IMF Projects Saudi Arabia's Economy to Grow by 7.6% on High Oil Prices
The IMF says the Saudi Arabia economy is expected to grow 7.6 per cent this year, up from 3.2 per cent in 2021, on the back of soaring oil revenues. [...]
Kenya Airways to Operate Daily Flights to New York
Kenya Airways has announced plans to operate daily flights from Nairobi to New York, up from three weekly, with effect from 19th June 2023. The launch of the New York route [...]
UK Inflation Rate Hits 10.1% as Food and Energy Prices Surge
UK inflation rose to another 40-year high in July as spiralling food and energy prices continued to intensify the country’s historic squeeze on households. The consumer price index in the [...]UK to Cut Import Taxes on Goods from Developing Countries
The UK has announced plans to cut import taxes on hundreds more products from some of the world's developing countries, as it seeks to boost trade links. The Department for [...]American Airlines Orders 20 Boom Supersonic Overtures
The world's largest airline, American Airlines has agreed to purchase 20 of the Boom Supersonic Overture aircraft, with an option to add up to 40 more. The airline is gambling that a market [...]China's Economy Slows Down as Covid Outbreaks and Property Crisis Bite
China’s economy unexpectedly slowed in July, with the factory and retail activity squeezed by Beijing’s zero-Covid policy and a property crisis, while the central bank surprised markets by cutting key lending [...]Spain's Inflation Hits 10.8% in July, the Highest Since 1984
Spain's annual inflation rose to 10.8% in July, above market expectations of 10.6%, hitting the highest level since 1984. The figure was 10.2% in June. The increase in inflation was [...]India to Restrict Sale of Phones Costing Less than $150 by Chinese Firms
India has announced plans to restrict Chinese smartphone makers from selling devices cheaper than $150, seeking to kickstart its faltering domestic industry The move is aimed at pushing Chinese giants [...]UK's GDP Shrinks in Q2 2022, 1st Time Since the COVID-19 Pandemic
The UK economy shrank in the second quarter for the first time since the pandemic, driven by a decline in spending by households and on fighting the coronavirus. The Office [...]Argentina Hikes Interest Rate to 69.5%-Biggest Hike in 3 years
Argentina’s central bank raised its benchmark Leliq rate to 69.5%, representing the largest hike in almost three years and signalling a more aggressive stance against surging inflation. According to a [...]Disney+ Subscribers Surge to 152 million as Netflix Subscribers stumble
Disney+ streaming service saw its number of paying subscribers leap beyond expectations in the last quarter, as rival Netflix’s client count ebbed, resultsshowed Wednesday. The number of people subscribing to [...]Sri Lanka Raises Electricity Tariffs by Up to 264%
Sri Lanka's state-run electricity monopoly will raise tariffs by 264% for people consuming the least, while higher users will face a smaller increase, with effect from 10th August 2022. The [...]
