Colombia faced with the presidential choice between leftist and populist

Bogotá Colombia — Colombians can count on one thing: the country’s presidential policy will change radically after Sunday’s second round of elections. The contest in the South American country is running out of favorites and offers voters a choice between the man who could become the first leftist to lead the nation and a populist … Read more

Everyone knows inflation is on fire. Here’s what really powers it

Meat is seen in a supermarket as rising inflation affects consumer prices in Los Angeles, California, June 13, 2022. Lucy Nicholson | Reuters Inflation doesn’t just happen at the gas pump and the grocery store. There are literally hundreds of avenues that filter into broader metrics that the government uses to assess price increases. The … Read more

Anger simmers over official’s call for Pakistanis to cut back on tea consumption to help restore economy

Men drink tea at a restaurant in Islamabad, Pakistan on June 15, 2022. AAMIR QURESHI/AFP/Getty Islamabad, Pakistan — Black, green, hot, cold or spicy, tea is the fuel and lubricant for almost all social interactions in Pakistani society. Whether it’s celebrating a wedding, making a business deal, or simply relaxing with friends and family, Pakistanis … Read more

Switzerland raises interest rates by half a point amid inflation fears

GENEVA – The Swiss central bank on Thursday announced a half-percentage-point increase in a key interest rate, the first increase in nearly 15 years. He said the move was an attempt to stave off inflationary pressures as food and fuel prices rise around the world. The Swiss National Bank said the rate hike would take … Read more

High gas prices dampen driver spending at the pumps

NEW YORK — Soaring gas prices have left many consumers with no choice but to cut back on non-essential spending, but the circle could be closed by preventing some drivers from filling up. This “demand destruction” occurs when consistently high prices cause demand to fall. It’s an unfortunate sign, as consumers are facing the highest … Read more

A day after Powell’s assurances, markets fear something is about to break

Federal Reserve Board Chairman Jerome Powell speaks to reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a a press conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, United States, June 15, 2022. Elizabeth … Read more

Emirates News Agency – Dubai to host World Free Zones Organization annual international exhibition and conference next year

Thursday, June 16, 2022 – 6:10 p.m. Jamaica, Jun 16 / WAM / The World Free Zones Organization has announced that Dubai will host the ninth session of the organization’s annual international exhibition and conference to be held next year, after handing over the banner of the conference to the representatives of the free zones … Read more

Stock futures fall after Fed hikes rates to highest since 1994

U.S. stock index futures were under pressure on Thursday, putting major averages to give up strong gains made in the previous session. Futures contracts linked to the Dow Jones Industrial Average fell 1.5%, or 460 points. S&P 500 futures fell 1.7%, while Nasdaq 100 futures fell 2.%. All three futures had previously traded in positive … Read more

Euro bailout fund to get new head as its former glory fades

BRUSSELS — A competition to lead the European financial rescue fund is coming to an end with three candidates in the spotlight. But one question that looms over the month-long race seems certain to linger: will the winner have enough to do despite further economic shocks? The finance ministers of the 19 countries that share … Read more

Will the controversy over the Prophet’s remarks shake up trade between India and the Middle East? | Business and Economy News

India’s political ties with the Gulf region may be strained over insulting remarks made by members of India’s ruling Bharatiya Janata Party (BJP) against the Prophet Muhammad, but the jury is out on whether the tensions will have a impact on the economic relationship which has evolved to new heights in recent times. years. Bilateral … Read more