Sri Lanka is grappling with what is said to be its worst economic crisis since independence from the UK in 1948. It is caused in part by a lack of foreign currency, which is used to pay for fuel imports. People are languishing in long queues for fuel, cooking gas and endure power cuts lasting multiple hours.
The political experts said the ministers who resigned came under intense pressure from the public over the government's alleged "mishandling" of the economic crisis, triggered by the shortage in the foreign exchange reserve.
Internet users were unable to access Facebook, Twitter, YouTube, WhatsApp, and other social media platforms on Sunday in the economic crisis-hit nation. The ban has been lifted after 15 hours
To prevent unrest in the country, the Sri Lankan government has announced to impose a curfew from Saturday at 6 p.m. to Monday at 6 a.m.
President Gotabaya Rajapaksa has declared a nationwide public emergency amidst a spate of protests, including outside his house, over the worst economic crisis in the island nation.
Immediate neighbour to the island nation, India has come to rescue with nearly $2.5 billion financial assistance from January to purchase essential such as fuel, food, and medicines.
Disturbed over the news that the Peradeniya Teaching Hospital in Kandy has halted all surgeries, Jaishnakar directed the Indian High Commissioner to Sri Lanka, Gopal Baglay to find out how New Delhi could assist in resolving the issue.
Pakistan's unemployment has jumped from 5.8 per cent in 2017-18 to 6.9 per cent in 2018-19, according to the Labour Force Survey (LFS) published by the Pakistan Bureau of Statistics (PBS).
Afghanistan now is experiencing a collapse of administration and economy, rising food prices, restriction on basic freedom and brutalities against women and children. And there is no mechanism to seek redress or appeal, thus creating a hell-like situation for Afghan people.
At the Kabul airport, thousands are still gathering in hope of fleeing the country, even after a suicide attack on Thursday killed 169 Afghans and 13 U.S. service members and amid warnings of more attacks. The massive U.S.-led airlift is winding down, with many Western nations having completed their own evacuation efforts ahead of Tuesday’s deadline.
Thousands of protesters flocked the streets near the official residence of Prime Minister Netanyahu in central Jerusalem on Saturday night. The Israelis have taken to the streets to call on Netanyahu to resign, protesting his handling of the country's coronavirus crisis.
Economist Nouriel Roubini has warned of a prolonged downturn and sluggish recovery from the coronavirus. Nicknamed Dr Doom for his gloomy predictions, Professor Roubini said there are some jobs that simply will not come back after this crisis, the BBC reported on Friday.
The U.S. government’s top infectious disease expert issued a blunt warning Tuesday that cities and states could “turn back the clock” and see more COVID-19 deaths and economic damage alike if they lift coronavirus stay-at-home orders too fast -- a sharp contrast as President Donald Trump pushes to right a free-falling economy.
Some of President Donald Trump’s top economic advisers emphasized on Sunday the importance of states getting more businesses and offices open even as the pandemic makes its way to the White House complex, forcing three members of the administration’s coronavirus task force into self-quarantine.
Unemployment in the U.S. is swelling to levels last seen during the Great Depression of the 1930s, with 1 in 6 American workers thrown out of a job by the coronavirus, according to new data released Thursday.
With close to 3,000 deaths, more than 83,000 cases, several cities on lockdown, Coronavirus outbreak is beginning to look more like a worldwide economic crisis.
Even as Pakistan is grappling with economic crisis, Rs 34 crore (in Pakistani currency) has been spent to repair the plane of the Chief Minister of the country's Balochistan province, according to media reports.
Even as Pakistan is grappling with an economic crisis, Rs 34 crore (in Pakistani currency) has been spent to repair the plane of the Chief Minister of the country's Balochistan province, according to media reports.
A consortium of 14 public sector banks, led by the Bank of India on Friday initiated the process to recover staggering loans totally worth Rs 3,635.25 crore from a Mumbai-based defaulter, Frost International Ltd.
The BSE benchmark Sensex crashed nearly 770 points and the NSE Nifty tumbled over 225 points on Tuesday due to panic sell-offs across the board as investors fretted over deepening economic crisis and ever-lasting global trade tussle.
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