Group Of Seven

British economy will take a smaller hit in 2023 than previously anticipated, says IMF

Britain is no longer the only Group of Seven economy set for a fall in GDP this year as Germany too is now expected to shrink by 0.1%, the IMF global forecasts indicated. After narrowly avoiding recession in 2022, Britain’s economy has shown some signs of resilience in early 2023

Japan's main opposition party submits bill to parliament to approve same-sex marriage

Japan is the only Group of Seven nation that does not recognise same-sex marriage and Prime Minister Fumio Kishida has come under increasing scrutiny over LGBTQ protections in recent weeks

US welcomes price cap on Russian oil, describes it as 'important tool' that will benefit emerging markets

The Group of Seven nations and Australia joined the European Union in adopting the price cap on Russian oil, aimed at significantly reducing Moscow’s income and President Putin’s ability to continue to finance the war in Ukraine

Top allies agree to back never-before-tried plan to cap Russian oil price as winter nears

A month later, the Group of Seven, representing some of the world's leading economies, is still figuring out how to execute the plan, a far more complex task than it might seem at first blush, and the 5 December deadline to marshal participants is fast approaching

Ukraine-Russia war: G7 countries impose new economic sanctions against Kremlin

While stopping short of a full embargo on energy imports, the G7 said they will 'expedite' plans to slash reliance on Russian fossil fuels

Explained: As G7 plans Build Back Better World, here's how much China has spent on Belt And Road Initiative

Compared to the post-World War domination that the US achieved, China may appear relatively new to the game. But the dragon has already made big strides; it is the US that may appear like it needs to play catch-up

G7 Summit 2021: COVID-19 recovery, vaccine distribution, climate action likely to dominate agenda

Since the G-7 last met two years ago, COVID-19 has killed more than 3.7 million people and decimated economies with lockdowns and layoffs

G-7 nations sign landmark agreement, back minimum global corporate tax rate of 15%

The endorsement from the G-7 could help build momentum for a deal in wider talks among more than 140 countries being held in Paris as well as a G20 finance ministers meeting in Venice in July

Dollar scales record levels at 3-year peak; global rampage spurs FX interventions, speculation of big G7 move

The dollar’s brutal ascent—up 6.5 percent this month against a basket of peers—has sent almost every other currency reeling.

Japan passes new anti-plastic law to reduce volume of waste dumped into ocean

A bill intended to reduce the volume of microplastics dumped into the ocean was approved by Japan's parliament on Friday