Fed mulls 2023 rate hike, COVID Olympic fears, and a marine drone | Current events in Art and Culture

We’ve collected the numbers to know from the biggest economic news of the week so you can impress yourself and your friends.

It’s Friday back and in case you missed it, we’ve collected the most notable deals and economic stories of the week to keep you up to date.

We have stories you’ll want to read, from an artificially intelligent marine drone preparing for its first voyage across the Atlantic to growing fears that the Tokyo Olympics could derail Japan’s economic recovery to a profile of the NBA agent turned- entrepreneur who founded AFA Sports – the only African sportswear company that has officially dressed a team to the upcoming Olympic Games.

AFA also creates much needed jobs in Nigeria affected by inflation. And speaking of inflation, the U.S. Federal Reserve has revised its outlook to another for U.S. inflation this year – and surprised many by pointing out that it could raise interest rates as early as 2023.

And while some things are growing, others are about to fall. Last year’s COVID-19 boom in the video game industry slowed as people came out of hibernation and put in place controls. And finally, a British computer scientist is preparing to auction off the original code of a small thing called the World Wide Web. Did you hear him talk?

Immerse yourself in these stories and even more.

3.4 percent

This is the level at which the US Federal Reserve predicts that inflation will grow in 2021 – a percentage point higher than its March forecast. Al Jazeera’s Kaelyn Forde ends the Fed’s last meeting of policy makers and what he revealed about the prospects for the world’s largest economy here.

$ 175.8 billion

That’s how much revenue the gaming industry is expected to generate globally in 2021, according to analyst firm Newzoo – a slight decline from last year, when COVID-19 restrictions kept people piled up at home and in the marketplace. of the boom video games.

When the economies reopen, the gaming industry faces an upward battle to capture last year’s momentum and numbers, not to mention serious problems that preceded the pandemic, such as a chronic lack of diversity. in the industry. To see how she responds to these challenges, Al Jazeera’s Amy Thompson went (virtually) to this year’s Electronic Entertainment Expo (E3) – one of the biggest gaming fairs. Read all about the E3 highlights here.


It’s been weeks until the start of the Olympic Games in Tokyo. But not everyone in Japan is willing to hold back, fearing that the Games could turn into a superspanding event that will further restrict COVID-19 trade exploitation and derail the country’s economic recovery.

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

Nurses, medical associations, business leaders and even one of the government’s top medical advisers have demanded that the Olympic Games be postponed or canceled. Al Jazeera’s Lorian Belanger has the story here.


That’s how many kilograms of experience can be accommodated in modular compartments aboard the autonomous ship Mayflower, a marine drone led by an “intelligence-powered” captain preparing for his first transatlantic voyage.

When Mayflower leaves his home port in Plymouth, England to try the world’s first fully autonomous transatlantic voyage, he will be led by a highly trained “captain”, guided by artificial intelligence and a “navigator” versed in the rules. to avoid collisions at sea [File: Oliver Dickinson for IBM/ProMare]

Hey, hey captain! Al Jazeera’s Dee Ann Divis has this story here.


That’s how many jobs AFA Sports, a clothing brand also known as Sports “Africa for Africa”, has created in Africa since its launch in November 2016. In that short time, it has become one of the merchandising and hottest sportswear on the continent. company, and is the only African sports company to officially wear a team destined for the Olympic Games in Japan next month.

AFA Sports plans to open an athletic shoe factory in Africa next year, bringing its production on the continent to 100 percent. [Courtesy of AFA Sports]

AFA Sports is the brainchild of Ugo Udezue, a former agent of the National Basketball Association, whose mission is to unify Africa through sport. Al Jazeera’s Idah Waringa has its own story here.


That’s how many lines of code will go on sale as non-fungible tokens (NFTs) when Sotheby’s launches the original source code for the World Wide Web written by British computer scientist Tim Berners-Lee. NFTs are digital files supported by blockchain technology that verifies the legitimate ownership of an article. Berners-Lee says they are a “once-in-a-generation opportunity” to renew the art world.

When Berners-Lee first presented his proposal on the internet, his boss at the time gave him answers: “Vague but exciting.” More than 30 years later, the World Wide Web connects 4.6 billion people. Read more about the auction sale here.

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