China's economy has contracted sharply in second quarter while annual growth here also slowed significantly. The data has come just a while ago and lockdowns has jolted industrial production and consumer spending.

Global economic risks darken China's economy outlook

Even as chaos and anarchy takes over Sri Lanka, there is still no sign of resignation from President Gotabaya Rajapaksa. Angry protesters stormed PM office; opposition targets President, PM and speaker.

Sri Lanka: Acting President Ranil Wickremesinghe calls for protecting parliament

Sri Lanka’s President Gotabaya Rajapaksa has left the Maldives for Singapore a day after fleeing his home country amidst the worst economic and political crisis.

Reports: Sri Lankan President Gotabaya Rajapaksa leaves for Singapore from Maldives

<p>The 5-Star Movement, one of the Italian ruling government&nbsp;coalition's members, announced on Thursday that it will not participate in a parliamentary confidence vote. This puts Prime Minister Mario Draghi's coalition government in danger of collapsing. Reuters reported that Draghi himself has also announced that he would not lead an administration without 5-Star's participation. Similarly, other coalition parties have threatened to leave the government if 5-Star boycotts the Senate vote that is scheduled for later in the day.&nbsp;Giuseppe Conte, the head of the 5-Star party, declared late on Wednesday that his party will not support the vote of confidence.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/italys-government-faces-collapse-if-5-star-pulls-out-497134">Italy's government faces collapse if 5-Star pulls out</a></strong></p>

<p>Addressing a steep increase in energy prices, he remarked, "I have a strong fear that September will be a time when many families will face the terrible choice of paying their electricity bill or buying food." According to Reuters, the minister said that the government ought to be doing more to address the growing social problems in the "eurozone's third-largest economy".</p>

<p>The 5-Star party's decision throws Italy's government into disarray, and also poses a threat to the country's efforts to secure billions of euros in EU funding, and may trigger early national elections this fall.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/photos/mama-mia-worst-italian-drought-makes-milan-fountains-go-dry-492181">Mama Mia! Worst Italian drought makes Milan fountains go dry</a></strong></p>

<p>As per Reuters, the confidence vote on Wednesday involves a 26 billion euro cost-of-living help package. Additionally, it has a clause permitting Rome to construct a massive trash incinerator, a plan that 5-Star has consistently resisted.</p>

<p>In Italy, elections are expected to take place in the first half of 2023. However, due to mounting tensions among coalition members, who have been on opposite ends of the political spectrum since early 2021, early elections are a huge possibility.</p>

<p><strong>Watch |&nbsp;WION Fineprint | The Great Italian Drought: What does it mean for your holiday?</strong></p>

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<p>Right-leaning League and center-left Democratic Party (PD), two of the coalition partners, said on Wednesday that if the government were to fall, early elections would likely take place.</p>

<p>If Italy goes to the election, it would be rare. Fall in Italy is when governments typically prepare their annual budgets, which are then approved by the end of the year.</p>

<p><em>(With inputs from agencies)</em></p>

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The 5-Star Movement, one of the Italian ruling government coalition's members, announced on Thursday that it will not participate in a parliamentary confidence vote.

The 5-Star Movement, one of the Italian ruling government coalition's members, announced on Thursday that it will not participate in a parliamentary confidence vote. This puts Prime Minister Mario Draghi's coalition government in danger of collapsing. Reuters reported that Draghi himself has also announced that he would not lead an administration without 5-Star's participation. Similarly, other coalition parties have threatened to leave the government if 5-Star boycotts the Senate vote that is scheduled for later in the day. Giuseppe Conte, the head of the 5-Star party, declared late on Wednesday that his party will not support the vote of confidence. Also read | Italy's government faces collapse if 5-Star pulls out Addressing a steep increase in energy prices, he remarked, "I have a strong fear that September will be a time when many families will face the terrible choice of paying their electricity bill or buying food." According to Reuters, the minister said that the government ought to be doing more to address the growing social problems in the "eurozone's third-largest economy". The 5-Star party's decision throws Italy's government into disarray, and also poses a threat to the country's efforts to secure billions of euros in EU funding, and may trigger early national elections this fall. Also read | Mama Mia! Worst Italian drought makes Milan fountains go dry As per Reuters, the confidence vote on Wednesday involves a 26 billion euro cost-of-living help package. Additionally, it has a clause permitting Rome to construct a massive trash incinerator, a plan that 5-Star has consistently resisted. In Italy, elections are expected to take place in the first half of 2023. However, due to mounting tensions among coalition members, who have been on opposite ends of the political spectrum since early 2021, early elections are a huge possibility. Watch | WION Fineprint | The Great Italian Drought: What does it mean for your holiday? Right-leaning League and center-left Democratic Party (PD), two of the coalition partners, said on Wednesday that if the government were to fall, early elections would likely take place. If Italy goes to the election, it would be rare. Fall in Italy is when governments typically prepare their annual budgets, which are then approved by the end of the year. (With inputs from agencies) Watch WION LIVE HERE: You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

As cost-of-living skyrockets, Italy's government faces implosion

Crippling economic crisis, political upheaval, unrest, frustration long queues for fuel- in the midst of all the country has been witnessing, it is the people of Sri Lanka that continue to suffer and despite everything that they've had to endure they continue to fight, take a look at our next report.

The Hardships of Sri Lankan citizens | Impact of economic and political crisis on people

After hours of mobocracy-led demonstrations an eerie calm has taken over the Sri Lanka lanes. With dramatic turn of events and the President announcing his resignation, the worst may seem to have passed but the crisis is far from over.

Sri Lanka economic crunch: Citizens try to flee country amid crisis

A people's uprising has forced Gotabaya Rajapaksa to step down. The protesters at the Presidential Palace want him to resign immediately. Palki Sharma brings you the top 5 videos - that describe the state of affairs in Sri Lanka.

Gravitas: Did Gotabaya Rajapaksa flee Sri Lanka on a ship?

India has rejected reports claiming it has deployed soldiers in Sri Lanka. How can India balance its support for the Lankan people with a call for a peaceful power transition? Palki Sharma decodes India's role in Sri Lanka.

Gravitas: What is India's role in Sri Lanka?

Amidst massive economic turmoil, political vacuum continues in Sri Lanka with an exiting President and Prime Minister and no clarity whatsoever on who will take charge of a country in economic mess, the island nation is staring at an uncertain future.

Sri Lanka's political turmoil: Island nation to get new President next week

Sri Lanka's colonial-era presidential palace has embodied state authority for more than 200 years, but on Sunday it was the island's new symbol of "people power" after its occupant fled. Molly Gambhir brings you this ground report by Dasuni Athauda as we take you inside the presidential palace.

WION Fineprint| Ground report from Sri Lanka's seat of power

WION Fineprint| Ground report from Sri Lanka's seat

Sri Lanka's economic and political crisis: No consensus over next President's name

For centuries, people's movements have shaped political and social order in South Asia. The current chaos in Sri Lanka brings back flashes from other Asian nations. Molly Gambhir tells you about similar uprisings in the region.

WION Fineprint | Sri Lanka: A look at 'people power' in Asia

A deep financial crisis have left Sri Lanka struggling to pay for import of food, medicine and fuel. Protesters have currently occupied Presidential palace and have askes Gotabaya to step down from the post of President. Here, at The Full Context, we decode how Sri Lanka got to this point and what lies ahead.

The Full Context: How unprecedented economic crunch pushed Sri Lanka over the edge?

Sri Lanka's economic crisis has engulfed South Asian nation. Food and fuel inflation is crippling Pakistan's economy too. Will Islamabad be the next country to go Sri Lanka's way?

WION Dispatch: Food and fuel inflation crippling Pakistan's economy

A few years ago Sri Lanka's economy was growing strongly enough to provide jobs and financial security for most. It's now in a state of collapse. WION tells you how the island nation's economic crisis is impacting the citizens.

The impact of economic crisis on Sri Lankan citizens

Argentinian President Alberto Fernández has called for unity as protesters marched to gates of Presidential palace lambasting his government over soaring inflation and crushing national debt.

Argentina reels under multiple economic crisis

After the unprecedented political turmoil over the weekend, Sri Lanka's main opposition parties on Sunday have now formed an all party interim government after the protest which forced the President and then the PM to offer their resignations.

Public anger erupts over Sri Lankan economic crisis, President Gotabaya and PM Wickremesinghe to offer resignation

WION Fineprint | Ground report from Sri Lanka's seat of power

The Full Context | How unprecedented economic crunch pushed Sri Lanka over the edge?

After unprecedented political turmoil over the weekend, Sri Lanka's main opposition parties agreed to form an all-party interim government after protesters forced the President and the Prime Minister to offer their resignations over the mismanagement.

Sri Lanka economic crisis: Opposition plans interim government after President's resignation

Sri Lanka economic crisis: Opposition parties hold talks to steer country forward

In the latest update on the Sri Lankan crisis, Prime Minister Ranil Wickremesinghe's house has been set on fire. PM's office has said that the protesters started fire.

Fire engulfs Sri Lanka PM Ranil Wickremesinghe's private home in Colombo

<p>The Sri Lankan Prime Minister, Ranil Wickremesinghe's home was attacked and set on fire by irate protesters. According to the Prime Minister's Office, a mob broke into Wickremesinghe's private residence, set it on fire, and wrecked some of his personal vehicles.</p>

<p>The Prime Minister previously stated that he is ready to step down to create room for an all-party government.</p>

<p>Earlier today, Sri Lanka’s prime minister agreed to resign after party leaders in Parliament demanded both he and the embattled president step down on the day protesters stormed the president’s residence and office in a fury over a worsening economic crisis.</p>

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<p dir="ltr" lang="en">Just in: Private residence of Sri Lankan PM Ranil Wickremesinghe set on fire.<a href="https://t.co/6cQKLcpsHb">pic.twitter.com/6cQKLcpsHb</a></p>
— Sidhant Sibal (@sidhant) <a href="https://twitter.com/sidhant/status/1545799344099471360?ref_src=twsrc%5Etfw">July 9, 2022</a></blockquote>
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<p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Sri Lanka: Amid massive unrest in the country, protestors set ablaze the private residence of Sri Lankan PM Ranil Wickremesinghe<a href="https://twitter.com/hashtag/SriLankaCrisis?src=hash&amp;ref_src=twsrc%5Etfw">#SriLankaCrisis</a> <a href="https://t.co/BDkyScWpui">pic.twitter.com/BDkyScWpui</a></p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1545801163013926914?ref_src=twsrc%5Etfw">July 9, 2022</a></blockquote>
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<p>When all parties have reached an agreement on a new government, the prime minister, Ranil Wickremesinghe, said in a voice statement that he will step down.</p>

<p>“Today in this country we have a fuel crisis, a food shortage, we have the head of the World Food Program coming here and we have several matters to discuss with the IMF. Therefore, if this government leaves there should be another government,” he said.</p>

<p>His decision followed the largest rally to ever sweep Sri Lanka, in which tens of thousands of protesters burst through barriers and stormed into President Gotabaya Rajapaksa's home and neighbouring office to express their rage against a figure they consider accountable for the country's darkest crisis.</p>

<p>People were captured on camera splashing around in the house's outdoor pool in a joyful atmosphere. Some people made "statements" from the conference room demanding that Rajapaksa and Wickremesinghe resign, while others lounged on mattresses or poured tea and drank it.</p>

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<p dir="ltr" lang="en">SRI LANKANS take a dip at the Presidential palace's swimming pool, raid the bedroom and kitchen as President Gotabaya Rajapaksa flees. Protestors want the Head of State OUT <a href="https://twitter.com/hashtag/SriLanka?src=hash&amp;ref_src=twsrc%5Etfw">#SriLanka</a> <a href="https://twitter.com/hashtag/gotabayarajapaksa?src=hash&amp;ref_src=twsrc%5Etfw">#gotabayarajapaksa</a> <a href="https://twitter.com/hashtag/GotaGoHome?src=hash&amp;ref_src=twsrc%5Etfw">#GotaGoHome</a> <a href="https://twitter.com/WIONews?ref_src=twsrc%5Etfw">@WIONews</a> <a href="https://t.co/l7mK7qMQRk">pic.twitter.com/l7mK7qMQRk</a></p>
— Eric Njoka 🇰🇪 (@eriknjoka) <a href="https://twitter.com/eriknjoka/status/1545708481117794304?ref_src=twsrc%5Etfw">July 9, 2022</a></blockquote>
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<p dir="ltr" lang="en">Inside President's House. <a href="https://twitter.com/hashtag/SriLanka?src=hash&amp;ref_src=twsrc%5Etfw">#SriLanka</a> <a href="https://twitter.com/hashtag/SriLankaProtests?src=hash&amp;ref_src=twsrc%5Etfw">#SriLankaProtests</a> <a href="https://t.co/e49jeDIldv">pic.twitter.com/e49jeDIldv</a></p>
— Jamila Husain (@Jamz5251) <a href="https://twitter.com/Jamz5251/status/1545716286834937857?ref_src=twsrc%5Etfw">July 9, 2022</a></blockquote>
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<p>&nbsp;</p>

<p>Wickremesinghe claimed he suggested an all-party government to the president, but he made no mention of Rajapaksa's whereabouts. The creation of a new government was now being discussed by opposition groups in Parliament.</p>

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The Sri Lankan Prime Minister, Ranil Wickremesinghe's home was attacked and set on fire by irate protesters. According to the Prime Minister's Office, a mob broke into Wickremesinghe's private residence, set it on fire, and wrecked some of his personal vehicles.

The Sri Lankan Prime Minister, Ranil Wickremesinghe's home was attacked and set on fire by irate protesters. According to the Prime Minister's Office, a mob broke into Wickremesinghe's private residence, set it on fire, and wrecked some of his personal vehicles. The Prime Minister previously stated that he is ready to step down to create room for an all-party government. Earlier today, Sri Lanka’s prime minister agreed to resign after party leaders in Parliament demanded both he and the embattled president step down on the day protesters stormed the president’s residence and office in a fury over a worsening economic crisis. Just in: Private residence of Sri Lankan PM Ranil Wickremesinghe set on fire.pic.twitter.com/6cQKLcpsHb — Sidhant Sibal (@sidhant) July 9, 2022 × #WATCH | Sri Lanka: Amid massive unrest in the country, protestors set ablaze the private residence of Sri Lankan PM Ranil Wickremesinghe#SriLankaCrisis pic.twitter.com/BDkyScWpui — ANI (@ANI) July 9, 2022 × When all parties have reached an agreement on a new government, the prime minister, Ranil Wickremesinghe, said in a voice statement that he will step down. “Today in this country we have a fuel crisis, a food shortage, we have the head of the World Food Program coming here and we have several matters to discuss with the IMF. Therefore, if this government leaves there should be another government,” he said. His decision followed the largest rally to ever sweep Sri Lanka, in which tens of thousands of protesters burst through barriers and stormed into President Gotabaya Rajapaksa's home and neighbouring office to express their rage against a figure they consider accountable for the country's darkest crisis. People were captured on camera splashing around in the house's outdoor pool in a joyful atmosphere. Some people made "statements" from the conference room demanding that Rajapaksa and Wickremesinghe resign, while others lounged on mattresses or poured tea and drank it. SRI LANKANS take a dip at the Presidential palace's swimming pool, raid the bedroom and kitchen as President Gotabaya Rajapaksa flees. Protestors want the Head of State OUT #SriLanka #gotabayarajapaksa #GotaGoHome @WIONews pic.twitter.com/l7mK7qMQRk — Eric Njoka 🇰🇪 (@eriknjoka) July 9, 2022 × Inside President's House. #SriLanka #SriLankaProtests pic.twitter.com/e49jeDIldv — Jamila Husain (@Jamz5251) July 9, 2022 × Wickremesinghe claimed he suggested an all-party government to the president, but he made no mention of Rajapaksa's whereabouts. The creation of a new government was now being discussed by opposition groups in Parliament. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Video: Protesters attack Sri Lanka prime minister's house, set it on fire — Police

<p>Ranil Wickremesinghe, the prime minister of Sri Lanka, has informed the party leaders that he is prepared to step down from office in order to allow an all-party government to assume power.</p>

<p>He claims he is making this choice in light of the fact that fuel distribution over the entire island is scheduled to resume this week, the director of the World Food Program is scheduled to visit the nation this week, and the debt sustainability report for the IMF is soon to be completed.</p>

<p>He accepts this suggestion from the leaders of the opposition parties in order to guarantee the protection of the citizens.</p>

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<p dir="ltr" lang="en">To ensure the continuation of the Government including the safety of all citizens I accept the best recommendation of the Party Leaders today, to make way for an All-Party Government.<br />
<br />
To facilitate this I will resign as Prime Minister.</p>
— Ranil Wickremesinghe (@RW_UNP) <a href="https://twitter.com/RW_UNP/status/1545757923044839424?ref_src=twsrc%5Etfw">July 9, 2022</a></blockquote>
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<p>“So as to ensure safety of the citizens, he is agreeable to this recommendation by the Opposition Party Leaders,” he said.</p>

<p>Meanwhile, Gotabaya Rajapaksa, the embattled president of the country, fled his official residence in the capital on Saturday before protestors calling for his resignation stormed the compound.</p>

<p><strong>Watch |&nbsp;Sri Lanka Economic Crisis worsens | Many Sri Lankans switch to firewood</strong></p>

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<div class="videoWrapper trancodeVideo">&nbsp;</div>

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<p><strong>Protesters storm into the President’s House in Colombo</strong></p>

<p>In Sri Lanka's capital, thousands of demonstrators have occupied President Gotabaya Rajapaksa's official house.&nbsp;After months of protests over his poor handling of the nation's economic situation, demonstrators from all around the nation marched to Colombo demanding his resignation.</p>

<p>According to reports, he has already been relocated to a safer area.</p>

<p>Inflation in the nation is out of control, and it is difficult to import food, gasoline, and medical supplies.The island nation of Sri Lanka is currently coping with a food and fuel shortage in addition to extended outages and increasing costs after running out of foreign reserves to import commodities. Thousands of people have been asking for President Rajapaksa to resign at demonstrations across the country.</p>
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Ranil Wickremesinghe, the prime minister of Sri Lanka, has informed the party leaders that he is prepared to step down from office in order to allow an all-party government to assume power.

Ranil Wickremesinghe, the prime minister of Sri Lanka, has informed the party leaders that he is prepared to step down from office in order to allow an all-party government to assume power. He claims he is making this choice in light of the fact that fuel distribution over the entire island is scheduled to resume this week, the director of the World Food Program is scheduled to visit the nation this week, and the debt sustainability report for the IMF is soon to be completed. He accepts this suggestion from the leaders of the opposition parties in order to guarantee the protection of the citizens. To ensure the continuation of the Government including the safety of all citizens I accept the best recommendation of the Party Leaders today, to make way for an All-Party Government. To facilitate this I will resign as Prime Minister. — Ranil Wickremesinghe (@RW_UNP) July 9, 2022 × “So as to ensure safety of the citizens, he is agreeable to this recommendation by the Opposition Party Leaders,” he said. Meanwhile, Gotabaya Rajapaksa, the embattled president of the country, fled his official residence in the capital on Saturday before protestors calling for his resignation stormed the compound. Watch | Sri Lanka Economic Crisis worsens | Many Sri Lankans switch to firewood Protesters storm into the President’s House in Colombo In Sri Lanka's capital, thousands of demonstrators have occupied President Gotabaya Rajapaksa's official house. After months of protests over his poor handling of the nation's economic situation, demonstrators from all around the nation marched to Colombo demanding his resignation. According to reports, he has already been relocated to a safer area. Inflation in the nation is out of control, and it is difficult to import food, gasoline, and medical supplies.The island nation of Sri Lanka is currently coping with a food and fuel shortage in addition to extended outages and increasing costs after running out of foreign reserves to import commodities. Thousands of people have been asking for President Rajapaksa to resign at demonstrations across the country. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Sri Lanka economic crisis: PM Ranil Wickremesinghe says he is willing to resign

Sri Lanka's public transport has come to a halt. Owing to the Island Nations receiving fuel reserve, the country is left with less than a day's worth of fuel. Sri Lankan Energy Minister said that the nation's petrol reserves were about 4,000 tons and the next shipment is expected between July 22nd and 23rd.

Sri Lanka Economic Crisis: Island nation left with fuel worth less than a day

Sri Lanka's inflation hit a ninth consecutive record in June. Residents are being forced to use firewood for cooking purposes. These desperate measures come as Sri Lanka struggles to arrange for basic essentials such as gas or fuel for its citizens

WION Dispatch | Sri Lanka Crisis & Chaos: Firewood now being used to cook meals

Sri Lanka's inflation hit a ninth consecutive record in June. With this, the Sri Lankans are forced to use firewood for cooking purposes. These desperate measures come as Sri Lanka struggles to arrange for basic essentials such as gas or fuel for its citizens

Sri Lanka Economic Crisis worsens | Many Sri Lankans switch to firewood

The island nation's Prime Minister has declared that the country is bankrupt and that the daunting pain of its unprecedented economic crisis will linger until at least the end of next year.

Sri Lankan PM Ranil Wickremesinghe: Economic Crisis to drag through 2023

In the midst of an unprecedented fuel crisis in Sri Lanka, the island nation's national carrier, Sri Lankan Airlines, is bracing for flight cancellations until July 18.

Sri Lankan airlines bracing for flight cancellations amid fuel crisis

Sri Lanka only has 4061 tons of petrol left in its government reserves with public transport grinding to a halt as the country's economic crisis deepened.

Sri Lanka's fuel reserves shrink further, only 4061 tonnes petrol left

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