Greece to exit EU's 'enhanced surveillance' framework after 12 years.

Greece will exit the European Union's so-called enhanced surveillance framework on August 20, its finance minister said on Wednesday, a move that will allow the country greater freedom in making economic policy. Greek economic developments and policy have been monitored …

Share:

Read More

France is paying car drivers nearly $4,000 to switch to an electric bike.

France will now pay you €4,000 (nearly US $4,000) to swap your old polluting car for a cleaner, more efficient, and more city-appropriate electric bicycle. That marks a major increase in the incentive designed to improve French cities. Pedal bicycles are also included in the…

Share:

Read More

Jacqueline Fernandez named as accused in money laundering case.

India actess Jacqueline Fernandez has been named an accused in the money laundering case against conman Sukesh Chandrashekar, who faces charges of extortion amounting to a massive 2 Billion India Rupees. Jacqueline Fernandez has been named an accused in the supplementary cha…

Share:

Read More

U.S. partners with David Pieris Motor Company to boost electric mobility in Sri Lanka.

The U.S. government, through its development agency, the U.S. Agency for International Development (USAID), is committed to accelerating clean energy to drive social and economic sustainable growth in Sri Lanka. On August 16, Sri Lanka’s Minister of Power and Energy, Kanchan…

Share:

Read More

CSE’s ASPI moves up for 12th consecutive day.

The Colombo Stock Exchange (CSE) showed outstanding growth for the 12th consecutive day today (Aug 15), as the All Share Price Index (ASPI) gained 164.04 points to close at 9,191.52 points. As a percentage, this is an increase of 1.82 per cent. Meanwhile, the S&P SL20 ind…

Share:

Read More

Fuel is being issued only under QR code system from 01 August 2022.

The issuing of fuel under the National Fuel Pass or QR Code system commenced from midnight yesterday (31) at filling stations across the island. Accordingly, from today (August 01) onwards, fuel will be issued from all fuel stations across the island only under the QR code s…

Share:

Read More

Zimbabwe launches gold coins to stem inflation.

Zimbabwe has launched gold coins to be sold to the public, in a bid to curb an inflation spike that has eroded the country’s unstable currency. The move was announced by the country’s central bank, the Reserve Bank of Zimbabwe, which disbursed 2,000 coins to commercial banks…

Share:

Read More

Development Bank of Singapore Limited (DBS Bank) has been recognized as the ‘World’s Best SME Bank’.

Development Bank of Singapore Limited (DBS Bank) has been recognized as the ‘World’s Best SME Bank’ by Euromoney for the second time (the first time in 2018). The bank has established its position as a global industry leader in association with Small to Medium Enterprises (…

Share:

Read More

The World Bank appoints Former Director Indermit Gill as Chief Economist.

Indermit Gill, former director of the Duke Center for International Development, has been appointed as Chief Economist of the World Bank Group and Senior Vice President for Development Economics at multilateral development bank. Gill served as director of DCID from 2016 to 2…

Share:

Read More

India to overtake China as the most populous country.

The 2022 version of United Nations World Population Prospects was released during the second week of July. It said the world population will breach the eight billion mark on November 15 this year. And India will overtake China next year to become the world’s most populous na…

Share:

Read More

Zimbabwe to introduce gold coins as local currency tumbles.

Zimbabwe's central bank said it would start selling gold coins this month as a store of value to tame runaway inflation, which has considerably weakened the local currency. The central bank governor John Mangudya said in a statement on Monday that the coins will be avail…

Share:

Read More

Oil from U.S. reserves sent overseas.

Oil from U.S. reserves sent overseas as gasoline prices stay high. More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even a…

Share:

Read More

Russia in historic foreign debt defaul.

Russia has defaulted on its overseas debt for the first time in more than a century after missing a Sunday deadline, reports suggest. Russia has the money to make a $100m payment and is willing to pay, but sanctions made it impossible to get the sum to international creditor…

Share:

Read More

UK interest rates raised to 1.25% by Bank of England.

UK interest rates have risen further as the Bank of England attempts to stem the pace of soaring prices. Rates have increased from 1% to 1.25%, the fifth consecutive rise, pushing them to the highest level in 13 years. It comes as finances are being squeezed by the rising cos…

Share:

Read More

US makes biggest interest rate rise in almost 30 years.

The US central bank has announced its biggest interest rate rise in nearly 30 years as it ramps up its fight to rein in soaring consumer prices. The Federal Reserve said it would increase its key interest rate by three quarters of a percentage point to a range of 1.5% to 1.7…

Share:

Read More

People in Pakistan urged to drink fewer cups of tea.

People in Pakistan have been asked to reduce the amount of tea they drink to keep the country's economy afloat. Sipping fewer cups a day would cut Pakistan's high import bills, senior minister Ahsan Iqbal said. The country's low foreign currency reserves - current…

Share:

Read More

UNCTAD’s Annual World Investment Report 2022.

UNCTAD’s annual World Investment Report monitors global and regional foreign direct investment (FDI) trends and presents key national and international investment policy developments.  Every issue of the report includes a special analysis of investment trends’ implications f…

Share:

Read More

Bloomberg Billionaires Index

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. Details about the calculations are provided in the net worth analysis on each billionaire’s profile page. The figures are updated at the close of every trading day in New York. As of June 12, …

Share:

Read More

Travel & Tourism Development Index 2021.

The TTDI benchmarks and measures “the set of factors and policies that enable the sustainable and resilient development of the T&T sector, which in turn contributes to the development of a country”. The TTDI is a direct evolution of the long-running Travel and Tourism C…

Share:

Read More

Israel signs first Arab free trade agreement with UAE.

Israel has signed a free trade agreement with the United Arab Emirates, its first big trade accord with an Arab state and a move aimed at boosting trade between the two Middle Eastern nations. The pact was signed in Dubai by Israel’s Minister of Economy and Industry Orna Bar…

Share:

Read More