Xiaomi

Photo: Business Standard

Xiaomi Reportedly Fires Over 900 Employees Amid Economical Crisis

Amid the economical crisis due to the Covid-19 pandemic, Xiaomi reportedly fired more than 900 employees. On August 21, local media reported that the Chinese smartphone manufacturer Xiaomi fired close to 3% of its workforce. The company reported a sharp decline in the second quarter revenue and to control the expenses and crisis, let go of the employees. However, Xiaomi has not yet made this confirmation.

 

Sun, 21 Aug 2022 - 08:45 PM / by Varsha Joshi

Tags: Xiaomi, Chinese Mobile, Work Force, Covid-19 Pandemic, Economic crisis

Courtesy: Zee News India

Prostitution

Photo: Business Standard

Women Entering Prostitute Business To Survive Amid Sri Lanka Economic Crisis

Amid  the worst economic crisis, many women are entering the prostitute business, makeshift to brothels in Sri Lanka.  Sex Workers' right organisation Stand-up Movement Lanka (SUML) said, in the past few months there has been an increase of 30% in brothel business. SMUL CEO said, "Women working in the textile industry are resorting to 'sex work' after being fired due to the economic crisis" with the only way to survive.

Sun, 31 Jul 2022 - 07:25 PM / by Varsha Joshi

Tags: Sri Lanka, Prostitute Business, Economic crisis, SMUL, Organisation

Ranil Wickremesinghe

Photo: The Economic Times

Sri Lanka Acting President Ranil Wickremesinghe Declares Emergency

Sri Lanka acting President Ranil Wickremesinghe declared an emergency in the country, amid the ongoing protests against the worst economic crisis. On July 18, the acting President and PM of Sri Lanka said, the emergency has been in effect in the interest of public security. The developments came after Gotabaya Rajapaksa submitted his resignation and flew to Singapore. Furthermore, the elections for new Sri Lanka President is on July 20.

Mon, 18 Jul 2022 - 10:55 AM / by Varsha Joshi

Tags: Sri Lanka, President Ranil Wickremesinghe, Emergency Declared, Economic crisis, Gotabaya Rajapaksa

Kanchana

Photo: OrissaPOST

Sri Lanka Willing To Purchase Fuel From Russia Amid Energy Crisis

Amid the ongoing energy crisis in Sri Lanka, the island nation's Power and Energy minister Kanchana Wijesekara said that Lanka is in talks with Russia for the purchase of fuel. "We have made requests to many countries," he said. He also said that India is the only country that is currently providing a credit line to Sri Lanka. Meanwhile, Russia is selling fuel at discounted costs due to western sanctions.

Sat, 16 Jul 2022 - 05:47 PM / by Shibu Immanuel S

Tags: Sri Lanka, Energy Crisis, Economic crisis, Russia, Crude Oil

Courtesy: ANI

Gotabaya Rajapaksa

Photo: First Post

Gotabaya Rajapaksa Resignation Accepted, New Sri Lankan President Appointment Soon

Gotabaya Rajapaksa resigned as the President of Sri Lanka and is currently in Singapore. On July 15, the resignation of Rajapaksa was accepted, confirmed by Sri Lankan Speaker Mahinda Yapa Abeywardena. " The legal process will follow ..members will be invited tomorrow", said Abeywardena. Furthermore, the resignation came after the citizens of Sri Lanka came on the roads, demanding his resignation, after the worst economic situation in Sri… read-more

Fri, 15 Jul 2022 - 12:20 PM / by Varsha Joshi

Tags: Gotabaya Rajapaksa, Sri Lankan President, Resignation, Speaker Mahinda, Economic crisis

Courtesy: ANI

Sri Lankan Army Tank

Photo: The Print

Army Tanks Deployed Near Sri Lankan Parliament; Three-Layer Protection Given

Amid the ongoing Sri Lankan crisis, to prevent the protestors from entering into the parliament, army tanks have been deployed in the area. The parliament has been given three layers of protection- police, army and special forces. This has come after protestors stormed the PM's office on July 14. Meanwhile, president Gotabaya Rajapaksa who fled the country, took a Saudi Arabian flight from Maldives to Singapore.

Thu, 14 Jul 2022 - 04:43 PM / by Shibu Immanuel S

Tags: Sri Lanka, Colombo, Economic crisis, Political crisis, Rajapaksa

Courtesy: ANI

Gotabaya Rajapaksa

Photo: Scroll

Sri Lankan President Gotabaya Rajapaksa Flees To Maldives In Military Jet

Amid widespread protests against the Rajapaksa family, Sri Lankan president Gotabaya Rajapaksa fled to Maldives, on July 13. The move comes after thousands of citizens overran his residence in the capital city of Colombo. Gotabaya Rajapaksa, being the president has immunity from being arrested. Hence, he fled using a military jet, before stepping down from the post, to avoid the chance of getting detained.

Wed, 13 Jul 2022 - 10:07 AM / by Shibu Immanuel S

Tags: Sri Lanka, Colombo, Gotabaya Rajapaksa, Mahinda Rajapaksa, Economic crisis

Courtesy: Hindustan Times

Gotabaya Rajapaksa

Photo: The Telegraph

President Gotabaya Rajapaksa Will Resign On July 13 Amid Worst Economic Crisis

Sri Lanka Speaker Mahinda Yapa Abeywardena confirmed the whereabouts of President Gotabaya Rajapaksa and said, he has left the island and is in a nearby country. On July 11, he added that the President will be back by July 13. Meanwhile, Rajapaksa has officially conveyed to PM Ranil Wickremesinghe that he will resign on July 13 as previously announced. Notably, the resignation of Rajapaksa came amid worst economic-crisis in Sri-Lanka.

Mon, 11 Jul 2022 - 08:10 PM / by Varsha Joshi

Tags: Economic crisis, Sri Lanka, President Gotabaya Rajapaksa, Resignation, speaker

Sri Lankan Refugees at Dhanushkodi

Photo: Dailythanthi

Tamil Nadu's Dhanushkodi Receives 7 More Refugees From Sri Lanka Due To Economic Crisis

Seven more refugees from Sri Lanka reached Tamil Nadu's Dhanushkodi, on June 17. With this, Rameshwaram has received at least over 90 refugees in total, fleeing from the ongoing Sri Lankan economic crisis. The seven refugees arrived include two families- Dossnavis (40), wife Rajini (39) and their three children, and Mathiya (40) and her seven-year-old son. Upon their arrival, police conducted inquiry, and sent them to refugee camp in Mandapam… read-more

Fri, 17 Jun 2022 - 06:39 PM / by Shibu Immanuel S

Tags: Sri Lanka, Tamil Nadu, Economic crisis, Rameswaram, Dhanushkodi

Courtesy: The Times Of India

Coinbase

Photo: Website

Crypto Exchange Company Coinbase Fires 18% Work Force Amid Recession

In the view of recession, the leading crypto exchange Coinbase announced to lay off 18% of its workforce, Due to the economic crisis, Coinbase's CEO Brian Armstrong, said the company over-hired and considering the financial situation had to lay off over 1,000 employees. "We always plan for the worst so we can operate the business through any environment," said Armstrong.  Notablym, in 2021, the company had 1,250 employees.

Wed, 15 Jun 2022 - 03:45 PM / by Varsha Joshi

Tags: business, Economic crisis, Market Recession, Coinbase, Work Force