Author: Steven Sahiounie

Professor Stefan Dercon, Professor of Development Economics, Centre for the Study of African Economies (CSAE), says the government needs to exercise political will to restructure Ghana’s economy. He said that would require short term measures involving fiscal restraints such as cutting down on government expenditure. “In the long term, the future looks bright but it’s the path to it that is complicated and politically costly for those in power. We just have to find a way to go through it. Ignoring it will definitely be the biggest mistake to make because that would stifle the ability to go to longer…

In this note, we aim to provide a top-down view of the economic impact of internet policies in China. In our view, the Chinese government has begun to soften its stance on heavy regulation in the digital consumer market in the past few years. At the same time, there is policy support for digitising industry.We will try to quantify the loss of revenue from regulation in the digital consumer market as well as the potential gains from policy support within the digital industrial market. This should give us some idea about the outlook for the overall digital economy. Data and…

The eurozone economy continues to show clear signs of recession. While consumers became slightly more upbeat – but still at depressed levels – in November, industry and services still showed signs of contracting activity. Industry sentiment decreased from -1.2 to -2 in November, the lowest reading since January last year. Businesses reported a sharp decline in recent production trends as new orders continue to drop. Production expectations slightly improved, perhaps as supply chain problems are easing. Nevertheless, with orders still in decline, it is hard to predict a swift turnaround in production. The service sector also saw the indicator for…

Exports of oil and agricultural commodities are booming. Canada’s economy expanded slightly in September, with the country’s gross domestic product growing by 0.7 per cent during the third quarter. Statistics Canada reported Tuesday that exports in goods producing industries led the way during the quarter, offsetting service sector output that was essentially flat. Oil and gas extraction grew by 1.8 per cent in September, led by a surge in oilsands extraction. The country set a high-water mark for crude bitumen production during the month, ahead of the record-setting output seen in July and August. Agricultural production also boomed during the month,…

Energy major calls for deliveries via the Power of Siberia mega pipeline to be increased. Russian gas export to China via the so-called eastern route, the Power of Siberia pipeline, should be steadily increased, according to Huang Yongzhang, Vice President of China National Petroleum Corporation (CNPC). The 3,000 kilometer (1,864 mile) cross-border pipeline started deliveries of Russian natural gas to China in 2019. Its capacity is 61 billion cubic meters (bcm) of gas per year, including 38 bcm for export. Last year, Russian gas supplies to China increased by 10.4 bcm via the mega pipeline. “It is necessary to steadily…

Steven Sahiounie, journalist and political commentator Israeli citizens and journalists are allowed in Qatar in a FIFA agreement during the 2022 World Cup now underway in Doha. Being allowed to enter a country to watch football, or to cover an event as a journalist or media crew, is far different than being welcome. Israeli journalists have reported numerous interactions with football fans and locals in Qatar that let them know they are not welcome because they are from Israel. Moav Vardi, Israeli channel KAN 11, was told by a football fan on live TV from Doha, “It is Palestine, there…

The Food and Agriculture Organization of the United Nations (FAO) said Tuesday that it has stepped up humanitarian response in Somalia through cash transfers to mitigate the impact of drought on the food security and livelihoods of affected rural communities.FAO Representative in Somalia Etienne Peterschmitt said the current drought affecting the country is the worst seen in at least four decades, adding that parts of the country are on the brink of famine.Peterschmitt said FAO’s cash transfer assistance to vulnerable rural communities addresses their immediate needs while helping mitigate livelihood collapse.”This keeps families together during a crisis, reducing the risks…

T he World Cup knockout stages are beginning to shape up, and Gareth Southgate’s have booked their place in the last-16 after brushing Wales aside in their final group game. The other sides who have secured their spot in the knockouts so far are Brazil, France, Portugal, Netherlands, Senegal and the USA. The remaining places will be filled in the coming days, with the fates of Germany and Argentina of keen interests to fans. Both teams could crash out at the group stage after being upset by Japan and Saudi Arabia respectively in their opening games. 16 teams progress to…

Russian scientists have used computer modeling to discover a solution to one of the oil industry’s principal headaches.About two-thirds of global oil wells use sucker-rod pumping systems. These systems are connected to a pump, which is submerged in the well by a steel rod. In recent years, this rod has begun to be replaced by a special steel rope that allows the pump to be placed in a slanted well with a small diameter, Volgograd State Technical University (VolgSTU) explained.This, however, generated a problem in improving the operational reliability of the rope rods. Due to insufficient strength, they fall into…

Fossilized remains of a dinosaur that might have been related to the infamous Tyrannosaurus rex have been identified by researchers.Fossil fragments of what once was the dinosaur in question, Daspletosaurus wilsoni (named after the man who discovered the holotype specimen, John Wilson), were originally discovered in the US state of Montana, at the Judith River Formation from a site discovered in 2017.Having managed to extract the fragments from underneath solid rock, paleontologists in the US now postulate that this dinosaur existed over 76 million years ago and belonged to the family Tyrannosauridae – the family that includes Tyrannosaurus rex. “The…