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Search results for: global

Sri Lanka central bank raises rates to 21-year high

Sri Lanka central bank raises rates to 21-year high

-- 2022-07-07 13:50:52

The Central Bank of Sri Lanka (CBSL) raised its key rates by a full percentage point on Thursday to tackle record high domestic inflation and to contain any build-up of underlying demand, it said. Th...

Sri Lanka seeks credit support from Russia to import fuel

Sri Lanka seeks credit support from Russia to import fuel

-- 2022-07-06 19:22:57

Sri Lanka's president on Wednesday said he urged Russian leader Vladimir Putin to help his cash-strapped island nation import fuel as it faces its worst economic crisis in seven decades. Short of for...

Bank of England tells lenders to brace for economic storm

Bank of England tells lenders to brace for economic storm

-- 2022-07-06 11:56:02

The Bank of England warned on Tuesday that the economic outlook for Britain and the world had darkened and told banks to ramp up capital buffers to ensure they can weather the storm, reports Reuters....

Global shares mixed as inflation, energy supplies weigh on growth 

Global shares mixed as inflation, energy supplies weigh on growth 

-- 2022-07-05 17:48:15

Shares declined Tuesday in Europe after an upbeat session in Asia, while Wall Street futures slipped ahead of the reopening of US markets from the Independence Day holiday.  Benchmarks also fell...

Ukraine needs $750 billion for recovery plan, prime minister says

Ukraine needs $750 billion for recovery plan, prime minister says

-- 2022-07-05 13:26:41

Ukraine needs $750 billion for a three-stage recovery plan in the wake of Russia's invasion, its prime minister said on Monday. Denys Shmygal also told the Ukraine Recovery Conference hosted by Switz...

Inflation at 24-yr high adds to strains in South Korea's economy

Inflation at 24-yr high adds to strains in South Korea's economy

-- 2022-07-05 11:32:29

South Korea's inflation last month hit the highest since the Asian financial crisis more than two decades ago, adding to signs of building strains on the open, trade-dependent economy and fanning expe...

Indian rupee tumbles to record low against dollar

Indian rupee tumbles to record low against dollar

-- 2022-07-04 20:15:16

India is trying to ‘address volatility’ in the Indian rupee that has tumbled to record lows against the dollar in recent weeks, a government official said on Monday, amid concerns of a wid...

Sri Lankans cut number of meals as inflation rate crosses 50pc

Sri Lankans cut number of meals as inflation rate crosses 50pc

-- 2022-07-01 20:32:16

With an out of work husband, housewife Sujeewa Nelum Perera is all too familiar with the struggle of feeding a family of four in Sri Lanka and has been forced to cut down on the number of meals they c...

Martin Raiser appointed vice president of World Bank for South Asia

Martin Raiser appointed vice president of World Bank for South Asia

-- 2022-07-01 15:48:43

The World Bank has appointed Martin Raiser as its vice president for the South Asia Region. He is an economist and development expert with almost two decades of experience at the World Bank Group, A...

Some IMF staff work 'unduly influenced' despite strong safeguards

Some IMF staff work 'unduly influenced' despite strong safeguards

-- 2022-07-01 13:11:21

Nearly 20 per cent of International Monetary Fund staff say their work has been "unduly influenced" by supervisors, according to an internal survey released on Thursday as part of a review of data int...

US stocks see worst first half drop in more than 50 years

US stocks see worst first half drop in more than 50 years

-- 2022-07-01 12:01:42

US stocks have seen their worst first half of a year since 1970, as concerns grow over how steps to curb inflation will affect economic growth. In the last six months, the benchmark S&amp...

Meta slashes hiring plans

Meta slashes hiring plans

-- 2022-07-01 10:15:18

Facebook-owner Meta Platforms has cut plans to hire engineers by at least 30% this year, CEO Mark Zuckerberg told employees on Thursday, as he warned them to brace for a deep economic downturn, report...

Sri Lanka makes progress towards IMF credit

Sri Lanka makes progress towards IMF credit

-- 2022-06-30 15:50:08

The International Monetary Fund reported constructive talks with Sri Lankan authorities on Thursday, raising hopes it could soon grant preliminary approval for a credit facility to alleviate a crisis...

War in Ukraine raises global shipping costs, stifles trade: UNCTAD

War in Ukraine raises global shipping costs, stifles trade: UNCTAD

FE ONLINE REPORT 2022-06-30 14:45:26

The UN Conference on Trade and Development (UNCTAD) says the war in the Ukraine is stifling trade and logistics of the country and the Black Sea region, increasing global vessel demand and the cost of...

Hong Kong: Why business is not giving up on the Asian financial hub

Hong Kong: Why business is not giving up on the Asian financial hub

-- 2022-06-29 12:26:27

On a cloudy June day, the Jumbo Floating Restaurant was towed out of Hong Kong's Aberdeen harbour. The giant six-storey structure - in the shape of a Chinese imperial palace - crept past...

Airbnb makes ban on parties permanent

Airbnb makes ban on parties permanent

-- 2022-06-29 10:17:19

Airbnb said on Tuesday it will make permanent its ban on parties in homes listed on its platform after seeing a sharp drop in reports of unauthorised gatherings since the prohibition was put in place...

G7 leaders vow to hurt Russia economically

G7 leaders vow to hurt Russia economically

-- 2022-06-28 18:41:54

Leaders of the world’s wealthiest democracies struck a united stance to support Ukraine for “as long as it takes” as Russia’s invasion grinds on, and said they would explore fa...

Sri Lankan economy contracts 1.6pc in January to March quarter

Sri Lankan economy contracts 1.6pc in January to March quarter

-- 2022-06-28 18:34:20

Sri Lanka's economy contracted 1.6 per cent in the January to March quarter versus the same period a year earlier, data showed on Tuesday, and is expected to shrink even more in the current quarter am...

Global crop problems point to years of high food prices

Global crop problems point to years of high food prices

-- 2022-06-28 18:19:43

Eric Broten had planned to sow about 5,000 acres of corn this year on his farm in North Dakota, but persistent springtime rains limited him to just 3,500 in a state where a quarter or more of the plan...

G7 nations debating price cap for Russian oil to curb Moscow's revenue

G7 nations debating price cap for Russian oil to curb Moscow's revenue

-- 2022-06-27 22:52:56

Group of Seven nations have engaged in a debate to put a global price cap for Russian oil that would curb Moscow's energy revenues and potentially limit its ability to fund its invasion of Ukraine, ac...

Taiwan, United States to hold trade talks today

Taiwan, United States to hold trade talks today

-- 2022-06-27 10:20:21

Taiwan and the United States will hold trade talks on Monday under a newly agreed framework, the office of the US Trade Representative said. Deputy US Trade Representative Sarah Bianchi will meet the...

G7 aims to raise $600 billion to counter China's Belt and Road

G7 aims to raise $600 billion to counter China's Belt and Road

-- 2022-06-27 10:14:29

Group of Seven leaders on Sunday pledged to raise $600 billion in private and public funds over five years to finance needed infrastructure in developing countries and counter China's older, multitril...

World shares gain as investors shrug off downbeat data

World shares gain as investors shrug off downbeat data

-- 2022-06-24 20:27:26

Shares were higher in Europe and Asia on Friday despite data suggesting some economies are slowing, according to AP. US futures also advanced after a rally Thursday on Wall Street, where the market i...

German minister warns of industry shutdown amid gas shortage

German minister warns of industry shutdown amid gas shortage

-- 2022-06-24 13:18:55

Germany is heading for a gas shortage if Russian gas supplies remain as low as they are now, and certain industries would have to be shut down if there is not enough come winter, Economy Minister Robe...

India willing to support crisis-laden Sri Lanka's economic recovery

India willing to support crisis-laden Sri Lanka's economic recovery

-- 2022-06-23 17:10:47

India's top diplomat held talks with Sri Lanka's president and prime minister on Thursday as India signalled its willingness to go beyond the $4 billion in loans, swaps and aid that it has already pro...

‘Consumer behaviour to remain unpredictable globally for near future’

‘Consumer behaviour to remain unpredictable globally for near future’

-- 2022-06-22 22:03:03

Global retailers and consumer goods makers remain in crisis mode and expect consumer behaviour to remain unpredictable for the foreseeable future, top industry executives told a conference in Dublin t...

UK inflation hits 40-year record, highest in G7

UK inflation hits 40-year record, highest in G7

-- 2022-06-22 13:44:18

Soaring food prices pushed British consumer price inflation to a 40-year high of 9.1 per cent last month, the highest rate out of the Group of Seven countries and underlining the severity of the cost-...

Progress made in IMF-Pakistan talks on bailout programme

Progress made in IMF-Pakistan talks on bailout programme

-- 2022-06-22 10:22:36

Important progress has been made in talks between the International Monetary Fund and Pakistan to revive the country's bailout programme, the lender's resident representative in Islamabad said on Wedn...

Germany may face recession as Russian gas crisis deepens

Germany may face recession as Russian gas crisis deepens

-- 2022-06-21 19:18:03

Germany faces certain recession if already faltering Russian gas supplies completely stop, an industry body warned on Tuesday, as Italy said it would consider offering financial backing to help compan...

Sri Lanka asks government employees to work from home

Sri Lanka asks government employees to work from home

-- 2022-06-18 14:09:17

Sri Lanka's government on Friday ordered public sector employees to work from home for two weeks due to severe fuel shortages as the island nation grapples with its worst financial turmoil in seven de...