World Economy

WEF 2022: EU CEOs step up action plan on energy and food security

CEO Action Group renewed its commitment to a 55 per cent emissions reduction target by 2030

WEF summit: World economy has 'buffer' against recession, says Gopinath

"I would say at 3.6 per cent there is a buffer," she said, conceding, however, that risks are uneven around the world

Thomas Piketty's equality programme

Although Piketty favours much higher income tax rates, policies that redistribute property rather than income are the heart of his programme

IMF: Diversification, substitutability build resilient value chains

The IMF says that in the early days of the pandemic in 2020, the GVC-intensive trade collapsed but rebounded very quickly showing remarkable resilience.

The biter bit: The sanctions on Russia are beginning to hurt buyers now

All things considered, might it have been better and cheaper, shed less blood, and avoided a huge refugee problem if Russia had been allowed a buffer zone in Eastern Europe, wonders T N Ninan

Pakistan increases power tariff by Rs 4.8 per unit amid rising inflation

Former Pakistan PM Imran Khan lost power after he lost a no-confidence vote on the issues of inflation and the worsening economic situation of the country

World Bank lowers Pakistan's economic growth forecast to 4.3%

The bank cited the additional burden on the budget put by the last-ditch energy subsidies by the outgoing Imran Khan government

Sri Lanka default looms as debt payments halted to save dollars

Sri Lanka's dollar bonds due July 2022 fell 1.8 cents on the dollar on Tuesday to a record low 46.07 cents. The rupee lost 0.5%.

11,000 MT of rice from India reaches Lanka ahead of new year

Sri Lankans will celebrate Sinhala and Tamil New Year on April 13 and 14. This is one of the biggest festivals in Sri Lanka.

Crisis-hit Sri Lanka announces debt default due to low forex reserves

Sri Lanka's external debt servicing obligations were thought to be over $6 billion.

UK economic growth slows down amid declines in manufacturing

Gross domestic product increased just 0.1% from a month earlier, down from the 0.8% growth reported in January, the Office for National Statistics said Monday.

Sri Lanka economic crisis: Food prices surge to 'unbearable levels'

The consumers in the island nation said that rice prices have risen to unbearable levels

The street has spoken in Sri Lanka: the Rajapaksa brothers have to go

The government prioritized servicing external debt rather than ensuring it could provide for its people

Sri Lankan government in disarray as economic crisis deepens

Possible next steps could be the appointment of a new prime minister replacing the president's elder brother, Mahinda Rajapaksa, or snap parliamentary elections much ahead of a scheduled vote in 2025.

$120 bn global grain trade being redrawn by Russia's war in Ukraine

India, which historically kept its huge wheat harvests at home - thanks to a government-set price - is jumping into the export market, hawking record amounts across Asia

Canadian consumer expectations for inflation reach record levels: Survey

Survey respondents expressed the belief that three main issues were making inflation harder to control: supply chain issues, the persistence of the pandemic and high government spending.

Sri Lanka's Central Bank Governor resigns amid economic crisis

The country is witnessing protests over the government's handling of the worst economic crisis in decades.

Time is fast running out: Former Cricketer Sangakkara on Lanka's crisis

This statement comes as the island nation is facing a foreign exchange shortage which has led to a food, fuel, power, and gas shortage

Commodity prices set for 'best year since 1915': Report

A flurry of factors, such as the pandemic, lockdowns, civil unrest, war, excess monetary and fiscal stimulus and broken supply chains have resulted in epic inflation, BofA analysts said

Japan PM Kishida to consider new stimulus to ease fuel spike blow: Report

Nikkei newspaper reports the government will likely tap 5.5 trillion yen ($45.41 billion) in reserves set aside under the fiscal 2022 budget.