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Kyiv, Ukraine | AFP Kyiv expects the first grain deliveries under a UN-brokered deal to leave Ukrainian ports “this week”, Ukraine’s infrastructure minister said Monday, despite Russian strikes on Ukraine’s Black Sea port of Odessa. “We expect the agreement to start working in the coming days,” Oleksandr Kubrakov, who led Ukraine’s delegation at grain talks in Turkey, told a press conference. “We are preparing for everything to start this week,” he added. Kubrakov also highlighted […]
LONDON, United Kingdom (AFP) — British annual inflation surged to a fresh 40-year high in June on rising motor fuel and food prices, official data showed Wednesday, adding to a cost-of-living crisis. The Consumer Prices Index (CPI) jumped to 9.4 percent last month from 9.1 percent in May, the Office for National Statistics said in a statement. Analysts said the data put pressure on the Bank of England to raise interest rates by as […]
MUMBAI, India (AFP) — The Indian rupee fell to more than 80 per US dollar for the first time on record Tuesday, as the greenback extended its rally and foreign capital outflows intensified. The rupee hit 80.0600 against the greenback soon after trading started, compared with the previous close of 79.9775, Bloomberg data showed. High inflation and rising interest rates in the United States coupled with fears of an impending recession in the world’s biggest […]
WELLINGTON, New Zealand (AFP) — Inflation in New Zealand rose to a 32-year high of 7.3 percent on-year in the second quarter, according to official figures released Monday. The main drivers were rising fuel, food and housing costs, said Stats NZ, putting inflation at a level last seen in 1990. “Supply chain issues, labor costs, and higher demand have continued to push up the cost of building a new house,” said Jason Attewell of Stats […]
BEIJING, China (AFP) — Chinese regulators have promised to repay more victims of one of the country’s biggest-ever banking scandals, after hundreds of thousands of customers were left without access to funds, triggering rare mass protests. China’s rural banking sector has been hit hard by Beijing’s efforts to rein in a property bubble and spiralling debt, in a financial crackdown that rattled the world’s second-largest economy. Four banks in Henan province froze cash withdrawals in […]
by Sean GLEESON and Mahesh PERERA Agence France-Presse COLOMBO, Sri Lanka (AFP) — Out of gas and stuck in line for days, a group of motorists kick off their shoes and settle on a sidewalk in Sri Lanka’s capital for a round of cards. Emergency curfews, tear gas plumes and the sudden departure and resignation of the president have all failed to budge the long vehicle queues snaking out of Colombo’s empty petrol stations. Chronic […]
by Beiyi Seow Agence France-Presse BEIJING, China (AFP) — China logged its slowest economic growth since the initial Covid outbreak, official data showed Friday, expanding just 0.4 percent in the second quarter with lockdowns and property market weakness nudging a government target further out of reach. Beijing has dug its heels in on a zero-Covid policy of stamping out virus clusters as they emerge with snap lockdowns and long quarantines, but this has battered businesses […]
Colombo, Sri Lanka | AFP | Thursday 7/14/2022 by Amal JAYASINGHE Sri Lanka’s president submitted his resignation Thursday shortly after reaching Singapore, the parliamentary speaker’s office said, days after the head of state fled protests triggered by his country’s worst-ever economic crisis. Gotabaya Rajapaksa resigned by email, the speaker’s spokesman said hours after he landed in the city-state, after protesters overran his palace on the weekend. Rajapaksa fled to the Maldives on Wednesday, and left […]
by Heather SCOTT Agence France Presse US inflation surged to a fresh peak of 9.1 percent in June, further squeezing American families and heaping pressure on President Joe Biden, whose approval ratings have taken a battering from the relentless rise in prices. Government data released Wednesday showed a sharp, faster-than-expected increase in the consumer price index compared to May driven by significant increases in gasoline prices. The 9.1 percent CPI spike over the past […]
SEOUL, South Korea (AFP) — South Korea’s central bank on Wednesday delivered a historic half-point interest rate hike to tame fast-growing inflation, particularly soaring energy costs linked to the war in Ukraine. The Bank of Korea (BOK) raised its benchmark policy rate by 50 basis points to 2.25 percent, it said in a tweet, the largest increase since its current framework was implemented in 1999. The decision comes as Asia’s fourth-biggest economy recovers from […]
PORT-AU-PRINCE, Haiti (AFP) — A week of clashes between rival gangs in the Haitian capital Port-au-Prince has left at least 89 people dead and dozens injured, a human rights group said Wednesday. The fresh violence, coupled with soaring food prices and fuel shortages all add to a brutal downward spiral in the security situation in the city. The unrest erupted on July 7 between two rival factions in Cite Soleil, an impoverished and densely populated […]
by Amal JAYASINGHE Agence France-Presse COLOMBO, Sri Lanka (AFP) — Sri Lanka’s embattled president flew out of his country to the Maldives early Wednesday, in a likely prelude to his resignation after months of widespread protests against his island nation’s worst-ever economic crisis. Gotabaya Rajapaksa had promised at the weekend to resign on Wednesday and clear the way for a “peaceful transition of power” after fleeing his official residence in Colombo just before tens […]
