In spite of many turbulences in the banking sector, the Federal Reserve System in the U.S. decided to stay the course and keep raising the interest rates in its fight against inflation. In a two-day meeting of the Federal Open Market Committee (FOMC), Fed chairman Jerome Powell said that a modest 0.25 percent hike is bringing the target range for the federal funds' rates to 4.75 percent to again 5 percent. It is the highest level since 2007.

According to the reports in the latest economic projections, Fed expects economic growth to be slightly slower in 2023, and the inflation slightly higher than they predicted in December 2022. It has been forecasted that raising interest rates to be 5.1 percent by the end of 2023 before coming down to…

About 71 percent of the globe is covered with water, but the percentage falls too low when it comes to safe and fresh water. With "Water Day" on March 22, the UN decided to mark it to celebrate and raise awareness of more than 2 billion people living without access to safe water.

According to the reports by the UN, water stress is a condition when a territory withdraws more than or 25 percent of its renewable freshwater resources. In 2018, only 18.4 percent of the total renewable freshwater resources were withdrawn worldwide. But places are experiencing severe issues regionally still. As per the data, Northern Africa faces critical water stress levels, and Central and Southern Asia are grouped as having high water stress. Also, the report…

Among one the twenty most valuable European banks, Swiss bank Credit Suisse was one. But it sunk below the rank 146 on the global list of banks with the biggest market capitalizations as it has almost lost 19 percent of its market cap since March 2023. Fellow Swiss lender UBS has taken it over as a lifeline to save the Swiss economy.

Suisse's stock market value was not as low as $3.2 billion, which it was paid for in the takeover. Thus, observers believe that the bank has been sold for a meagre price. According to the reports, the bank was hit hard by the global ripple effects of two U.S. bank failures, Signature Bank and Silicon Valley Bank.

As per the information, the reasons which led to the collapse of the banking system are balance…

The bank crisis has officially found its way across the Atlantic after the collapse of Silicon Valley Bank. After a hasty deal by the regulators, the largest bank in Switzerland, UBS, agreed to buy its long-time rival Credit Suisse for USD 3.2 billion on Sunday.

 The deal, with a staggering 60 percent below Credit Suisse's market capitalization, marked the end of this 166-year-old institution and UBS's status as one of the largest financial institutions in Europe. Credit Suisse also falls victim to the banking system loss, if not directly linked to the Silicon Valley Bank and Signature Bank. This made the bank’s latest annual report a giant red flag for their investors and clients.

According to the research reports, the Zurich-based bank…

U.S. releases every month’s calculation of the retail sales. In this report, the results are based on the core retail segments excluding the food, fuel and auto using year-over-year comparisons.

There is a rise of 7.7 percent year in the retail sales category with e-commerce up to 8.5 percent according to the numbers released by the United States Department of Commerce. As per the data, February always tends to be the slowest month for retail sales but this time it led to the fairly steady growth in employment.

According to the Global Data Managing Director Neil Saunders, “the consumers would continue to dig deep into the fund consumption and showing resilience despite unfavorable conditions.” Inflation remained high in the February 2023…

Smart cities increase operational efficiency, improve the quality of government services, and manage data assets, services, and resources efficiently by taking insights from ICT (Information and Communication Technologies). Thus, the data collected is sued generally in transportation, waste management, utilities, crime detection, and power plants. The technology of smart cities allows for reduction of both costs and resource consumption.

As per the reports, the technology used by smart cities will become increasingly important, and cities are expected to become a $400 billion industry in 2020. Approximately 55 percent of the world's people S,ive in urban areas, which is supposed to reach 68 percent by 2050.

Barcelona and Amsterdam are the…

OpenAI has launched its new multimodal language model GPT-4 in the second week of March 2023. It is released just four months after the release of the first version. According to the reports ChatGPT has taken the tech globe by storm with its ability to create everything from lyrics of a song to the answers of a medical licensing exam in the US responding to the user’s written query.

A research carried out by an organization in December 2022 was carried out just after the release of the platform to get opinions of the U.S. adults on this. The research found that respondents were tied to whether the AI could advance the process of writing the articles of news.

Forty-four percent says it can also bring either major or minor advances. On the…

Australia is all set to become the seventh country in the world to introduce nuclear-powered submarines as a part of a newly brokered deal of its naval fleet between the United States, the United Kingdom and Australia. The United States said it would sell three U.S. Virginia class nuclear-powered submarines in the early 2030s to Australia.

After the release of GPT-4, OpenAI's multimodal model is accepting image and text inputs other than chatGPT'S text -only. People on the internet are marvelling at the new engine's results in performing various tasks for creating working websites based on simple diagrams, writing codes, and outperforming humans in several standardized tests.

But there are rising concerns over what will happen with rapid advancements in AI, as per the reports. Since the AI models of  ChatGPT and GPT-4 are new with their advanced features for people to understand their limitations and capabilities. New York Times columnist Kevin Roose says, "GPT-4 is scary ad exciting". She adds that it involves two types of risks in AI systems. Firstly, the good ones, that…

With inflation report slightly hotter than expected showed that prices of consumers in the United States have risen by 6.4 percent in the past twelve months. According to the reports, it is the lowest annual increase since October 2021. Again, it is the seventh consecutive month of decreasing year -over-year inflation, even after continuing the disinflationary trend.

People are having the view, that “inflation is cooling”. But when the question arises, “will the prices be back to normal”? But it is important to find out what is the right answer to this.  To answer it, we should understand the difference between disinflation and deflation. Disinflation is happening in the global economic market currently. It means a deceleration of prices…

Wing company, owned by Google plans to launch drone delivery-network technology to handle bulk orders in millions, within 12 months. The report says, by operating drone as a network will improve efficiency. This wing delivers up to 1,000 packages in a day when evaluated “at scale” in Logan, Australia.

Drone delivery trials already been started in the Dublin suburb of Lusk. At the same time other companies are also in talks with the department of Transport and the Civil Aviation Authority about agreeing drone regulations for deliveries in the UK.

According to Adam Woodworth, the chief executive, the delivery system will look “more like an efficient data network rather than a traditional transportation system”. He added, in the trial, they…

After the Silicon Valley Bank (SVB) and Signature Bank collapsed, in order to strengthen public confidence in the banking sector the regulators are guaranteeing all the bank’s depositors that they are fully protected.

According to the statement published, the Department of the Treasury, the FDIC and the Federal Reserve announced that the depositors would have all the access to all their money on Monday, since the statement came on Sunday. And the deposits more than $250,000 limit will be insured by the FDIC. The same guarantees are offered to the customers of Signature Bank also.

The collapse of Silicon Valley Bank was shuttered recently in March 2023, it is the second-largest bank failure ever in the U.S. after the self -declared…

With different sounds and history, there are 7000 languages spoken all over the world. Some languages are more spoken due to various reasons like- number of native speakers or number of people speak it as their mother tongue or treat it as the second language.

When it comes most spoken language in the world then Chinese and English top the chart. Thus, the most spoken language in the world is Mandarin Chinese as it is voiced by around 1.1 billion people and it is also the official language of Mainland China.

Next comes Spanish in the list, with more than 400 million people speaking this is the second most spoken language on this earth. Spanish is the authorised language of 20 countries.

With nearly 360 million people speaking English all…

Metaverse is taking the world by storm. According to the reports, the metaverse is supposed to take the worldwide metaverse revenue up to USD 490 billion by 2030. Some other reports also say the global metaverse market will be worth USD 800 billion by 2024. Other surveys assume the market volume is between 750 and 1,700 billion US dollars.