Stock markets and oil prices slumped Monday on the developing situation that lockdowns in China aimed toward preventing a worsening Covid outbreak may want to in addition damage an international economic system battling much years-high inflation. The losses extended the remaining week’s promote-off triggered with the aid of Federal Reserve boss Jerome Powell indicating that … Read more
Sri Lanka’s President Gotabaya Rajapaksa has appointed a brand new 17-member cabinet, but it does not encompass members of his own family who had been dropped as protests erupted over the authorities’ dealing with of a devastating economic crisis. The president’s elder brother, Mahinda Rajapaksa, but remains the high minister. The island state of 22 … Read more
Doctors in Sri Lanka report that hospitals are running out of crucial medications and supplies as the country’s economic situation intensifies. They fear a public health disaster if foreign assistance does not arrive quickly. “Day by day, resources are depleting. If we reach zero, I’m not sure what would happen,” Dr Gnanasekaram worries. As secretary … Read more
COLOMBO – Sri Lanka is turning off its street lights to save electricity, a minister said on Thursday, as its worst economic crisis in decades brought more power cuts and gloom to its main stock market, triggering a halt in trade as prices slid. The nation of 22 million people is struggling with rolling power … Read more
GENEVA: The world is spending nowhere near enough to revive the fight against tuberculosis after the Covid-19 crisis wiped out years of progress, the WHO said Monday. Ahead of World Tuberculosis Day on Thursday, the World Health Organization said global spending on TB diagnostics, treatments and prevention in 2020 was less than half of the global target … Read more
COLOMBO: Sri Lanka’s public transport was crippled on Wednesday as buses ran out of diesel, officials said as the country’s foreign exchange crisis worsened with no dollars to import fuel. The Private Bus Owners’ Association said they were able to operate only about a quarter of their fleet of 20,000 vehicles, while drivers reported queuing for … Read more
BEIRUT: Once the economy’s crown jewel, Lebanon’s banks are shutting branches and laying off employees in droves, resizing to the bleak reality of a crisis they are widely blamed for. Before the onset in 2019 of a financial collapse deemed one of the world’s worst since the 1850s by the World Bank, the small Mediterranean … Read more
Pakistan has strongly called for unfreezing Afghanistan’s financial reserves to revive its war-battered economy and to save the lives of millions of suffering Afghans. Speaking at the United Nations Security Council (UNSC), Pakistan’s Permanent Representative to the UN, Munir Akram, said there is no legal justification for depriving Afghan people of their national assets. Read … Read more
Ruling Pakistan Tehreek-e-Insaf (PTI) leader Pervez Khattak is regarded as a shrewd politician, who has remained part of almost every provincial government. He has progressed from the position of a district nazim. He served as a provincial minister before being elected as Khyber Pakhtunkhwa (KP) chief minister in 2013. After the 2018 polls, he wanted … Read more
India and China have been embroiled in a border crisis in the mountainous region of Ladakh for nearly two years. It began in May 2020, when Chinese troops made incursions into territory controlled by India, and it reached a peak that June with deadly clashes that killed 20 Indian soldiers and four Chinese soldiers, writes … Read more
BEIRUT: Lebanon is mired in an economic crisis branded by the World Bank as one of the worst in modern times, but officials are yet to strike an international bailout deal. The financial meltdown began in 2019, and Lebanon defaulted on its debt last year. Politicians have failed to enact significant reforms to rescue the Mediterranean … Read more
International ratings agency Fitch downgraded cash-strapped Sri Lanka on Saturday by one notch to ‘CC’ due to mounting fears of a sovereign default on its $26 billion foreign debt. The downgrade came a day after Sri Lanka reported a 1.5 per cent contraction in the third quarter of this year, as a foreign exchange crisis … Read more
PARIS: The coronavirus is once again disrupting global sport, forcing the cancellation of English Premier League matches and the scrapping of a one-day cricket series. AFP Sport looks at the state of play around the world as authorities scramble to cope with the surging pandemic. Football Five of the 10 Premier League matches scheduled for … Read more
KARACHI: The cooling down of consumer spending, and reduced shipping congestion will result in global trade growing by 5.4 per cent in 2022, an Euler Hermes Global Trade report showed. While there is a risk of a double-dip in the first quarter of 2022, Euler Hermes expects a normalisation of international trade flows in volume … Read more
KARACHI: The Pakistan Yarn Merchants Association (PYMA) officials have expressed concern over the increase in the interest rates by the State Bank of Pakistan (SBP), despite the demands of the business community. They said the central bank has increased the interest rates by 150 basis points, and the news is circulating for another increase in … Read more
BEIJING: The Chinese city of Chengdu has announced measures to make it easier for developers to sell properties, making it the first to loosen restrictions on the sector that has come under intense pressure following a debt crackdown by Beijing. The announcement comes after several real estate companies, led by industry giant China Evergrande, were plunged … Read more
WASHINGTON: The Chinese economy, weighed down by electricity shortages and a vast real estate crisis, has lost its lustre recently, to the point where economists are starting to question its impact on the global growth it has helped drive for more than 20 years. The difficulties of the real estate sector in China triggered by … Read more
BEIJING: Chinese developer Kaisa Group suspended trading in its Hong Kong-listed shares on Friday, raising concerns about a deepening cash flow crisis at the firm, as China’s crucial property sector comes under intense pressure. The announcement came as a liquidity crisis at one of the nation’s biggest property developers, China Evergrande, throws a spotlight on the … Read more
The authorities in Ajman announced that schools across the city can resume in-person classes at 50 percent capacity. According to the media reports, the 50 percent cap applies to both school students and employees. Students and staff must strictly adhere to all Covid safety protocols. The UAE’s Ministry of Education had in February announced that … Read more
PML-N leader Khawaja Saad Rafique has said that if you can not run the government, hand it over to National Disaster Management Authority (NDMA). According to details, PML-N leader Khawaja Saad Rafique while addressing the National Assembly said that you are suffering from a misunderstanding because if you have to create a crisis and the … Read more
Russian President Vladimir Putin said that the recent coronavirus disaster in under the control of the authorities. According to the details, Russian president shared the message to congratulate Christians on the Orthodox Easter. He said that even as the country on Sunday registered a record daily rise in cases of the new virus, the situation … Read more
Prime Minister Imran Khan has vowed to take action against those who are responsible for sugar and wheat price spike after he sees the detailed forensic report of the preliminary findings. On Sunday he tweeted: I await the detailed forensic reports now by the high-powered commission, which will come out on 25 April, before taking … Read more
India faces severe employment crisis as jobless rate in the extremist Modi regime rises to 7.78%, highest in 4 months said Centre for Monitoring Indian Economy. Reuters reported that India faces severe employment crisis as jobless rate in the extremist Modi regime rises to 7.78%. India’s economy expanded at its slowest pace in more than … Read more
