Profitloss Centerstage Events

Democratic Republic of Congo joining the East African Community took center stage on Tuesday, 29 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 4

The Democratic Republic of the Congo, the largest country in...

The Democratic Republic of the Congo, the largest country in both area and population in Central Africa, officially joins the East African Community. This move grants the regional bloc access to the Atlantic Ocean and expands its geographical reach. The Congo's inclusion in the community strengthens regional integration efforts and opens up new opportunities for cooperation and economic development among member states.

Monday, 28 March, 2022

The Hubble Space Telescope has made an extraordinary observation of...

The Hubble Space Telescope has made an extraordinary observation of the most distant single star known to date. Dubbed Earendel by astronomers, this star is located a staggering 28 billion light-years away, making it the farthest star ever detected. Its light dates back approximately 900 million years after the Big Bang, surpassing Hubble's previous record from 2018 when it discovered a star from the universe's early stages, around four billion years old.

Tuesday, 29 March, 2022

In an effort to curb inflation, President Joe Biden has...

In an effort to curb inflation, President Joe Biden has directed the release of approximately one million barrels of crude oil per day from the Strategic Petroleum Reserve over the next six months. This move aims to increase oil supply and stabilize prices. The decision comes as part of the government's broader strategy to address rising inflationary pressures and ensure the availability and affordability of essential commodities in the market.

Wednesday, 30 March, 2022

Following violent protests over Sri Lanka's severe economic crisis, President...

Following violent protests over Sri Lanka's severe economic crisis, President Gotabaya Rajapaksa declared a nationwide public emergency to ensure public security, protect public order, and maintain essential services. The protests, driven by shortages of fuel and other goods, led to clashes with authorities and arrests. The country, facing extensive power outages and economic challenges exacerbated by the pandemic, has seen its tourism industry and remittances decline. Public finances were further strained by tax cuts promised during Rajapaksa's election campaign.

Thursday, 31 March, 2022

Australia and India have officially signed the Australia-India Economic Cooperation...

Australia and India have officially signed the Australia-India Economic Cooperation and Trade Agreement, aiming to strengthen trade ties. The virtual ceremony included Trade Minister Dan Tehan, India's Minister of Commerce & Industry Piyush Goyal, and the respective Prime Ministers. Prime Minister Scott Morrison highlighted the agreement's significance and its potential to open doors in the world's second most populous nation. Both countries expressed a commitment to further enhance their trade relationship, considering this deal as a stepping stone for future cooperation.

Friday, 1 April, 2022

Amid a severe economic crisis in Sri Lanka, all cabinet...

Amid a severe economic crisis in Sri Lanka, all cabinet ministers, excluding President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa, have tendered their resignations. The move came after reports of Mahinda Rajapaksa's resignation were refuted by the Prime Minister's Office. The resignations follow the declaration of a state of emergency and the implementation of a countrywide curfew due to rising prices, shortages, and power cuts. Cabinet Minister Namal Rajapaksa, son of Mahinda Rajapaksa, also announced his resignation on Twitter.

Saturday, 2 April, 2022

Lebanon has officially declared bankruptcy, according to Deputy Prime Minister...

Lebanon has officially declared bankruptcy, according to Deputy Prime Minister Saadeh al-Shami. The state and the central bank have both faced significant financial losses, which will be distributed among various entities, including the state, the central bank, banks, and depositors. Lebanon has been in the midst of a severe economic crisis since 2019, leading to currency depreciation, fuel and medical shortages, and widespread power outages. Cash withdrawals in foreign currency have been heavily restricted since 2019.

Sunday, 3 April, 2022