Economic crisis

Brexit ramps up UK food bills by GBP 6 billion: LSE study

Food prices were pushed higher by the rising cost of extra checks and requirements on EU imports, the LSE noted in the report.

published on : 1st December 2022

Lebanon crisis means 'no football this year' for World Cup fans

Right until the start of the World Cup on November 20, the Lebanese had hoped the matches would be broadcast free on the public network Tele Liban, as was the case during the 2018 tournament.

published on : 30th November 2022

Sri Lanka ministers sacked by party ahead of crucial budget vote in parliament

However, the party suspensions do not mean the two ministers are sacked from the cabinet of Wickremesinghe.

published on : 22nd November 2022

UK: What Sunak's first big announcement tells us about how he will lead the country

The Sunak vision of a post-Brexit political economy is closer to Johnson than Truss. The new prime minister appears committed to Johnson's 'levelling up' agenda.

published on : 19th November 2022

UK budget predicted to be a nightmare before Christmas

Britain is likely already in recession after its economy shrank in the third quarter and is set to do so again in the final three months of the year, according to the Bank of England.

published on : 15th November 2022

Sri Lanka aims to hike taxes in budget to soften crisis

Wickremesinghe said negotiations with the IMF were progressing while the government is in talks with India and China on debt restructuring.

published on : 15th November 2022

IMF agrees $4.5 billion support package for Bangladesh

Bangladesh in common with other Asian economies has been hit hard by the sharp rise in prices in the wake of Russia's invasion of Ukraine, prompting angry street protests.

published on : 9th November 2022

"Legacy of Modi govt after 8 years: NO JOBS," says Chidambaram

The former Union Finance Minister claimed the Modi government's policies resulted in "worsening" of India's economic situation.

published on : 29th October 2022

High air freight charges: Kerala fruit, vegetable exporters losing market

40-50% decline in export volume compared to pre-Covid times; farmers affected adversely

published on : 22nd October 2022

Boris Johnson eyes comeback bid as UK Tories pick new leader

Johnson, who remained a lawmaker after stepping down as prime minister, has not said whether he will run, but his allies in Parliament are working to gather support.

published on : 21st October 2022

UK's new finance chief scraps 'nearly all' government tax cut plans in humiliation for PM Truss

Truss had already staged two embarrassing budget U-turns, scrapping tax cuts for the richest earners and on company profits.

published on : 17th October 2022

UK's Truss reverses plan to cut corporation tax

Truss is trying to restore order after three weeks of turmoil sparked by the government's tax-cutting "mini budget".

published on : 14th October 2022

Crisis-hit Iraq makes latest bid to elect president for fourth time 

This week, the United Nations mission said that "the protracted crisis is breeding further instability" in the war-scarred country, warning of "divisive politics, generating bitter public disillusion"

published on : 13th October 2022

Sri Lanka raises taxes to boost state revenue

Main opposition Samagi Jana Balawegaya's (SJB) economic spokesman Harsha de Silva criticised the tax hike.

published on : 12th October 2022

Sri Lanka will remain a 'middle-income' country, President's Office clarifies

Sri Lanka is going through its worst economic crisis since its independence in 1948 which was triggered by a severe paucity of foreign exchange reserves.

published on : 11th October 2022

IMF cuts India's economic growth forecast to 6.8 per cent in 2022

This is the weakest growth profile since 2001, except for the global financial crisis and the acute phase of the COVID-19 pandemic.

published on : 11th October 2022

Political paralysis in 'oil-rich' Iraq hampers economic growth

The government can't invest that money without an annual state budget -- which Prime Minister Mustafa al-Kadhemi is not authorised to submit to parliament in his capacity as caretaker.

published on : 8th October 2022

Lebanon economic crisis: Depositors storm three cash-strapped banks, demanding their own money

The banks, however, have condemned the heists and urged the Lebanese government to provide security personnel.

published on : 4th October 2022

Debate on Sri Lanka's 22nd constitutional amendment empowering Parliament may be stalled

It is meant to replace the 20A that had given unfettered powers to ex-President Gotabaya Rajapaksa after abolishing the 19th Amendment.

published on : 4th October 2022

Sri Lanka imposes social media ban on officials after child hunger posts

"Expressing opinions on social media by a public officer... shall constitute an offence that leads to taking disciplinary action," an order said.

published on : 28th September 2022
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