Profitloss Centerstage Events

Black market value of the Lebanese pound took center stage on Thursday, 26 May 2022 among all major events across the globe, and remains the highlight of this week's list of center stage events.
Picture Courtesy: Profit loss

Centerstage events of week 4

Sri Lanka currently raises fuel prices to address the economic...

Sri Lanka currently raises fuel prices to address the economic crisis and improve public finances. Acting Prime Minister Ranil Wickremesinghe cautions about the potential for further inflationary pressures, stating, "There is a possibility that inflation will increase further." This move aims to mitigate the country's debilitating financial situation. The government takes action to stabilize the economy, but the consequence may be an upward trajectory in inflationary trends.

Monday, 23 May, 2022

Marks & Spencer, a British retail chain, currently announces the...

Marks & Spencer, a British retail chain, currently announces the permanent closure of all its 48 stores in Russia, resulting in the loss of 1,200 jobs. The company cites being a "values-led business" as the reason behind the decision. This move reflects their current stance and strategic direction. The closure of these stores aligns with the company's commitment to their core principles and priorities.

Tuesday, 24 May, 2022

The black market value of the Lebanese pound currently reaches...

The black market value of the Lebanese pound currently reaches an unprecedented low of 35,600 against the US dollar, plummeting from 26,800 in just two weeks. This sharp depreciation signifies the ongoing economic crisis in Lebanon, exacerbating the country's challenges. As a result, petrol prices have surged by nearly 25% within three weeks. Additionally, the government is anticipated to reduce medicine subsidies and raise their prices. Authorities are implementing temporary measures to address wheat shortages.

Wednesday, 25 May, 2022

Fiji has officially joined the Indo-Pacific Economic Framework for Prosperity...

Fiji has officially joined the Indo-Pacific Economic Framework for Prosperity (IPEF), becoming the 14th member and the first Pacific island nation to do so, as announced by the White House. This move strengthens the United States' efforts to counter the increasing influence of China in the Asia Pacific region. The announcement coincides with Chinese Foreign Minister Wang Yi's visit to Kiribati as part of his tour of Pacific island countries, where China and the US are competing for influence.

Thursday, 26 May, 2022

Ukraine has begun receiving Harpoon anti-ship missiles from Denmark and...

Ukraine has begun receiving Harpoon anti-ship missiles from Denmark and self-propelled howitzers from the United States, according to Ukrainian Defence Minister Oleksiy Reznikov. The arms shipments are aimed at enhancing the country's defense capabilities in the face of Russia's ongoing invasion. Minister Reznikov emphasized that the Harpoon missiles will be operated by trained Ukrainian teams, further strengthening the coastal defense of Ukraine.

Friday, 27 May, 2022

The Chairperson of the African Union, Macky Sall, urges for...

The Chairperson of the African Union, Macky Sall, urges for dialogue between the Democratic Republic of the Congo (DR Congo) and Rwanda as tensions escalate over the resurgence of M23 rebels. Rwanda refers to the situation as an "internal conflict" within DR Congo and demands the release of two alleged "kidnapped" Rwandan soldiers along the border. Sall emphasizes the need for peaceful negotiations to address the growing tensions between the two neighboring countries.

Saturday, 28 May, 2022

Blue Marine Foundation and OceanMind have published reports providing evidence...

Blue Marine Foundation and OceanMind have published reports providing evidence of unauthorized fishing by EU vessels in the waters of developing Indian Ocean coastal states. The reports highlight fishing activities by EU-owned purse seine vessels in Somalia and India without authorized access agreements. Additionally, the reports shed light on fishing in the Chagos Archipelago marine protected area and Mozambique's exclusive economic zone where no EU-flagged vessels could have been authorized. These findings coincide with the 26th Session of the Indian Ocean Tuna Commission, where discussions on conservation measures are taking place. The overfished Indian Ocean yellowfin tuna stock requires significant reductions in catches, but the EU is proposing no further reductions, contrary to scientific advice.

Sunday, 29 May, 2022