Russian rouble edges lower against dollar, not above 5-year high
... losing the support of some capital controls and as sovereign default risk became a prominent issue. The Russian rouble weakened against the dollar on Wednesday, but was not far from a five-year high against the euro, after losing the support of some capital controls and as sovereign default risk became a prominent issue. The rouble has become the world's best-performing currency despite a full-scale economic crisis, artificially supported by controls that Russia imposed in late February to protect its financial sector after it sent tens of thousands of troops into Ukraine. The rouble was 0.5% weaker against the dollar at 63.90 at the time of 0741 ...
Updated: 05/18/2022
NHAI optimistic about meeting asset monetisation target in current fiscal
... India NHAI is optimistic about meeting the asset monetisation target of Rs 20,000 crore in the current fiscal, amid ongoing economic uncertainties and geopolitical instability, a top official said. The national road infrastructure building entity will ... ... expressways and access-controlled corridors, developed as part of the Bharatmala Pariyojana with a length of 8,300 km and a capital cost of Rs 3.6 lakh crore, are expected to be the next lifeline of growth for the country and are expected to generate ...
Updated: 05/18/2022
Sri Lanka arrests two lawmakers over mob violence
... politicians - including former prime minister Mahinda Rajapaksa and his son Namal - whose passports were impounded last week after allegations that they instigated violence. On May 9, thousands of ruling party supporters who had been bussed into the capital protested a peaceful demonstration by anti-government protesters who demanded President Rajapaksa resign over the economic crisis that has plagued the country. More than 70 ruling party leaders' homes were destroyed by the mob attack on the president's elder brother, Mahinda Rajapaksa , who resigned shortly after the mob attack sparked retaliatory violence and arson....
Updated: 05/18/2022
UK inflation hits highest level since 1982, prompting urgent action
... investors expect the BoE to add to the four interest rate increases it has done since December, which took its Bank Rate to 1%, its highest since 2009. Things are going to get worse before they get better, according to Paul Dales , chief UK economist at Capital Economics consultancy. There was signs of more inflation pressure ahead as manufacturers suffered the joint biggest increase on record in the prices they pay for inputs, which was up by an annual 18.6%, matching March's high. Factories increased their ...
Updated: 05/18/2022
China changes tack towards tech sector after virus rebound
... in a rare meeting with executives. China, the last major global economy to stick to zero-COVID policy, is struggling with an economic slump due to the prolonged virus lockdowns that have slowed demand and stalled manufacturing. After an 18 month crackdown,... ... private economy, according to state broadcaster CCTV . He promised to support digital firms listing in domestic and foreign capital markets, CCTV reported. Under the tech crackdown, overseas IPOs from Alibaba's Ant Group and Didi Chuxing-China's Uber ...
Updated: 05/18/2022
B.S. consumer durables face mounting woes
... rupee that will push up the cost of imported components. Interest rates are going to go higher, increasing the cost of working capital for companies and raising the EMIs equated monthly instalments of customers who buy consumer goods by taking loans. Business ... ... strived to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your support and constant feedback on how to improve our offering has made ...
Updated: 05/18/2022
IMF to begin talks with Pakistan over aid release
... slowed by concerns about the pace of economic reforms in the South Asian country. The International Monetary Fund will begin talks with Pakistani officials on May 18 over the release of crucial funds, a process slowed by concerns about the pace of economic reforms in the South Asian country. Pakistan has sought international support for its economy, which has been hit by crippling national debt, galloping inflation and a plummeting rupee. The talks will be held in the Qatari capital Doha, Pakistan's finance ministry said, and are expected to continue into next week. The government will try to convince the International Monetary Fund that for political stability purposes it is important to keep some of the subsidies, according ...
Updated: 05/18/2022
Wuhan sees biggest growth in permanent population
... province. In April of last year Xu Huanhuan ended his eight-year stay in Beijing and returned to his hometown of Wuhan, the capital of Hubei province. The 32-year-old said the city is reviving quickly from the adverse effects of COVID 19 and he is able ... ... Chinese mainland in 2021, according to official statistics released recently. Ye Qing , a professor at the Zhongnan University of Economics and Law in Wuhan, said the city led in population growth because the economy has developed quickly since its lockdown ...
Updated: 05/18/2022
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