Author: Press Room

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A surprise production cut announcement this week from Saudi Arabia and several other OPEC+ oil producers complicates the Federal Reserve’s mission to cool the economy and could worsen inflation in the United States, economists say. Energy prices across the globe surged last year when Russia invaded Ukraine, fueling global inflation just as the world’s major economies were beginning to rebalance after the pandemic. Since then, a drop in energy prices has helped cool US inflation, which has fallen from a 40-year peak of 9.1% in June to 6% in February, year over year, according to the Consumer Price Index. Energy…

The opposition leader of Thailand has promised to airdrop 10,000 baht ($300) in digital currency to anyone 16 or over should his Pheu Thai Party win the next election. On Wednesday, real estate mogul turned candidate Srettha Thavisin announced the $300 handout policy in the heavily populated central Thai province Nonthaburi, according to a report by the Bangkok Post.Paetongtarn Shinawatra, Pheu Thai’s chief adviser on public participation and innovation, claimed the policy is part of a blockchain-based project designed to distribute Thai products abroad and help introduce digital currencies to Thailand. The $300 airdrop will need to be spent within a 4-kilometer community…