Financial Markets

The selloff in stocks deepened after weak consumer-spending data fueled worries about a recession, with the S&P 500 suffering its cruelest first-half since Richard Nixon’s…

For years, Mukesh Ambani has studied the ways in which billionaire families passed on what they had built to the next generation.Indian billionaire Mukesh Ambani has stepped down…

Russia defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas…

The two sides have agreed on the budget and fiscal measures but still need to agree on a set of monetary targets.Key progress has been made in talks on the revival of Pakistan’s…

Colombo hopes the IMF visit, overlapping with debt restructuring talks, will yield a quick staff-level agreement.An International Monetary Fund (IMF) team arrives in Sri Lanka on…

The world’s largest cryptocurrency has slumped about 70 percent since its record high of $69,000 in November.Bitcoin tumbled on Wednesday to a new 18-month low, dragging smaller…

As investors grow increasingly worried about inflation and higher interest rates, Wall Street has fallen into a bear market. The US Federal Reserve bank has indicated that it will…

With US inflation accelerating to a 40-year high and China imposing new curbs, investors questioned economic recovery.Oil dropped more than $2 on Monday as a flare-up in COVID-19…

Aeroflot also plans to order 300 planes from a state-owned firm after Airbus, Boeing halted supplies due to sanctions.Under heavy pressure from Western sanctions and airspace bans,…

Gotabaya Rajapaksa says he won’t stand for re-election but wants to fix the financial mess rather than ‘go as a failed president’.President Gotabaya Rajapaksa vowed to finish the…