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Explainer: How Sri Lanka spiralled into crisis

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 …

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Russia seeks Indian investment in its oil and gas sector

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 …

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Erdogan sacks statistics chief after record inflation

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, …

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Brazil eyes $1.17 trillion halal food market

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 …

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Leather sector issues need immediate attention

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 …

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