Search results for: Global

ADB plans $14b to ease food crisis in Asia-Pacific region

FE ONLINE REPORT 2022-09-27 14:35:43

The Asian Development Bank (ADB) announced plans to provide at least $14 billion over 2022–2025 in a comprehensive programme of support to ease a worsening food crisis in Asia and the Pacific....

Sri Lanka looks to revive free trade deal with Singapore

-- 2022-09-27 14:12:33

Sri Lanka will step up efforts to revive a stalled free trade pact with Singapore, President Ranil Wickremesinghe told the city state’s premier on Tuesday, his office said in a statement. The l...

India's Adani Group to invest over $100b in next decade

-- 2022-09-27 13:32:25

India's Adani Group will invest more than $100 billion in the next decade, Chairman Gautam Adani, the world's second-richest person, told a Forbes Global CEO Conference in Singapore, reports...

British pound plunges to new low against USD

-- 2022-09-26 20:16:14

The British pound fell to all-time low against the US dollar early Monday after Treasury chief Kwasi Kwarteng pledged a sweeping package of tax cuts, fuelling concerns about the government's economic...

Pakistan's finance minister says he will formally resign from role

-- 2022-09-26 13:44:25

Pakistan's finance minister Miftah Ismail said on Sunday he planned to formally resign from the role, a change that comes as the country grapples with an economic crisis exacerbated by destructi...

Sri Lanka aims to have $2.9b IMF loan finalised in December

-- 2022-09-24 15:15:29

Sri Lanka expects the International Monetary Fund board to approve a $2.9 billion loan by year-end, officials from the country's central bank told investors during a virtual presentation on Friday, so...

Facing calls to resign, World Bank's Malpass changes answer on climate crisis

-- 2022-09-23 19:11:57

Under pressure to resign for declining to say whether he accepts the scientific consensus on global warming, World Bank President David Malpass said on Thursday it was clear greenhouse emissions are c...

New UK finance minister Kwarteng seeks end to 'cycle of stagnation'

-- 2022-09-23 15:45:06

Britain's new finance minister Kwasi Kwarteng unleashed historic tax cuts and huge increases in borrowing on Friday in an economic agenda that floored financial markets, with British government bonds...

Sri Lanka to unveil debt restructuring plan to creditors

-- 2022-09-23 13:04:41

Sri Lankan authorities will formally hold talks with international creditors on Friday to start the process of restructuring billions of dollars of its debt and share plans to tackle the island's wors...

Jobs in renewable energy sector rise to 12.7m globally

-- 2022-09-22 20:02:53

Despite the lingering impacts of Covid and the growing energy crisis, people employed globally in the renewable energy sector reached 12.7 million last year, an increase of 700,000 new jobs in just 12...

Sri Lanka set to begin talks to restructure debt of $30b

-- 2022-09-22 18:02:34

Crisis-hit Sri Lanka will begin on Friday the tricky task of debt renegotiation with a raft of private and bilateral creditors, including China, India and Japan, to restructure and repay nearly $30 bi...

India says it starts talks with Sri Lanka on restructuring debt

-- 2022-09-20 20:35:56

India said on Tuesday it had begun talks with Sri Lanka on restructuring its debt and promised to support the crisis-hit neighbour mainly through long-term investments after providing nearly $4 billio...

Japan's inflation hits near 8-year high, stays above BOJ's target

REUTERS 2022-09-20 11:56:14

Japan's core consumer inflation quickened to 2.8 per cent in August, hitting its fastest annual pace in nearly eight years and exceeding the central bank's 2 per cent target for a fifth straight month...

Ecuador reaches deal with China to restructure debt

-- 2022-09-20 11:28:30

Ecuador has reached an agreement to restructure its debt with Chinese banks, the government said in a statement on Monday, providing debt relief worth some $1.4 billion until 2025. Ecuador's Presiden...

Frugal is the new cool for young Chinese as economy falters

REUTERS 2022-09-19 11:08:45

Before the pandemic, Doris Fu imagined a different future for herself and her family: new car, bigger apartment, fine dining on weekends and holidays on tropical islands. Instead, the 39-year old Sha...

India economic growth to be sustained by consumer spending rebound

-- 2022-09-18 18:37:41

A sharp rebound in consumer spending and rising employment will sustain economic growth in India in the months ahead, the government said in its monthly economic review for August published on Saturda...

Oil prices to grow by between 2.0pc and 3.0pc this year and next

OPEC and IAEA say 2022-09-18 17:49:56

Oil prices have tumbled by around a quarter in the past three months, largely due to fears of a prolonged slump in global energy demand. But no major forecaster is actually predicting one. Two of the...

What is Black Sea Grain Initiative and why does it matter

-- 2022-09-17 20:50:10

Since Russia's invasion of Ukraine, exports of grain from Ukraine, as well as food and fertilisers from Russia, have been hit hard. The disruption in supplies pushed soaring prices even higher and co...

China's economy perks up but dogged by property crisis

REUTERS 2022-09-16 13:50:48

China's economy showed surprising resilience in August, with faster-than-expected growth in factory output and retail sales shoring up a fragile recovery, but a deepening property slump weighed on the...

IMF sees further global economic slowdown in third quarter

REUTERS 2022-09-16 09:04:42

Downside risks continue to dominate the global economic outlook and some countries are expected to slip into recession in 2023, but it is too early to say if there will be a widespread global re...

Sri Lanka's economy shrinks 8.4pc amid fertiliser, fuel shortages

-- 2022-09-15 18:40:52

Sri Lanka's economy shrank 8.4 per cent in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation's...

This might hurt: tectonic plates of global economy shift

-- 2022-09-12 20:17:17

When the Shannon family announced the closure of their garden centre just off London's busy South Circular road after 33 years of trading this month, their message to customers sought to explain their...

IMF eyes expanded access to emergency aid for food shocks

REUTERS 2022-09-12 13:18:22

The International Monetary Fund is looking for ways to provide emergency funding to countries facing war-induced food price shocks and will discuss measures at an executive board meeting on Monday...

World Bank delivers record $31.7b aid in climate finance

FE ONLINE REPORT  2022-09-09 17:31:05

The World Bank Group delivered a record $31.7 billion in the fiscal year 2022 (FY22) to help countries address climate change.  This is a 19 per cent increase from the $26.6 billion all-time hig...

Asia shares rise as Wall Street on track to end loss streak

FE ONLINE DESK 2022-09-08 10:40:36

Asian benchmarks mostly rose Thursday, as investor optimism got a perk from a rally on Wall Street that's on track to break a three-week losing streak. Japan's benchmark Nikkei 225 surged nearly 2.0...

Ample world rice supplies to cushion impact of Pakistan, China crop losses

-- 2022-09-07 20:54:50

Abundant rice supplies in key exporters may largely offset an expected drop in output after floods in Pakistan and severe heatwave in China damaged crops, capping any gains in prices from steady Asian...

ADB launches programme to scale up investments in air quality improvement 

-- 2022-09-07 17:06:30

The Asian Development Bank (ADB) on Wednesday launched the Asia Clean Blue Skies Program (ACBSP) to scale up ADB's investments in improving air quality in Asia and the Pacific.  Launched at the...

Asian stocks rise on China stimulus, upcoming rate action

REUTERS 2022-09-06 10:43:54

Asian shares rose on Tuesday morning after China pledged to make renewed efforts to boost its economy on Monday, while investors pinned hope on more clarity ahead of a number of central bank meetings....

Gas pipeline shutdown hits European markets

-- 2022-09-05 18:47:28

The euro was trading around $0.99185, down 0.4 per cent on the day. It slid during Asian trading hours and hit $0.9876 in early European hours, its lowest since 2002 EUR=EBS. Euro zone government bon...

Inflation hits record 9.1pc in countries using euro currency

-- 2022-08-31 17:44:42

Inflation in the European countries using the euro currency hit another record in August, fueled by soaring energy prices mainly driven by Russia’s war in Ukraine. Annual inflation in the euroz...