Fuel Crisis

Germany switched off its last three nuclear reactors on Saturday, exiting atomic power even as it seeks to wean itself off fossil fuels and manage an energy crisis caused by the war in Ukraine.

Shares in Deutsche Bank fell heavily on Friday on the lender's surging cost of default cover, reigniting fears about a widening banking sector crisis.

Consumer prices rose significantly in the outgoing week on the back of onions, chicken, eggs, rice, cigarettes and fuel, official data showed on Friday, driving the weekly inflation to over 40 per cent for the first time in over five months.

Cuba has warned drivers of state-owned cars to pick up people at bus stops or face prosecution, as Havana faces painful shortages of diesel fuel, authorities said this week.

Pakistan's moves to loosen its grip on the currency and increase fuel prices indicate that the beleaguered nation is finally taking the unpopular decisions needed to secure the $6.5 billion bailout program from the IMF.

When Sri Lanka slid into its worst economic crisis in seven decades leading to deadly riots and alarming shortages of fuel, food and medicines earlier this year, India stepped into the breach.

The state is one of several to announce measures to help households in the midst of a cost-of-living crisis after food and fuel prices surged in the wake of Russia's invasion of Ukraine.

Millions of Britons are skipping meals in current the cost-of-living crisis, a consumer group warned Thursday, having already forecast that many risk fuel poverty after the UK curbed its energy price freeze.

Europe is facing an energy crunch as the price of electricity generation skyrockets because of a massive surge in gas prices caused by Russia turning off the taps.

Sri Lanka's economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation's most severe financial crisis in more than seven decades.

New British Prime Minister Liz Truss on Thursday said domestic fuel bills would be frozen for two years, marking her first week in office with a costly plan to tackle a worsening cost-of-living crisis.

As the sun rose over Sri Lanka one morning in late August, around a dozen fishermen were laying out their nets on a beach in Mannar, a small island just off the country's northwestern coast, the start of the day's work.

At a time when Sri Lanka is facing a severe economic crisis and a steep currency depreciation, India on Thursday urged its nationals living in Sri Lanka to exercise caution and examine the currency convertibility and fuel situation.

Oil prices slipped on Friday and were near their lowest levels since February as concerns over a possible recession and a fall in fuel demand continued to rattle markets.

Sri Lanka will restrict fuel imports for the next 12 months as it is facing a severe shortage of foreign exchange, Minister of Power and Energy Kanchana Wijesekera has said while announcing a rationing system.

Germany switched off its last three nuclear reactors on Saturday, exiting atomic power even as it seeks to wean itself off fossil fuels and manage an energy crisis caused by the war in Ukraine.

Shares in Deutsche Bank fell heavily on Friday on the lender's surging cost of default cover, reigniting fears about a widening banking sector crisis.

Consumer prices rose significantly in the outgoing week on the back of onions, chicken, eggs, rice, cigarettes and fuel, official data showed on Friday, driving the weekly inflation to over 40 per cent for the first time in over five months.

Cuba has warned drivers of state-owned cars to pick up people at bus stops or face prosecution, as Havana faces painful shortages of diesel fuel, authorities said this week.

Pakistan's moves to loosen its grip on the currency and increase fuel prices indicate that the beleaguered nation is finally taking the unpopular decisions needed to secure the $6.5 billion bailout program from the IMF.

When Sri Lanka slid into its worst economic crisis in seven decades leading to deadly riots and alarming shortages of fuel, food and medicines earlier this year, India stepped into the breach.

The state is one of several to announce measures to help households in the midst of a cost-of-living crisis after food and fuel prices surged in the wake of Russia's invasion of Ukraine.

Millions of Britons are skipping meals in current the cost-of-living crisis, a consumer group warned Thursday, having already forecast that many risk fuel poverty after the UK curbed its energy price freeze.

Europe is facing an energy crunch as the price of electricity generation skyrockets because of a massive surge in gas prices caused by Russia turning off the taps.

Sri Lanka's economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation's most severe financial crisis in more than seven decades.

New British Prime Minister Liz Truss on Thursday said domestic fuel bills would be frozen for two years, marking her first week in office with a costly plan to tackle a worsening cost-of-living crisis.

As the sun rose over Sri Lanka one morning in late August, around a dozen fishermen were laying out their nets on a beach in Mannar, a small island just off the country's northwestern coast, the start of the day's work.

At a time when Sri Lanka is facing a severe economic crisis and a steep currency depreciation, India on Thursday urged its nationals living in Sri Lanka to exercise caution and examine the currency convertibility and fuel situation.

Oil prices slipped on Friday and were near their lowest levels since February as concerns over a possible recession and a fall in fuel demand continued to rattle markets.

Sri Lanka will restrict fuel imports for the next 12 months as it is facing a severe shortage of foreign exchange, Minister of Power and Energy Kanchana Wijesekera has said while announcing a rationing system.