Sri Lanka Sinks Deeper Into Recession as IMF Bailout Hangs
Sri Lanka fell into a deeper recession last quarter as borrowing costs at a two-decade high to rein in inflation took their toll on the $89 billion economy.
Bloomberg Business
India Posts Smallest Trade Gap in 13 Months as Imports Fall
India’s goods trade deficit narrowed to a 13-month low in February as imports declined amid a demand slowdown in the economy.
Pakistan Court Calls Off Imran Khan Arrest for The Night
A Pakistan court suspended police operations to arrest former premier Imran Khan at his home for the night, the latest twist in a political saga that’s overshadowing the country’s economic turmoil.
Turkey’s Pro-Kurd Party to Back Main Erdogan Rival at Polls
Turkey’s largest non-aligned political party is planning to throw its weight behind an opposition alliance trying to unseat President Recep Tayyip Erdogan in elections in May, intensifying what’s become one of the biggest tests of his two decades in power.
Meta Executive Joins European Defense Startup to Develop AI
Antoine Bordes, former director of artificial intelligence research at Meta Platforms Inc., is joining Berlin-based defense tech startup Helsing, as European NATO members commit more funding to their armed forces following Russia’s invasion of Ukraine.
Credit Suisse Default Swaps Show Bank Risks as ECB Raises Interest Rate
The cost of insuring against the defaults in the European financial sector keeps soaring due to swelling concerns about contagion risks from Credit Suisse Group AG’s troubles.
State Street Pans Moody’s ‘Terrible Overreaction’ on Banks
The head of one of the world’s largest asset managers called Moody’s Investors Service’s outlook cut for the US banking system “a terrible overreaction” and said regulators had reassured the market following the collapse of three lenders.
Tech Tycoon Lynch Asks Court for Right to Appeal US Extradition
Autonomy Corp. founder Mike Lynch has asked a London court for permission to appeal his extradition to the US to face criminal charges over the Hewlett Packard Enterprise Co. sale fraud.
Inditex’s Massimo Dutti Chain Stumbles as Officewear Goes Casual
Zara owner Inditex SA is struggling to reverse an earnings decline at its formal-wear chain Massimo Dutti as mid-range officewear is hit particularly hard by the cost-of-living crisis.
California Storm Blackouts Plunge Silicon Valley into Darkness
Utility workers raced to restore power to parts of central California, after the latest atmospheric river struck the state with heavy rain and blasting winds, plunging parts of Silicon Valley into darkness.
