Sri Lanka is an island country located in South Asia, in which the Rajapaksa family has dominated the country’s politics for the past two decades. Due to problems including nepotism among the political class, the collapse of tourism, and shortages of essential goods, Sri Lanka has faced one of the w
The United States (U.S.) Consumer Price Index (CPI) figures for June 2022 reached 9.1%, the highest in nearly 41 years. These high inflation numbers have led the U.S. Federal Reserve, also known as the Fed, to hike the interest rates further. On July 17th, the Wall Street Journal reported that the F
South Korea and the United States (U.S.) military resumed large-scale field exercises from August 22nd to September 1st, rebranded as Ulchi Freedom Shield (UFS). The joint exercise used to be conducted as a computer simulation-based training exercise, but this year’s military drill will include an o
Recently, BA.5, one of the most contagious Omicron subvariants of the coronavirus disease 2019 (COVID-19), has been spreading rapidly. In addition, as South Korea confirmed its first case of BA.2.75, a new highly-mutated subvariant of the virus – nicknamed “Centaurus” – concerns have gro
The yen exchange rate against the dollar soared to ¥131.5 on April 28th, the highest in 20 years. Until now, Japan has depreciated the yen value through quantitative easing to activate the economy. Former Prime Minister Shinzo Abe had implemented a stimulating policy called Abenomics, a policy t
Elon Musk, the chief executive officer (CEO) of Tesla, the electronic car manufacturer, took over Twitter at $44 billion. The Board of Twitter agreed to sell the company to Musk for $54.2 per share, which is a 38% premium over the stock price on April 1st. Bret Taylor, Twitter’s independent Board Ch
The Seoul government has revealed that discussions on extending late-night taxi hours will start after the local election on June 1st. Recently, while the late-night taxi shortage intensified as the demand surged after social distancing rules were lifted, the number of taxi drivers decreased due to
With the start of President Yoon Seok-yeol’s term on May 10th, the presidential office moved to the Ministry of National Defense compound, and the presidential residence transferred to the residence of the Minister of Foreign Affairs in Yongsan. Consequently, the Ministry of National Defense moved t
When the Taliban returned to power in Afghanistan last August, they vowed to respect women’s rights; however, recent acts have proven otherwise. Lately, the government has been introducing sexual discrimination policies and has been further putting Islamic orders forward through the Ministry for Pro
Concerns about the natural gas crisis have risen recently as Russia has mentioned “supply discontinuation” of the European natural gas supply. The value of Russia’s currency, the ruble, has dropped significantly since the invasion of Ukraine. Thus, Russia requested foreign countries to purchase natu
To prevent serious accounting scandals, the Financial Supervisory Service (FSS) decided to strengthen its supervision of companies with a high risk of accounting fraud and announced the 2022 Accounting Screening and Inspection Operation Plan on March 27th. As economic uncertainty continues, companie
Farmers’ opposition to joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has continued to grow since the previous government. With a free trade agreement (FTA) between countries in the Asia-Pacific area led by Japan, the CPTPP accounts for 15.2% of global trad