Import pricey fuel or brave long outages: NEPRA chief.

Creative Media NewsWednesday, 29 June 2022, 3:000

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) noted on Monday, while finalizing an unprecedented Rs7.90 per unit additional fuel cost adjustment (FCA) for distribution companies (Discos) for next month, that Pakistan had no choice but to endure load shedding or generate electricity using expensive fuel oil. Chairman Nepra Tauseef H Farooqui, who presided over...

In Sri Lanka, non-essential gasoline sales were prohibited for two weeks.

Creative Media NewsWednesday, 29 June 2022, 2:000

Amid its greatest economic crisis in decades, Sri Lanka has ceased selling fuel for non-essential automobiles. For the next two weeks, only buses, trains, and vehicles bringing medical services and food will be permitted to refuel. Officials have ordered the country’s 22 million citizens to work from home and have closed urban schools. As it...

Walgreens abandons the $5 billion sale of Britain’s largest chemist, Boots.

Creative Media NewsTuesday, 28 June 2022, 15:290

Walgreens Boots Alliance admits that it is abandoning an auction of the main high street pharmacy in the United Kingdom because of the deteriorating financial climate. In response to volatile global debt-financing markets, the owner of Boots the Chemist has abandoned plans to sell Britain’s largest high-street drugstore firm. Walgreens Boots Alliance confirmed that, following a...

Sunak will meet with insurance executives to discuss “Big Bang” Solvency-II reforms.

Creative Media NewsTuesday, 28 June 2022, 2:040

The chancellor will meet with executives from companies such as Aviva and Lloyd’s of London in search of a post-Brexit economic dividend. The chancellor, Rishi Sunak, will meet with senior insurance executives on Monday as the government attempts to chart a course for reforms that it claims will free up vast sums for investment in...

Crisis-stricken Sri Lanka closes schools and encourages labor at home to conserve fuel.

Creative Media NewsMonday, 27 June 2022, 16:000

On Monday, troops in Sri Lanka distributed tokens to citizens waiting in line for gasoline due to a severe fuel scarcity caused by the nation’s greatest economic crisis in seven decades. Schools were closed in Colombo and state employees were told to work from home. With record-low foreign exchange reserves, the 22 million-person island struggles...

Boris Johnson indicates that import controls on steel will continue.

Creative Media NewsMonday, 27 June 2022, 14:030

When asked if this could result in a possible violation of international law, Boris Johnson responded, “these are difficult decisions we must make.” The prime minister has indicated that import restrictions on steel, which were set to expire this week, may be extended. It follows an approach proposed by the secretary of international trade on...

Should first-time buyers purchase a home immediately or wait? An expert view.

Creative Media NewsMonday, 27 June 2022, 13:550

Gemma Godfrey, an expert in personal finance, responds to a question posed by a significant number of individuals seeking to climb the housing ladder. First-time buyers throughout the United Kingdom are faced with a crucial question: should we buy now or wait for the market to cool? The Office of National Statistics reported that the...

Japan urges 37 million individuals to turn off their lights.

Creative Media NewsMonday, 27 June 2022, 13:470

The Japanese government urged residents of Tokyo and its surrounding areas to use less electricity on Monday, warning that supplies will be strained due to a heatwave sweeping the country. This afternoon, the Ministry of Economy, Trade, and Industry anticipates “severe” electricity demand. It was recommended that people turn off unnecessary lights but continue to...

Bondholders assert that Russia defaulted on its first foreign debt in more than a century.

Creative Media NewsMonday, 27 June 2022, 13:400

According to reports, Russia has missed a payment deadline for its international bonds, which would mark the country’s first default since the 1917 Bolshevik Revolution. The Russian Ministry of Finance asserts that it has made the payments and fulfilled its obligations, suggesting that western sanctions have impeded the country’s efforts. Sunday’s expiration of a grace...

Roe v. Wade: US firms pledge to pay travel expenses for abortions incurred by staff.

Creative Media NewsMonday, 27 June 2022, 13:220

Major corporations, including Disney, JP Morgan, and Meta, the owner of Facebook, have informed their employees that they will cover travel expenses for abortions, as millions of American women face restricted access. It follows a landmark decision by the Supreme Court of the United States, which invalidated the constitutional right to abortion. The decision allows...

Cost of living: Gasoline retailers are accused of “rocket and feather” pricing as the price of unleaded reaches a new high.

Creative Media NewsMonday, 27 June 2022, 13:150

A motoring organization suggests that the CMA’s review of the petrol market should consider why petrol prices are not falling, accusing retailers of acting slowly to protect their margins. Retailers of gasoline have been accused of forcing “rocket and feather” pricing after the average price of unleaded reached a new, unexpected record high over the...

Food purchases are reduced as a result of the rising cost of living.

Creative Media NewsSaturday, 25 June 2022, 19:000

In response to the rising cost of living, households are reducing their food purchases. Due to increasing prices, nearly half of respondents surveyed by the Office for National Statistics (ONS) reported purchasing less food during the last two weeks. According to the ONS, the price of food was also the most common reason why respondents’...

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