IEP Future Trends May 10, 2022

May 10, 2022

IEP Future Trends May 10, 2022

May 10, 2022

◯ Conflict ◯ Development ◯ Social ◯ Economics ◯ Politics

IN THIS WEEK'S EDITION

What you need to know: Rouble leaps to 2-year high vs US dollar, Euro as EU increases sanctions, gang clashes in Haiti force hundreds to flee their homes, the WHO estimates nearly 15 million people died from COVID-19 over past two years, fears of stagnation inflation rise, Mumbai mosques turn volume down on call to prayer after Hindu's demands, Nepali mountaineer scales Mt Everest for record 26th time.

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SPECIAL EDITION: UKRAINE

Rouble leaps to over 2-year high vs US Dollar, Euro as EU increases sanctions. Russian capital controls include a ban on short selling, and foreign players are barred from ditching shares in Russian companies without permission.

Hungary, Slovakia, Czech Republic and Bulgaria still resisting EU ban on Russian oil. Due to their entrenched dependency on Russian oil, the four countries argue they cannot make the switch to other providers in a short time period without imperilling their national economies.

Mysterious series of deaths among Russian oligarchs. Seven Russian oligarchs, many involved with oil and gas, have recently died under mysterious circumstances.

CONFLICT

Haiti: Gang clashes in capital force hundreds to flee their homes. Clashes between rival gangs in the capital, Port-au-Prince, have forced hundreds of people to flee their homes.

Heavily armed militants break 60 inmates from Burkina Faso prison. Militants freed around 60 prisoners during an attack on a jail in northwest Burkina Faso, ransacking offices and setting vehicles ablaze before making their escape.

The UN Secretary-General expressed that insurgents' reintegration is ‘key to achieving peace’ in Nigeria. The Nigerian government has reintegration camps for surrendered insurgents as part of its strategy to fight terrorist groups.

Muslims and Christians clash in Ethiopia. At least 30 people have been killed and more than 100 injured in an inter-religious clash between Muslims and Christians, reportedly over land disputes.

Al-Shabaab gunmen attack major AU military base in Somalia. Al-Shabaab militants attacked a major military base of the African Union peacekeeping force in Somalia, killing nearly 60 soldiers.

DEVELOPMENT

The WHO estimates nearly 15 million people died from COVID-19 over past two years. There were 14.9 million excess deaths associated with COVID-19 by the end of 2021, the UN body said. More than double the number of reported deaths.

Antibiotic resistance detected in the food chain could have implications for human health. A new study has found surprisingly high rates of antibiotic resistance in samples of salmon and beef purchased from Australian supermarkets.

Canada warns it will prosecute astronauts for crimes in space and on the Moon. Canadian politicians have passed an amendment to the nation's Criminal Code to allow for the prosecution of crimes committed on the Moon by Canadian astronauts or space travellers.

Millions in Argentina relying on food banks and soup kitchens as prices surge. More than four million people depend on food banks and soup kitchens to eat, despite the country having a strong welfare network.

Uganda is set to include peace education in school programs. The initiative will be implemented at all levels of education, either as a subject or as a detailed topic in future school educational programmes.

ECONOMICS

Climate vulnerability of countries is related to their latitudinal point. S&P Global measured States’ GDP exposure to climate impacts by their latitude, where economies with greater physical climate risk are situated generally within 20 degrees of the equator line.

Fears of stagnation inflation rise. The Federal Reserve is hiking interest rates in an effort to defuse an explosive year of price inflation. But global forces could neutralize the effects of the tightening of monetary policy, and keep inflation high and growth low.

US GDP fell at a 1.4% pace to start the year as pandemic recovery takes a hit. Gross Domestic Product unexpectedly declined at a 1.4% annualized pace in the first quarter, marking an abrupt reversal of its best performance since 1984.

Sri Lanka in talks for $100 million emergency funding from Beijing-backed bank. The China-backed Asian Infrastructure Investment Bank is considering granting $100 million in emergency support to Sri Lanka.

OPEC+ to increase oil output by 432,000 barrels a day starting in June. Since Russia invaded Ukraine and the subsequent sanctions it received, its oil output has fallen from 11 million barrels a day in March to 10.1 million barrels a day in April.

POLITICS

Mumbai mosques turn volume down on call to prayer after Hindu's demands. In the state of Maharashtra, where Mumbai is located, more than 900 mosques in the west of the state had agreed to turn the volume down on calls to prayer following complaints from a local Hindu politician.

Nicaragua shuts down 50 non-profits in new crackdown. Nicaragua's parliament has voted in favour of shutting down another 50 non-governmental organisations, stating they fail to comply with regulations. The government has already banned 144 NGOs so far this year.

Guinea orders legal proceedings against former President Conde. Guinea's attorney general has ordered legal proceedings against former President Alpha Conde and 26 of his former officials over violence surrounding Conde's disputed bid for a third term.

Belfast takes Sinn Fein's historic election win in its stride. Irish nationalists in Belfast celebrated Sinn Fein’s historic election victory but there was little sign that the weekend’s political victory was leading to violence.

China to replace foreign computers with local alternatives in government bodies. Government agencies and State-backed corporations will have to replace 50 million computers within two years.

Facebook accused of causing havoc in Australia to influence new law. Meta is being accused of intentionally taking down the Facebook pages of Australian hospitals, emergency services, and charities as part of a negotiation tactic against the Australian Parliament last year.

SOCIAL

Nepali mountaineer scales Mt Everest for record 26th time. Kami Rita Sherpa, 52, scaled the 8,848.86m mountain, along the traditional southeast ridge route leading 10 other Sherpa climbers.

Mom’s voice holds a special place in kids’ brains, but changes for teenagers. When children reach their teenage years their brain finds new voices more interesting and is less interested in their mother’s voices.

In Bolivia, inmates can cut jail time by reading. Inmates in Bolivia's overcrowded prisons are now able to reduce their jail time by reading books, in a new program that aims to spread literacy and give hope despite a slow judicial process.

Google to provide ways to keep personal information private in searches. The company will let people request the removal of content from searches, such as personal contact information like phone numbers, email and physical addresses.

Parkinson’s Disease symptoms ‘reversed’ by mini implant. A small implant connected to electrodes inserted into the skull bone is providing huge relief to younger patients living with Parkinson’s disease, such that it could allow sufferers to pick up fine motor skills like playing golf again.

Researchers develop portable micro desalination unit. MIT researchers have developed a portable desalination unit, weighing less than 10 kilograms, that can remove particles and salts to generate drinking water.