Following a grim warning that its future is looking fuzzy, Tupperware's stock plunged by close to 50 per cent&nbsp;on Monday (April 10).

The container manufacturer said there is "substantial doubt" about the company's capacity to continue as a going concern in a regulatory filing late Friday and that it is working with financial advisers to find financing to stay afloat.

Tupperware claimed that if it doesn't obtain extra funding, company won't have enough cash to support its operations. According to the corporation, it is looking into possible layoffs and assessing its real estate holdings for potential cost-saving measures.

The New York Stock Exchange also issued a warning that Tupperware's stock may be delisted for failing to submit the necessary annual report, reported CNN.

“Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our capital and liquidity position,” CEO Miguel Fernandez said in a press release. “The company is doing everything in its power to mitigate the impacts of recent events, and we are taking immediate action to seek additional financing and address our financial position.”

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/fall-of-credit-suisse-not-a-fall-of-switzerland-says-president-581388">Fall of Credit Suisse not a fall of Switzerland, says president</a>

The 77-year-old company has had difficulty staying competitive with rivals in recent years. With newer and trendier products, it has been attempting to shed its stuffy reputation and draw in new customers. It also reached a sales agreement with Target last year.

Neil Saunders, retail analyst and managing director at GlobalData Retail who spoke to CNN,&nbsp;claims that Tupperware is suffering from a "sharp decline in the number of sellers, a consumer pullback on home products, and a brand that still does not fully connect with younger consumers."

“The company used to be a hotbed of innovation with problem-solving kitchen gadgets, but it has really lost its edge,” he said.

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/a-year-after-crisis-sri-lanka-grants-3-foreign-oil-companies-to-sell-fuel-581267">A year after crisis, Sri Lanka allows 3 foreign oil companies to sell fuel</a>

The move into Target, according to Tupperware (TUP), is a part of the brand's reinvention, which also includes efforts to expand through various retail channels and expose its products to younger consumers who have never even heard of Tupperware (TUP) parties.

However, that hasn't worked out so far because shares have fallen 90 per cent&nbsp;in the last year. In November, it again issued a "going concern" alert.

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Following a grim warning that its future is looking fuzzy, Tupperware's stock plunged by close to 50 per cent on Monday (April 10). The container manufacturer said there is "substantial doubt" about the company's capacity to continue as a going concern in a regulatory filing late Friday and that it is working with financial advisers to find financing to stay afloat.

Following a grim warning that its future is looking fuzzy, Tupperware's stock plunged by close to 50 per cent on Monday (April 10). The container manufacturer said there is "substantial doubt" about the company's capacity to continue as a going concern in a regulatory filing late Friday and that it is working with financial advisers to find financing to stay afloat. Tupperware claimed that if it doesn't obtain extra funding, company won't have enough cash to support its operations. According to the corporation, it is looking into possible layoffs and assessing its real estate holdings for potential cost-saving measures. The New York Stock Exchange also issued a warning that Tupperware's stock may be delisted for failing to submit the necessary annual report, reported CNN. “Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our capital and liquidity position,” CEO Miguel Fernandez said in a press release. “The company is doing everything in its power to mitigate the impacts of recent events, and we are taking immediate action to seek additional financing and address our financial position.” ALSO READ | Fall of Credit Suisse not a fall of Switzerland, says president The 77-year-old company has had difficulty staying competitive with rivals in recent years. With newer and trendier products, it has been attempting to shed its stuffy reputation and draw in new customers. It also reached a sales agreement with Target last year. Neil Saunders, retail analyst and managing director at GlobalData Retail who spoke to CNN, claims that Tupperware is suffering from a "sharp decline in the number of sellers, a consumer pullback on home products, and a brand that still does not fully connect with younger consumers." “The company used to be a hotbed of innovation with problem-solving kitchen gadgets, but it has really lost its edge,” he said. ALSO READ | A year after crisis, Sri Lanka allows 3 foreign oil companies to sell fuel The move into Target, according to Tupperware (TUP), is a part of the brand's reinvention, which also includes efforts to expand through various retail channels and expose its products to younger consumers who have never even heard of Tupperware (TUP) parties. However, that hasn't worked out so far because shares have fallen 90 per cent in the last year. In November, it again issued a "going concern" alert. WATCH WION LIVE HERE:

Tupperware in trouble? Company stock dips after warning it may go out of business

A year after crisis-hit Sri Lankans stood in long queues outside fuel stations, foreign oil companies will be able to sell fuel in the island nation at a lower rate than what the state-owned oil firm sells at.

Sri Lanka allows 3 foreign oil companies to sell fuel

Russia's Deputy Prime Minister and Minister of Trade and Industry, Denis Manturov, is set to visit India next week for a key inter-governmental meeting aimed at enhancing trade ties between the two countries. Manturov will co-chair the 24th India-Russia Inter-governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) during India visit starting 17th April.

Also Read | <a href="https://www.wionews.com/india-news/is-there-a-medicine-to-stop-this-naz-founder-anjali-gopalan-shares-internal-battles-homosexuals-fight-580795">'Is there a medicine to stop this...?' Indian activist Anjali Gopalan shares internal battles homosexuals fight</a>

The IRIGC-TEC is the primary mechanism at the government level for enhancing trade and economic cooperation between India and Russia. The commission was established by an Agreement on Inter-governmental Commission on Trade, Economic, Scientific and Technological Cooperation signed in May 1992, and the first session of IRIGC was held on 13 and 14 September 1994.

The visit by Manturov comes just a month after a virtual review meeting on trade issues between him and India's External Affairs Minister (EAM) Jaishankar. The two countries have held 23 IRIGC meetings so far. The 23rd session of the IRIGC was held on 14 September 2018 in Moscow.

Also Read | <a href="https://www.wionews.com/world/watch-massive-fire-engulfs-faith-lutheran-church-in-cambridge-after-easter-service-580818">Massive fire engulfs Faith Lutheran Church in Cambridge after Easter service</a>

India and Russia have been working to boost their trade ties, with India increasing its imports of Russian energy in recent months. The visit by Manturov is expected to further enhance the economic cooperation between the two countries that has grown leaps and bounds.&nbsp;

The visit by Manturov to India comes just days after the first visit by any top Ukrainian official to Delhi since the Russia-Ukraine conflict began last year.

Watch | President Vladimir Putin may visit India for G20 summit ?

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First Deputy Minister of Foreign Affairs of Ukraine Emine Dzhaparova is on an India visit and will hold talks with Minister of Minister of State for External Affairs and Culture Meenakshi Lekhi, Sanjay Verma, Secretary (West), MEA and Deputy National Security Adviser Vikram Misri. She will also make an address at ICWA think tank in Delhi.&nbsp;

The Russian Deputy PM's visit is expected to be followed by the visit of Russian Defence minister Sergei Kuzhugetovich Shoigu for the SCO Defence ministers meet from 27th to 28th April in Delhi, and Russian foreign minister Sergey Lavrov for SCO Foreign ministers meet in Goa from 4-5 May.

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Russia's Deputy Prime Minister and Minister of Trade and Industry, Denis Manturov, is set to visit India next week for a key inter-governmental meeting aimed at enhancing trade ties between the two countries.

Russia's Deputy Prime Minister and Minister of Trade and Industry, Denis Manturov, is set to visit India next week for a key inter-governmental meeting aimed at enhancing trade ties between the two countries. Manturov will co-chair the 24th India-Russia Inter-governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) during India visit starting 17th April. Also Read | 'Is there a medicine to stop this...?' Indian activist Anjali Gopalan shares internal battles homosexuals fight The IRIGC-TEC is the primary mechanism at the government level for enhancing trade and economic cooperation between India and Russia. The commission was established by an Agreement on Inter-governmental Commission on Trade, Economic, Scientific and Technological Cooperation signed in May 1992, and the first session of IRIGC was held on 13 and 14 September 1994. The visit by Manturov comes just a month after a virtual review meeting on trade issues between him and India's External Affairs Minister (EAM) Jaishankar. The two countries have held 23 IRIGC meetings so far. The 23rd session of the IRIGC was held on 14 September 2018 in Moscow. Also Read | Massive fire engulfs Faith Lutheran Church in Cambridge after Easter service India and Russia have been working to boost their trade ties, with India increasing its imports of Russian energy in recent months. The visit by Manturov is expected to further enhance the economic cooperation between the two countries that has grown leaps and bounds. The visit by Manturov to India comes just days after the first visit by any top Ukrainian official to Delhi since the Russia-Ukraine conflict began last year. Watch | President Vladimir Putin may visit India for G20 summit ? × First Deputy Minister of Foreign Affairs of Ukraine Emine Dzhaparova is on an India visit and will hold talks with Minister of Minister of State for External Affairs and Culture Meenakshi Lekhi, Sanjay Verma, Secretary (West), MEA and Deputy National Security Adviser Vikram Misri. She will also make an address at ICWA think tank in Delhi. The Russian Deputy PM's visit is expected to be followed by the visit of Russian Defence minister Sergei Kuzhugetovich Shoigu for the SCO Defence ministers meet from 27th to 28th April in Delhi, and Russian foreign minister Sergey Lavrov for SCO Foreign ministers meet in Goa from 4-5 May. 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.

Russia's deputy PM Manturov to visit India for key trade talks, boosting economic ties

A Yemini community is trying to preserve a decades-old tradition of cheese-making. While it is a way to stay afloat in the war-torn economy, the cultural importance supersedes everything else.

Preserving Yemen's age-old cheesy affair! | The West Asia Post

Gold continues to shine in the global markets as it crosses $ 2000 per ounce rising inflation and a gloom economy. The precious yellow Metals rise is driven by a fault in the US dollar the greenback fell to a two-month low and US treasury yields leads on the back of weak economic data from the United States. The crisis Playbook boosts Gold's appeal to investors gold climbed nearly two percent to 2020 dollars per ounce, gold is traditionally considered a hedge against inflation which central banks across the world are trying to curve through interest rate Cuts Commodities across.

Gloomy economic outlook boosts economic crisis

Economies in Asia and the Pacific are projected to grow 4.8% this year and next year, improving on the 4.2% growth rate in 2022, according to the Asian Development Outlook (ADO) April 2023, released today.

ADB: Developing economies in Asia-Pacific to grow 4.8% in 2023 and 2024

ADB says Asia and Pacific to grow by 4.8% in 2023 & 2024

According to a report by the Japan-based publication, Nikkei Asia, the United States is pushing the members of the Group of Seven countries to take joint action against China if it engages in economic coercion against the group’s partners. The G7 countries are Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States along with the European Union.

The report also said that the US government and Congress have disclosed retaliatory measures against Beijing in advance which include raising tariffs. This move is seen as Washington’s bid to discourage Beijing from economically bullying other countries. According to the report, the US has already called for action in working-level talks with G7 nations and asked for it to be on the agenda for this year’s G7 meetings.&nbsp;

The details of what these actions would entail will be discussed with Japan which is also the G7 chair this year ahead of the group’s leaders’ summit scheduled for May. The US has also sought the support of Japan and European partners on the matter, said the report.&nbsp;

This also comes after Congress, in February, also reportedly introduced a bipartisan bill which would grant the president the power to take multiple countermeasures against Chinese economic coercion. In line with this, along with tariffs on Beijing, Washington would also offer support to the countries affected, as per the Japan-based media outlet.&nbsp;

ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/us-calls-for-joint-g7-action-against-chinas-economic-bullying-578215">US calls for joint G7 action against China's economic bullying</a>

It also said how under one of the proposals the US would decrease the duties from the affected country and boost shipments and offset the impact of Chinese bullying. The report also suggests that recently Beijing has used its economic power as leverage to steer foreign relations.&nbsp;

The example given by the Japan-based media outlet was of China increasing tariffs on Australian imports such as coal, wine and barley after Canberra pushed for an independent inquiry into the origins of COVID-19. Similarly, China also imposed restrictions on imports from Lithuania from European nations to strengthen their ties with Taiwan.&nbsp;

The report, citing analysts, also noted that China is breaking World Trade Organisation rules by applying such economic pressure on other countries. Therefore, the US reportedly views the joint action as more effective than a unilateral approach as many countries are heavily dependent on China, economically.&nbsp;

According to the report, Washington also believes that the framework it is working on will help countries cover each other's losses from trade in an emergency and would help reduce the toll they would suffer in the Chinese market. However, one major hurdle would be Germany and Japan’s deep economic ties with China which would pose a challenge to the US’ bid to draw up unified rules.&nbsp; 
&nbsp;

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According to a report by the Japan-based publication, Nikkei Asia, the United States is pushing the members of the Group of Seven countries to take joint action against China if it engages in economic coercion against the group’s partners.

According to a report by the Japan-based publication, Nikkei Asia, the United States is pushing the members of the Group of Seven countries to take joint action against China if it engages in economic coercion against the group’s partners. The G7 countries are Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States along with the European Union. The report also said that the US government and Congress have disclosed retaliatory measures against Beijing in advance which include raising tariffs. This move is seen as Washington’s bid to discourage Beijing from economically bullying other countries. According to the report, the US has already called for action in working-level talks with G7 nations and asked for it to be on the agenda for this year’s G7 meetings. The details of what these actions would entail will be discussed with Japan which is also the G7 chair this year ahead of the group’s leaders’ summit scheduled for May. The US has also sought the support of Japan and European partners on the matter, said the report. This also comes after Congress, in February, also reportedly introduced a bipartisan bill which would grant the president the power to take multiple countermeasures against Chinese economic coercion. In line with this, along with tariffs on Beijing, Washington would also offer support to the countries affected, as per the Japan-based media outlet. ALSO WATCH | US calls for joint G7 action against China's economic bullying It also said how under one of the proposals the US would decrease the duties from the affected country and boost shipments and offset the impact of Chinese bullying. The report also suggests that recently Beijing has used its economic power as leverage to steer foreign relations. The example given by the Japan-based media outlet was of China increasing tariffs on Australian imports such as coal, wine and barley after Canberra pushed for an independent inquiry into the origins of COVID-19. Similarly, China also imposed restrictions on imports from Lithuania from European nations to strengthen their ties with Taiwan. The report, citing analysts, also noted that China is breaking World Trade Organisation rules by applying such economic pressure on other countries. Therefore, the US reportedly views the joint action as more effective than a unilateral approach as many countries are heavily dependent on China, economically. According to the report, Washington also believes that the framework it is working on will help countries cover each other's losses from trade in an emergency and would help reduce the toll they would suffer in the Chinese market. However, one major hurdle would be Germany and Japan’s deep economic ties with China which would pose a challenge to the US’ bid to draw up unified rules. 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.

US calls for G7 joint response to prevent China’s economic bullying of other countries: Report

The damage to Ukraine’s metal industry has crippled a lucrative sector and key employer needed to support an economy cratered by war. Watch the video to know more.

Ukraine's economy cratered by war, metal industry a pillar to boost it |

Russian news agency, Sputnik claims that china and Russia had become world leaders in trade surplus in 2022. This statistic has raised doubts about the impact of US-led sanctions against Russia for invading Ukraine. The study done by Sputnik was based on data from the national statistical agencies of the world's 60 largest economies.

Report says Russia moves up to 2nd place among major global economies

Pakistan's former prime minister Imran Khan held a mega public rally overnight in Lahore. During the address, he alleged that the ruling coalition has no plan to save the country from the crisis in which it finds itself engulfed in since last year.

Reviving tourism, attracting FDI included in Imran Khan's 10-point plan

Oil prices rose more than two&nbsp;per cent&nbsp;on Tuesday, extending a retreat from a 15-month low hit the previous day, as the rescue of Credit Suisse allayed concerns of a banking crisis that would hurt economic growth and cut fuel demand.

Measures to stabilise the banking sector, including a UBS takeover of Credit Suisse and pledges from major central banks to boost liquidity, have calmed fears about the financial system that roiled markets last week.

"Fears of a banking crisis and a recession have eased, brightening the oil demand outlook at least for now," said Fiona Cincotta, Senior Financial Markets Analyst at City Index.

Brent crude settled up $1.53, or 2.1 per cent, at $75.32 a barrel, while US&nbsp;West Texas Intermediate (WTI) closed up $1.69, or 2.5 per cent&nbsp;to $69.33.

On Monday, both benchmarks ended about one&nbsp;per cent&nbsp;higher after falling to their lowest since December 2021, with WTI sinking below $65 at one point. Last week, they shed more than 10 per cent&nbsp;as the banking crisis deepened.

"A 'risk back on' sentiment seems to be coming back to crude, as the latest selloff may very well have been exaggerated liquidation," said Dennis Kissler, senior vice president of trading at BOK Financial.

The US&nbsp;Federal Reserve started its monetary policy meeting on Tuesday. Markets expect a rate hike of 25 basis points, down from previous expectations of a 50 bps increase. Some top central bank watchers have said the Fed could pause further rate hikes or delay releasing new economic projections.

Wall Street indexes also closed sharply higher on Tuesday as fears over liquidity in the banking sector abated and market participants eyed the Fed.

Meanwhile, US&nbsp;crude oil inventories rose by about 3.3 million barrels last week, according to market sources citing American Petroleum Institute figures. That compared with Reuters estimates for a draw of 1.6 million barrels.

Figures from the US&nbsp;Energy Information Agency are due on Wednesday.

A meeting of ministers from OPEC+, which includes members of the Organization of Petroleum Exporting Countries plus Russia and other allies, is scheduled for April 3. OPEC+ sources told Reuters the drop in prices reflects banking fears rather than supply and demand.

Hedge fund manager Pierre Andurand agreed the latest price drop was speculative and not based on fundamentals. He predicted oil will hit $140 a barrel by year-end.

The CEO of energy trader Gunvor, Torbjorn Tornqvist, said he expected oil prices to move higher toward year end as rising Chinese demand tightens the market further.

Money managers cut their net long US&nbsp;crude futures and options positions in the week to March 14, the US Commodity Futures Trading Commission (CFTC) said.

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Oil prices rose more than two per cent on Tuesday, extending a retreat from a 15-month low hit the previous day, as the rescue of Credit Suisse allayed concerns of a banking crisis that would hurt economic growth and cut fuel demand.

Oil prices rose more than two per cent on Tuesday, extending a retreat from a 15-month low hit the previous day, as the rescue of Credit Suisse allayed concerns of a banking crisis that would hurt economic growth and cut fuel demand. Measures to stabilise the banking sector, including a UBS takeover of Credit Suisse and pledges from major central banks to boost liquidity, have calmed fears about the financial system that roiled markets last week. "Fears of a banking crisis and a recession have eased, brightening the oil demand outlook at least for now," said Fiona Cincotta, Senior Financial Markets Analyst at City Index. Brent crude settled up $1.53, or 2.1 per cent, at $75.32 a barrel, while US West Texas Intermediate (WTI) closed up $1.69, or 2.5 per cent to $69.33. On Monday, both benchmarks ended about one per cent higher after falling to their lowest since December 2021, with WTI sinking below $65 at one point. Last week, they shed more than 10 per cent as the banking crisis deepened. "A 'risk back on' sentiment seems to be coming back to crude, as the latest selloff may very well have been exaggerated liquidation," said Dennis Kissler, senior vice president of trading at BOK Financial. The US Federal Reserve started its monetary policy meeting on Tuesday. Markets expect a rate hike of 25 basis points, down from previous expectations of a 50 bps increase. Some top central bank watchers have said the Fed could pause further rate hikes or delay releasing new economic projections. Wall Street indexes also closed sharply higher on Tuesday as fears over liquidity in the banking sector abated and market participants eyed the Fed. Meanwhile, US crude oil inventories rose by about 3.3 million barrels last week, according to market sources citing American Petroleum Institute figures. That compared with Reuters estimates for a draw of 1.6 million barrels. Figures from the US Energy Information Agency are due on Wednesday. A meeting of ministers from OPEC+, which includes members of the Organization of Petroleum Exporting Countries plus Russia and other allies, is scheduled for April 3. OPEC+ sources told Reuters the drop in prices reflects banking fears rather than supply and demand. Hedge fund manager Pierre Andurand agreed the latest price drop was speculative and not based on fundamentals. He predicted oil will hit $140 a barrel by year-end. The CEO of energy trader Gunvor, Torbjorn Tornqvist, said he expected oil prices to move higher toward year end as rising Chinese demand tightens the market further. Money managers cut their net long US crude futures and options positions in the week to March 14, the US Commodity Futures Trading Commission (CFTC) said. 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.

Oil rises 2% in retreat from 15-months low as banking fears subside

The IMF has approved a $3 billion bailout programme to help debt-ridden Sri Lanka overcome its economic crisis and catalyse financial support from other development partners, a move welcomed by Colombo on Tuesday as a "historic milestone" in the critical period.

IMF approves $3 billion in financial assistance for debt-ridden Sri Lanka

Here we bring you a quick round-up of all latest news and top headlines from all across the globe.

Festive spirit eludes bankrupt Pakistan | WION Speed News

China set a growth target of “around 5%” for 2023, according to Premier Li Keqiang’s government work report released Sunday. India's GDP growth slowed to 4.4% between October to December 2022 quarter from 6.3% in the second quarter (Q2) of 2022-23 as per the National Statistical Office (NSO), which retained its full year growth estimate for the economy at 7%, despite revising 2021-22 GDP rise higher to 9.1% from 8.7% earlier reckoned.

China sets GDP target of ‘around 5%’ for 2023, India's Q3 GDP growth slows to 4.4%

According to India's national statistical office, the annual per capita income at current prices is estimated at $2100 in 2022-23 up from one $1060 in 2014-15 suggesting an increase of about 99 percent while in real terms the per capita income has increased by about 35 percent from 891 dollars in 2014 to more than twelve hundred dollars in 2022-23.

India's per capita income up from $1060 in 2014-15

One important conclusion has emerged following a mixed earnings season in Australia: things will only get worse. Negative profit surprises were reported by 158 S&P/ASX 200 index companies, or almost 41% of them, when they released their half-year results in February.

Cracks beginning to form in Australia's economy

India and Sri Lanka are exploring the possibility of using the Indian rupee for economic transactions and have discussed the initiative that will help in building a stronger and closer partnership between the two countries.

Sri Lanka mull using Indian rupee for economic transactions

The World Bank and India signed two complimentary loans on Friday (March 4)&nbsp;totaling US$&nbsp;500 million each, in order to strengthen and improve the nation's healthcare infrastructure, as per PTI reports.&nbsp;

The bank will support India's Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), launched in October 2021, to improve the public healthcare infrastructure across the nation, through this combined financing of US$&nbsp;1 billion (roughly 8,200 crores), the multilateral funding agency said in a statement.

One of the loans would prioritise health service delivery in seven states, including Andhra Pradesh, Kerala, Meghalaya, Odisha, Punjab, Tamil Nadu, and Uttar Pradesh, in addition to the interventions at the national level, it stated.

Rajat Kumar Mishra, additional secretary for the department of economic affairs, and Auguste Tano Kouamé, country director for India at the World Bank, are listed as the signatories on the agreement.

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/india-police-find-more-than-150-litres-of-holi-special-liquor-hidden-inside-a-pond-in-bihar-568487">India: Police find more than 150 litres of ‘Holi special’ liquor hidden inside a pond in Bihar</a>

The COVID-19 pandemic was a sharp reminder that pandemic preparedness is a global public good and brought to light the critical need for pandemic preparedness and health system improvement worldwide, according to Auguste Tano Kouamé.

According to the statement, the two projects are assisting India in its decision to strengthen the health system's capacity to withstand probable pandemics. It also added that this decision will have a significant beneficial effect on the individuals of the states taking part in the projects as well as have positive spillover effects on other states.

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/intelligence-chiefs-of-25-countries-to-meet-in-delhi-by-march-end-568474">Intelligence chiefs from 25 countries met in India this week</a>

India has become more efficient over time in the area of health. 69.8 years in 2020, up from 58 in 1990, is greater than the average life expectancy for the country's socioeconomic level, according to World Bank projections.

Notwithstanding these improvements in the health of the Indian population, COVID-19 has emphasised the need for kickstarting, reforming, and building capacity for fundamental public health responsibilities, as well as for raising the standard and comprehensiveness of health care delivery, it stated.

(With inputs from agencies)

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The World Bank and India signed two complimentary loans on Friday (March 4) totaling US$ 500 million each, in order to strengthen and improve the nation's healthcare infrastructure, as per PTI reports.

The World Bank and India signed two complimentary loans on Friday (March 4) totaling US$ 500 million each, in order to strengthen and improve the nation's healthcare infrastructure, as per PTI reports. The bank will support India's Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), launched in October 2021, to improve the public healthcare infrastructure across the nation, through this combined financing of US$ 1 billion (roughly 8,200 crores), the multilateral funding agency said in a statement. One of the loans would prioritise health service delivery in seven states, including Andhra Pradesh, Kerala, Meghalaya, Odisha, Punjab, Tamil Nadu, and Uttar Pradesh, in addition to the interventions at the national level, it stated. Rajat Kumar Mishra, additional secretary for the department of economic affairs, and Auguste Tano Kouamé, country director for India at the World Bank, are listed as the signatories on the agreement. ALSO READ | India: Police find more than 150 litres of ‘Holi special’ liquor hidden inside a pond in Bihar The COVID-19 pandemic was a sharp reminder that pandemic preparedness is a global public good and brought to light the critical need for pandemic preparedness and health system improvement worldwide, according to Auguste Tano Kouamé. According to the statement, the two projects are assisting India in its decision to strengthen the health system's capacity to withstand probable pandemics. It also added that this decision will have a significant beneficial effect on the individuals of the states taking part in the projects as well as have positive spillover effects on other states. ALSO READ | Intelligence chiefs from 25 countries met in India this week India has become more efficient over time in the area of health. 69.8 years in 2020, up from 58 in 1990, is greater than the average life expectancy for the country's socioeconomic level, according to World Bank projections. Notwithstanding these improvements in the health of the Indian population, COVID-19 has emphasised the need for kickstarting, reforming, and building capacity for fundamental public health responsibilities, as well as for raising the standard and comprehensiveness of health care delivery, it stated. (With inputs from agencies) WATCH WION LIVE HERE:

World Bank commits $1 billion to support India’s public healthcare infrastructure

Inflation in Pakistan has broken a 50-year record. It has now touched 31.5%. What explains this? Molly Gambhir brings you a report.

Gravitas: Inflation breaks 50-year record in Pakistan

Week after week we have been reporting on the abysmal state of affairs in Pakistan with the country's economy tottering on the brink of collapse and if you needed more evidence of how desperate and anguished the Pakistani citizens are here it is in a viral video. A Pakistani man says "Allah! Give us Modi, so that he can fix our country" he wants the Indian Prime Minister to govern Pakistan. Yes, that's how bad things really are in the country. Neha Khanna tells you more in this report.

Inside South Asia: Pakistan economy on the brink

The Iranian currency, the rial, hit a new record low against the United States dollar, on Sunday (February 26) with nearly 600,000 rials to the dollar on the unofficial market. This comes as the country is reportedly in the midst of witnessing anti-government protests and for the first time is facing the impact of the breakdown of the 2015 nuclear deal. Furthermore, reports have also attributed this drop to the country’s increasing international isolation over its human rights violations and reportedly supplying drones to Russia.&nbsp;

On the unofficial market, a US dollar was worth as much as 601,500 rials when compared to the day prior when it was able to fetch at least 575,000, as per Reuters. The dire economic conditions have forced Iranians to form long lines outside exchange offices in recent days hoping to receive increasingly scarce dollars as the local currency has deteriorated.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/iran-saudi-arabia-close-on-restoration-of-bilateral-ties-after-latest-talks-552401">Iran-Saudi Arabia close on restoration of bilateral ties after latest talks</a>

According to Tehran’s statistics centre, inflation soared to 53.4 per cent in January which is up from 41.4 per cent in 2021. Amid the rise in prices and economic hardship, Iranians have turned to the US dollar or gold to protect their savings. Additionally, in a bid to calm the market and ease demand for the US currency, on Saturday, the central bank also lifted a ban on private exchange shops selling hard currencies in Iran.&nbsp;

To put this amount into perspective, the Iranian rial was trading at 32,000 rials to the dollar when the 2015 nuclear accord was signed, reported the Associated Press, which had eased the sanctions on Tehran for limiting its nuclear activities.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/iran-says-it-has-developed-long-range-cruise-missile-565701">Iran says it has developed long-range cruise missile, triggers concerns in West</a>

However, when former US President Donald Trump had withdrawn from the agreement and the sanctions on Iran were restored it affected the country’s economy. The move has since led to an increase in Iran’s production of Uranium, as per the United Nations nuclear watchdog.&nbsp;

Iran’s economic conditions have also contributed to widespread anger among its citizens, as per reports, while the country’s officials have blamed it on “the enemies’ plot” to destabilise the Islamic Republic. The claim was made in the context of the months of nationwide protests after the death of&nbsp;Mahsa Amini after she was detained by authorities for her alleged breach of the dress code.

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/iran-executes-second-protester-in-less-than-a-week-rights-group-claim-450-killed-in-protests-542169">Iran executes second protester in less than a week; rights group claims 450 killed in protests</a>

According to reports, protests have continued in parts of Iran despite the government’s harsh crackdown. Meanwhile, Tehran has also recently faced pressure from the West after accusations of supplying drones to Russia for using it amid its conflict with Ukraine, a claim that Iran has denied.&nbsp;

(With inputs from agencies)&nbsp; 
 
 
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The Iranian currency, the rial, hit a new record low against the United States dollar, on Sunday (February 26) with nearly 600,000 rials to the dollar on the unofficial market.

The Iranian currency, the rial, hit a new record low against the United States dollar, on Sunday (February 26) with nearly 600,000 rials to the dollar on the unofficial market. This comes as the country is reportedly in the midst of witnessing anti-government protests and for the first time is facing the impact of the breakdown of the 2015 nuclear deal. Furthermore, reports have also attributed this drop to the country’s increasing international isolation over its human rights violations and reportedly supplying drones to Russia. On the unofficial market, a US dollar was worth as much as 601,500 rials when compared to the day prior when it was able to fetch at least 575,000, as per Reuters. The dire economic conditions have forced Iranians to form long lines outside exchange offices in recent days hoping to receive increasingly scarce dollars as the local currency has deteriorated. ALSO READ | Iran-Saudi Arabia close on restoration of bilateral ties after latest talks According to Tehran’s statistics centre, inflation soared to 53.4 per cent in January which is up from 41.4 per cent in 2021. Amid the rise in prices and economic hardship, Iranians have turned to the US dollar or gold to protect their savings. Additionally, in a bid to calm the market and ease demand for the US currency, on Saturday, the central bank also lifted a ban on private exchange shops selling hard currencies in Iran. To put this amount into perspective, the Iranian rial was trading at 32,000 rials to the dollar when the 2015 nuclear accord was signed, reported the Associated Press, which had eased the sanctions on Tehran for limiting its nuclear activities. ALSO READ | Iran says it has developed long-range cruise missile, triggers concerns in West However, when former US President Donald Trump had withdrawn from the agreement and the sanctions on Iran were restored it affected the country’s economy. The move has since led to an increase in Iran’s production of Uranium, as per the United Nations nuclear watchdog. Iran’s economic conditions have also contributed to widespread anger among its citizens, as per reports, while the country’s officials have blamed it on “the enemies’ plot” to destabilise the Islamic Republic. The claim was made in the context of the months of nationwide protests after the death of Mahsa Amini after she was detained by authorities for her alleged breach of the dress code. ALSO READ | Iran executes second protester in less than a week; rights group claims 450 killed in protests According to reports, protests have continued in parts of Iran despite the government’s harsh crackdown. Meanwhile, Tehran has also recently faced pressure from the West after accusations of supplying drones to Russia for using it amid its conflict with Ukraine, a claim that Iran has denied. (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.

Iranian rial plunges to record low amid anti-government protests, international isolation

In a meeting with the International Monetary Fund, India, and other creditor countries on Saturday, the World Bank's president stated that the organisation will "give as much concessionality to the debt treatment" for struggling economies as possible.

World Bank vows to aid distressed economies

In response to Russia's invasion of Ukraine during the past year, hundreds of international businesses have left the country. Russians have been compelled to find alternatives for everything from smartphones to cars as a result.

Chinese products have flooded Russia after global brands boycott

Pakistan's economic situation is going from bad to worse. Amid the economic turmoil, a desperate plea of a Pakistani citizen has gone viral where he wishes that Indian PM Narendra Modi could run their country. Molly Gambhir reports.

Gravitas: Pak citizen's desperate plea goes viral

Higher salaries are going to go up unlike many parts of the world. Salaries in India are expected to increase by 10.3 percent in 2023 which is highest among major world economies.

India: Salary growth to continue despite economic volatility

Amid the ongoing economic crisis in the country, the island nation of Sri Lanka is struggling to hold local elections. However, upcoming elections will not affect the government's majority.

Sri Lanka economic crisis: Colombo struggles to hold local elections

Sri Lanka’s President Ranil Wickremesinghe is facing mounting pressure from the political Opposition and civil society over his government’s apparent attempts to postpone local government polls, scheduled in early March, citing the lack of funds.

Sri Lanka local polls in Jeopardy

Several dozen Lebanese protesters attacked banks in a Beirut neighborhood, while blocking roads protesting against informal restrictions on cash withdrawals in place for years and rapidly deteriorating economic conditions.

Beirut: Protest against cash withdrawal rule

UK's annual inflation rate dropped further last month, official data showed on Wednesday (February 15). However, it still remained above 10 per cent. This has potential to prolong cost-of-living crisis that has sparked huge strikes.

The UK Consumer Prices Index (CPI) fell to 10.1 percent in January compared with a rate of 10.5 percent in December, the Office for National Statistics (ONS) said in a statement.&nbsp;

Inflation around the world is easing after striking the highest levels in decades last year as the invasion of Ukraine by Russia fuelled energy and food prices.&nbsp;

The news sent the pound diving 1.5 percent to $1.1990 in afternoon trade as dealers bet on less aggressive monetary policy from the Bank of England (BoE).&nbsp;

In turn, that helped push London's benchmark FTSE 100 index of top companies to a record peak above 8,000 points.&nbsp;

The struggling pound boosts London-listed multinationals whose earnings are in dollars.&nbsp;

In October, the inflation in UK was above 11 per cent. The high inflation over months has eroded the value of wages. Britain is currently facing its biggest strikes by public and private sector workers in more than a decade.&nbsp;

"These latest figures show the cost-of-living crisis is still pummelling workers' pay packets," said Sharon Graham, general secretary at major British union Unite.&nbsp;

"Unite will continue to fight for and win better wages in the face of this crisis," she added in a statement.&nbsp;

A separate measure of UK inflation -- the retail prices index -- was unchanged at 13.4 percent in January.&nbsp;

(With inputs from agencies)

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UK's annual inflation rate dropped further last month, official data showed on Wednesday (February 15). However, it still remained above 10 per cent. This has potential to prolong cost-of-living crisis that has sparked huge strikes.

UK's annual inflation rate dropped further last month, official data showed on Wednesday (February 15). However, it still remained above 10 per cent. This has potential to prolong cost-of-living crisis that has sparked huge strikes. The UK Consumer Prices Index (CPI) fell to 10.1 percent in January compared with a rate of 10.5 percent in December, the Office for National Statistics (ONS) said in a statement. Inflation around the world is easing after striking the highest levels in decades last year as the invasion of Ukraine by Russia fuelled energy and food prices. The news sent the pound diving 1.5 percent to $1.1990 in afternoon trade as dealers bet on less aggressive monetary policy from the Bank of England (BoE). In turn, that helped push London's benchmark FTSE 100 index of top companies to a record peak above 8,000 points. The struggling pound boosts London-listed multinationals whose earnings are in dollars. In October, the inflation in UK was above 11 per cent. The high inflation over months has eroded the value of wages. Britain is currently facing its biggest strikes by public and private sector workers in more than a decade. "These latest figures show the cost-of-living crisis is still pummelling workers' pay packets," said Sharon Graham, general secretary at major British union Unite. "Unite will continue to fight for and win better wages in the face of this crisis," she added in a statement. A separate measure of UK inflation -- the retail prices index -- was unchanged at 13.4 percent in January. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

UK inflation eases, but stays above 10 per cent

Experts have warn that Pakistan could very well go to the Sri Lanka way. But despite the dire situation instead of spending its limited financial resources on public welfare and infrastructure development, the country has been increasing its defence budget year after year.

Inside South Asia: Bankrupt Pakistan's misplaced priorities

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