Profitloss Centerstage Events

India objecting to mathematical models of WHO, linked to mortality of COVID-19 took center stage on Thursday, 5 May 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 1

The European Commission currently accuses Apple of abusing its market...

The European Commission currently accuses Apple of abusing its market position regarding contactless smartphone payments. In a preliminary finding, it states that the US company is potentially violating competition law by blocking rivals from accessing its "tap and go" technology. Apple denies the accusation and commits to cooperating with the Commission. If found guilty, Apple could face fines up to 10% of its $36.6bn (£29.2bn) global turnover based on last year's revenue. EU Vice-President Margrethe Vestager affirms that Apple may have restricted competition, favoring its own Apple Pay solution.

Monday, 2 May, 2022

The Federal Reserve is currently raising its benchmark interest rate...

The Federal Reserve is currently raising its benchmark interest rate by half a percentage point, taking its most aggressive action yet to combat a 40-year high in inflation. Fed Chairman Jerome Powell acknowledges the hardships caused by high inflation and assures the American people of their commitment to restoring price stability. Multiple 50-basis point rate hikes are expected in the future, along with a reduction in the Fed's $9 trillion balance sheet. These measures are driven by the need to recalibrate monetary policy due to the surge in prices.

Tuesday, 3 May, 2022

India currently strongly objects to the World Health Organization (WHO)...

India currently strongly objects to the World Health Organization (WHO) using mathematical models to estimate excess mortality linked to the COVID-19 pandemic. India questions the validity and robustness of the models and the methodology of data collection, stating that authentic data is available. Despite India's objections, the WHO released excess mortality estimates without addressing India's concerns. India plans to raise the issue at the World Health Assembly and other multilateral forums. India asserts that its accurate data from the Civil Registration System should be respected and used by the WHO instead of relying on less accurate mathematical projections.

Wednesday, 4 May, 2022

The Senate votes in favor of a non-binding motion that...

The Senate votes in favor of a non-binding motion that prohibits the Biden administration from revoking the designation of the Iran Revolutionary Guard Corps as a foreign terrorist organization. Although symbolic, this motion poses a concerning sign for the administration's efforts to revive the Iran nuclear deal. Surprisingly, 16 Democrats support the motion, including Majority Leader Chuck Schumer and other notable senators. Senator Robert Menendez, a vocal critic of the administration's diplomacy, did not vote. Some senators express their support to encourage stronger negotiations with Iran.

Thursday, 5 May, 2022

Nigerian airlines are set to suspend all domestic flights starting...

Nigerian airlines are set to suspend all domestic flights starting from Monday due to a fourfold increase in jet fuel prices, states the Airline Operators of Nigeria. The price of jet fuel has surged from 190 to 700 Nigerian naira per litre (from $0.45 to almost $1.70). This rise is a direct consequence of the Russian invasion of Ukraine. The sudden and significant increase is unsustainable for airlines, making air travel unaffordable for Nigerians already facing various challenges.

Friday, 6 May, 2022

Prime Minister Justin Trudeau, along with Deputy Prime Minister Chrystia...

Prime Minister Justin Trudeau, along with Deputy Prime Minister Chrystia Freeland and Foreign Affairs Minister Mélanie Joly, currently pays an unannounced visit to Kyiv, meeting with President Volodymyr Zelenskyy amidst the ongoing Russian invasion. During the visit, Trudeau tours a devastated suburban community, reaffirms Canada's enduring support for Ukraine, and reopens the Canadian Embassy in Kyiv. The ambassador is welcomed back, and the delegation is accompanied by an armed security detachment.

Saturday, 7 May, 2022

Prime Minister Mahinda Rajapaksa of Sri Lanka currently resigns amidst...

Prime Minister Mahinda Rajapaksa of Sri Lanka currently resigns amidst widespread protests regarding the government's handling of the deepening economic crisis. The resignation follows violent clashes between Rajapaksa supporters and anti-government protesters in Colombo, leading to casualties and injuries. The protests have been fueled by rising prices and power cuts experienced since the previous month. Sri Lanka is confronting its most severe economic crisis since gaining independence. Rajapaksa's resignation, although aimed at resolving the crisis, is unlikely to appease government opponents as long as President Gotabaya Rajapaksa remains in power.

Sunday, 8 May, 2022