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The Latest Breaking News from Economy

UAE-India airfares soar ahead of Eid holidays

The fare for the Air India Express in Abu Dhabi- Kozhikode non-stop flight is Rs 33,400 while for Air India in the same sector is Rs 40, 200.

The Hindu

Lloyds Bank warning on economy as it tells customers “seek help”

BRITAIN’S biggest bank today issued stark warnings about what could happen to the economy if inflation takes grip and told customers in trouble to seek help sooner rather than later.

Evening Standard

Lloyds sees signs of customer belt-tightening as cost-of-living crisis bites

The lending giant as seen 1.2 million subscriptions contracts cancelled over the past six months, with customers spending more on energy and food as i

The Independent UK

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Lloyds says customers cutting back on streaming and gyms as inflation bites

Bank warns of more loan defaults amid cost of living crisis as it reports 14% fall in first-quarter pre-tax profit

The Guardian - UK

Lebanon vote holds little hope for change despite disasters

On May 15, Lebanese vote in national parliamentary elections, the first since their country's economy took a nosedive

The Independent UK

Dbeibah Kicks off Visit to Tunisia amid Dispute over His Govt's Legitimacy

Head of Libya’s Government of National Unity (GNU) Abdulhamid al-Dbeibah arrived in Tunisia on Tuesday for a one-week official visit amid a dispute back home over the legitimacy of his government. Dbeibah is leading a high-level delegation that includes chief of staff of western Libya forces Mohamed Haddad, Interior Minister…

Asharq Al-Awsat

Long Covid and health problems during pandemic cost UK economy £8bn and 400,000 workers, report says

Government urged to overhaul approach to public health after research reveals country has lost 400,000 workers to ill health

The Independent UK

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UK will lose £8bn from Covid-induced decline in size of workforce

Illness, mental health problems and NHS disruption have led to 400,000 workers vanishing, says thinktank

The Guardian - UK

Bristol Beacon valued at zero pounds in city council accounts despite £107m revamp

Local authority insists cultural venue's true value goes “well beyond the bricks and mortar”

Bristol Post

How Higher Rates Could Continue to Negatively Impact the Market

Last week, we noted that the S&P 500 (SPY) was "leaking" lower, but there were still some pockets of strength. Well this past week, those pockets of strength also got crushed. The bull case has been that the economy would be strong enough to withstand the negative effect of higher…

StockNews.com

Federal election: Labor rubbishes Morrison's claims of a 'sneaky carbon tax' as scare campaign

Scott Morrison has said Labor's net zero plan is an attempt to revive the carbon tax. In response, Labor campaign spokesman Jason Clare said this was a sign the Liberal Party was getting desperate.

ABC News

Tisco sounds recession alarm on Fed interest rate hikes

The Federal Reserve could raise interest rates to 3.5% by the middle of next year to curb spiralling inflation, tipping the world economy into a recession, according to the Economic Strategy Unit of Tisco Financial Group (Tisco ESU).

Bangkok Post

Low-Income Consumers Growing Increasingly Optimistic, But Sentiment Among The Wealthy Tumbles

U.S. economic growth is strong, and the economy and labor market are finally back to firing on all cylinders following the COVID-19 pandemic.

Benzinga

Amid coal crisis, power plants meet record 201 GW demand

NEW DELHI: India’s power plants met maximum demand of over 201 GW (gigawatts) at 2.51 pm on Tuesday, beating the previous record of over 200 GW clocked on July 7 last year, as the economy began firing on all cylinders and a raging heatwave further fuelled consumption.

The Times of India

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Birmingham Post

North East aiming to attract more cruise ships to boost economy

Port of Tyne, Newcastle International Airport and the NewcastleGateshead Initiative are working together on the Cruise North East England project

The Guardian - UK

Hopes of permanent extra bank holiday dampened by No 10

Cost to economy invoked in response to widely backed campaign to make day more than just a jubilee one-off

Manchester Evening News

Permanent bank holiday to honour Queen 'highly unlikely', Downing Street says

It is unlikely we will get an extra bank holiday every year as it would cost the economy too much money

Al Jazeera

‘I lost everything’: Somaliland market fire upturns life, economy

Residents and traders say the market in Hargeisa was an entire financial district and pivotal to Somaliland’s economy.

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Benzinga

Biden Administration Reverses Trump's Effort To Open More Land For Oil Drilling In Arctic: CNBC

The Biden administration reversed a Trump administration plan that allowed the government to lease more than two-thirds of the country’s largest swath of public land to oil and gas drilling, writes CNBC. The Bureau of Land Management’s decision will shrink the amount of land available for lease in the National Petroleum Reserve in…

StockNews.com

Lincoln Education is Our Featured Stock of the Week

The tight labor market is making it clear that we are facing a severe shortage of workers in key industries. Today's featured stock of the week, Lincoln Education (LINC) offers vocational training that can help the economy train workers for these new roles.

Irish Mirror

Prof Sam McConkey says Ireland has done 'exceptionally well' with Covid despite death toll rising above 7,000

Prof McConkey also said that Ireland's economy also managed to withstand the pandemic better than other countries

Bangkok Post

Thailand Roadshow to Japan Reinforces Commitment to Partnership and Future Investments in EV, BCG and Electronics

Mr. Supattanapong Punmeechaow, Thailand’s Deputy Prime Minister, said that the investment promotion roadshow he recently led to Japan has reinforced a joint commitment to deepen bilateral cooperation and develop a co-creation partnership to lead future investments in electric vehicles (EV), smart electronics and green technologies in particular, that will drive…

Asharq Al-Awsat

Expo 2020 Dubai Awards $1.8 Bln in Contracts to SMEs

Expo 2020 Dubai awarded AED 6.8 billion (around $1.8 billion) of contracts to small and medium-sized enterprises (SMEs), providing a significant contribution to a vital sector of Dubai’s vibrant economy and exceeding a commitment made in 2016 to award at least 20% of all direct and indirect spend to SMEs.…

Asharq Al-Awsat

Individual Investors Doubled in Saudi Financial Markets

Recent official data revealed that over 4.7 million subscribers per capita are active in the proposals of financial markets in Saudi Arabia, according to the 2021 annual report of the Saudi Capital Market Authority (CMA). The annual report stated that the number of individual investors in IPOs jumped 4.7 times,…

The Independent UK

Asian shares advance on back of rally on Wall Street

Asian shares are mostly higher after U.S. stocks stormed back from sharp losses to log strong gains

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