Articles Business IN UK 01

Adam McGeoch: Sectors hit hardest by pandemic now battling against cost-of-living crisis

Editorial Bureau July 5, 2022

London(UK)- As the economic recovery from the pandemic starts to falter, which sectors of the economy are still operating well below pre-pandemic levels of output? Despite a contraction in April, the Scottish economy remains above pre-pandemic levels however, certain sectors of the economy are

Business Finance

IEA: High prices, uncertainty will slow growth in gas demand

Editorial Bureau July 5, 2022

Berlin (Germany)- The International Energy Agency says high prices for natural gas and supply fears due to the war in Ukraine will slow the growth in demand for fossil fuel in the coming years. In a report published Tuesday, the Paris-based agency forecast global demand for natural gas will rise by 140 billion cubic meters […]

Asia Finance World

With no fuel and no cash, Sri Lanka keeps schools closed

Editorial Bureau July 3, 2022

Colombo (Sri Lanka)- Cash-strapped Sri Lanka on Sunday extended school closures for one week because there isn’t enough fuel for teachers and parents to get children to classrooms, and the energy minister appealed to the country’s expatriates to send money home through banks to finance new oil purchases. A huge foreign debt has left the […]

Asia Finance World

Gas lines and scuffles: Sri Lanka faces humanitarian crisis

Editorial Bureau June 29, 2022

Colombo(Sri Lanka)- Ordinary Sri Lankans — especially the poor — are paying the price. They wait for days for cooking gas and petrol — in lines that can extend more than 2 kilometres (1.2 miles). Sometimes, like Chamila Nilanthi, they go home with nothing. Chamila Nilanthi is tired of all the waiting. The 47-year-old mother […]

Asia Finance USA World

Senior US officials visit Sri Lanka to help resolve crisis

Editorial Bureau June 27, 2022

Colombo(Sri Lanka)- Senior U.S. officials were in Sri Lanka seeking ways to resolve crisis in the island nation to cope with an unprecedented economic crisis and severe shortages of essential supplies, as the energy minister warned that new fuel shipments would be delayed. The U.S. over the past two weeks has announced millions of dollars in assistance […]

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 highest level since 1982. Chief economist Grant […]

UK

Rail strike: PM calls for ‘sensible compromise’ over pay to end dispute

Editorial Bureau June 21, 2022

London(UK)- Boris Johnson is to call for a “sensible compromise” on pay to end the largest rail strike in 30 years. The prime minister is expected to say “too high demands” on wages will make it hard to halt rising inflation. Thousands of staff at Network Rail and 13 rail operators walked out from midnight […]

Finance

How much for gas? Around the world, pain is felt at the pump

Editorial Bureau June 20, 2022

Cologne(Germany)- At a gas station near the Cologne, Germany, airport, Bernd Mueller watches the digits quickly climb on the pump: 22 euros ($23), 23 euros, and 24 euros. The numbers show how much gasoline he’s getting rising, too. But much more slowly. Painfully slowly. “I’m getting rid of my car this October, November,” said Mueller, […]

Finance World

Zimbabweans count their toes as inflation soars above 130%

Editorial Bureau June 10, 2022

Harare(Zimbabwe)- Battling rampant inflation, Zimbabweans are counting their toes as they struggle to buy food for their families. An internet rumour blazed through the country that desperate people were selling their toes for cash. The false report became so widespread that the country’s Deputy Minister of Information Kindness Paradza visited street vendors in central

Finance

Eurozone inflation hits record 8.1% amid rising energy costs

Editorial Bureau May 31, 2022

London(UK)- Eurozone inflation hit a record 8.1% in May amid surging energy and food costs fueled in part by Russia’s war in Ukraine. Annual inflation in the 19 countries that use the euro currency soared past the previous record of 7.4% reached in March and April, according to the latest numbers published Tuesday by the European […]