Economy

Although Akshant appears to be no different than any other tuk tuk driver in Sri Lanka, his earnings are three times more than those of his peers. This is due to the fact that he has been selling fuel on the illicit market despite their now being a major scarcity. The man, who was 59 years old, made the statement …

According to data released by the central bank on Friday, the Pakistani rupee gained 0.24 percent, which is equivalent to 57 paise, versus the United States dollar, and finished the day at 239.37. This comes after a two-week losing streak against the dollar. According to figures provided by the central bank, the value of the rupee decreased by around 5 …

The Federal Reserve hiked its overnight interest rate by three-quarters of a percentage point on Wednesday (July 27) to calm the most violent inflation since the 1980s. “Ongoing increases” in borrowing rates are still ahead despite signs of a weakening economy. “Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food, and energy prices, and broader …

On Wednesday, the Minister of Commerce of Thailand made the announcement that Thailand’s customs-based exports increased by a greater percentage than the projected 11.9 percent in June compared to the same month in the previous year. This gain was helped along by an increase in demand all across the world as well as a weaker baht on July 27. Exports, …

Annual growth in Singapore’s manufacturing output slowed to 2.2% in June, as declines in the semiconductor and pharmaceutical industries weighed on the industry. Data released by the Economic Development Board (EDB) on Tuesday, July 26th, showed that, when excluding biomedical manufacturing, factory output in June climbed 4.2% year over year. Growth in June was lower than the revised 10.4% year-over-year …

According to the statement made by the country’s Minister of Finance on Tuesday, it is anticipated that the economy of Thailand will rise by more than 4%, which will be helped along by a resurgence in the country’s significant tourist sector following an easing of pandemic restrictions. According to Minister Arkhom Termpittayapaisith’s statement to the press, Thailand’s ratio of public …

The head of the Philippine Central Bank has stated that there will not be another off-cycle interest rate adjustment. The head of the Philippine Central Bank stated on Tuesday that there would not be another off-cycle move on monetary policy tightening. At the same time, he indicated that there would be a rate hike of less than 75 basis points …

Amidst negotiations for an emergency US$4 billion package to assist it to emerge from an economic collapse, Sri Lanka has urged China for support with trade, investment, and tourism to help it expand sustainably, Colombo’s envoy to Beijing said on Monday, July 25th. Having depleted its foreign reserves, the island nation of 22 million people is experiencing its biggest economic …

Udenna Corporation, a Philippine conglomerate owned by a close associate of the country’s previous president, announced on Monday that a subsidiary of the company had paid a debt to prevent a default on other loans. This helped shares in related companies recover from huge losses that had occurred earlier. Udenna, one of the most rapidly expanding enterprises in the country, …

The Malaysian minister of commodities predicted on Monday, July 25th, that prices for crude palm oil would remain low for the majority of the third quarter of this year. His comments came shortly after a competing producer, Indonesia, eliminated its export levy. “This is inevitable in light of stiffer competition from Indonesia – the world’s largest palm oil producer – …