India to Impose Restrictions on Flour Exports to Protect Domestic Markets
India has announced plans to impose restrictions on the export of flour, a move that seeks to protect domestic markets from a global wheat crisis. The Directorate General of Foreign [...]
Sri Lanka Raises Lending Rates to 15.5%
The Central Bank of Sri Lanka raised its benchmark standing lending facility rate by 100 basis points to 15.5%, taking total interest rate hikes this year to 950 basis points. The decision [...]Inflation in Turkey Hits 78.6%, the Highest in 24 Years
Inflation in Turkey in June skyrocketed to an annual rate of 78.6%, the highest in 24 years. The inflation rate reported by Turkey’s state statistics agency was the highest since [...]Shanghai lockdown causes Drop in Tesla's deliveries despite record production in June
Tesla Inc. said on Saturday the company's production in June was the highest in Teslas history, although it fell 15.3% to 258,580 vehicles from the first quarter, while 254,695 cars [...]
France's Inflation Rises to 5.8% in June
France's inflation in June climbed further from the previous month to a record high of 5.8%, from 5.2% in May. The harmonised index is now at 6.5%, compared to 5.8% [...]Air France KLM Pays €277 Million Debt, its Last Portion of Loans from the Netherlands Gov't
French-Dutch airline, Air France KLM is repaying the last portion of loans it got from from the Netherlands government and banks to help it survive the COVID-19 pandemic. The carrier [...]Egypt Emerges as the Major Supplier of Oil to Saudi Arabia
Egypt has emerged as the major supplier of oil to Saudi Arabia. This month, Saudi will take 3.2 million barrels of the power-station fuel from the northeast African country, the [...]
Thailand Set to Rise Interest Rate to Curb Inflation World Bank
The pace of Thailand’s economic recovery, spurred by more tourism, is giving the country’scentral bankmore scope to raise interest rates to fight inflation, according to theWorld Bank. Southeast Asia’s second-largest [...]Airbnb Announces Plans to Permanently Ban Parties in Listed Homes
Airbnb has announced plans to permanently ban parties in homes listed on its platform after seeing a sharp drop in reports of unauthorized gatherings since the prohibition was put in [...]G7 Unveils $600 Billion Plan for Infrastructure Projects in Developing Countries
G7 leaders have detailed plans to mobilise $600 billion in funding to fund the launch of infrastructure projects in middle and low-income countries. The plan has been pitched as a [...]Sri Lanka Suspends Fuel Sale for Non-Essential Vehicles as Economic Crisis Bites
Sri Lanka has suspended sales of fuel for non-essential vehicles as it faces its worst economic crisis in decades. For the next two weeks only buses, trains, and vehicles used [...]Russia Defaults on Foreign-Currency Sovereign Debt for the 1st Time Since 1918
Russia has defaulted on its foreign-currency sovereign debt for the first time since 1918, a result of the ever-tougher Western sanctions that shut down payment routes to overseas creditors. [...]
