Economy - Page 4

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…

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…

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…

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…

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…

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…

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…

Anti-abortion groups say that the US economic system is broken if women feel like they have to choose ‘between sacrificing their education and career and sacrificing their children’. The United States Supreme Court’s overturning of Roe v Wade, the nearly 50-year-old landmark decision that recognised women’s right to abortion, will…

In 1997 Hong Kong was handed back to China, triggering the start of a grand political experiment. Many were anxious about how the capitalist, free-wheeling former British colony would fare under Communist Chinese rule. So Beijing promised Hong Kong’s civil liberties and freedom – unavailable in the mainland – would…