The U.K. economy entering a technical recession in the final quarter of this year takes the centerstage among all global events which has happened over this week.
Picture Courtesy:
Profit loss
Centerstage events of week 2
A Dutch court ordered the government to block all exports...
A Dutch court ordered the government to block all exports of F-35 fighter jet parts to Israel within seven days, citing risks of violating international humanitarian law in Gaza. The ruling came after a lawsuit from rights groups, including Oxfam's Dutch branch, highlighting the humanitarian impact of the war. Israel denies abuses, stating it is fighting Hamas militants. The Dutch government plans to appeal, asserting that foreign policy decisions should be state-controlled, not court-mandated.
Monday, 12 February, 2024
Diamondback Energy announced plans to acquire Endeavor Energy Partners, the...
Diamondback Energy announced plans to acquire Endeavor Energy Partners, the largest privately held oil and gas producer in the Permian Basin, in a cash-and-stock deal valued at $26 billion, including debt. This acquisition will make Diamondback the third-largest producer in the region, following Exxon and Chevron. The deal reflects ongoing consolidation in the Permian Basin to enhance production, highlighted by Exxon's $60 billion acquisition of Pioneer Natural Resources earlier in 2023.
Tuesday, 13 February, 2024
A German archaeological team discovered a submerged Stone Age megastructure...
A German archaeological team discovered a submerged Stone Age megastructure in the Western Baltic Sea, 21 meters deep. Likely built by hunter-gatherers over 10,000 years ago and submerged around 8,500 years ago, it was found near the Bay of Mecklenburg, 10 km northwest of Rerik. Made of 1,673 stones over 971 meters, the Blinkerwall was used to guide and hunt reindeer. Its pristine preservation offers insights into ancient lifestyles and territorial development.
Wednesday, 14 February, 2024
Greece has become the first Orthodox Christian country to legalize...
Greece has become the first Orthodox Christian country to legalize same-sex marriage, despite opposition from the church and some politicians. Parliament passed the measure on Thursday, with 176 lawmakers in favor, 76 against, two abstaining, and 46 absent. The bill also allows same-sex couples to adopt children. Prime Minister Kyriakos Mitsotakis championed the legislation, facing resistance from his New Democracy party but gaining support from other parties. Supporters celebrated in Athens, while opponents, including many Orthodox Christians, protested.
Thursday, 15 February, 2024
The U.K. economy entered a technical recession in the final...
The U.K. economy entered a technical recession in the final quarter of last year, with GDP shrinking by 0.3%, marking the second consecutive quarterly decline. The Office for National Statistics reported contractions in all main sectors: services (-0.2%), production (-1%), and construction (-1.3%). Annual GDP growth for 2023 was a mere 0.1%. Finance Minister Jeremy Hunt highlighted high inflation as the primary obstacle to growth, necessitating firm interest rates by the Bank of England.
Friday, 16 February, 2024
Russian President Vladimir Putin praised the capture of Avdiivka as...
Russian President Vladimir Putin praised the capture of Avdiivka as an "important victory" after Ukrainian forces withdrew. Defence Minister Sergei Shoigu reported the town's seizure, which was a key defensive hub for Ukraine, to Putin at the Kremlin. The victory is expected to move the front line away from Donetsk, reducing Ukraine's shelling capability. Ukrainian army chief Oleksandr Syrskii ordered the withdrawal to avoid encirclement and preserve soldiers' lives after months of intense fighting.
Saturday, 17 February, 2024
Denmark will donate its entire stock of ammunition to Kyiv,...
Denmark will donate its entire stock of ammunition to Kyiv, Prime Minister Mette Frederiksen announced, urging other European nations to increase their support for Ukraine. Speaking at the Munich Security Conference, Frederiksen emphasized the urgency of Ukraine's request for artillery. She highlighted that European leaders frequently cite production issues as barriers to boosting supplies. Denmark is the first country to make such a comprehensive donation.
Sunday, 18 February, 2024
