The Independent says SRI LANKA’S ECONOMY has “completely collapsed”, leaving it unable to buy imported fuel, the country’s prime minister has said.
Aljazeera says Elon Musk was sued for $258bn on Thursday by a Dogecoin investor who accused him of running a pyramid scheme to support the cryptocurrency.
The Independent says Britain is on the brink of a painful recession as prices continue to rise rapidly and the economy records zero growth next year, according to new analysis.
BBC News says Boris Johnson has promised to get the country “back on track” as the government unveils its plans for the year ahead in the Queen’s Speech.
Aljazeera says a US court’s latest ruling in a case pitting Indonesian villagers against one of the world’s most powerful oil companies was unusual enough to raise eyebrows.
The Metro says Brits face a further squeeze on their household incomes after the rate of inflation rose to another 30-year high.
The Guardian says the rising price of food caused by Russia’s invasion of Ukraine and increased energy costs could push a quarter of a billion more people into extreme poverty, Oxfam has warned.
Aljazeera says Gotabaya Rajapaksa has revoked a state of emergency after dozens of MPs walked out of the ruling coalition, which has been struggling to quell protests over economic downturn.
Aljazeera says Sri Lanka has announced nationwide 13-hour daily power cuts from Thursday and more hospitals suspended routine surgeries after running out of life-saving medicines.
Euronews says Spain is readying a package of emergency economic measures worth €6 billion in direct aid and tax breaks and €10 billion in loans for families and businesses.
Aljazeera says China will allow local and foreign investors access to more sectors of the economy after cutting its so-called negative list for market access.
Arab News says Oil breached $100 a barrel for the first time since 2014 on Feb. 24 and gold is up, while cyrptocurrencies —Bitcion and Ether — are sinking.
France24 says Turkey’s annual inflation rate surged to its highest level since 2002 propelled by a currency crisis linked to President Erdogan’s unconventional economic approach.
The economy grew by just 0.1% in July as the last Covid restrictions were lifted in England. It marked the UK economy’s sixth consecutive month of growth.
Sterling rises as speedy vaccine rollout creates optimism Sterling is higher against both the euro and the dollar on Monday as the fast vaccine rollout
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