Thursday, 1 July 2021 - Iran’s workers in the country’s expansive Oil and Petrochemical Sectors have announced a nationwide strike, ten days since protesters first took the southern streets. The organizing council said that if their demands for a pay rise and improved working conditions in the oil and refinery facilities aren’t met, more workers are expected to join the thousands who are already on a hiatus or have left their refinery plants altogether. As reported by Iranian media this week, workers from most plants and refineries, predominantly in southern and central Iran, have joined the protests. Although most regular government employees (who are on full benefits and enjoy job security under labour laws) have largely remained on duty. Workers’ Grievances The striking employees are essential to Iran’s fuel and petrochemical sectors. As such, the widespread demonstrations simply underscore the mounting economic load on Iran. This happens as the country remains optimistic the U.S and other European powers will lift the crippling sanctions imposed on Tehran. Thousands of workers have gone on strike in the past week demanding better wages and working conditions at the oil facilities, Iranian media reported Wednesday. The organizing council has reiterated that workers should get a pay rise if they are to keep up with Iran’s skyrocketing inflation, which has peaked at records of 50%. Video footage has appeared on social media showing workers walking off duty in protest. Some honked their cars, while others cheered as they walked the southern dusty roads on their way from the refineries. Currently, workers in Iran's vast energy sector receive between $200 and $300 per month but are now demanding more than $400, alongside other benefits. The workers' strike is being championed under the hashtag "Campaign 1400," which coincides with the year 1400 in Iran's calendar. What Officials from The Islamic Republic Have Said The outgoing Iranian President Hassan Rouhani, speaking to the cabinet, vowed to resolve the grievances of all workers in the oil sector, even as experts predict a severe economic reverberation. Rouhani said the strike was mainly limited to temporary contractors and private construction workers, and the strike is unlikely to hurt Iran's oil production. He pointed to the National Iranian Oil Company, where no workers have gone on strike yet. The over 200,000 workers in the state-owned corporation are, however, on wages three times high, entitled to job security, and are protected under the country's labour law. And Rouhani insisted that Iran wouldn't have any problems in the production, transfer, or exportation of oil. The striking workers are pushing to be at par with their counterparts in the state-run oil company, and Rouhani promised Wednesday that all their grievances will be solved. Elsewhere, the Islamic Republic has asked workers to cease their strike, and promised to take a review into their demands in the coming weeks. Tehran’s Nuclear Debacle Iran runs on its oil sector as the primary lifeblood of the economy. However, the sector has been devastated by the sanctions from Washington over Tehran’s nuclear push. The sanctions were imposed on Iran by former U.S President Donald Trump, and have clobbered Iran's economy by slashing oil exports. (Written and edited by: The Decision Maker team)

Thursday, 1 July 2021 - Windows 11 has long been in the pipeline and the rumour mill has been running for the best part of the year. But the Windows 11 operating system has officially been announced by Microsoft and would be grazing machines in the upcoming summer holidays, and has people excited already. And yes, a big part of the Windows 11 ecosystem has been designed to accommodate Android apps, which will strike many users as quite an interesting feature. Speaking to a press call, Panos Panay, Microsoft’s Chief Product Officer, said that the most frequently used Android apps will be installable in the OS environment, and will be accessible via the Start Menu on the machine. A New Era for Microsoft The Windows 11 OS will be officially available for upgrades or purchase later this year, in what will mark a new era for Microsoft’s legacy. That’s because the Windows 11 environment will allow users to use real apps on the OS as opposed to relying on web versions. As such, users will have more freedom to multitask on Microsoft apps such as word, and still open apps like Instagram, Kindle, or TikTok in other windows. The integration of Android apps will also benefit developers as they wouldn’t have to necessarily develop a Windows-only version of the app to reach the marketplace. The OS will be available to new devices going forward, as well as those with compatible Windows 10 systems. Windows 11 Perks So, what does Windows 11 come with? Will it be more functional that Windows 10 and provides an effective user face? Here are what we expect from this new era for Microsoft. The Snap Features The new Windows 11 OS will come with a Snap feature that will allow users to arrange apps in a layout of their liking, including running multiple apps on the screen’s real estate. Users will organize apps to their visual preference using this feature too. Amazon Appstore integration As opposed to using Play Store to access Android apps, Microsoft’s Windows 11 ecosystem comes with the Amazon Appstore integration. And while this comes as a surprise to users, many have wondered how non-native apps will work. But Microsoft has confirmed that Android apps will work both on AMD-based systems and Intel-powered systems. And this operating ecosystem will be perfect for touch-centric workflow apps, although the company hasn’t mentioned whether or not sideloading of apps will be possible. The Bottom Line This move by Microsoft has rendered the Windows 11 OS a more inviting proposal for mobile users. That's because the Windows store landscape will flood with over 1.8 billion Android apps. The tech giant has said the early build of the Operating System will be released in the next few weeks, with its official release scheduled later this year. (Written and edited by: The Decision Maker Team)

The U.S Secretary of State Antony Blinken and Israel’s Foreign Minister Yair Lapid held talks in Rome on Sunday as both governments look to kickstart a new post-Trump-Netanyahu alliance era that aggravated partisan divisions in both countries. With Benjamin Netanyahu leading Israeli opposition and Donald Trump sidelined in Florida, U.S President Joe Biden and new Israeli Prime Minister Naftali Bennett are looking to turn a new page and cement pragmatic diplomacy as opposed to dramatic initiatives witnessed in the past four years. Speaking Sunday in Rome, Lapid acknowledged that mistakes were made during the Trump era that hurt Israel’s long-standing bipartisan relationships. And as they sat down for talks with Blinken, Lapid added that since taking office, he has already held conversations with both Republicans and Democrats, and has reminded them that Israel still shares America’s most basic values; Peace, Freedom, Democracy, and Open Societies. Blinken, on his part, noted that although the U.S and Israel’s governments are relatively new, they will work on prioritizing initiatives that cement both countries’ enduring partnership and friendship. Pointing to the recent achievement that saw a temporary cease-fire between Israeli forces and Gaza militants (Hamas), Blinken said both countries will employ such small steps to revive the dormant peace process that will restore calm between Israel and the Palestinians. The Long Approach to Quench Domestic Unrest As opposed to Trump’s dramatic press conferences, Blinken said the endless cycles of unrest in the Gaza strip would be managed under the radar, with Biden’s “quiet” democracy a way out to paper over domestic divisions. And while the Palestinians will feel aggrieved and point to the decades-long oppression by Israelis, Blinken acknowledged that managing the conflict, as opposed to solving it, may succeed in cooling the unrest. He said that both governments will seek to strengthen the fragile Israel coalition government by eliminating provocations such as those that led to the unrest in the Gaza strip. And as seen when Biden privately urged Netanyahu to wind down the 11-day Israel-Hamas war, the U.S and Israel are looking to work out their differences away from the public. Elsewhere on The Agenda While the move represents a first positive step towards building mutual trust between both countries, the top in Sunday meeting's agenda was how world powers would limit Iran's ability to develop nuclear weapons. In 2018, Trump – backed by Benjamin Netanyahu – withdrew the U.S from Iran’s 2015 accord. Biden, on the other hand, promised to restore and expand the agreement, and he is right on course. The talks are ongoing in Vienna and Israel seems more intent to stay engaged and influence the proceedings too. This is in stark contrast to Netanyahu’s government that openly opposed the deal a few years ago when the Obama administration entered negotiations. Even Naftali Bennett, who is ideologically aligned to Netanyahu, has toned down Iran’s rhetoric and promised to discuss, persuade, and share insights into the Iran nuclear accord talks to help tamp down tensions. (written and edited by: The Decision Maker team)

The U.S military launched airstrikes targeting Iran-backed militias in Syria, in what the Pentagon announced Sunday evening as a retaliatory move for drone attacks on U.S interests in Iraq. In a statement, the Pentagon said that Iran-backed militias have been launching drone attacks against U.S interests in Iraq. The statement – released by Pentagon press secretary John Kirby – added that the airstrikes targeted sites used by the militia to launch drone attacks on U.S facilities, coalition troops, and U.S personnel in Iraq. Kirby said the U.S airstrikes targeted specifically the operational and weaponry storage facilities at two separate locations: one in Syria and the other in Iraq, and both locations lie close to the border between the two countries. Pentagon said the militia have been using both facilities as bases to attack U.S interests using unmanned aerial vehicles (drones). Several Iranian-backed militias, including Kata’ib Sayyid al Shuhada and Kata’ib Hezbollah, have previously used both facilities. U.S military warplanes F-15 and F-16 targeted these facilities that the U.S defense officials say had been used primarily for drone control logistics and launching rockets. Casualties While a U.S official (not authorized to speak publicly) confirmed that all military pilots returned safely, he said it was too early to comment on whether there had been any militias dead or civilian casualties on the ground. However, the British-based Syrian Observatory for Human Rights said early Monday that at least five Iran-backed Iraqi militants were killed, and a few dozen others were seriously wounded in the attack by U.S warplanes. The war monitor, which uses Syrian-based networks of sources to gather information, added that among the targets hit were military positions. U.S Navy Commander Jessica McNulty added Sunday night that the airstrikes hit the intended locations. But SANA, a Syrian state-run news agency, said that the attack had killed one child and wounded three others. U.S officials are yet to disclose the extent of civilian casualties but said assessment is still ongoing. The U.S Moves to Deter Drone Attacks Since January 2021, there have been over 40 attacks against U.S interests in Iraq, a country that hosts over 2500 American troops as part of a U.S-NATO military coalition to fight the Islamic State (ISIS) terrorists. Of the 40 attacks, 14 involved rockets, while the vast majority have been bombing that targeted U.S convoys. In April, Iran-backed militias carried out at least five drone attacks on U.S facilities and coalition personnel. Numerous pro-Iran factions in Iraq who are unhappy about the U.S presence in the country have also claimed responsibility for some of the attacks. The latest airstrike is Biden’s second (since taking office) after he ordered a similar attack in February that was in response to a rocket attack in northern Iraq that killed a U.S contractor and wounded allied forces. The elimination of those targets will degrade the operational capacity of the militia and also deter future attacks. (Written and edited by: The Decision Maker team)

Friday, 25 June 2021 - U.S President Biden will today host his Afghan counterpart, Ghani – who will be flanked by Dr. Abdullah, the chairman of Afghanistan’s High Council for National Reconciliation – ahead of September 11th the U.S and NATO troops withdrawal from the war-ravaged country. In its official statement last Sunday, the White House announced that U.S president Joe Biden will host the Afghan president Ashraf Ghani, alongside the country’s High Council for National Reconciliation, Dr. Abdullah. The Afghan leader will meet Biden on Friday in the White House while facing the cold reality of the end of a 20-years long U.S military presence in Afghanistan. However, the White House in its statement expressed the U.S continued commitment to support the war-torn nation even in the aftermath of September's troop withdrawal. What’s on The Agenda in Today’s Sit-Down President Biden, in April 2021, ordered the departure of U.S forces from Afghanistan. But with Ghani's government under increasing security threat from the Taliban insurgency, the top of his priorities would be getting the U.S to commit to offering his government significant security aid in the aftermaths of troop withdrawal. Among others, we expect the following to be on the agenda: The heightened security threat in Afghanistan may see its leader ask for an extension to the looming September 11th drawdown. But sources cite that it is increasingly unlikely and any extension request will be snuffed. The Taliban’s request for a “genuine Islamic system” through peace talks is expected to feature prominently in the discussion. Biden’s plan to evacuate thousands of Afghans who helped the U.S military in the course of the past two decades will feature. Top on the list is informants and interpreters. The drawdown has coincided with a surge in fights between the Taliban and Afghan security forces, and Dr. Abdullah is expected to highlight a roadmap that will see both sides commit to peaceful means of conflict resolution. What The U.S Has Said Ahead of troop withdrawal from Afghanistan, in what has been American’s longest war that has lasted 20 years since September 11th, 2001, the White House has committed to supporting the Afghan people by providing economic, humanitarian, and diplomatic assistance. On the security issue, the U.S has committed to supporting the vulnerable groups in Afghanistan, including girls, women, and minorities. And to achieve that, a White House official said the U.S will keep up its enduring ties with the Afghan people and will remain engaged with Ghani's government to ensure Afghanistan never becomes a safe haven for terrorists. Taliban’s Demands On the backdrop of the recent surge in violence that has seen the Taliban take control of over 40 more districts, the militants are demanding conditional peace talks, with a “genuine Islamic system” a priority. They want a system that will establish women’s rights in line with Islamic cultural traditions and beliefs. Failure to meet that demand, the Taliban, on evidence of events in recent months, have promised unrelenting violence that continues to siege many areas across the country. Meanwhile, Ghani’s administration has appointed two security ministers in the wake of the dramatic surge in violence. (Written and edited by: The Decision Maker Team)

Friday, 25 June 2021 - European Union leaders have today failed to agree on France and Germany’s proposals for the bloc to hold a summit with Russian President Vladimir Putin. Speaking after the EU's summit in Brussels, Germany’s Angela Merkel said discussions between the bloc’s top officials had failed to bear fruits. She, however, insisted that talks were ongoing and needed EU leaders to take bolder steps if the region is to develop a mutual dialogue format with Russia. The disagreement was mainly because Poland and Baltic nations said a summit will send the wrong message to Russia, even as East-West European ties continue to deteriorate. The Proposal Has Been in The Pipeline Speaking after U.S President Biden met Putin on 16th June in Geneva, Switzerland, French President Emmanuel Macron suggested the EU should restart its diplomatic meetings with the Kremlin to defend the region's interests. The last such fixture was held in 2014 but has been frozen since the Kremlin’s annexation of Crimea later that year. Speaking to the press, Macron wanted the EU to revive the meetings with Russian President Vladimir Putin, in what he termed as a push to defend the interests of the European Union. He further insisted the EU should deploy a dialogue format that will stabilize the region's diplomatic ties with Russia. What Opposing Nations Have Said After yesterday’s late-night talks between all the 27 EU’s top officials held in Brussels, a common ground couldn’t be established as leaders failed to agree on the proposals by Paris and Berlin. And while Germany’s Angela Merkel called on leaders to take bold steps in diplomatic relations with Russia, Poland and Baltic countries expressed their opposition to the plans. Lithuania president Gitanas Nauseda, for instance, said he was opposed to meetings with Russia at any level. Echoed by other leaders, especially from Eastern Europe, Gitanas said the region should be cautious of rewarding the Kremlin with talks before it alters its course. They further argued that both Berlin and Paris blindsided their European counterparts by tabling last-minute proposals of reviving annual summits with Russia. And while officials from Moscow have indicated their willingness to resume such talks, it is understood that Putin would prefer to deal bilaterally with member states. What’s Next? Friday's snug in Brussels comes barely a week after the U.S and NATO resolved to revamp its military and revisit strategies that could see EU’s rogue eastern neighbour – Russia – kept in check. Moscow has been at odds with several EU heavyweights after sending troops on the Ukrainian border, and the last year has seen a number of espionage scandals levelled against Russia, with some leading to diplomatic expulsions. And while Merkel suggested talks are ongoing, officials in Brussels have admitted that the EU's relations with the Kremlin are set to deteriorate even further in the coming days. (Written end edited by: The Decision Maker Team)

Monday, 21 June 2021 - Builder sentiment dropped to a 10-month low in June. This is the steepest fall since August 2020. Key Takeaways: The overall builder sentiment remains high nationally (in historical terms), but the West and Northeast took the biggest hit. Higher building material costs, scarcity of lumber stemming from a decline in softwood availability, as well as shipment challenges, drove down builder sentiment, that's according to the National Association of Home Builders (NAHB) The NAHB’s monthly index shows that homebuilder sentiment has been pushed down 2 points to 81, down from its recent peak of 90, November last year. The hiking costs of building materials and the declining supply of lumber have led to a hike in prices for new homes. This has led to side-lining home buyers, which is subsequently a barrier for home builders to access loans. The National Association of Home Builders (NAHB) index has dropped by 2 points to 81, and the buyer traffic also nosedived 2 points to 71. And while any value above 50 is considered a positive indicator, the drop in builder sentiment is the steepest in 10 years. Construction Material Costs and Shipment Challenge According to the NAHB chairperson Chuck Fowke, the drop is caused by higher costs of construction materials. Fowke also cited the declining availability of softwood as the reason new home prices have gone up. Therefore, the knock-on effect is that the higher budgets have soared beyond the reach of prospective buyers. Overall, homebuilders have read the caution in the air and slowed down the pace of construction of new homes. Lumber prices, for instance, have dropped by 10% from their last peak, but these prices are still over 300% more than their average in the last decade. Other essential construction materials are still going at higher prices, and, worse still, home builders are still experiencing delays in the delivery. All these are attributed to the global pandemic-induced shortages from the supply chain disruptions. Homebuyers Bear the Burden The overall higher prices of construction, therefore, mean that builders pass on the cost burden to the buyers. In April, for example, the price of a single-family unit was up an annualized 20%, according to the U.S Census Bureau. Such prices are likely to side-line buyers and as well lead to appraisal issues for small-scale builders who comprise 70% of the homebuilding market in the U.S. The knock-on effect is that home builders are facing difficulties in acquiring bank loans because they lack appraisals. And in case they do, home sale prices come at lower figures than the cost of construction. This means that home builders would either need more equity or abandon the loan altogether. So, What Is the Overall Picture? On a national level overall, current sales condition has been pushed down 2 points to 86. Moreover, sales expectation index in the next couple of months has gone down 2 points to 79, while buyer traffic has taken a 2-point hit to 71. (Written and edited by: The Decision Maker Team)

Monday, 21 June 2021 - The port of Singapore, the world's second-largest after China's Shanghai Port, has reported Friday a container growth of 4.6% in the first five months of 2021, and the city-state continues to be an attractive proposition for new companies looking to set up operations. The port of Singapore has bounced back strongly despite the pandemic. The past few months have seen port closures overseas, global container shortages, and shipment delays that led to a 0.9% fall in containers at the port last year. And despite the significant growth, five more maritime companies have either established new firms or expanded the existing operations since the start of 2021. Bounce Back from The Pandemic Slowdown Speaking at the launch of the Smart Port Challenge 2021, Singapore’s State Minister for Transport, Chee Hong Tat, revealed that the port had posted a 4.6% growth between January and May 2021, a steep rise that dwarfs the figure posted the same period last year, as well as the 3.9% of 2019 pre-pandemic. On the back of the 0.9% drop in container volumes posted in 2020, this year's growth is encouraging news. The port has bounced back from the global pandemic-induced slowdown, and the first five months of 2021 have seen it handle more cargo than it did in the same period last year. New Companies Are Setting Up According to Chee Hong Tat, neither the Covid-19 pandemic nor the recent Suez Canal backlog prevented the port of Singapore from expanding its operations. And the past few months have seen the ports Maritime sector grow tremendously. Late last year alone saw 11 new shipping firms move into Singapore, with at least eight maritime companies expanding their operations. Furthermore, the investment pipeline didn't stop there. In the five months between January and May 2021, five new maritime companies have either expanded or established new operations in the city-state. And according to Minster Chee, the Maritime and Port Authority of Singapore (MPA) has offered more support to firms looking to start operations in the city. What’s Next The minister thanked the port workers association for their resilience during the past few months, especially in the face of the pandemic and most recently, the Suez Canal incident. And speaking at the virtual launch of the Smart Port Challenge, Chee Hong Tat further called for everyone to take advantage of the momentum to build stronger capabilities and to position the port for further growth. And in doing so, he pointed out innovative approaches that would enable the port to handle all cargo in a 100% contactless manner. He hailed the technological solutions such as the provision of telemedicine to seafarers at the height of the pandemic as a foundation to build on to ensure the port of Singapore expands its maritime sector to unrivalled levels. And pointing to the city's support, Chee said that MPA has set aside $10 million in funds to steer the growth of the port’s maritime tech firms. (Written and edited by: The Decision Maker Team)

Monday, 21 June 2021 - Even as the Federal Reserve acknowledged Wednesday the post-pandemic booming economy, several borrowers can consider themselves lucky in the face of the creeping inflation. Car prices, beef, and airplane tickets are hiking at an astonishing pace, and economics and consumers alike are predicting the start of an inflationary period. And while sceptics are suggesting the price hikes as a temporary blip stemming from the pandemic-induced mismatch and disruption of supply and demand, signs are strife that inflation could be creeping in. But why so? The Continuous Price Upticks Month after month, prices have continued to soar for a broader variety of goods and services. And while this is just the beginning, particular groups of the demographic are primed to benefit more if such price upticks continue. Such groups include local governments, businesses, corporations, and consumers that hold fixed-rate debts. According to Kent Smetters, who is the faculty director of the Penn Wharton Budget Model – an institution that monitors policy proposals and their impact on the economy – inflation in such circumstances could signal a massive wealth transfer from lenders to borrowers. Kent also says that inflation will have a massive impact on people with wealth (lenders) while borrowers will discount reliefs on goods and services they pay for. How the Model Works With inflation, consumer assets would soar while their liabilities would go down. This means that as prices rise, companies employ more workers to help in the manufacture more goods to take advantage of the hiking prices. Wage increases mean companies would charge more for their products, and the workers would subsequently seek higher pay. The ensuing spiral effect means a unit of money would be less valuable than it was previously. And this means less interest to lenders because borrowers who are tied on fixed-rate loans prior to the inflationary period are only obligated to repay what they initially agreed upon. And according to Kent, the expected inflation creeps to the US economy post-pandemic is a blessing to such consumer loans. And Who Is Expected to Benefit? This kind of dynamic hasn’t been seen in the U.S economy since the 1970s. And the lucky groups are going to be repaying loans with less purchasing power than when they borrowed. Therefore, the luck group includes: Consumer loans with fixed interest rates. Federal Student loans (which have fixed interest rates for their lifetime). In context, a borrower would theoretically earn more because wages rise with inflation. However, the amount of money owed in student loans remains the same. Private Student loans with fixed interest rates. Fixed-rate mortgage loans. The Bottom Line The expected post-pandemic inflation isn’t entirely good news to the borrowers either. This is because anyone taking out a fixed interest rate loan now will probably repay more in interest that has inflation factored in it. Moreover, the economic volatility that comes with inflation might lead to borrowers facing risks of unemployment. (Written and edited by: The Decision Maker Team)

Wednesday, 16 June 2021 - America’s biggest bank, JPMorgan, is championing efforts to stop racial bias in home appraisals in the country - Richard Oyamo reports. Calling for the much-needed diversity in the appraisal sector, the bank has thrown its weight into new commitments to fight America’s housing inequality, with the focus on promoting equitable home valuations. And for the first time, the bank has today outlined its strategic backing plans for specific legislations aimed at fighting appraisal bias. Beyond Property Appraisals The bank has promised to eliminate the barriers that make it harder for Latinx and Black households to: Access affordable housing facilities. Build wealth. Buy homes in America. Heather Higginbottom, who is JPMorgan’s Chase Policy Centre as well the chairperson of global philanthropy, attributed the racial appraisal bias to the systemic barriers in housing that have existed for as long as we can remember. JPMorgan’s $30 Billion Pledge to Ease Racial Inequality in Housing This year, the bank has promised a $400 million philanthropic commitment that would go towards low-interest loans, affordable housing organizations, as well as equity and grants to non-profit organizations. This commitment is part of the bank’s $30 billion support (announced October 2020) to ease racial inequalities. But that is just the gist of it. According to recent innovation studies conducted to minimize the racial wealth gap, discrimination, especially in the housing industry is the chief contributor to America's enormous wealth gap. The study highlighted that owning a home needs the buyer to save for a down payment, and having one is the easiest way to build wealth. In what the Brookings Institution report refers to as a “$156 billion problem,” houses in Latinx and majority-Black suburbs are, on average, valued at $48,000 less. This valuation discrepancy represents 23% less than homes in neighbourhoods with few or no black residents. This sentiment is also echoed by Michael Hsu, Comptroller of the Currency, appraisal bias and discrimination are the biggest contributors to housing valuation inequality, which adversely affects the basic foundation of building wealth for minority households. He reiterates that the impact has been amplified enough and can’t be ignored anymore. Homeownership in America According to the latest Urban Institute analysis, homeownership for White Americans today is at 72%, compared to 42% for Black Americans. Incredibly, the 30% gap is getting worse as it eclipses the figures for 1968, a time when discrimination in housing was legal. JPMorgan has called an end to today's worsening home market conditions, citing the rising prices, house shortages, and the existing barriers to down payment access: issues that keep homeownership out of reach for Latinx and Black Americans, as well low-income families. Is Revamping the Appraisal Industry the Way Out? JPMorgan has called for reforms in the appraisal sector to stop the racial bias in home and property valuations. To highlight the problem, only 2% of appraisers in the country are Black, and some minority groups conceal their identity to have their homes valued favourably. Some of the reforms JPMorgan is calling for include: Creation of an anti-bias training requirement for all appraisers. Establishment of a new national home valuation standard and a platform for equal access to valuation data. Rulebook reform to ensure appraisers utilize more data and less judgment. In championing such efforts, JPMorgan has invested $1 million in the Brookings Institution and Ashoka to fund innovative studies as to how the appraisal gap can be narrowed down. The bank is also offering $50,000 to Black and minority women who feel their homes were undervalued. (Written and edited by: Richard Oyamo for The Decision Maker)

Monday, 14 June 2021 - As the NATO Summit gets underway Monday 14th, Greece’s Prime Minister, Kyriakos Mitsotakis, is expected to have a much-anticipated sit-down with his Turkish counterpart, Tayyip Erdogan. As revealed by a source close to the Greek government, the meeting will take place on the sidelines of the NATO summit, and it is expected to have at least an aide from each side. And according to information obtained from officials involved in the preparation of the face-to-face meeting, both sides have expressed a willingness to promote a positive agenda, and expectations are high as to the outcome of their sit-down. But What’s the Sticking Point in The Greece-Turkey Tensions? Greece and Turkey are all NATO members bound by the EU's territorial law and the UN Law of the Sea (UNCLOS) but they have also considered themselves traditionally long-standing rivals. The past few months have, however, seen tensions rise, with both countries mobilizing warplanes and navies in the Mediterranean Sea to antagonize one another. But why are the warheads and the heightened opposition against each other? Greece and Turkey have been marred in tension that is rooted in the exploration of offshore natural gas in a territorial island off the coast of Cyprus. And this isn’t the first time as this island has been a long-standing source of conflict between the two countries. Nonetheless, officials have stated that both sides are willing to keep the tensions at a minimum, and the face-to-face setting is the right move to elicit a franker exchange of ideas with the aim of de-escalation. And while there aren’t any guarantees yet, a more positive outcome is expected especially as the meeting is scheduled after Erdogan meets President Biden. The Word from Both Camps Is: Greece’s PM Open to A Positive Agenda with Turkey On Friday, June 11th, in an EU Mediterranean countries’ (EU-Med7) meeting held in Athens, Greece’s Prime Minister reiterated his stance to push for positive talks when he meets his Turkish counterpart today Monday. However, he said his willingness was subject to the de-escalation being conducted in a gradual, reversible, proportionate manner, and in a way that respects the EU’s territorial law act, as well as that stipulated in the UN’s Law of the Sea (UNCLOS). Furthermore, he stressed that he was willing to undertake any talks on the condition that Turkey will be ready to engage in constructive dialogue and agree to measures that respect the laid down international law. And with regards to the disputed Cyprus island, he ruled out the likelihood of that discussion in today's meeting. The Word from Turkey's Foreign Minister Late last month, Greece PM had a meeting with Turkey’s Foreign Minister, in what officials described as cordial. Sources close to both camps said each side expressed a willingness to promote efforts towards de-escalation. And ahead of their meeting in Brussels, it is expected both sides will initiate a process aimed at normalizing the situation in the short-term, and hopefully engage EU and the UN's multi-panel member to resolve the disputed island issue for the long term. (Written and edited by: The Decision Maker team)

Monday, 14 June 2021 - The 47th edition of the G7 Summit that was held in Cornwall, the UK between 11th and 13th June finally wrapped up. The G7 nations released a joint statement in the form of a Summit Communique that outlined their deliberations and subsequent commitments going forward. And while the communique essentially reiterated the G7 nations' position to tackle the pandemic, mitigate climate change, and revitalize economic recoveries, they affirmed their commitment to multilateralism and also alluded to a cold war against China. So, if you were caught up somewhere and inadvertently missed the proceedings, here are the key talking points from this year's G7 Summit: The Ongoing Covid-19 Pandemic In their communique, the leaders acknowledged the impacts of the pandemic to the societies globally and pledged to take tangible measures that will include: Bolstering global health security by strengthening and supporting institutions such as the World Health Organization (WHO). Invest in people and tackle inequalities as the pandemic impacted societies unevenly. Ending the pandemic by 2022 by donating safe and effective vaccines enough to vaccinate at least 60% of the world’s population. In this regard, they recognized the necessity to speed up vaccine production and delivery and subsequently committed to sharing 870 million doses by the year's end. Supporting the COVAX and the ACT – Accelerator programs with $8.6 billion as a Global Responsibility and International Action, and as well boost the supply of PPEs, test kits, and raw materials. Post-Pandemic Economic Recovery and Trade The G7 leaders stated that they had donated over $12 trillion in liquidity measures and fiscal support to help address financial challenges, and even pledged more. They endorsed and committed to a fair tax system globally with a ceiling of 15% minimum tax, aimed at levelling the playing field that is expected to raise more in investment revenues. Suspending or entirely getting rid of unnecessary trade restrictions to ease supply chains for industries globally. The group pledged to enhance the efficiency of the multilateral trade system by reforming the rulebook of the World Trade Organization. Commitment to Democracy and Open Societies The G7 leaders referenced the need to restore values in our increasingly authoritarian regimes. They pledged support for models that support open societies, while strongly condemning bad autocracies. They committed to strengthen the G7 Rapid Response Mechanism to compete against cyber-attacks and threats that undermine democracy. And in this regard accused China of disinformation and promotion of unfair trade policies that threatened transparency. They called on China to respect the fundamental principles of human rights and freedoms, especially the autonomy in Hongkong, despite the existence of the Sino-British Joint Declaration. And as per the communique, the leaders emphasized the need for a coordinated global pressure against China. The G7 communique also called on Russia to stop engaging in destabilizing behavior that malign existing democracies as seen in Ukraine. The situations in North Korea, Myanmar, Afghanistan, and Ethiopia are also featured in their deliberations. Climate Change The issue of Global Warming has been a sticking point and, as you can imagine, featured prominently in the discussion. Climate change and its impacts globally was discussed stressed that 2021 should be the turning point for the planet. The Bottom Line With the UK, Canada, Japan, EU, and now the United States back at the table, leaders pledged to quit the nationalistic and unilateralism that we have witnessed in the past four years of the Trump administration and work together towards a common global goal of tackling the pandemic, climate change and creating a suitable environment for the post-pandemic recovery. (Written and edited by: The Decision Maker team)