Profitloss Centerstage Events

The freeze of €22 billion of Russia by France took center stage on Sunday, 20 March 2022 among all major events across the globe, and remains the highlight of this week's list of center stage events.
Picture Courtesy: Profit loss

Centerstage events of week 2

Puerto Rico exits out of bankruptcy. Following the bankruptcy, criticized...

Puerto Rico exits out of bankruptcy. Following the bankruptcy, criticized austerity measures were imposed on Puerto Rico, despite the island's substantial expenditure on consultants and lawyers during the process. The Financial Oversight and Management Board prioritized Puerto Rico's exit from bankruptcy and the retirement of its director, Natalie Jaresko. A federal judge approved a debt restructuring plan, reducing government claims from $33 billion to $7.4 billion. The plan allocates 7 cents per taxpayer dollar to debt service and establishes a public pension reserve trust funded with over $10 billion.

Monday, 14 March, 2022

Kazakhstan's President, Kassym-Jomart Tokayev, presents a set of reforms to...

Kazakhstan's President, Kassym-Jomart Tokayev, presents a set of reforms to the parliament aimed at transitioning from a "superpresidential" rule to a presidential republic with a robust parliament. The proposals include the revival of the Constitutional Court, lowering the membership requirement for political parties, reducing presidential appointments to parliament, and restoring three merged regions. Tokayev seeks to strengthen the political system and promote a more balanced power structure through these changes.

Tuesday, 15 March, 2022

Amazon has finalized its acquisition of MGM for $8.5 billion,...

Amazon has finalized its acquisition of MGM for $8.5 billion, integrating over 4,000 films and 17,000 TV shows into its streaming service, Prime Video. The vast collection includes renowned franchises like "James Bond" and "Rocky," as well as beloved classics such as "Fargo," "Robocop," and "Silence of the Lambs." This strategic move strengthens Prime Video's position against competitors like Netflix, Hulu, and HBO Max. The deal received approval from the European Union's antitrust regulator and surpassed the U.S. Federal Trade Commission's deadline for objections.

Wednesday, 16 March, 2022

Turkey inaugurated the 1915 Canakkale Bridge, the world's longest suspension...

Turkey inaugurated the 1915 Canakkale Bridge, the world's longest suspension bridge, built in collaboration with South Korean contractors. Spanning 4,608 meters, it surpasses Japan's Akashi Kaikyo Bridge. The bridge connects Asia and Europe, reducing travel time from hours to six minutes. South Korean firms SK ecoplant and DL E&C, along with Turkish contractors, completed the project. President Recep Tayyip Erdogan highlighted its economic benefits and emphasized Turkey's achievement of having three of the world's longest suspension bridges. The bridge's name and dimensions hold significant historical and symbolic references.

Thursday, 17 March, 2022

Serdar Berdimuhamedow has assumed the role of Turkmenistan's President, following...

Serdar Berdimuhamedow has assumed the role of Turkmenistan's President, following the tenure of his father, Gurbanguly Berdimuhamedov, who served from 2006 to 2022. Notably, Turkmenistan holds presidential elections every seven years. Serdar Berdymukhamedov was elected with 72.97% of the votes, allowing him to lead the nation known for its abundant gas reserves.

Friday, 18 March, 2022

In a significant move, France has terminated all diplomatic negotiations...

In a significant move, France has terminated all diplomatic negotiations with Russia and implemented stringent measures. The country has frozen financial assets amounting to €22 billion belonging to the Central Bank of the Russian Federation. Additionally, properties owned by Russian oligarchs, valued at €150 million, have been frozen. These actions reflect France's firm stance and determination to exert pressure on Russia amid escalating tensions.

Saturday, 19 March, 2022

NASA celebrates a major milestone in exoplanet exploration as they...

NASA celebrates a major milestone in exoplanet exploration as they confirm the discovery of their 5000th exoplanet. This achievement highlights the incredible progress made in the last 30 years through the observations of NASA space telescopes. The newly added batch of 65 exoplanets, ranging from small rocky worlds to gas giants, has expanded our understanding of planetary diversity, including unique systems with binary stars and planets orbiting remnants of collapsed stars.

Sunday, 20 March, 2022