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May 24, 2022

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Sri Lanka increases fuel prices to address economic crisis

Reuters
COLOMBO, May 24 (Reuters) – Sri Lanka increased fuel prices on Tuesday, a long-flagged move to mend public finances and combat its debilitating economic crisis, but the hikes are bound to add to galloping inflation at least in the short term. Power and Energy Minister Kanchana Wijesekera said in a......

Lebanon recovery plan includes central bank debt write-off, haircuts to depositors

Reuters
Lebanese President Michel Aoun heads a final cabinet meeting before the government enters a caretaker status at the presidential palace in Baabda, Lebanon May 20, 2022. Dalati Nohra/Handout via REUTERS Register now for FREE unlimited access to Reuters.com Register May 20 (Reuters) – Lebanon’s government foresees cancelling “a large part”......

Russia makes early debt payment dash to dodge default

Reuters
The skyscrapers of the Moscow International Business Centre, also known as “Moskva-City”, are seen just after sunset in Moscow, Russia July 12, 2018. Picture taken July 12, 2018. REUTERS/Christian Hartmann Register now for FREE unlimited access to Reuters.com Register Moscow was due to pay $100 mln on two Eurobonds on......

Biden administration authorizes $100 million more in Ukraine military aid

Reuters
U.S. President Joe Biden looks on after delivering remarks in the Rose Garden of the White House in Washington, U.S., May 19, 2022. REUTERS/Evelyn Hockstein Register now for FREE unlimited access to Reuters.com Register WASHINGTON, May 19 (Reuters) – President Joe Biden’s administration authorized $100 million of additional military aid......

G7 agree on $18.4 bln to keep Ukraine running, ready with more

Reuters
G7 agree $18.4 bln financing for Ukraine KOENIGSWINTER, Germany, May 19 (Reuters) – The Group of Seven’s financial leaders agreed on Thursday on $18.4 billion to help Ukraine pay its bills in coming months and said they were ready to stand by Kyiv throughout its war with Russia and do......

Exclusive: China in talks with automakers on EV subsidy extension

Reuters
SHANGHAI, May 18 (Reuters) – China is in talks with automakers about extending costly subsidies for electric vehicles (EV) that were set to expire in 2022, aiming to keep a key market growing as the broader economy slows, three people familiar with the matter said. The move by policymakers comes......

Yellen calls on allies to step up funding for Ukraine

Reuters
BRUSSELS, May 17 (Reuters) – U.S. Treasury Secretary Janet Yellen called for U.S. allies to step up financial support for Ukraine on Tuesday, saying that funds announced so far would not be sufficient for the country’s short-term needs as it battles a Russian invasion. “Ukraine’s financing needs are significant,” Yellen......

Renault sells Russia’s Avtovaz stake, but leaves room for return

Reuters
Renault sells Avtovaz stake reportedly for one rouble Leaves door open for return with six-year buyback option Moscow plant to resurrect Soviet-era Moskvich brand May 16 (Reuters) – Renault (RENA.PA) is to sell its majority stake in carmaker Avtovaz (AVAZI_p.MM) to a Russian science institute reportedly for just one rouble......

U.S. Treasury’s Yellen presses Poland on global minimum tax

Reuters
Treasury Secretary Janet Yellen testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled “The Financial Stability Oversight Council Annual Report to Congress,” in Dirksen Senate Office Building in Washington, D.C.,U.S., May 10, 2022. Tom Williams/Pool via REUTERS Register now for FREE unlimited access to Reuters.com Register WARSAW,......

Taliban’s first annual Afghan budget foresees $501 million deficit

Reuters
Afghan Deputy Prime Minister Mawlavi Abdul Salam Hanafi speaks during a ceremony to raise the Taliban flag in Kabul, Afghanistan, March 31, 2022. REUTERS/Ali Khara/File Photo Register now for FREE unlimited access to Reuters.com Register KABUL, May 14 (Reuters) – Afghanistan faces a budget deficit of 44 billion Afghanis ($501......

Analysis: Traders ready for wilder swings as rate rises stoke volatility

Reuters
A specialist trader works on the floor of the New York Stock Exchange, August 21, 2015. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register LONDON/NEW YORK, May 13 (Reuters) – Traders in the world’s largest markets are having to navigate wild intra-day swings and shrinking deal sizes......

U.S. will share COVID-19 vaccine technology, Biden tells global summit

Reuters
WASHINGTON, May 12 (Reuters) – The United States will share technologies used to make COVID-19 vaccines through the World Health Organization and is working to expand rapid testing and antiviral treatments for hard-to-reach populations, President Joe Biden said on Thursday. Speaking at the second global COVID-19 summit, Biden called on......

Russian spy boss compares U.S. to German Nazi propaganda machine

Reuters
Sergei Naryshkin, head of Russia’s foreign intelligence agency, attends a military parade on Victory Day, which marks the 76th anniversary of the victory over Nazi Germany in World War Two, in Red Square in central Moscow, Russia May 9, 2021. REUTERS/Evgenia Novozhenina Register now for FREE unlimited access to Reuters.com......

Biden says Fed targeting inflation, China tariffs could fall

Reuters
WASHINGTON, May 10 (Reuters) – U.S. President Joe Biden, under pressure to tame high inflation, told Americans on Tuesday that he understands what they are grappling with and that he and the U.S. Federal Reserve are working to solve the top issue weighing on his administration. “They’re frustrated,” Biden said......

U.S. Congress plans nearly $40 bln more for Ukraine, COVID aid to wait

Reuters
WASHINGTON, May 9 (Reuters) – U.S. congressional Democrats agreed to rush $39.8 billion in additional aid for Ukraine, two sources familiar with the proposal said on Monday, easing fears a delayed vote could interrupt the flow of U.S. weapons to the Kyiv government. The House of Representatives could pass the......

Curfew imposed across Sri Lanka after clashes in commercial capital

Reuters
COLOMBO, May 9 (Reuters) – Supporters of Sri Lanka’s ruling party stormed a major protest site in the country’s commercial capital Colombo on Monday, attacking anti-government demonstrators and clashing with police who used tear gas and water cannon to drive them back. A curfew has been imposed across the island......

Algeria authorises purchase of 15 new aircraft for Air Algerie

Reuters
May 8 (Reuters) – The Algerian cabinet has authorised the national airline, Air Algerie, to purchase 15 new aircraft to open new routes to African and Asian destinations, Algerian State TV said on Sunday citing a cabinet statement. Register now for FREE unlimited access to Reuters.com Register Reporting by Moaz......

Egypt’s net foreign assets retreat further into the red in March

Reuters
CAIRO, May 8 (Reuters) – Egypt’s net foreign assets (NFAs) dropped by 169.7 billion Egyptian pounds ($9.17 billion) in March, the sharpest decline since the coronavirus crisis broke out in February 2020, central bank data showed on Sunday. NFAs fell to a negative 221.3 billion pounds at the end of......

Somalia seeks three-month extension of its IMF support programme

Reuters
NAIROBI, May 7 (Reuters) – Somalia’s government has asked the International Monetary Fund (IMF) to extend its financial support by three months to Aug. 17, the head of the IMF’s country mission told Reuters. The Washington-based fund warned in February that Somalia’s delayed legislative and presidential elections put the renewal......

Euro zone yields rise, tracking moves in U.S. Treasuries

Reuters
The euro sign is photographed in front of the former head quarter of the European Central Bank in Frankfurt, Germany, April 9, 2019. REUTERS/Kai Pfaffenbach Register now for FREE unlimited access to Reuters.com Register May 5 (Reuters) – Euro zone borrowing costs were up on Thursday as a jump in......

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