus relief bill, saying a scaled-down version of the aid package would garner bipartisan support in Congress. In a letter to Biden on Sunday, the legislators said their version of the bill would include $160bn for COVID-19 vaccines, […]

European Central Bank’s $2.2 trillion stimulus still on track

More than a trillion euros in stimulus is on its way to jolt life into a eurozone battered by the coronavirus crisis. With more than a trillion euros in stimulus still in the pipeline to the economy, the European Central Bank (ECB) left its key bond-purchase programme unchanged Thursday as the 19-country eurozone endures a […]

Can President Xi turn China into a $30 trillion economy by 2035?

China’s economy is expected to grow at its slowest pace since the Mao era, and debt has soared to $43 trillion. . President Xi Jinping hopes to double the size of China’s economy by the middle of the next decade. Meanwhile, after mismanaging the epidemic, the United States may relinquish its title of the world’s […]

Biden to unveil $1.5 trillion stimulus plan for COVID-hit economy

President-elect Joe Biden is set to unveil a plan to pump $1.5 trillion into the pandemic ravaged US economy, with a significant portion expected to be earmarked for minority communities. President-elect Joe Biden will unveil a stimulus package proposal on Thursday designed to jump-start the economy during the coronavirus pandemic with an economic lifeline that could exceed […]

Cryto market value tops $1 trillion as bitcoin hits new record

Bitcoin rallies to yet another record, pushing the total market value of cryptocurrencies past $1 trillion for the first time ever. The total market value of cryptocurrencies surpassed $1 trillion for the first time Thursday amid a frenzied and volatile rally in Bitcoin to yet another record. Cryptocurrencies hit the milestone after a fivefold climb in market […]