Global Economy

Due to China's Zero-Covid policy and country rules, have left hundreds of cargo ships stranded on the ports which impacts freight costs and global inflation. Maersk said it will perceive a rise at an unexpected level. Freight charges increase it could cause a negative impact on economy. Many companies are bearing the brunt of China's stern COVID policies. Global inflation and the closing down of business are looming threats. 

Over half a million undocumented Indian immigrants are the third largest contributor to the US economy with a collective spending power of $15.5 billion, revealed an American think-tank's report. As for the spending power, India ranked second since undocumented Mexicans topped the chart with $82.2 billion. El Salvador ($11.5bn), Guatemala ($9.1bn) and Honduras ($6.4bn) followed India in the chart. The report also stated Indian immigrants… read-more

Maldives has launched a loyalty program, 'Maldives Border Miles', for tourists to rejuvenate tourism sector in the country. The program has three tiers - Gold, Silver and Bronze - and will assess tourists based on their number of visits and duration of stays. Reportedly, visits during special occasions will add bonus points to the tourists. Earlier, in July, Maldives eased restrictions for tourists, with various concessions.

With the pandemic wreaking havoc in the global economy, many countries are trying to hold on with various economic measures. In this context, Chairman of Choice Group Mr Jose Thomas, running successful businesses in the US and India, shared his insights on how both the countries are tackling the issue.

He opined that the US, through various schemes, tried to ensure that its… read-more