Economy

Energy war, chip-battle, Taiwan in focus at WEF in a turbulent world order

For the titans of commerce gathering in Davos this week, all of this marks a shift away from the era of ever-closer global ties, when big business thought it had succeeded in making the world flat

Pakistan bans import of non-essential luxury items to stabilise economy

The Pakistani government 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 national economy.

New Zealand government forecasts narrower budget deficit for FY22

Heavy spending was targeted towards infrastructure, including new schools, and defence, while funds were also allocated to ease the impact of global inflation on New Zealanders

Japan's trade gap widens as import costs surge on supply pressures

The mixed data on Thursday followed the yen's falls to two-decade-lows against the dollar earlier this month, which stoked fears of worsening terms of trade

Japan's economy contracts in first quarter as energy prices soar

Japan's economy shrank at a worse than expected annual rate of 1 per cent in the first quarter, as rising prices and Covid restrictions sapped spending and investment, according to data released

Russia forecasts 7.8% GDP contraction in 2022; unemployment rate at 6.7%

The Russian Ministry of Economic Development said that it expected the country's gross domestic product (GDP) to decease by 7.8 per cent year on year in 2022.

France's CPI increases by 4.8% yearly in April on acceleration of service

The prices of transport services accelerated due to airfares and transport by road prices, according to INSEE

4.8 million jobs lost in Ukraine since start of conflict: ILO study

If the fighting was to cease immediately a rapid recovery would be possible, with the return of 3.4 million jobs, Xinhua news agency reported

Structural weakness of Pakistani economy driving away investors: Report

The long-standing structural weakness of Pakistan's economy, aggravated by the global challenges of the Covid-19 pandemic and the Ukraine-Russia war, is scaring away the investors in the country

Govt agency expects Nepal's economy to grow by 5.84% in current FY22

Amid the pandemic, Nepal's economy contracted by 2.37 per cent in 2019-20, and grew by 4.25 per cent in 2020-21, according to official figures

Israel to reopen Erez crossing point with Gaza to boost economic recovery

Israel on Tuesday decided to reopen the Erez crossing point on the northern tip of the Gaza Strip after economic losses in the impoverished coastal enclave had piled up.

Sanctions hit Russian economy, although Putin says otherwise

While Russia can claim some symbolic victories, the full impact of Western sanctions is starting to be felt in very real ways.

Farmers are doing well

In 2022, India will record the fifth consecutive year of bumper wheat crop

Nepal's economic performance positive, not to worry: Finance Minister

Nepal's Finance minister on Monday dismissed claims by opposition parties that the country's economy will deteriorate further in the coming days

Mocked as 'rubble' and fighting sanctions, Russian ruble comes roaring back

The rapid ruble recovery gives Putin a major victory back in Russia, where many people fixate on the currency's ups and downs

Kenya's unprecedented fuel shortage threatens to shut down economy

Kenya has been hit hard by an unprecedented fuel shortage that is threatening to grind the country's economy to a halt.

Curfew in Sri Lanka after inflation protesters gather at President's home

The island of 22 million people is experiencing rolling blackouts for up to 13 hours a day because the government does not have enough foreign exchange for fuel imports.

Long-awaited four labour codes may not come up before June-end

In the case of the labour codes, apart from the states, the Centre too is required to frame rules

Australia's retail sales beat forecasts, rise 1.8% to $24.76 bn in February

Australian retail sales beat forecasts again in February as shoppers defied storms and Omicron waves to return to cafes and department stores for the second-best month ever of spending

Ukraine war causing German business sentiment to 'collapse': Ifo Institute

Sentiment among German companies "has collapsed" due to the Ukraine crisis, the Munich-based Ifo Institute for Economic Research has said.