Finance UK

UK inflation rate hits new 40-year high of 9.1%

Editorial Bureau June 22, 2022

London (UK)- Britain’s inflation rate hit a new 40-year high of 9.1% in the 12 months to May, figures showed Wednesday, as Russia’s war in Ukraine drove food and fuel prices ever higher. The Office for National Statistics said consumer price inflation rose slightly from 9% in April, itself the

Asia Finance World

Sri Lanka PM says economy ‘has collapsed,’ unable to buy oil

Editorial Bureau June 22, 2022

Colombo(Sri Lanka)- Sri Lanka’s debt-laden economy has “collapsed” after months of shortages of food, fuel and electricity, its prime minister told lawmakers Wednesday, in comments underscoring the country’s dire situation as it seeks help from international lenders. Prime Minister Ranil Wickremesinghe told Parliament the South Asian country is “facing a far more serious

Finance

Rupee likely to depreciate amid strong dollar, unabated foreign funds outflows; USDINR to trade in this range

Editorial Bureau June 7, 2022

The rupee is expected to depreciate today amid strong dollar and unabated foreign funds outflows. However, sharp downside may be prevented on expectations of another interest rate hike by RBI. US$INR futures is likely to trade in the range of 77.75 to 77.90 Delhi(India)- The Indian Rupee is expected to depreciate further, and may even fall below […]

Finance

Powell: ‘Soft’ economic landing may be out of Fed’s control

Editorial Bureau May 13, 2022

WASHINGTON — Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second term earlier in the day, acknowledged for the first time Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession. For weeks, Powell has portrayed the Fed’s drive to raise interest rates as […]

Asia

Wickremesinghe returned as PM of Sri Lanka to Stifle the crisis

Editorial Bureau May 13, 2022

 Five-time former Sri Lankan Prime Minister Ranil Wickremesinghe reappointed on Thursday  Colombo (Sri Lanka) -Five-time former Sri Lankan Prime Minister Ranil Wickremesinghe returned to position on Thursday. An effort to bring stability to the island nation, engulfed in a political and economic crisis. Wickremesinghe, a contentious choice by President Gotabaya Rajapaksa,

Finance

What caused Sri Lanka’s economic collapse?

Editorial Bureau May 12, 2022

Colombo (Sri Lanka) – The South Asian nation of Sri Lanka is experiencing an unprecedented economic collapse that has pushed the government into a deep crisis. The island is struggling to import basic necessities for its 22 million people because of diminishing foreign reserves and crippling debt, spurring weeks of antigovernmental protests that recently turned […]

Finance

World shares mixed, China gains on talks of help for economy

Editorial Bureau April 28, 2022

TOKYO — Global shares were mixed Wednesday, with European shares advancing after a retreat in Asia, though mainland Chinese stocks rebounded as Beijing redoubled confidence-boosting efforts with promises of more support for the slowing economy. U.S. futures were higher and oil prices also rose, but modestly. The focus was on energy markets. Gas prices surged […]

Finance

China tries to limit economic blow of Shanghai shutdown

Editorial Bureau March 30, 2022

BEIJING — As millions of Shanghai residents line up for coronavirus tests in the closed-down metropolis, authorities are promising tax cuts for shopkeepers and to keep its busy port functioning to limit disruptions to industry and trade. This week’s shutdown of most activities in China’s most populous city to contain virus outbreaks jolted financial markets […]

Finance

China’s legislature to meet with economy, Ukraine backdrop

Editorial Bureau March 4, 2022

BEIJING — China’s 3,000-member ceremonial parliament will open its annual session Saturday with the government facing a slowing economy and international pressure over its refusal to condemn Russia’s invasion of Ukraine. While domestic issues typically dominate the National People’s Congress, the war in Ukraine is highlighting the ideological confrontation between the

USA

In State of the Union, Biden Will Focus on Economy and Global Response to Russia

Editorial Bureau March 2, 2022

Mr. Biden will urge Congress to pass legislation, approved by the House in December, to increase the Federal Maritime Commission’s oversight of the shipping industry. The president will deliver his remarks on Tuesday without a mask, on the same day that officials at the Centers for Disease Control and Prevention lift many Covid restrictions for […]