Billionaire Elon Musk, the CEO of Tesla, admitted at the TED2022 conference in Vancouver that he is “not convinced” he will be able to purchase Twitter. Hours earlier, a regulatory filing indicated that he had made a bid to buy… Read More ›
Economy & Finance
Covid Deaths In Ahmedabad, India, May Have Been Grossly Undercounted, Say Reports
According to government data, when COVID-19 infections surged in India in April and May of last year, the western city of Ahmedabad officially recorded at least three times as many total deaths in those two months than in the previous… Read More ›
As Prices Rise, India’s Central Bank Shifts Its Priority From Growth To Combatting Inflation
Analysts told CNBC that inflation in India has risen dramatically and that there are signals that it will continue to rise. Retail inflation jumped 6.95 per cent in March from a year ago, according to data provided by India’s Statistics… Read More ›
Australia extends sanctions to 14 Russian state owned entities
In a statement Australian Foreign Minister Marise Payn said, Canberra has imposed targeted financial sanctions on 14 Russian state-owned enterprises, including defence-related entities such as Kamaz, a truckmaker, and shipping companies SEVMASH and United Shipbuilding Corp. It has also extended… Read More ›
Scarcity Of Resources From Ukraine Causes Supply Crisis For European Cosmetics
As Russia’s invasion of Ukraine causes significant disruptions in the supply chains for beauty products, European perfume and cosmetics companies are facing shortages of paper, glass, and some critical oils and alcohols, forcing prices upwards amid strong demand. The $500… Read More ›
US Inflation Hits 40-Year High Due To Rising Fuel Costs
After fuel costs skyrocketed during the first full month of the Ukraine war, the US inflation rate hit a new 40-year high in the year to March. Following a double-digit jump in energy prices, consumer prices increased by 8.5 per… Read More ›
Nepal Imposes Curbs On Luxury Imports As Its Foreign Currency Reserves Get Lower
Following a decline in its foreign currency reserves, Nepal has imposed import restrictions on non-essential products such as vehicles, cosmetics, and gold. It comes as the government’s debt has risen due to a drop in tourism expenditure and money returned… Read More ›
Two New Omicron Covid Sub-Variants Being Analysed By WHO
The World Health Organization announced on Monday that it is closely monitoring a small number of cases of two novel sub-variants of the highly transmissible Omicron coronavirus strain with the aim of ascertaining whether they are more infectious or harmful… Read More ›
Honda allocates $64 billion towards R&D in electrification drive
On Tuesday, in a statement Honda Motor Co Ltd said, it plans on spend $64 billion on R&D over a span of 10 years. The development marks the Japanese giant laying out its ambitious target to roll out 30 electric vehicle… Read More ›
Surging Treasury bond yields drag down Wall Street
Wall Street closed sharply lower on Monday with rising bond yields acting as a drag on the market’s growth stocks, ahead of the launch of crucial inflation data. All three major U.S. stock indexes ended deep in negative territory, with… Read More ›
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