Tag: middle east conflict impact

Sri Lanka announces electricity tariff hike as Middle East conflict drives energy costs higher

Sri Lanka announces electricity tariff hike as Middle East conflict drives energy costs higher

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Sri Lanka is set to increase electricity tariffs by as much as 18 percent starting Monday, as the country struggles with rising energy production costs linked to the ongoing conflict in the Middle East. According to the Public Utilities Commission, the increase will mainly affect high-volume electricity users consuming more than 180 kilowatt hours per […]

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US Fed chief says energy shock manageable for now but warns inflation risks could grow

US Fed chief says energy shock manageable for now but warns inflation risks could grow

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The head of the US central bank, Jerome Powell, said the economic impact of the recent surge in energy prices appears manageable for now. However, he cautioned that the situation could become more serious if people and businesses begin to expect inflation to stay high for a longer period. Speaking during an event at Harvard […]

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