economic-crisis
Top StoriesBritons Face Rail Disruption as Workers Strike Over Cost-Of-Living Pressures
Top StoriesOnce Feted for Pandemic Heroics, World’s Central Banks Now Face an Uneasy Crowd
Top StoriesFactbox-Surging Food Prices Fuel Protests Across Developing World
Top StoriesSri Lanka President’s Brother, Basil Rajapaksa, Resigns From Parliament
Russia’s Economic Slump Will Wipe Out 15 Years of Gains – Iif
Date: June 8, 2022
LONDON (Reuters) -Russia’s economy will shrink 15% this year and 3% in 2023 as the hit from Western sanctions, an exodus of companies, a Russian “brain-drain” and collapse in exports wipe out 15 years of economic gains, a global banking industry lobby group said. In its report on the Russian economy following Moscow’s invasion of...
Brothers at Odds, but Ruling Family Still Holds Key to Sri Lanka’s Future
Date: June 8, 2022
By Alasdair Pal and Devjyot Ghoshal COLOMBO (Reuters) – It was the moment when two brothers who had dominated Sri Lanka’s politics for nearly 20 years finally went their separate ways. On May 9, when a crowd of ruling party supporters marched towards activists protesting against a crippling economic crisis, President Gotabaya Rajapaksa ordered police...
Ukraine Rebases Businesses From War Front to Shield Vital Producers
Date: June 6, 2022
By Natalia Zinets KYIV (Reuters) – Oleg Averyanov’s factory produced fire trucks and employed 600 people until it was forced to halt operations and close its doors as a Russian invasion force poured over the border into his region in northeastern Ukraine on Feb. 24. Months later, the 44-year-old is gearing up to restart some...
Lebanese Security Chief Fears Political Paralysis, Social Collapse
Date: June 3, 2022
BEIRUT (Reuters) – A senior Lebanese security official has said the risk of political paralysis has increased since an election produced a fractured parliament last month, warning of a possible “disaster” because there is no majority to legislate. Major General Abbas Ibrahim also said he was concerned about social instability, saying this worried him more...
Turkish Inflation Soars to 73%, Highest Since 1998
Date: June 3, 2022
By Ezgi Erkoyun and Nevzat Devranoglu ISTANBUL (Reuters) – Turkey’s annual inflation rate jumped to a 24-year high of 73.5% in May, fuelled by the war in Ukraine, rising energy prices and a tumbling lira — though the figure was slightly lower than economists had feared. Inflation has surged since last autumn, when the lira...
Sri Lanka’s Prime Minister Takes on Crucial Finance Ministry Portfolio
Date: May 25, 2022
By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka’s Prime Minister Ranil Wickremesinghe will hold dual charge as finance minister, the president’s office announced on Wednesday, and will lead talks with the International Monetary Fund (IMF) as the crisis-hit nation seeks a bailout. “Prime Minister Ranil Wickremesinghe was sworn in as finance, economic stabilisation and national policies...