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Petrodollar is pricing of oil in US dollar. This is the most common and significant meaning of “petrodollar.” It refers to the pricing of oil in US dollars in the international market. In 1974, the US and Saudi Arabia reached a series of agreements. Where Saudi Arabia would price oil in dollars and invest its Read more: Saudi Arabia’s Petrodollar Ends? Check Impact on Indian Market..
Fired SpaceX engineers sue Elon Musk. A group of 8 former fired SpaceX employees recently filed a lawsuit against Elon Musk and SpaceX. Alleging a toxic work environment, sexual harassment, discrimination, retaliation, and wrongful termination. The lawsuit claims that Musk fostered a sexist “Dark Ages” culture at the company, where female employees faced harassment and Read more: Fired SpaceX Engineers Sue Elon Musk for Sexism..
The US Federal Reserve (Fed) concluded its two-day meeting on June 11-12, 2024, and announced its decision to hold the Interest rate at 5.25%-5.50%. This decision marks the seventh consecutive meeting with no change in interest rates. Key points to consider from the meeting: No Interest Rate Change: The Fed decided to maintain the current Read more: US Fed’s decision to hold Interest Rates, Impact on Dollar..