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OECD details ‘hefty price’ of Ukraine war on global economy

Russia's war in Ukraine is derailing the global economy's recovery from the pandemic. The Organisation for Economic Cooperation and Development is the latest to slash its forecast for economic growth, warning of high inflation and a possible food crisis. Also in the show – India's central bank raises interest rates for the second time in less than a month, while Turkey's government refuses to do so, despite spiralling inflation.

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Eurozone inflation hits record 8.9% despite better-than-expected growth

Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices fueled by Russia's war in Ukraine, but the economy still managed better-than-expected, if meager, growth in the second quarter.

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European Central Bank hikes interest rates in race to tame runaway inflation

The European Central Bank raised interest rates by more than expected on Thursday as concerns about runaway inflation trumped growth considerations, even while the euro zone economy reels from the impact of Russia's war in Ukraine.

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Pandemic, slow recovery set back gender parity ‘by a generation’

The pandemic and a weak economic recovery have pushed back progress on closing the gender gap around the world. Saadia Zahidi, Managing Director of the World Economic Forum, says that issues including family care policies, an increasingly digital economy, and ongoing struggles in certain industries have all been setbacks for women. The WEF Global Gender Gap Report 2022 now projects it will take 132 years to reach gender parity.

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