economy

Flight bookings for leisure and business travel top 2019 levels

For the first time since the start of the pandemic, global leisure and business flights have risen to levels not seen since 2019. That’s according to the Mastercard Economics Institute’s third annual travel report, titled “Travel 2022: Trends & Transitions,” published yesterday. After analyzing 37 global markets, the report found that cross-border travel reached pre-pandemic …

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Warning that thousands of Plymouth households face ruin as prices soar

Thousands of Plymouth families are struggling to cope as the cost-of-living crisis intensifies with Citizens Advice warning mounting inflation means many city households face ruin. Business groups are also concerned about the impact of spiralling prices on the city’s firms as inflation hit an eye-watering nine per cent. Citizens Advice Plymouth revealed that in the …

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As inflation slows and ruble rallies, Russia is hoping to avoid a crisis

Russian President Vladimir Putin. Pool | Reuters Russia believes it has swerved a financial crisis as its currency rallies and economic data improves, but strategists say the numbers mask some ugly truths for Moscow. Although inflation in the country is running hot, there are signs that price rises are slowing and will continue to do …

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‘Jobs are at stake’: Asia ‘playing catch-up’ on post-COVID travel | Aviation

The head of the global airline body says the region falling behind the rest of the world on restarting international travel. Asia-Pacific countries are “playing catch-up” on restarting international travel and should ease remaining pandemic-related border restrictions without delay, the head of the global airline industry’s representative body said on Tuesday. Speaking at an aviation …

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Can Brazil and Argentina satiate India’s food oil hunger? | Business and Economy News

Bengaluru, India – Aneesha Thakur has used sunflower oil in her kitchen for as long as she can remember. Last week, she broke with that habit, buying a bottle of soybean oil instead to fry fish for her teenage sons. The neighborhood supermarket, which usually has rows stacked with sunflower oil brands, had none of …

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Billionaire Adani to buy Holcim’s India cement biz for $ 10.5bn | Business and Economy News

Swiss building-materials firm Holcim Ltd. agreed to sell its Indian operations to local billionaire Gautam Adani, currently the richest person in Asia, another step in Chief Executive Officer Jan Jenisch’s pivot away from traditional cement. The company will sell its 63% stake in Mumbai-listed Ambuja Cements Ltd. to Adani Group, it said in a statement …

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Indonesian farmers decry palm oil export ban as prices plummet | Food

Medan, Indonesia – Indonesia, the world’s largest producer of palm oil, has struggled with rising prices and low stocks of cooking oil amid a surge in global prices of the raw ingredient. Citing the need to control the price spikes, which have been exacerbated by the Ukraine war, disappointing harvests and the COVID-19 pandemic, Indonesian …

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China’s economy slows sharply as ‘zero COVID’ pummels activity | Coronavirus pandemic

China’s economy slowed sharply in April as Beijing’s ultra-strict “dynamic zero COVID” strategy dragged consumption and industrial production to their lowest levels since early 2020. The deteriorating economic picture comes as authorities have imposed full or partial lockdowns on dozens of Chinese cities, including the financial capital Shanghai, where more than 25 million residents have …

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