Business

Sri Lanka’s economic crisis has turned into deadly violence. Eight people died and over 200 were injured on Monday, the country’s powerful prime minister quit and his brother, the president, is seeking ways out of the chaos. Anti-government protesters angry over power blackouts, shortages of basic goods and rising prices …

LONDON: President Vladimir Putin’s rouble payment scheme for natural gas is the prototype that the world’s largest country will extend to other major exports because the West has sealed the decline of the US dollar by freezing Russian assets, the Kremlin said. Russia’s economy is facing the gravest crisis since …

Riyadh is in active talks with Beijing to trade some of its oil sales to China in yuan, Wall Street Journal quoted sources familiar with the matter as saying, a move that would dent the US dollar’s dominance of the global petroleum market and mark another shift by the world’s …

NEW DELHI: Russia urged India to deepen its investments in the sanction-hit country’s oil and gas sector, and is keen on expanding the sales networks of Russian companies in Asia’s third-largest economy. Russia’s economy faces its deepest crisis since the 1991 collapse of the Soviet Union, as the West imposes …

Bank has devised strategic plans to enhance its performance: MD & CEO Srinagar, Feb 8 (GNS): J&K Bank Net Profit has witnessed steep rise of 164%YoY in the December Quarter of FY 2021-22. The bank stated this after its Board of Directors reviewed and approved the numbers for third quarter …

Prime Minister Imran Khan on Friday held meetings with a number of representatives of major Chinese companies, paving the way for billions of dollars worth of Chinese investment into the country. The prime minister arrived in Beijing on Thursday to attend the opening ceremony of the Winter Olympics and meet …

Turkish President Recep Tayyip Erdogan has sacked the head of the state statistics agency, according to a decree published on Saturday, after data showed last year’s inflation rate hit a 19-year high of 36.1 per cent. Sait Erdal Dincer was just the latest in a series of economic dismissals by Erdogan, …

ISTANBUL: Turkey’s troubled lira nosedived on Monday after President Recep Tayyip Erdogan cited Muslim teachings to justify not raising interest rates to stabilise the currency. Erdogan has pushed the central bank to sharply lower borrowing costs despite the annual rate of inflation soaring to more than 20 per cent. Economists …

SAO PAULO: Brazil, the world’s largest exporter of foodstuffs like coffee, beef and soybeans, is keen to increase farm product exports to Islamic countries, said Flavio Bettarello, deputy trade secretary at the Agriculture Ministry. Speaking at the Global Halal Brazil business conference in Sao Paulo on Monday, Bettarello told delegates …

KARACHI: The State Bank of Pakistan’s (SBP) Annual Report 2020-21 shows that Pakistan’s leather industry contracted significantly in FY21 which demands serious attention of the policymakers. Although the leather industry of Pakistan has been underperforming for the past several years but the last two years have been particularly alarming for …