Bangladesh buys more power from India, lifts fuel oil use as electricity demand rises
Bangladesh is boosting power imports from India and output from fuel oil-fired power plants in a scramble to meet rising electricity demand as it grap...
Britain's economy unexpectedly shrank for the second month in a row in May, raising pressure on the Labour government and boosting expectations for an interest rate cut in August.
The UK economy contracted by 0.1% in May following a 0.3% drop in April, according to the Office for National Statistics on 11 July.
The data surprised economists, who had forecast a slight recovery. While the services sector saw minimal growth, a fall in industrial production and construction led to an overall decline in GDP.
After a strong start to 2025, growth momentum has stalled. Analysts now suggest the April-to-June quarter may see little or no expansion.
The Bank of England, which had previously raised its annual growth forecast to 1%, may respond by cutting interest rates next month.
“The weak figures suggest an August rate cut looks increasingly inevitable,” said Suren Thiru of ICAEW, despite recent inflation concerns.
Prime Minister Keir Starmer’s Labour government is under mounting pressure to revive growth.
Finance Minister Rachel Reeves, already facing fiscal strain, may be forced to raise taxes again in the upcoming budget, though she had hoped to avoid this.
"While today's figures are disappointing, I am determined to kickstart economic growth," said Reeves on Friday.
Goods exports to the U.S., Britain’s largest trade partner, dropped sharply in April after surging earlier in the year due to fears over new tariffs. May’s export levels saw only a minor recovery, reverting to figures seen three years ago.
The Bank of England estimates that the UK economy grew by about 0.25% in Q2, but that hinges on stable data for June. If GDP shrinks by 0.4% or more, the quarter could end in contraction.
Despite recent setbacks, some economists see glimmers of hope. KPMG’s Yael Selfin noted that real wage growth and lower borrowing costs may help lift consumer spending later this year.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
Bangladesh is boosting power imports from India and output from fuel oil-fired power plants in a scramble to meet rising electricity demand as it grapples with constraints on gas supply and coal plant maintenance, industry officials and analysts say.
The United Nations Security Council will hold an emergency meeting at Poland's request to discuss this week's violation of Polish airspace, the Polish Foreign Ministry said on Thursday.
The Mexican Navy seized 1,600 kilograms of cocaine in a maritime operation off the coast of Guerrero, according to a press release from the Mexican government on Wednesday (September 10).
Poland has introduced restrictions to air traffic along its eastern borders with Belarus and Ukraine, the Armed Forces' Operational Command said on Thursday, amidst increased tensions a day after multiple drone incursions into the NATO member's airspace on Wednesday.
Police and federal agents mounted an intense manhunt on Thursday for the sniper believed to have fired the single gunshot that killed conservative activist Charlie Kirk as he was fielding questions about gun violence during a university appearance.
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