GLOBAL MARKETS GET A REALITY SHAKEDOWN: Just when investors and markets were cruising towards the next Fed rate hike, comes a reality check. And with quite the bite too, as markets swooned and currencies jittered on what uncertainties are out there. Reality No. 1 is that inflation still dogs major economies, and any thoughts investors have of discounting its worst effects do not make for a good plan. Yesterday US market drop was a fair reflection of that. Moral of the story for investors? Just hang in there. Let’s not do anything fancy at the moment, or at least until the next Fed hike and the immediate future thereafter. Play it safe. (Manoj Nair, Business Editor)
Image Credit: Reuters
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A DIRE WARNING ON CLIMATE CHANGE: The UN Secretary-General's warning that humanity is 'going in the wrong direction' on climate change is one that must be heeded by all. The UN has said that climate-related catastrophes will become commonplace if the world economy fails to decarbonise soon enough. Floods, droughts, heatwaves and storms, like what we have seen this year, are going from bad to worse. The assessment of Antonio Guterres shows "climate impacts heading into uncharted territory of destruction". All this shows that much work needs to be done by governments around the world. The sooner we heed these warnings, the better it will be for humanity. (By Alex Abraham, , Senior Associate Editor)
Image Credit: AFP
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DO NOT ABANDON BICYCLES AT DUBAI METRO: Roads and Transport Authority has removed hundreds of bicycles abandoned at 27 metro stations in the city. The move is part of the campaign to keep metro stations neat and tidy. It is the responsibility of riders not to dump their bikes outside the stations. The overall objective of the campaign is maintain the scenic view of the metro stations, which have been designed to integrate with the tourist and urban fabric of the emirate. Each station is meant to have its peculiar look and pattern that resonates with the local heritage and aesthetic appeal. (Comment by Ashfaq Ahmed, Senior Assistant Editor)
Image Credit: Supplied
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LEWANDOWSKI MAKES UNHAPPY RETURN TO BAYERN WITH BARCA: Striker Robert Lewandowski missed several guilt-edged chances last night as he returned to former club Bayern Munich with his new side Barcelona in the Champions League Group C clash. Bayern won the European heavyweight tie 2-0 and outplayed the Spaniards much to the delight of the home crowd at the packed Allianz Arena who booed their former talisman’s every touch. The victory puts Bayern in control of the group with six points from two games. Barcelona are second and coach Xavi Hernandez knows his side need to show a big improvement if they are to make the knockout stages. (By Imran Malik, Assistant Sports Editor)
Image Credit: AFP
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CHANGING TIMES FOR TV: The Emmy awards has faced its lowest viewership ever, after it fell roughly 24% compared to 2021. The star-studded show isn’t the only one in Hollywood to be hit with low viewership. It’s the same case for the Oscars and the Grammys. The show must go on every year, despite audiences’ attention spans reducing. These lavish events are not as relatable anymore, and celebrity culture has shifted. Movie and TV stars aren’t as looked up to and admired as they once were. These shows simply have to accept that they’re not going to get the viewership they used to. (By Jennifer Barretto, Assistant Editor – Features)
Image Credit: REUTERS
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