Nigeria is launching its own digital currency. So, what do we know about it & how will this change the country’s finance industry?

Meet eNaira

In late August, the Central Bank of Nigeria (CBN) said that the country will work with Bitt Inc as a technical partner for launching its own digital currency, called the “eNaira”. The currency will have the same value as fiat naira (i.e., physical naira notes). Now, CBN has announced that they will launch a pilot scheme of the eNaira beginning on October 1st, 2021. …

Global stock markets are plummeting, and everyone is worried whether it will cause another ‘Lehman’ moment.

The Fall Of Markets

Global markets have plunged significantly in the past two trading days. On Monday, the Dow Jones Industrial Average slumped over 600 points on Monday. The Nasdaq Composite declined 2% while the S&P 500 index dipped 1.7%. According to Refinitiv data, as mentioned by Livemint, the selloff on Monday has witnessed a cumulative $2.2 trillion of value erased from the market capitalisation of world equities from a record high of $97 million touched on September 6.

Hong Kong’s Hang Seng Index…

There is a new COVID-19 variant, and we are here to tell you everything you need to know about it & whether you should be worried about it?

Meet The ‘Mu’ Variant

Last week, the World Health Organisation (WHO) named a new ‘variant of interest’ of the coronavirus, called the Mu variant. It was first found in Colombia in January 2021, and it has been identified in over 40 countries. Mu was officially termed as B.1.621, and it is the fifth ‘variant of interest’ to be monitored by WHO since March 2020.

WHO warned that it “has a constellation of…

We are explaining junk bonds in this article, but without any jargon.

What’s New?

Recently, the U.S-based cryptocurrency exchange Coinbase raised $2 billion via junk bonds. Sources told Bloomberg that the debt sale saw high demand from investors, with at least $7 billion of orders pouring in. Due to the high demand, Coinbase was able to increase the deal’s size from $1.5 billion to $2 billion.

Sources also told Bloomberg; equal amounts of seven-year-old bonds were sold at an interest rate of 3.375% while 10-year-old bonds were sold at an interest rate of 3.625%. …

Many are warning that the food shortage in the UK might become permanent. So, how did the country get here?

What’s New?

A couple of days back, Ian Wright, outgoing chief executive of the Food and Drink Federation, warned that supply issues have hit supermarkets, and high street favourites are “going to get worse” with a shortage of half a million food and drink workers. Wright added, as mentioned by London Evening Standard, “It’s going to get worse — and it’s not going to get better after getting worse any time soon.” Wright also said that companies now have to…

North Korea has tested its missiles twice in the past couple of days. What do we know about the missiles, and what does this test mean for other countries?

What Happened?

South Korea’s military said that North Korea has fired two ballistic missiles into the sea off its east coast on Wednesday. This news comes two days after North Korea claimed to have tested a new missile in its first weapons test in six months. The missile launch has been confirmed by other countries as well.

South Korea’s Joint Chiefs of Staff said that two ballistic missiles were fired from…

After sending a car to space, Elon Musk now wants to send civilians. So, what do we know about this historic journey?

What’s New?

SpaceX, an aerospace company founded by Elon Musk, will be sending four people into space on September 15, 2021 (Wednesday). This is the first all-civilian mission that has ever been done, and it is poised to make history as the first all-civilian crew launched into Earth orbit. The mission is called Inspiration4, and it will lift off from NASA’s 39A at Kennedy Space Center in Florida. The mission will head on a three-day journey around Earth.

Zomato has shut down some of its subsidiaries in the past couple of weeks. What is the motive here?

No Longer Delivering Groceries

Last Saturday, Zomato said that it has decided to shut down its grocery delivery service from September 17. The company said that this move has been taken mainly on account of gaps in order fulfilment, leading to poor customer experience. The mail sent by the company said that Zomato has realised that it is extremely difficult to pull off such a delivery promise with high fulfilment rates consistently, in a marketplace model (like the company’s).

However, this…

Cuba is vaccinating toddlers. Why is this important, and what can we learn from Cuba?

The countries around the world are trying their best to vaccinate their population to control the spread of COVID-19 infections. India is putting a lot of efforts to vaccinate everyone above the age of 18, and it is also looking to vaccinate teenagers once those vaccines get appropriate approvals. It makes sense that a lot of countries are trying to vaccinate teenagers because once the economy reopens, they will be going back to schools, and they will be vulnerable to the virus. …

The Sri Lankan government is trying its best to help the nation that is struggling with food shortage. We take a closer look at where it all began…

What Happened?

Sri Lanka’s parliament has given approval to a state of emergency declared by the Sri Lankan President Gotabaya Rajapaksa on August 30, 2021, using powers vested in the country’s Public Security Ordinance. The emergency was declared with a view to stabilizing the prices of food items such like sugar, and rice, and maintaining their supply.

A statement, as mentioned by News18, said that the government will provide essential food items…


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