Economic Slump
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Pakistan Rupee Tumbles To Record As Military To Quell Unrest
Pakistan's rupee slumped to a new record low as the military stepped in to squash violent protests that erupted after former premier Imran Khan was arrested this week.
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Steadier Hands, Durable Companies to Steer Crypto in 2023, Predicts Circle CSO
Despite the ongoing slump in the crypto market, industry analysts are optimistic that this downturn has filtered out shaky and evidently risky firms from the already volatile industry, Circle CSO Dante Disparte said in a recent post for the World Economic Forum (WEF).
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Intel Cuts Full-Year Profit Forecast, Chipmaker Plans Layoffs as Firm Ramps Up Sales Into Data Centres
Intel on Thursday said that it had slashed its Q4 forecast for profit and revenue to reflect economic uncertainty that is expected to last into next year. The chipmaker is taking time to ramp up sales into data centres that fell 27 percent in the previous quarter, according to Intel CEO Pat Gelsinger. The company also said it would lay off staff as...
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Bybit Crypto Exchange Joins Coinbase, CryptoCom in Cutting Down Company Work-Force
Bybit, the Singapore-based crypto exchange, is laying-off its employees in order to cut costs during these times of economic slowdown. As of now, Bybit has not disclosed the exact number of employees that have been let go of. Meanwhile, a Bybit spokesperson has reportedly claimed that the company’s fundamentals ‘remain strong’, with over six ...
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India Tops Lankan Tourist Market Despite Slump Due To Ongoing Crisis
India has emerged as Sri Lanka's top inbound tourist market in May, even as there is a slump in the cumulative arrivals of holiday makers due to the ongoing economic and political situation in the country, the tourism authority here said on Tuesday.
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China's Retail Sales Lowest In 2 Years Amid Worst Covid Outbreak
China's retail sales slumped to its lowest in over two years while factory output plunged, official data showed Monday, capturing the dismal economic fallout from Beijing's zero-covid policy.
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Pakistan Secures $8 Billion Saudi "Package" During Shehbaz Sharif Visit: Report
Pakistan, which is grappling with an economic slump, has secured a "sizeable package" of around $8 billion from Saudi Arabia during the visit of Prime Minister Shehbaz Sharif, reported local media.
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Bitcoin, Ether See Profits As Crypto Market Shows Some Recovery Amid Economic Slowdown
Bitcoin and Ether opened with small gains, that positively impacted most altcoins. Amid US’ economic slump hinting at an approaching period of recession, crypto assets have emerged as safe havens, analysts say. Despite fiats getting weaker, cryptocurrencies such as Binance Coin, Terra, Cardano, Dogecoin, and Shiba Inu among others have been reeli...
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Sri Lanka Default Seen Inevitable As Bond Losses Deepen
Sri Lankan bonds slumped after protests against soaring inflation and lengthy power cuts led to a cabinet reshuffle, adding to concern political turmoil will hamper the government's ability to repay its debts in the face of a deepening crisis.
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Joe Biden's $1.2 Trillion Infrastructure Bill Passed Amid Approval Slump
Democrats rescued President Joe Biden's faltering domestic agenda Friday, passing a giant infrastructure package that is one of the pillars of his $3 trillion economic vision.
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MGNREGA Pulling Poor Out Of Pit Of Economic Slump Dug By PM Modi: Rahul Gandhi
Congress leader Rahul Gandhi on Thursday attacked Prime Minister Narendra Modi, saying it is MGNREGA that is pulling the poor out of the pit of economic slump that has been dug by the PM.
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Saudis Stock Up, Brace For Tripled VAT In Kingdom's Austerity Push
Saudis braced Wednesday for a tripling in value-added tax, another unpopular austerity measure after the twin shocks of coronavirus and an oil price slump triggered the kingdom's worst economic decline in decades.
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Indian Economy To Contract 5% In 2020-21, Says Fitch Ratings
Fitch Ratings on Tuesday forecast the Indian economy to contract 5 per cent in the current fiscal on account of slump in economic activities following a "very severe" lockdown that has lasted much longer than expected.
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India's Automakers Warn Of Up To 45% Sales Drop As Economy Slumps Amidst Pandemic
India's automakers have warned that total automobile sales could fall as much as 45% in the current fiscal year in a worst-case scenario as economic growth slumps due to the COVID-19 pandemic, and they are seeking government help through the crisis.
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227 New Coronavirus Cases In India, Sharpest Spike In A Single Day
Less than a week into the 21-day lockdown, the country saw the sharpest spike in coronavirus cases -- 227 people tested positive over the last 24 hours, taking the total to 1,251, health ministry data showed. Of the total cases, 102 people have been cured and 32 have died. Among the states, the biggest jump was reported from Delhi - the national ca...
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Pakistan Rupee Tumbles To Record As Military To Quell Unrest
Pakistan's rupee slumped to a new record low as the military stepped in to squash violent protests that erupted after former premier Imran Khan was arrested this week.
-
Steadier Hands, Durable Companies to Steer Crypto in 2023, Predicts Circle CSO
Despite the ongoing slump in the crypto market, industry analysts are optimistic that this downturn has filtered out shaky and evidently risky firms from the already volatile industry, Circle CSO Dante Disparte said in a recent post for the World Economic Forum (WEF).
-
Intel Cuts Full-Year Profit Forecast, Chipmaker Plans Layoffs as Firm Ramps Up Sales Into Data Centres
Intel on Thursday said that it had slashed its Q4 forecast for profit and revenue to reflect economic uncertainty that is expected to last into next year. The chipmaker is taking time to ramp up sales into data centres that fell 27 percent in the previous quarter, according to Intel CEO Pat Gelsinger. The company also said it would lay off staff as...
-
Bybit Crypto Exchange Joins Coinbase, CryptoCom in Cutting Down Company Work-Force
Bybit, the Singapore-based crypto exchange, is laying-off its employees in order to cut costs during these times of economic slowdown. As of now, Bybit has not disclosed the exact number of employees that have been let go of. Meanwhile, a Bybit spokesperson has reportedly claimed that the company’s fundamentals ‘remain strong’, with over six ...
-
India Tops Lankan Tourist Market Despite Slump Due To Ongoing Crisis
India has emerged as Sri Lanka's top inbound tourist market in May, even as there is a slump in the cumulative arrivals of holiday makers due to the ongoing economic and political situation in the country, the tourism authority here said on Tuesday.
-
China's Retail Sales Lowest In 2 Years Amid Worst Covid Outbreak
China's retail sales slumped to its lowest in over two years while factory output plunged, official data showed Monday, capturing the dismal economic fallout from Beijing's zero-covid policy.
-
Pakistan Secures $8 Billion Saudi "Package" During Shehbaz Sharif Visit: Report
Pakistan, which is grappling with an economic slump, has secured a "sizeable package" of around $8 billion from Saudi Arabia during the visit of Prime Minister Shehbaz Sharif, reported local media.
-
Bitcoin, Ether See Profits As Crypto Market Shows Some Recovery Amid Economic Slowdown
Bitcoin and Ether opened with small gains, that positively impacted most altcoins. Amid US’ economic slump hinting at an approaching period of recession, crypto assets have emerged as safe havens, analysts say. Despite fiats getting weaker, cryptocurrencies such as Binance Coin, Terra, Cardano, Dogecoin, and Shiba Inu among others have been reeli...
-
Sri Lanka Default Seen Inevitable As Bond Losses Deepen
Sri Lankan bonds slumped after protests against soaring inflation and lengthy power cuts led to a cabinet reshuffle, adding to concern political turmoil will hamper the government's ability to repay its debts in the face of a deepening crisis.
-
Joe Biden's $1.2 Trillion Infrastructure Bill Passed Amid Approval Slump
Democrats rescued President Joe Biden's faltering domestic agenda Friday, passing a giant infrastructure package that is one of the pillars of his $3 trillion economic vision.
-
MGNREGA Pulling Poor Out Of Pit Of Economic Slump Dug By PM Modi: Rahul Gandhi
Congress leader Rahul Gandhi on Thursday attacked Prime Minister Narendra Modi, saying it is MGNREGA that is pulling the poor out of the pit of economic slump that has been dug by the PM.
-
Saudis Stock Up, Brace For Tripled VAT In Kingdom's Austerity Push
Saudis braced Wednesday for a tripling in value-added tax, another unpopular austerity measure after the twin shocks of coronavirus and an oil price slump triggered the kingdom's worst economic decline in decades.
-
Indian Economy To Contract 5% In 2020-21, Says Fitch Ratings
Fitch Ratings on Tuesday forecast the Indian economy to contract 5 per cent in the current fiscal on account of slump in economic activities following a "very severe" lockdown that has lasted much longer than expected.
-
India's Automakers Warn Of Up To 45% Sales Drop As Economy Slumps Amidst Pandemic
India's automakers have warned that total automobile sales could fall as much as 45% in the current fiscal year in a worst-case scenario as economic growth slumps due to the COVID-19 pandemic, and they are seeking government help through the crisis.
-
227 New Coronavirus Cases In India, Sharpest Spike In A Single Day
Less than a week into the 21-day lockdown, the country saw the sharpest spike in coronavirus cases -- 227 people tested positive over the last 24 hours, taking the total to 1,251, health ministry data showed. Of the total cases, 102 people have been cured and 32 have died. Among the states, the biggest jump was reported from Delhi - the national ca...
