Science historians argue that the traces of Khaldun's theories were found in the works of world-famous intellectuals like Karl Marx, Adam Smith and David Ricardo.
Hit by US sanctions, Iran desperately needs partners to sell its oil, while China wants to increase its political and economic clout across the Middle East.
The country recorded positive growth during the pandemic, while other countries, including the developed ones, experienced a deep economic crisis.
Brussels sells the deal as “a success”, but critics say China has got what it wanted from the EU despite Beijing's despicable human rights records.
A 1.8 trillion euro package to finance the EU budget and coronavirus recovery plan requires unanimous approval but a clause linking funds to respect for ‘democratic norms’ has become a barrier.
The duo has been honoured for discoveries that "benefitted sellers, buyers and taxpayers around the world" and includes work on goods and services difficult to sell in traditional ways such as radio frequencies.
Surveys have also shown consumer confidence, manufacturing and services industries stabilising albeit at low levels in May, indicating the downturn triggered by Covid-19 pandemic was bottoming.
One senior official in the US state of Texas said that he would rather die than see the American economy suffer. Others across the world have hinted they would like to see things return to normal sooner rather than later.
Abhijit Banerjee, Esther Duflo and Michael Kremer bag coveted prize for pioneering new ways to alleviate global poverty, the award-giving academy says.
US President Donald Trump says he would be raising planned tariffs on $300 billion in Chinese goods from 10 percent to 15 percent.
Also boosting investor sentiments were comments from China that the Washington and Beijing held discussions on trade overnight and would talk again the next two weeks.
Indian Prime Minister Narendra Modi's former economic advisor has rubbished India's claim to the fastest growing economy in the world - but that's just the tip of the iceberg.
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