Lubricants
Nigeria’s inflation drops to 17.93 percent
The Consumer Price Index (CPI) which measures inflation dropped to 17.93 per cent (year-on-year) in May compared to 18.12 per cent in the preceding month, according to the National Bureau of Statistics (NBS). The 0.19 per cent decline in the headline index, makes it the second consecutive month that the rate had sustained its downward trajectory after 18 months of inflationary pressures on the economy. According to the CPI figures for May which was released by the statistical agency Tuesday, food inflation dropped to 22.28 per cent from 22.72 per cent in April. Price moderation was recorded in bread, cereals, milk, cheese, eggs, fish, soft drinks, coffee, tea and cocoa, fruits, meat, oils and fats and vegetables. On month-on-month basis, the food sub-index declined to 1.05 per cent in May ...
Sri Lanka launches probe after burning ship pollutes beaches
Sri Lanka launched a criminal probe on Sunday into a huge container ship fire that has swamped the island nation’s coast with plastic pollution causing probably one of its worst marine disasters in history. Tonnes of microplastic granules have inundated the South Asian country’s famed beaches in Negombo, a popular tourist destination, forcing a fishing ban and prompting fears of ecological damage. The Singapore-registered MV X-Press Pearl has been smoldering on the horizon for 11 days after a blaze broke out as it was heading to Colombo from the Indian state of Gujarat. The 25-member crew, who have already been evacuated from the ship, will be questioned on Monday after a complaint was lodged by Sri Lanka’s Marine Environment Protection Authority, police said. Last week, authorities said t...
