Sri Lanka bans import of 300 items of consumer goods to stabilise economy

Sri Lanka bans import of 300 items of consumer goods to stabilise economy

Sri Lanka has slapped a ban on the import of 300 consumer items like chocolates, perfumes and shampoos as part of the cash-strapped island nation’s bid to tackle its worst economic crisis triggered by the shortage of foreign exchange. Sri Lanka is going through its worst economic crisis since its independence in 1948. The worsening…

How China plans to spend $1 trn on infrastructure to boost economy

How China plans to spend $1 trn on infrastructure to boost economy

China is pumping trillions of yuan into infrastructure investment, stimulus that could benefit the world’s second-largest economy well beyond this year’s gloom of Covid lockdowns and property market turmoil. Beijing is making 6.8 trillion yuan (about $1 trillion) of government funds available for construction projects, according to Bloomberg calculations based on official announcements. Total spending could be even…