India is expected to face a wider coal shortage during the quarter ending September over expectations of higher power demand, an internal power ministry presentation seen by Reuters showed, worsening risks of widespread power outages. The energy-hungry nation expects local coal supply to fall 42.5 million tonnes short of demand … Read more
Dallas-based Southwest said it expected second-quarter revenue to be up 12 to 15 per cent © AP Airline shares rallied as investors were encouraged by optimism around summer travel after US carriers Southwest Airlines and JetBlue Airways raised their guidance for the second quarter. Shares in Southwest were up 6 per cent, while JetBlue rose … Read more
Stung by criticism of his Spring Statement, Rishi Sunak has engaged in some “serious redistribution from rich to poor” in his latest package of measures to address the cost of living crisis, analysts say — imperilling his ability to brand himself a low-tax chancellor. Here, the Financial Times examines how the new support will help … Read more
Moscow is ready to make a “significant contribution” to averting a looming food crisis if the West lifts sanctions imposed on Russia over Ukraine, President Vladimir Putin said in a telephone call with Italy’s Prime Minister Mario Draghi. “Vladimir Putin emphasises that the Russian Federation is ready to make a significant contribution to overcoming the … Read more
The only thing India can possibly do during this year’s global food crisis is to not make it any worse for its own poor. As the cost of basic nutrition balloons everywhere, the second-most-populous nation’s best bet is to fall back on its extensive system of state procurement and public distribution to … Read more
NEW DELHI: Worries over Sri Lanka operations, which accounted for 17 per cent of FY22 sales, have weighed heavily on shares of recent debutant . While analysts do see the issue to impact the profitability of the non-exclusive franchise of YUM! brands (in India and Sri Lanka) in the short term, they are finding comfort … Read more
The European Commission has drawn up a “contingency plan” for transport to help deal with future crises following the Covid-19 pandemic and the Russian invasion of Ukraine. The commission said that the plan “draws lessons” from the pandemic and looks to improve the “resilience” of transport services across the EU for the next crisis. Transport … Read more
Viktor Orbán has declared a state of emergency, giving his government rights to rule by decree in response to an “economic crisis” caused by war in neighbouring Ukraine and sanctions against Russia. Hungary’s prime minister will set out measures to be adopted on Wednesday, after parliament — which is dominated by Orbán’s Fidesz party following … Read more
The Sri Lankan Cabinet has approved seeking a 500 million dollar loan from the Exim Bank of India for the purchase of petroleum products amid a severe foreign exchange crisis in the island nation. Sri Lanka has been mulling different options to facilitate measures to prevent fuel pumps from going … Read more
5/5 © Reuters. A man waits inside a three-wheeler near a line to buy petrol from a fuel station, amid the country’s economic crisis, in Colombo, Sri Lanka, May 23, 2022. REUTERS/Dinuka Liyanawatte 2/5 By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka increased fuel prices on Tuesday, a long-flagged move to mend public finances and combat … Read more