Category: Economy

12th April 2022

OPEC tells EU it’s not possible to replace potential Russian oil supply loss

OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to replace those volumes, and...

Economy

12th April 2022

Global shares retreat, but Paris gets a boost from vote

The Paris stock market and the euro received a boost on Monday from French President Emmanuel Macron’s election performance, with investors reassured about his re-election chances. New York, Frankfurt, London and Asian exchanges moved...

Economy

8th April 2022

IMF, Lebanon reach draft funding deal, subject to reforms

The International Monetary Fund (IMF) said on Thursday it had reached a draft funding agreement with Lebanon – but that Beirut needed to enact a batch of economic reforms first before its board decided...

Sri Lanka / Economy

8th April 2022

Sri Lanka opposition threatens no-confidence motion, industry warns of ‘precipice’

Sri Lanka’s main opposition party on Friday asked the government to resolve an economic crisis or face a no-confidence motion, as leaders of businesses from garments to tea and other industries warned that exports...

Oil Economy

1st April 2022

IEA to hold emergency meeting to tackle soaring oil prices

The International Energy Agency will hold an emergency meeting on Friday among consuming nations to discuss a new release of strategic reserves alongside a plan by the United States to pump massive supplies starting...

Sri Lanka / Economy / India / Opinion

30th March 2022

Explained: Sri Lanka’s Worst Economic Crisis is here

India is being celebrated in Sri Lanka after the former promises to help in what has constituted to be the island nation’s worst economic crisis. Sri Lanka is severely under debt with its foreign...

Oil Economy / China

28th March 2022

Oil falls as Shanghai lockdown boosts fears over weaker demand

Oil prices fell more than $3 on Monday as fears over weaker fuel demand in China grew after its financial hub of Shanghai launched a planned two-stage lockdown on Monday to contain a surge...

Oil Economy

22nd March 2022

Oil prices jump again as EU considers Russian oil ban

Oil prices jumped more than $3 on Monday, with Brent crude climbing above $111 a barrel, as European Union nations considered joining the United States in a Russian oil embargo and after a weekend...

India / Trade

9th March 2022

India signs deals to export 500,000 T wheat, as global prices surge

India has signed contracts to export about 500,000 tonnes of wheat in recent days, traders said, cashing in on a sharp rally in international prices and signalling a big uptick in overseas sales from...

Russia / Europe / Oil Economy

8th March 2022

Russia warns on oil import ban as little progress is made at Ukraine talks

Fears of an energy war between Russia and the West grew on Tuesday after the United States pushed its allies to ban Russian oil imports as punishment for Moscow’s invasion of Ukraine, where talks...