IMF to Advance Loans to Poor Nations on Rising Food Crisis
The IMF has launched a new Food Shock Window programme that seeks to help vulnerable countries address the prevailing food insecurity. The programme, which is a funding mechanism, is targeting [...]
Is Credit Suisse On the Verge of Collapsing?
Credit Suisse Bank CEO memo, intended to flicker some hope about the struggling major bank, did not go well. At a time when the CEO and other top leaders are [...]
Sri Lanka's Inflation Surges to Nearly 70% Amidst IMF Bailout
Sri Lanka’s inflation rate hit nearly 70 per cent in September for a 12th consecutive monthly record; official data showed Friday after a year of shortages, price hikes and economic [...]U.K. Enters into a Recession as Bank of England Raises Interest Rate to 2.25%
The Bank of England voted to raise its base rate to 2.25% from 1.75% on Thursday, lower than the 0.75 percentage point increase that had been expected by many traders. [...]Egypt Set to Raise Suez Canal Transit Fees for ships by 15% in 2023
Egypt has said that it will increase transit fees for vessels, including oil-laden tankers, passing through the Suez Canal, one of the world’s most crucial waterways. The Suez Canal Authority said in [...]World Bank Warns of a Global Recession Amidst Simultaneous Rate Hikes
The threat of a global recession is growing as central banks focus on bringing down soaring inflation rates, the World Bank warned Thursday, calling on governments to help boost supply [...]France Announces Plans to Limit Energy Price Rises to 15%
France has announced plans to limit energy prices rises to 15% for households from the start of next year, seeking to ease the burden of the energy crisis on consumers. [...]
UK Inflation Slows Down to 9.9% in August
UK inflation slowed down slightly in August on lower motor fuel costs as Consumer Prices Index fell to 9.9% in August, down from 10.1% in July. The July CPI was the [...]US Inflation Falls Slightly to 8.3% in August
The annual inflation rate in the US, the pace at which prices rise, fell to 8.3% in August, down from 8.5% in July, marking a second month of decline. However, [...]Germany Set to Introduce Green Card to Boost Work Force
Germany is planning to introduce its version of a green card. It aims to make it easier for non-EU nationals to come to find work in an attempt to plug [...]UAE Tourism Revenue Tops $ 5 Billion as Tourist Return
The United Arab Emirates (UAE) tourism revenues surpassed $5 billion in the first half of this year, officials said Sunday, with a strong performance expected this winter when neighbouring Qatar [...]Australia Set to Raise Key Interest Rate by 40 bps in October
Australia’s central bank will raise interest rates by 40 basis points next month and conclude its tightening cycle at 3% in November as it diverges from global peers, says Alex [...]
