Slashes

In a recent Department of Defense (DoD) memorandum, Pete Hegseth announced a significant re-evaluation of current contracts, highlighting a pivotal shift towards optimizing military resources. His focus, primarily aimed at a more efficient allocation of budgetary funds, underscored the essentiality of internal workforce capabilities over external consulting services. Hegseth boldly stated his intent to curtail contracts with prominent consulting firms such as Accenture, Deloitte, and Booz Allen. He argued, "Many of…

In an unexpected twist of economic decisions, Libya's central bank announced a significant devaluation of their currency on a quiet Sunday. The dinar's value has been adjusted down by 13.3% against the U.S. dollar, pegging the official exchange rate at 5.5677 dinars per dollar. This change, undeniably, is laden with historical echoes and contemporary realities. It’s not just numbers; it’s a story unfolding. It's fascinating when you think about it, this is the first recalibration since 2020,…

Egyptian President Abdel Fattah al-Sisi, in a bid to illuminate the economic ripples of regional tension, unveiled a worrying revelation on Monday. The Suez Canal, a crucial artery of global maritime trade, is hemorrhaging approximately $800 million every month. A staggering loss underscored by growing instability in the region. This shortfall not only poses a threat to Egypt’s economic engine but also raises a question: What are the far-reaching consequences of such financial hemorrhage on global…