News article in McDonald’s website confirms that after more than 30 years of operations in the country, McDonald’s Corporation...


McDonald’s To Exit from Russia after 30 Years of Service in the Country

The dollar slipped against other major currencies for a third straight day on Tuesday, tempering a long rally as investors cashed out and trimmed bets on U.S...

Stock Markets

Dollar Slipped against other Major Currencies as Focus turns to Growth

Asian shares rise on Tuesday, boosted by technology majors, as hopes expectation grow for an easing of China's regulatory crackdown on...

Stock Markets

Asian Shares Rise on High Expectation of Easing China Tech Crackdown

On Friday, Elon Musk revealed that his $44 billion takeover deal for Twitter Inc. has been put “temporarily on hold”, triggering a share plunge...

Stock Markets

Musk’s $44 Billion Twitter Acquisition Deal ‘on Hold’ Causing Shares to Plunge

His Highness Sheikh Khalifa bin Zayed Al Nahyan, the President of the United Arab Emirates and Ruler of Abu Dhabi, has passed away on Friday, May 13, aged 73...


RIP: UAE’s Sheikh Khalifa Bin Zayed Al Nahyan Passes Away

Stock Markets

24 Feb 2022

ECB Convenes as Ukraine-Russia Crisis Signals Persistent Negative Interest Rates

ECB Convenes as Ukraine-Russia Crisis Signals Persistent Negative Interest Rates

The Index Today

The European Central Bank (ECB) is set to meet on Thursday amid escalating conditions between Russia and Ukraine. The political unrest in Eastern Europe could potentially hamper the EU’s economy through the persistence of negative interest rates as a result.

The “informal get-together” had been initially intended towards deliberating the central bank’s end of bond-buying stimulus plan to make way for the first interest rate hike to be implemented following its March 10th policy meeting. However, the current prospect of war between Russia and Ukraine could potentially spell less commerce, more energy costs and other economic issues, given that Europe is significantly incumbent on Russia for trade.

Yannis Stournaras of the ECB said to Reuters, "In my view it is going to have a short-term inflationary effect – that is prices will increase due to higher energy costs." He contended that "in the medium to long term I think that the consequences will be deflationary through adverse trade effects and of course through the rise in energy prices."

©Photo: The New York Times