Foreign

The Adani Group’s decision to abandon its $2.5-billion share sale has worsened the Indian conglomerate’s market rout. Over $100 billion has now been wiped off stock values of its seven listed companies over the past week. The group’s flagship, Adani Enterprises, plummeted 25% again on Thursday after the Adani board called off the share offer…

Pakistan is gripped by a major economic crisis, with the rupee plummeting, inflation soaring and energy in short supply as IMF officials visit to discuss a vital cash injection. Prime Minister Shehbaz Sharif for months held out against the tax rises and subsidy slashing demanded by the International Monetary Fund, fearful of backlash ahead of…

The US Political Affairs Under-Secretary Victoria Nuland, who is currently on an official visit to Sri Lanka, expressed her Government’s support for the on-going recovery efforts in the country. This was revealed during a meeting with President Ranil Wickremesinghe yesterday. During the discussions President Wickremesinghe extended his appreciation for the support provided by the US…