Inflation-ridden Nepalis hit by record hike in petroleum prices
Adding to the inflation-caused woes, experts say prices have been hiked sharply at a time when the country’s economic indicators—from farming to trade—are at their worst.
Economy
$1.5 billion package launched to help Singaporeans cope with inflation
The package will also provide a $100 utilities credit to every Singaporean household and extend more help to local companies, among other measures.
26,000 provincial bus workers lose jobs due to rising fuel prices
Only 20 to 30 percent of provincial buses are currently operating, with some 26,000 to 28,000 workers, including drivers, conductors, and ticket sellers affected.
Sports car sales accelerating in Japan
Observers say the uptick is especially notable among people who enjoy spending money on their hobbies and are looking for ways to avoid crowds amid the Covid-19 pandemic.
Hong Kong’s May inflation up 1.2%
Netting out the effects of the government’s one-off relief measures, the year-on-year rate of increase in May was 1.7 per cent, while price drops were seen for gas and water.
It’s too late to tame inflation with rate hikes
The writer says collateral damage to the global economy may be too severe for tightening to be sustained.
For Pakistan, the only way out of the current economic crisis is through the IMF
The paper says if the government’s finance team finds itself in a tight spot now or farther from an IMF deal on the sustainability of its budget, it has only itself to blame.
‘Some decisions may seem bitter’, says PM Modi amid Agnipath protests
PM Modi also maintained that the double engine government of the BJP was constantly working towards ease of living as well as ease of doing business.
Pakistan finance minister hopeful of IMF agreement within ‘1 or 2 days’
So far, Pakistan and the IMF have not yet been able to reach close to a staff-level agreement for revival of the loan programme.
Philippine peso hits 54.065 per 1 US dollar, weakest since Oct 2018
The local currency’s continued depreciation further confirms international banks and economic consultancies’ predictions, citing a widening trade deficit.