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The Financial Express

Search results for: global

Biden to launch Indo-Pacific economic plan to counter Beijing  

Biden to launch Indo-Pacific economic plan to counter Beijing  

-- 2022-05-22 19:16:15

US President Joe Biden arrived in Japan on Sunday to launch a plan for greater US economic engagement with the Indo-Pacific, facing criticism even before the programme is announced that it will offer...

Governments should subsidise food and energy, IMF boss says

Governments should subsidise food and energy, IMF boss says

BBC 2022-05-22 10:32:46

Governments need to subsidise the cost of food and energy for the poorest members of society, the head of the International Monetary Fund (IMF) has told the BBC. People around the world a...

Indian government trims tax on fuel to fight inflation

Indian government trims tax on fuel to fight inflation

-- 2022-05-21 22:17:31

India's Finance Minister Nirmala Sitharaman on Saturday announced a reduction of taxes on petrol and diesel to fight inflation and keep prices of essential items in check.The excise duty on petrol was...

Australia reports 48-year-low jobless rate

Australia reports 48-year-low jobless rate

-- 2022-05-20 19:38:45

Australia's unemployment rate stood at its lowest in almost 50 years in April as firms took on more full-time workers, a tightening in the labour market that will ratchet up pressure for further hikes...

Pakistan bans import of luxury goods as rupee hits new lows

Pakistan bans import of luxury goods as rupee hits new lows

-- 2022-05-20 16:26:04

Pakistan has imposed a complete ban on the import of more than three dozen non-essential luxury items as part of an emergency economic plan to stabilise the economy. On Thursday, Minister for Informa...

China wants to expand BRICS bloc of emerging economies

China wants to expand BRICS bloc of emerging economies

-- 2022-05-19 22:25:16

China wants to expand the group of emerging economies known as BRICS, in the first shake up of the bloc in over a decade, a senior Chinese diplomat said on Thursday.Brazil, Russia, India and China ini...

World Bank to offer $30 billion to address global food crisis

World Bank to offer $30 billion to address global food crisis

-- 2022-05-19 12:53:07

The World Bank said on Wednesday it will make $30 billion available to help stem a food security crisis threatened by Russia's war in Ukraine, which has cut off most grain exports from the two countri...

UK inflation hits 40-year high

UK inflation hits 40-year high

-- 2022-05-18 15:45:39

Britain’s inflation rate rose to the highest level in 40 years last month as Russia’s war in Ukraine fueled further increases in food and fuel prices. Consumer price inflation accelerated...

US Dollar Currency Index down 0.7pc at 103.39, lowest since May 6

US Dollar Currency Index down 0.7pc at 103.39, lowest since May 6

-- 2022-05-17 22:02:50

The dollar eased for a third straight day on Tuesday, pulling back from a two-decade high against a basket of major peers, as an uptick in investors' appetite for riskier bets diminished the US curren...

Ukraine war, India ban push wheat prices higher in global markets

Ukraine war, India ban push wheat prices higher in global markets

-- 2022-05-16 15:00:40

India's ban on exports of wheat due to the heatwave that hit crops has raised the prices of the staple cereal in the international markets. Domestic prices in the South Asian country ascended to a...

Taliban announces first annual Afghan budget

Taliban announces first annual Afghan budget

-- 2022-05-15 16:05:27

Afghanistan faces a budget deficit of 44 billion Afghanis ($501 million) this financial year, the country's Taliban authorities said on Saturday without clarifying how the gap between expected reven...

Dollar climbs to 20-year high on inflation fears

Dollar climbs to 20-year high on inflation fears

-- 2022-05-13 17:49:00

The dollar climbed to a 20-year high on Thursday as concerns persisted that central bank actions to counter high inflation would crimp global economic growth, boosting the currency's safe-haven appeal...

Japan's SoftBank faces record losses as investments sour

Japan's SoftBank faces record losses as investments sour

-- 2022-05-12 17:12:05

SoftBank Group sank into losses in the past fiscal year as the value of its global investments declined, the Japanese technology company reported Thursday. SoftBank Group Corp. reported red ink total...

US consumer price growth slows sharply in April

US consumer price growth slows sharply in April

-- 2022-05-11 23:16:10

US consumer price growth slowed sharply in April as gasoline prices eased off record highs, suggesting that inflation has probably peaked, though it is likely to stay hot for a while and keep the Fede...

Ukraine war slowing global remittances growth: World Bank

Ukraine war slowing global remittances growth: World Bank

-- 2022-05-11 21:42:20

The war in Ukraine will help slow the growth of officially recorded remittance flows to low- and middle-income countries to an estimated 4.2 per cent this year from a strong 8.6 per cent rebound in 20...

Indian shares end lower, rupee hits an all-time low

Indian shares end lower, rupee hits an all-time low

-- 2022-05-10 17:12:15

Indian shares fell and the rupee hit an all-time low on Monday, weighed down by global economic growth worries due to tightening of lockdown in Shanghai and fears inflation could increase aggressive p...

Ukraine exports over 1m tonnes of grain in April

Ukraine exports over 1m tonnes of grain in April

-- 2022-05-09 17:10:19

Ukraine has sown about 7.0 million hectares of spring crops so far this year, or 25-30 per cent less than in the corresponding period of 2021, and exported 1.090 million tonnes of grain in April, Ag...

G7 leaders says they will reinforce Russia's economic isolation

G7 leaders says they will reinforce Russia's economic isolation

-- 2022-05-08 23:19:29

The Group of Seven (G7) leaders said in a joint statement on Sunday that they will reinforce Russia's economic isolation and ‘elevate’ a campaign against Russian elites who support Preside...

AIIB considers granting $100m in emergency support to Sri Lanka

AIIB considers granting $100m in emergency support to Sri Lanka

-- 2022-05-08 19:48:08

The China-backed Asian Infrastructure Investment Bank (AIIB) is considering granting $100 million in emergency support to Sri Lanka, the country's finance ministry said on Sunday. Sri Lanka has reque...

Somalia seeks three-month extension of its IMF support programme

Somalia seeks three-month extension of its IMF support programme

-- 2022-05-07 16:07:30

Somalia's government has asked the International Monetary Fund (IMF) to extend its financial support by three months to August 17, the head of the IMF's country mission told news agency Reuters. The...

India hikes repo rate by 40 bps to 4.4pc in first change after two years

India hikes repo rate by 40 bps to 4.4pc in first change after two years

-- 2022-05-06 19:19:58

India's central bank has raised the benchmark interest rate for the first time in two years in an attempt to rein in high consumer prices. The Reserve Bank of India (RBI) raised the repo rate - at wh...

FAO says food security remains a concern despite slight drop in prices

FAO says food security remains a concern despite slight drop in prices

-- 2022-05-06 16:37:16

World food prices eased slightly in April after hitting a record high in March, but global food security remained a concern because of the difficult market conditions, UN food agency said on Friday....

BoE flags risk of recession and 10 per cent inflation as it raises rates again

BoE flags risk of recession and 10 per cent inflation as it raises rates again

-- 2022-05-06 13:54:49

The Bank of England sent a stark warning that Britain risks a double-whammy of a recession and inflation above 10 per cent as it raised interest rates on Thursday to their highest since 2009, hiking b...

Interest rate hikes: Shares fall in Asia and the US

Interest rate hikes: Shares fall in Asia and the US

-- 2022-05-06 11:42:19

Stock markets in Asia and America have tumbled after the US central bank this week announced the biggest interest rate rise in 22 years. The sell-off comes as worries intensified over how...

Sri Lankan tea pickers' dreams shattered by economic crisis

Sri Lankan tea pickers' dreams shattered by economic crisis

-- 2022-05-05 13:12:43

On a lush plantation in Sri Lanka, Arulappan Ideijody deftly plucks the tips of each tea bush, throwing them over her shoulder into an open basket on her back, Reuters reports. After a month of picki...

Global hunger may worsen without urgent action, says UN agency

Global hunger may worsen without urgent action, says UN agency

-- 2022-05-04 17:53:09

Conflict, extreme weather and economic shocks increased the number of people facing a severe lack of food by a fifth to 193 million last year and the Ukraine war means the outlook will worsen without...

Sri Lanka plans to replace 'unrealistic' budget

Sri Lanka plans to replace 'unrealistic' budget

-- 2022-05-04 14:36:41

Sri Lanka plans to replace its current "unrealistic" budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the country's finance minister said on Wednesday....

ADB approves policy-based lending to $18b for 2022–24 

ADB approves policy-based lending to $18b for 2022–24 

-- 2022-05-03 22:26:17

The Asian Development Bank (ADB) has approved a ceiling of up to $18 billion in policy-based lending (PBL) between 2022 and 2024 and enhanced its crisis-response instruments to support its developing...

Australia hikes interest rates by surprisingly-large 25 basis points

Australia hikes interest rates by surprisingly-large 25 basis points

-- 2022-05-03 22:20:39

Australia's central bank on Tuesday raised its cash rate by a surprisingly-large 25 basis points to 0.35 per cent, the first hike in over a decade, and flagged more to come as it pulls down the curtai...

Modi vows to bolster ties with Europe amid Russia-Ukraine war 

Modi vows to bolster ties with Europe amid Russia-Ukraine war 

-- 2022-05-01 18:56:37

Indian Prime Minister Narendra Modi has vowed to bolster ties with India's European partners in the country's quest for "peace and prosperity", ahead of his tour of Germany, Denmark and France amid th...