Economic Crisis News - Latest Updates & Headlines

Financial crisis hit Bangladesh as banks stop circulating new currency

Dhaka, April 28: Bangladesh is grappling with an economic crisis under the interim government led by Muhammad Yunus, as the banks are unable to circulate new currency notes to meet the demands in the country, local media reported on Monday.

Diplomatic reset with Pakistan would be a lose-lose game for Bangladesh

N: ew Delhi: "Unforeseen circumstances" have forced Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar to postpone his April 27-28 visit to Bangladesh, thus pushing forward the foreign ministerial-level meeting between the two countries which was to be held after a gap of 13 years.

Political tensions growing concern in Bangladesh, says World Bank

Dhaka, April 24: Political tensions in Bangladesh under the Muhammad Yunus-led interim government may increase in the future due to differences of opinion among political parties on the timing of the elections, states a World Bank (WB) report. These factors, it said, will weigh heavily on investment growth and disrupt the Bangladeshi economy.

Corporate bankruptcies rise sharply in Austria in Q1 2025

Vienna, April 21: A total of 2,004 companies in Austria filed for bankruptcy in the first quarter of 2025, marking an 8 per cent increase compared to the same period in 2024.

Struggling for survival at home, over 172,000 Pakistanis leave for overseas employment

Islamabad, April 15: At least 172,144 Pakistanis ventured for overseas opportunities during the first quarter of 2025 amid prevailing uncertainty, constant job losses, towering inflation, lack of employment opportunities and no hopes of better days in Pakistan.

Rahul Gandhi warns of financial storm in the wake of US tariffs, slams BJP-led government

Ahmedabad, April 9: Congress leader Rahul Gandhi on Wednesday slammed Modi government over 26 per cent "reciprocal tariffs" imposed by the US on India and said a financial storm is about to hit the country.

Tariff war: Korean won dips to lowest level since 2008 global financial crisis

Seoul, April 8: The South Korean currency weakened markedly against the US dollar on Tuesday to reach the lowest level in over 16 years amid deepening concerns about the impact of the Donald Trump administration's sweeping tariff plan on the economy.

Bangladesh's Yunus writes to Trump, requests three-month suspension of counter-tariffs

Dhaka, April 7: Muhammad Yunus, Chief Advisor of the interim government in Bangladesh, has written a letter to US President Donald Trump on Monday, requesting him to postpone the application of reciprocal tariff measures on the country's exports to the United States for three months.

Bloodbath at Pakistan Stock Exchange amid US-China trade war fears

Karachi, April 7: Pakistan Stock Exchange (PSX) nosedived Monday even as the trading was temporarily suspended for one hour to cool off market volatility and prevent panic selling. However, despite the one-hour gap, the market reopened only to fall further as US-imposed tariffs and China's retaliatory moves on goods triggered tensions in global markets.

India has come to the assistance of Sri Lanka at critical moments: Foreign Secy Misri

New Delhi, March 28: Foreign Secretary Vikram Misri, during the special briefing on Prime Minister Narendra Modi's upcoming visit to Thailand and Sri Lanka, emphasised that Sri Lanka is an integral part of India's "Neighborhood First" policy and provided the help to the island nation at critical moments.

Don't think that Maldives can prosper without...India: Former President Nasheed

New Delhi, March 17: Former Maldives President Mohamed Nasheed on Monday emphasised the crucial role India plays in the island nation's prosperity and security, stating that good relations with India are vital for Maldives' safety, security, and prosperity.

South Sudan projected to experience universal poverty in 2025: World Bank

Juba, March 14: South Sudan is projected to experience universal poverty in 2025, driven by a combination of factors such as a decline in oil production and external shocks, the World Bank said in a report.

China's lending practices push Maldives toward sovereign default

Athens, March 13: The Maldives is grappling with a mounting debt crisis that threatens its economic sovereignty, as foreign exchange reserves dwindle to precarious levels while substantial debt repayments loom.

IMF calls for unified reform programme to boost economic recovery in Lebanon

Beirut, March 12: The International Monetary Fund (IMF) urged Lebanon on Wednesday to adopt a unified financial reform programme to facilitate economic recovery and restore investor confidence.

Himachal govt running away from discussions, says BJP ahead of Budget Session

Shimla, March 9: The main Opposition BJP at its Legislature Party meeting on Sunday here under the chairmanship of Leader of Opposition Jai Ram Thakur said the Congress government in the state is running away from discussions during the 16-day Budget session, starting on Monday.

'We have a responsibility to our neighbours': EAM Jaishankar on Sri Lanka

London, March 6: External affairs Minister (EAM), S. Jaishankar spoke about the current situation in Sri Lanka and said that the Narendra Modi-led Indian government helped its neighbouring country Sri Lanka to emerge from a tough and crippling economic crisis which had hit the Asian country in 2022 that triggered a political crisis as well.

Sri Lanka lauds India's 'key role' in supporting debt restructuring programme

Colombo, Feb 24: Calling India "a trusted partner", Sri Lankan Foreign Minister Vijitha Herath has once again appreciated the role played by New Delhi over the last many years, including standing by the island nation in time of need and assisting it through the recent economic crisis.

State inching towards bankruptcy: K'taka BJP chief tells CM Siddaramaiah ahead of budget

Bengaluru, Feb 24: Karnataka BJP President B.Y. Vijayendra on Monday wrote an open letter to Chief Minister Siddaramaiah, who is set to present the budget for the financial year 2025-26 on March 7.

Bangladesh: Experts slam Yunus-led govt's 'wrong' economic policies

Dhaka, Feb 13: The economic policies of the current Bangladesh interim government led by Muhammad Yunus have come under criticism from its own stakeholders.

Industrial shutdown in Khyber Pakhtunkhwa raises alarms amid economic challenges

Peshawar, January 21: The growing unrest and a lack of government assistance have caused 229 industrial facilities in Khyber Pakhtunkhwa (KP) to close according to the Department of Industry as cited by ARY News.

Economic strain deepens as tourism industry struggles with fee hikes in PoGB

Gilgit, January 20: The steep rise in royalty and mountaineering fees in Pakistan-occupied Gilgit-Baltistan (PoGB) has sparked concern among tour operators, who fear the region's growing adventure tourism industry could collapse, Dawn reported.