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2Jul

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Wickremesinghe responds to critics on Sri Lanka’s debt restructuring deal – Times of India

COLMBO: Sri Lankan President Ranil Wickremesinghe on Tuesday countered the Opposition's criticism of the cash-strapped country's external debt restructuring agreement with major bilateral creditors and promised to table all agreements and documents regarding debt restructuring to a parliamentary panel for scrutiny. The planned two-day debate in Parliament on the deal was, however, postponed as Opposition members protested the lack of transparency regarding the agreements reached.Dismissing the Opposition's criticism as inaccurate, Wickremesinghe argued, "No bilateral creditor would agree to a reduction of principal amount.Instead, concessions are allowed through extended repayment periods, grace periods and lower interest rates."The president, who also holds the portfolio as the finance...

Retail inflation easing, food prices remain a concern: RBI | India News – Times of India

NEW DELHI: Retail inflation is gradually easing but the path has been interrupted by volatile and elevated food inflation, which may cause it to reverse after a temporary fall below the target during the second quarter of 2024-25, a RBI bulletin said on Wednesday.The central bank has consistently cautioned about the volatile food prices, particularly of vegetables and some cereals, which have come under pressure due to the heatwave sweeping across some states.While prediction of normal monsoon rains may augur well for crops and improve supplies, the impact of weather related shocks needs close monitoring."As long as food price pressures persist, however, the goal of aligning inflation with its target remains a work in progress," according to the RBI document. The central bank has a targ...

US employers added a robust 272,000 jobs in May in a sign of sustained economic health – Times of India

WASHINGTON: America's employers added a strong 272,000 jobs in May, accelerating from April and a sign that companies are still confident enough in the economy to keep hiring despite persistently high interest rates. Last month's sizable job gain suggests that the economy is still growing steadily, propelled by consumer spending on travel, entertainment and other services.US airports, for example, reported record traffic over the Memorial Day weekend. A healthy job market typically drives consumer spending, the economy's principal fuel. Though some recent signs had raised concerns about economic weakness, May's jobs report should help assuage those fears. Still, Friday's report from the government included some signs of a potential slowdown. The unemployment rate, for example, edged up ...