China’s economy contracted sharply in the second quarter of this year as widespread coronavirus lockdowns hit businesses and consumers. Gross domestic product (GDP) fell by 2.6% in the three months to the end of June from the previous quarter. Major cities across China, including the major financial and manufacturing centre…
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We’ve covered this topic in the past when the world’s GDP was $88 trillion (2020) and then $94 trillion (2021), and now according to the latest projections, the IMF expects the global economy to reach nearly $104 trillion in nominal value by the end of 2022. Although growth keeps trending upwards, the recovery that was expected…
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IMF funds will help avert a potential default and pave the way for more aid from other institutions, friendly nations. Pakistan has reached a staff-level agreement with the International Monetary Fund, a milestone that would pave the way for the release of an additional $1.2 billion in loans and unlock…
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Billions of dollars a year in corruption by British America Tobacco. The British American Tobacco Company is selling old-priced packs of cigarettes at new prices. After increasing the price in the budget, it has been making more profit by selling old cigarettes at a higher price for a month; At…
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Heathrow Airport has told airlines to stop selling summer tickets, as the UK’s biggest airport struggles to cope with the rebound in air travel. The airport is limiting the number of passengers who can depart each day over the peak summer months to 100,000, 4,000 fewer than currently scheduled. The…
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The price of airline tickets will go up “without doubt” as fuel costs rise, an air industry boss has warned. Oil prices have jumped as economies recover from the Covid pandemic and due to the war in Ukraine. These costs will be passed on to consumers, Willie Walsh, director general…
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Since Russia invaded Ukraine, global oil prices have skyrocketed, prompting some countries to seek imports of discounted Russian crude Sri Lanka’s president says he urged his Russian counterpart to help his cash-strapped island nation import fuel as it faces its worst economic crisis in decades. Short of foreign exchange due…
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The G7 would need to get large consumers like India and China involved for such a plan to work. As military battles continue in the Ukraine war, the parallel skirmish over energy continues to escalate, with the West announcing plans for price caps to try and stem Russia’s soaring oil revenues…
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Argentina’s economy minister, Martin Guzmán, has resigned as the country’s economic crisis intensifies. Mr Guzmán had been in office since late 2019 and led negotiations with the International Monetary Fund (IMF) over the restructuring of Argentina’s debt. He called for “a political agreement within the governing coalition” to choose his…
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Some plaintiffs were assigned to the most physically demanding posts or passed over for promotion, the lawsuit said. Fifteen Black former or current employees at Tesla filed a lawsuit against the electric-car maker on Thursday, alleging they were subjected to racial abuse and harassment at its factories. The workers said…
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