Business

Asian shares bounce back, shrugging off inflation concerns

A currency trader walks by the screen showing the Korea Composite Stock Price Index (KOSPI) at a foreign exchange dealing room in Seoul, South Korea, Friday, May 13, 2022. Asian shares bounced back Friday from losses earlier in the week, shrugging off data showing U.S. wholesale prices soared 11% in April from a year earlier.

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UK economy shrinks in March as recession risks mount

General view of the Bank of England, in London(AP Photo/Alberto Pezzali) By Reuters Britain’s economy unexpectedly shrank in March, marking a weak end to the first quarter of a year when the risk of recession is looming and increasing pressure on the government to offer more support to inflation-hit households. Gross domestic product fell 0.1%

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World continues to grapple with high inflation

By Anadolu Agency The Russia-Ukraine war has wreaked havoc on commodity and energy prices and countries around the world are struggling with high inflation, which is hitting record levels. After a tough two years due to the coronavirus pandemic, the world economy was expected to recover quickly, but the war caused new problems for global

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Germany’ inflation hits all-time high for 2nd month in a row

By Anadolu Agency The inflation rate in Germany hit 7.4% year-on-year in April, up from 7.3% in March, official data showed on Wednesday. “The inflation rate thus reached an all-time high for the second month in a row since German reunification,” Georg Thiel, president of the Federal Statistical Office (Destatis), said in a written statement.

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Chelsea sold to group fronted by LA Dodgers part owner

Soccer Football – Premier League Stamford Bridge, London, Britain Reuters/Chris Radburn By The Associated Press Chelsea is being sold to a consortium fronted American sports investor Todd Boehly, ending 19 years of ownership and lavish investment by Roman Abramovich until the Russian oligarch was sanctioned and forced to offload the Premier League club. The deal

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What will Rishi Sunak do about the cost of living crisis?

UK Chancellor of the Exchequer Rishi Sunak : Credit to Photograph Toby Melville/Reuters The Guardian By Richard Partington The pressure is mounting for Rishi Sunak – the question is when will he crack? After the Bank of England warned the economy was heading for a recession caused by the cost of living crisis, with inflation

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Bank of England expected to raise interest rates again

General view of the Bank of England, in London, Monday, May 2, 2022. The Bank of England is expected to increase rates from 0.75% to 1%, the highest level since early 2009. (AP Photo/Alberto Pezzali) By The Associated Press The Bank of England is expected to raise its key interest rate to the highest level

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Top 10 Richest Presidents in Africa 2022

File Photo: Rwanda’s President Paul Kagame Reuters/Michaela Rehle By The African Exponent When someone hears “African leaders”, the one impression that comes to their mind is corruption. Bribery and corruption have been a consistent practice of most African leaders with a history of fraudulent scandals – there are plenty of them and it doesn’t seem

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Taiwan considers alternatives after U.S. informs of howitzer delay

U.S. Army M109A6 Paladin self-propelled howitzers are seen during a military exercise in Pocheon, South Korea, Reuters/Kim Hong-Ji/File Photo By Reuters Taiwan’s Defence Ministry said on Monday it was considering alternative weapons options after the United States informed it that the delivery of an artillery system would be delayed due to a “crowded” production line.

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Saudi, Pakistan to discuss possible support for kingdom’s $3 billion deposit

Saudi Crown Prince Mohammed bin Salman meets Pakistan’s Prime Minister Shehbaz Sharif upon his arrival in Jeddah, Saudi Arabia, April 29, 2022. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via Reuters By Reuters Saudi Arabia and Pakistan will discuss the possibility of supporting the kingdom’s $3 billion deposit in Pakistan’s central bank by extending its term

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