Economy / Global

Over 0.50m foreign tourists arrive in Sri Lanka

Over 0.50m foreign tourists arrive in Sri Lanka

Over 500,000 foreign tourists have arrived in Sri Lanka by March 14 this year, the latest statistics by the Sri Lanka Tourism Development Authority (SLTDA) shows. The SLTDA data released on Monday showed that 517,808 tourists have arrived in Sri Lanka in 2024, noting that it took Sri Lanka five mo


Oil prices edge down as Russia lifts supplies

Oil prices edge down as Russia lifts supplies

Oil prices edged down early on Tuesday after gaining in the previous trading session, due in part to the prospect of rising supply from Russia as well as the possibility of slower-than-expected downstream demand in sectors such as jet fuel. The Brent crude oil futures contract for May delivery sli

Oil dips on profit taking after price crosses $85

Oil dips on profit taking after price crosses $85

Oil prices edged lower on Friday but were on track to gain nearly 4 per cent for the week as sharp declines in US crude and fuel inventories, drone strikes on Russian refineries and a rise in energy demand forecasts buoyed prices. Brent crude oil futures for May fell 41 cents, or 0.5 per cent, to

Indian banks halt silver imports

Indian banks halt silver imports

India's banks have stopped silver imports after private traders bought large volumes of the precious metal from the United Arab Emirates to benefit from a lower duty, a total of five dealers and industry officials said. India, the world's biggest silver consumer, imposes a 15 per cent import duty

Pakistan to ask for new, longer-term bailout during IMF review

Pakistan to ask for new, longer-term bailout during IMF review

The International Monetary Fund (IMF) will hold a second and last review of Pakistan's $3 billion stand-by arrangement (SBA)this week, the finance ministry and the IMF said on Wednesday, during which the South Asian nation will ask for a new longer-term bailout. The four-day review begins on Thurs

Economists upgrade Singapore 2024 growth forecast, survey shows

Economists upgrade Singapore 2024 growth forecast, survey shows

Economists have upgraded Singapore's 2024 growth forecast, according to a survey by the country's central bank published on Wednesday, with better-than-expected external growth seen as the top upside driver for the economy, reports Reuters. The median forecast of 23 economists surveyed by the Mone

As Argentina food prices soar, more people scavenge to survive

As Argentina food prices soar, more people scavenge to survive

Sandra Boluch, a fruit and vegetable seller in Buenos Aires, is seeing a worrying trend as inflation soars over 250 per cent: sliding sales and more people scavenging for what she throws away, hoping to find enough for a meal. The South American country is going through its worst economic crisis i

Argentina launches $65b bond swap to ease 2024 debt load

Argentina launches $65b bond swap to ease 2024 debt load

Argentina's government launched a huge voluntary debt swap on Monday of peso and some dollar-linked instruments set to mature in 2024, a bid to push back repayments amid a major economic crisis hammering the South American country. The debt, which includes 15 different instruments with a total val

BOJ chief Ueda slightly tones down optimism on economy

BOJ chief Ueda slightly tones down optimism on economy

Bank of Japan Governor Kazuo Ueda said on Tuesday the economy was recovering but also showing some signs of weakness, offering a slightly bleaker assessment than in January in a nod to a recent batch of soft data on consumption. The remarks come ahead of the central bank’s policy meeting nex

Fed gets another reason not to rush on rate cuts

Fed gets another reason not to rush on rate cuts

Federal Reserve policymakers weighing when to start interest-rate cuts got another reason Friday to sit tight for now, after a government report showed jobs growth surged in February but the overall labour market continued to show signs of cooling. Employers added a robust 275,000 jobs last month,

IMF’s Georgieva open to 2nd term if nominated

IMF’s Georgieva open to 2nd term if nominated

International Monetary Fund chief Kristalina Georgieva said she would be honored to serve a second five-year term at the helm of the global lender, and had been assured there was a strong support for her candidacy among European IMF members and beyond. Georgieva, a Bulgarian economist whose curren