Fed considers interest rate hikes in 2023, COVID Olympic concerns, and maritime drones | Art Culture News

We collect data from this week’s biggest economic news report so that you can impress yourself and your friends.

It’s Friday again, in case you missed it, we have collected the most famous business and economic stories of the week to keep you updated.

We have stories you want to read, from the maiden voyage of a sea drone equipped with artificial intelligence to prepare to cross the Atlantic, to the growing concern that the Tokyo Olympics may undermine Japan’s economic recovery, to the image of an NBA agent-the company that founded AFA Sports Home-the only African sportswear company to officially equip the team for the upcoming Olympics.

AFA is also creating much-needed jobs in Nigeria, which is hit by inflation. Speaking of inflation, the US Federal Reserve (Fed/FED) raised the outlook for this year’s US inflation-and hinted that it might raise interest rates as soon as 2023, which surprised many people.

When some things rise, others must fall. As people wake up from hibernation and let go of control, the COVID-19 boom in the video game industry is slowing last year. Finally, a British computer scientist is preparing to auction the original code of a little thing called the World Wide Web. Maybe you have heard of it?

Let’s dive into these stories and more.


This is the level to which the Fed expects inflation to rise in 2021-a full percentage point higher than its March forecast.Kaelyn Forde of Al Jazeera summarizes the latest meeting of Fed policy makers and their revelations on the prospects of the world’s largest economy Here.

$175.8 billion

According to data from analytics company Newzoo, this is the revenue that the gaming industry is expected to generate globally in 2021-a slight decrease compared to last year, when COVID-19 restrictions kept people at home and the video game market was booming.

As the economy opens up again, the gaming industry faces an uphill battle to capture the momentum and figures of last year, not to mention solving the serious problems before the pandemic, such as the long-term lack of diversity in the industry. To understand how it responds to these challenges, Al Jazeera’s Amy Thompson (actually) participated in this year’s Electronic Entertainment Expo (E3), one of the biggest trade shows for gaming.Read all about the highlights of E3 Here.


There are still a few weeks away from the opening of the Tokyo Olympics. But not everyone in Japan is keen on hosting the Olympics. They worry that the Olympics may turn into a super-spreading event, triggering more COVID-19 restrictions that weaken businesses and undermine the country’s economic recovery.

A family walks through an advertisement for the 2020 Olympic and Paralympic Games in Tokyo, Japan [File: Issei Kato/Reuters]

Nurses, medical associations, business leaders, and even a top medical consultant in the government have been calling for another postponement or cancellation of the Olympics.Al Jazeera’s Lorien Bellanger has a story Here.


This is the experiment of how many kilograms can be accommodated in the modular compartment of the Mayflower Autonomous Ship, a maritime drone guided by a “captain” powered by artificial intelligence, preparing for the first transatlantic voyage.

When the Mayflower leaves its home port in Plymouth, England, to attempt the world’s first fully autonomous transatlantic voyage, it will be guided by a well-trained, artificial intelligence-driven “captain” and a “navigator” proficient in collision avoidance rules.sea [File: Oliver Dickinson for IBM/ProMare]

Ah ah ah Captain!Al Jazeera’s Dee Ann Divis tells the story Here.


This is the job opportunities created in Africa by the clothing brand AFA Sports, also known as “Africa for Africa” ??sports, since its launch in November 2016. In this short period of time, it has developed into one of the most popular sports goods and clothing brands on the African continent, and is the only African sportswear company officially equipped for the Olympic team to be held in Japan next month.

AFA Sports plans to open a sports shoe factory in Africa next year, so that its production on the African continent will reach 100% [Courtesy of AFA Sports]

AFA Sports is the brainchild of Ugo Udezue. Ugo Udezue is a former agent of the National Basketball Association. His mission is to unify Africa through sports.Al Jazeera’s Idah Waringa tells his story Here.


This is how many lines of code will be sold as non-fungible tokens (NFT) when Sotheby’s auctions off the original source code of the World Wide Web written by British computer scientist Tim Berners-Lee. NFT is a digital file supported by blockchain technology that can verify the legal owner of an item. Berners-Lee said that they are “a once-in-a-lifetime opportunity” to transform the art world.

When Berners Lee made his proposal on the Internet for the first time, his then boss gave him feedback: “Vague but exciting.” More than 30 years later, the World Wide Web has connected 4.6 billion people.Read more about landmark auctions Here.

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