The IMF’s April 2025 Regional Economic Outlook for Sub-Saharan Africa presents a clear warning: regional growth is slowing, debt pressures are mounting, and donor assistance is declining. Yet the report outlines critical opportunities particularly in domestic revenue mobilization, structural reform, and private sector activation that can shape a more resilient …
Oil prices that hit a record on Tuesday are clearly too high and not beneficial for the US Economy, a top US energy official said. The United States has been remarkably resilient in the face of expensive energy, but a rally on oil to more than $118 a barrel is …
With crude hitting a new high of over $117, domestic airlines have warned they will have no option but to increase surcharge if jet fuel becomes dearer this month-end. The industry fears a 3-4% hike this time round. Airlines have make it clear that only reduction of tax rates by …
Amid demands that the Left parties save the country rather than the government, the entire Left leadership on Saturday courted arrest in the capital along with leaders of the United National Progressive Alliance (UNPA) in protest against rising prices. Part of the week-long joint action planned by the Left parties …
The price of oil has soared to a new high, hasn't it? A CASUAL observer might be forgiven for thinking that the oil price reached a new record, of $115.07 a barrel, on April 16th. And so it did, in nominal terms. But by other measures, oil is not quite …
Malaysia announced a $1.3 billion-plan on Saturday to boost food security by building stockpiles, raising rice output and reining in inflation. Prime Minister Abdullah Ahmad Badawi said the government would ensure the country was self-sufficient in rice, a staple food for its 27 million people. A third of Malaysia's rice …
As crude oil prices soar to new highs, Brazil's state-owned petroleum company Petrobras is looking beyond the windfall to place bets in the growing alternative energy market. The company does not plan to raise petrol and diesel prices, frozen since 2005, even as world oil prices have surpassed US $110 …
A landmark deal reached between Russia's state-controlled gas monopoly Gazprom and three energy-rich Central Asian nations is likely to affect European consumers. On March 11, Gazprom agreed with heads of the gas companies from Kazakhstan, Uzbekistan and Turkmenistan that starting in 2009, it will pay "European market prices' for Central …
The Organisation of the Petroleum Exporting Countries has quietly begun to reduce its oil production despite calls from the US and Europe for the group to pump more so that prices fall. Output from the core countries of the 13-member cartel last month fell to 27.3m barrels a day, down …
European gas oil prices set a new high above $1,000 a tonne on Tuesday, boosted by a fire in a key European refinery last week and unexpectedly strong demand. Power blackouts in South Africa, Chile and China have forced many companies to run diesel generators to offset electricity supply interruptions, …
The sharp rise in oil prices over the past year has provided a massive economic boost for many Arab states. In Jordan, however, it has forced the government into a delicate balancing act in order to preserve political and fiscal stability. Unlike most of its neighbours, Jordan does not sit …
Higher petrol and food prices have pushed Australia's annual inflation rate above 4% for the second consecutive month, putting it well above the Reserve Bank of Australia's target, a survey shows. Inflation in the year to March posted consecutive rises at 4% or above for the first time since the …
Nagarjuna Fertilisers and Chemicals Ltd (NFCL) has completely exited from the inter-State mega power project under construction in Udupi, Karnataka, selling its 26 per cent stake to the Lanco group. NFCL officials, when contacted, confirmed the exit. The officials said, "There was no premium involved in the divestment as the …
The surge in the price of energy couldn't come at a worse time. The average price of regular gasoline in the United States has shot up to a record $3.28 a gallon. Combine that with the collapse of the housing market and the seizure of the financial sector, and it …
PetroChina faces the prospect of losing about $18bn on its refining business if the price of crude oil remains at its present level, its chairman suggested on Wednesday. Chinese refiners have been unable to pass soaring oil prices on to consumers because the government imposes price controls on petrol and …
The time has come for the government to get off the oil industry's back The runaway rise in international oil prices, which recently crossed $100 a barrel, has put Indian oil companies in a spot. Even as their costs rise, they are unable to raise prices to get the resources …
Sri Lanka raises fuel prices: After doling out huge fuel subsidies for five months, the Sri Lankan government finally increased fuel prices on January 13. The price of petrol has increased by LKR 10 (US $10 cents) a litre to LKR 127 (US $1.2), while the new prices for diesel …
A midst reports of fuel shortages and rising domestic fuel prices, the government of Argentina has decided to freeze export of petrol and petroleum products until supplies to the domestic market is normalized and prices drop to the October 2007 level. Domestic fuel prices in Argentina remain the lowest in …
The recent rapid increases in the international prices of many basic food commodities have raised many questions from policy-makers, the media, the public, and the farmers who have the opportunity to benefit from the situation. Those who have the most reason to be concerned are the vulnerable people who have …
the Indian government has announced an ambitious plan to phase in a million hydrogen-fuelled vehicles by 2020. Seventy-five per cent of these vehicles will be two- and three-wheelers, according to the Union ministry of new and renewable energy (mnre). A hydrogen-based power-generating capacity of 1,000 mw and Rs 25,000 crore …
