Economic Crisis
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Sri Lanka crisis: Rajapaksa’s grip on power weakens; Finance Minister resigns within 24 hours
World | Apr 05, 2022, 04:38 PM ISTPresident Rajapaksa had appointed Sabry after sacking his brother Basil Rajapaksa, who was at the center of anger within the ruling Sri Lanka Podujana Peramuna (SLPP) coalition. In a letter to the President, Sabri said that he took up the job as part of a temporary measure.
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Sri Lanka crisis: President Rajapaksa invites Oppn to join govt - 10 latest updates
World | Apr 04, 2022, 05:28 PM ISTSri 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.
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Sri Lanka's Cabinet Ministers resign with immediate effect amid economic crisis
World | Apr 04, 2022, 07:03 AM ISTThe 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.
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Sri Lanka economic crisis: Social media restored, Oppn protests state of emergency | 10 developments
World | Apr 03, 2022, 06:02 PM ISTInternet 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
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Indian troops headed to Sri Lanka? Here's what Indian High Commission says
India | Apr 03, 2022, 11:35 AM ISTTo 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.
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As Lanka faces its worst economic crisis, emergency declared; India offers helping hand | 10 points
World | Apr 02, 2022, 04:08 PM ISTPresident 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.
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Sri Lanka economic crisis: 13-hour long power cuts, fuel shortage force thousands to protest
World | Dec 27, 2022, 03:30 AM ISTImmediate 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.
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Jaishankar offers help after hospital in Sri Lanka suspend surgeries due to medicine shortage
India | Mar 29, 2022, 04:41 PM ISTDisturbed 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.
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Pakistan's economic crisis gift of past rulers? Minister Fawad Chaudhry claims so
World | Oct 10, 2021, 07:02 AM ISTPakistan'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).
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Afghanistan heads towards devastating economic and humanitarian crisis
India | Sep 06, 2021, 10:40 PM ISTAfghanistan 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.
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Afghanistan's economic crisis deepens as airlift winds down
World | Aug 28, 2021, 04:26 PM ISTAt 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.
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Thousands of protesters throng Israel PM Netanyahu's residence; demand resignation
World | Aug 09, 2020, 07:51 AM ISTThousands 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.
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Leading economist Nouriel Roubini warns of 10 years of depression, debt due to COVID-19
World | May 23, 2020, 07:40 AM ISTEconomist 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.
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More deaths, economical damage if US reopens too fast, warns Fauci
World | May 13, 2020, 10:23 AM ISTThe 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.
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Trump's advisers cite need to stop ‘permanent’ economic toll
World | May 11, 2020, 09:43 AM ISTSome 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.
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Coronavirus pushes US unemployment toward highest since Depression
World | Apr 24, 2020, 10:39 AM ISTUnemployment 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.
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Coronavirus beginning to emerge as worldwide economic crisis
Business | Feb 29, 2020, 02:00 PM ISTWith 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.
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Pakistan spent Rs 34 cr on Balochistan CM's plane repair
World | Dec 30, 2019, 07:33 AM ISTEven 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.
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Rs 34 crore spent on a Pakistani CM's plane repair
World | Dec 29, 2019, 08:25 PM ISTEven 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.
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14 banks struggle to recover Rs 3,635 cr from Mumbai firm
Business | Sep 20, 2019, 06:54 PM ISTA 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.