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Page 29 - Economic Crisis

Sri Lanka to turn off street lights in deepening economic crisis

The island of 22 mn people is struggling with rolling blackouts for up to 13 hours a day because the govt does not have enough foreign exchange for fuel imports

Sri Lanka to turn off street lights in deepening economic crisis
Updated On : 31 Mar 2022 | 7:57 PM IST

Sri Lanka to turn off street lights as minister says power cuts to extend

Sri Lanka is turning off its street lights to save electricity, a minister said on Thursday, as its worst economic crisis in decades brought more power cuts and gloom to its main stock market

Sri Lanka to turn off street lights as minister says power cuts to extend
Updated On : 31 Mar 2022 | 2:45 PM IST

Russia says sanctions leading to economic crisis of historic proportions

An attempt by the West to isolate Russia is leading to an economic crisis of historic proportions, said Vasily Nebenzya, Permanent Representative of Russian to the UN.

Russia says sanctions leading to economic crisis of historic proportions
Updated On : 30 Mar 2022 | 12:37 PM IST

Sri Lanka avoids recession in Dec quarter, GDP grows 3.7% in 2021

Sri Lanka's economy grew at a slower-than-expected 1.8% in the 4th quarter of the 2021 financial year, taking its full year growth to 3.7 per cent, data from the govt's statistics department showed

Sri Lanka avoids recession in Dec quarter, GDP grows 3.7% in 2021
Updated On : 30 Mar 2022 | 12:38 AM IST

Growing political tension in Pak poses risks for economy: Finance Ministry

Pakistan's political situation is one of the main domestic risks to the economy due to uncertainty over the growing tensions between the government and opposition, the Ministry of Finance warned

Growing political tension in Pak poses risks for economy: Finance Ministry
Updated On : 29 Mar 2022 | 11:37 AM IST

Sudan risks sliding into economic and security collapse: UN envoy

The top UN envoy for Sudan warned that the country may risk sliding into an economic and security collapse and a worse humanitarian crisis.

Sudan risks sliding into economic and security collapse: UN envoy
Updated On : 29 Mar 2022 | 10:46 AM IST

Sri Lanka seeks additional $1-bn credit line from India: Report

Sri Lanka faces an economic crisis as it struggles to pay for essential imports of food and fuel after a 70% drop in foreign exchange reserves since January 2020

Sri Lanka seeks additional $1-bn credit line from India: Report
Updated On : 28 Mar 2022 | 3:19 PM IST

How is Sri Lanka's economic crisis affecting India?

Refugees from Sri Lanka are trickling in on India's southern shores. The effect of Sri Lanka's economic crisis is now being felt in India too. Find out how its economic condition is hitting India too

How is Sri Lanka's economic crisis affecting India?
Updated On : 28 Mar 2022 | 8:30 AM IST

UN warns of worsening food crisis in Sudan amid economic deterioration

The UN has warned of a deepening food crisis in Sudan as result of the African country's economic downturn, displacement and devastated harvests.

UN warns of worsening food crisis in Sudan amid economic deterioration
Updated On : 25 Mar 2022 | 9:04 AM IST

Banking system stable, says Sri Lanka as $1.4-bn bonds near maturity date

Sri Lanka faces an economic crisis as it struggles to pay for essential imports of food and fuel

Banking system stable, says Sri Lanka as $1.4-bn bonds near maturity date
Updated On : 24 Mar 2022 | 11:51 PM IST

'Have to eat half': Sri Lankans feel pain of spiralling economic crisis

Thusitha Hadaragama stood at a corner store near his home in Sri Lanka's Minuwangoda town this week and surveyed groceries to buy for his family of five, including two school-age children

'Have to eat half': Sri Lankans feel pain of spiralling economic crisis
Updated On : 24 Mar 2022 | 12:48 PM IST

Cash-strapped Pakistan says China agreed to roll over $4.2 bn debt

Pakistan has said that China agreed to rollover $4.2 billion debt that was maturing this week, providing a major financial relief to the cash-strapped country.

Cash-strapped Pakistan says China agreed to roll over $4.2 bn debt
Updated On : 24 Mar 2022 | 7:48 AM IST

Sri Lanka reforms its anti-terror law as EU reviews trade scheme

Vote on anti-terror law followed an EU Parliament resolution last year that called for a preferential trade scheme with Sri Lanka to be used as leverage for rights reforms in the South Asian nation

Sri Lanka reforms its anti-terror law as EU reviews trade scheme
Updated On : 24 Mar 2022 | 2:15 AM IST

Sri Lanka sends troops to fuel stations, aims to restructure its debt

The country will also hire a global law firm to provide technical assistance on debt restructuring ahead of talks with the International Monetary Fund on the country's economic crisis

Sri Lanka sends troops to fuel stations, aims to restructure its debt
Updated On : 23 Mar 2022 | 12:53 AM IST

Imran Khan's subsidies to destroy Pak's economy for next administration

With the looming threat of a no-confidence motion, Pakistani PM Imran Khan is seemingly in a mood to provide subsidies to the general public even at the cost of the economy

Imran Khan's subsidies to destroy Pak's economy for next administration
Updated On : 22 Mar 2022 | 7:34 AM IST

Sri Lanka seeks IMF help as FM leaves for India to sign $1 bn bailout deal

Sri Lanka's economy was facing 'mounting challenges' with public debt reaching 'unsustainable levels', the IMF has said earlier this month

Sri Lanka seeks IMF help as FM leaves for India to sign $1 bn bailout deal
Updated On : 15 Mar 2022 | 5:00 PM IST

Sri Lankan finance minister to visit India today hoping to seal $1 bn LoC

Amid the worsening economic situation in his country, Sri Lankan Finance Minister Basil Rajapaksa will begin his India visit on Tuesday, hoping to seal a USD 1 billion line of credit (LoC).

Sri Lankan finance minister to visit India today hoping to seal $1 bn LoC
Updated On : 15 Mar 2022 | 10:24 AM IST

I didn't join politics to check prices of 'aloo & tamatar': Imran Khan

Khan said he didn't join politics to check prices of aloo & tamatar, as he attacked oppositions for tabling no confidence motion against him, accusing him for mismanaging economy amid rising inflation

I didn't join politics to check prices of 'aloo & tamatar': Imran Khan
Updated On : 15 Mar 2022 | 1:37 AM IST

Lanka set to finalise another credit line for essential items with India

Sri Lanka is set to finalise another credit facility with India for food, medicine and other essential items which would help the island nation facing the worst economic crisis in decades

Lanka set to finalise another credit line for essential items with India
Updated On : 09 Mar 2022 | 9:24 PM IST

Global giants which have exited Russia

BP, Shell, General Motors, Ford, Volkswagen, Nike and Netflix are among the companies that have suspended their operations in Russia over its invasion of Ukraine. The list is getting longer by the day

Global giants which have exited Russia
Updated On : 09 Mar 2022 | 8:30 AM IST