The prime minister of Sri Lanka says that the economic chaos hit island nation would require at least $5 billion over the next six months to pay for vital supplies amid the country facing its worst economic crisis in more than 70 years. Ranil Wickremesinghe informed...

Central banks bought 19.4 tons of gold in April, according to the World Gold Council. As a result, after selling precious metals in March, the world's central banks have resumed purchasing it. Then, on 9,4 tons, sales outpaced purchases. Uzbekistan was the top gold buyer in April, replenishing...

According to Reuters, Norwegian oil workers' unions plan to strike on June 12 if they cannot agree on a wage hike, which could result in a partial shutdown of oil production. Workers want salary increases that are higher than inflation. They are also asking other contract revisions, although the...

Amid the hoopla surrounding US Vice President Joe Biden's new Indo-Pacific strategy, China went unnoticed and conducted a high-level meeting on RCEP, the world's largest trade treaty.   It happened only days after the Biden administration unveiled the Indo-Pacific Economic Framework, or IPEF...

Following concerns that its decision to limit wheat exports could worsen the global food supply situation in the aftermath of the Ukraine war, India has defended its decision to import a ban on export of the grain.   "If everyone starts to impose export restrictions... that would worsen the...

Fearing that local authorities may impose a restriction on the sale of the wheat outside the nation, global traders are increasing their purchases of Indian rice, according to Reuters, which cited sources. The Indian government had previously imposed a similar ban on the export of wheat. In...

The European Union has established a duty-free system for Ukrainian goods that will last until June 5, 2023. This is stated in the official gazette of the European Union. "This regime takes effect the next day after it is published in the EU's official gazette. It will remain in effect until June...

Citigroup Inc Chief Executive Jane Fraser said on Friday that Europe was more likely than the United States to enter a recession, joining other major bank CEOs this week in warning about the global economy's health.   Fraser, the CEO of the third-largest and most globally focused bank in the...

Mint reported, citing government officials, that India may soon initiate discussions with Russia, Australia, Indonesia, and South Africa to import coal at a subsidized rate as an emergency measure to avert fuel shortages at the country's power plants and develop reserves. "The government is...