Sri Lanka has been informed that a debt-restructuring agreement with creditor nations has been reached but is yet to receive a letter of confirmation from the official creditor committee. Sri Lanka, mired in its worst financial crisis in decades, has been trying to reach restructuring deals with c
A majority of Britons support rejoining the European Union's single market even though that would mean the restoration of the free movement of workers from the bloc, according to a poll published on Wednesday. Curbing immigration was a key reason Britons voted to leave the European Union in 2016.
Argentina's President-elect Javier Milei said on Friday that the closure of the country's central bank, a signature campaign pledge, was a "non-negotiable matter," according to a statement from his office posted on social media platform X. The comments, in response to what he called "false rumours
Germany’s financial firms may be well capitalised now but face challenges ranging from rising interest expenditure and weak loan demand to unrealised losses, Bundesbank Vice President Claudia Buch said on Wednesday. Interest rates have risen at the fastest pace on record in the past year and
=Sri Lanka plans is expected to sign the Sri Lanka-Thailand Free Trade Agreement (FTA) in February 2024, the country’s cabinet spokesperson Bandula Gunawardena told reporters on Tuesday. At a press conference, Gunawardena said the agreement will be signed following the completion of negotiat
Argentina's libertarian President-elect Javier Milei has won a closely fought election. Now comes the hard part: dealing with economic crises. Inflation is at 143 per cent, net reserves of foreign currency are deep in the red, savers are ditching the peso, and a recession is looming - if not
Japan's big employers are set to follow this year's bumper pay hikes with another round in 2024, which are expected to help lift household spending and give the central bank the conditions it needs to finally roll back massive monetary stimulus. Early indications from businesses, unions and econom
The IMF said on Wednesday it had reached a staff-level agreement with Pakistan on the first review of a $3 billion bailout, which will unlock $700 million in funding for the country. Ahead of the bailout in July, Pakistan had to undertake a slew of measures demanded by the International Mone
Moody's on Friday lowered its outlook on the US credit rating to "negative" from "stable" citing large fiscal deficits and a decline in debt affordability, a move that drew immediate criticism from President Joe Biden's administration. The move follows a rating downgrade of the sovereign by anothe
China’s real GDP is projected to grow by 5.4 per cent in 2023, an International Monetary Fund (IMF) statement said on Tuesday. “The Chinese economy is on track to meet the government’s 2023 growth target, reflecting a strong post-COVID recovery,” said the statement made by
Countries moved a step closer on Saturday to getting a fund off the ground to help poor states damaged by climate disasters, despite reservations from developing nations and the United States. The deal to create a "loss and damage" fund was hailed as a breakthrough for developing country neg
The European Central Bank is ready to leave interest rates unchanged Thursday for the first time in over a year as the Israel-Hamas war spreads even more gloom over already downbeat prospects for Europe's economy. It would be the bank's first meeting with no change after a torrid pace of 10 straig
Iowa-based Vermeer, a 4,000-employee maker of industrial and farm machinery, opened a plant there two decades ago -- and Andringa, the company's president and CEO, frequently visited what many considered the world's premier fast-growing, future-oriented economy. But the mood of Vermeer and many oth
