Latest Financial crisis News
China confirms offer to Sri Lanka of debt moratorium
BEIJING (AP) — China’s government on Friday confirmed it is offering Sri Lanka a two-year moratorium on loan repayments as the Indian Ocean island nation struggles to restructure $51 billion in foreign debt that pushed it into a financial crisis. China lent to Sri Lanka as part...
Eyeing power, UK Labour Party vows to abolish House of Lords
LONDON (AP) — Britain’s opposition Labour Party on Monday pledged to scrap Parliament’s unelected upper house if it wins government as part of a raft if policies intended to stake out Labour's ground for the next election. The left-of-center party has been out of power since...
Business, labor groups agree on $1.8B unemployment debt plan
SPRINGFIELD, Ill. (AP) — Illinois business and labor groups have agreed on a plan to erase a $1.8 billion debt, generated by the wrenching COVID-19 pandemic, in the account that covers unemployment benefits, state officials said Tuesday. The deal leans on surplus funds in the...
Cuba's informal market finds new space on growing internet
HAVANA (AP) — In the Telegram group chat, the messages roll in like waves. “I need liquid ibuprofen and acetaminophen, please,” wrote one user. “It’s urgent, it’s for my 10-month-old baby.” Others offer medicine brought from outside of Cuba, adding,...
Election battle won, real test begins for new Malaysian PM
KUALA LUMPUR, Malaysia (AP) — Reformist leader Anwar Ibrahim has won a hard-fought battle to become Malaysia’s new prime minister. But working with former foes to form a unity government as a polarized nation watches will immediately test his political mettle. There is no...
Italian premier presents economic measures on energy, family
ROME (AP) — Italian Premier Giorgia Meloni presented the government’s first economic policy initiatives Tuesday, announcing 21 billion euros in budget tweaks that would be used to help industry and families cope with soaring energy prices, as well as measures to incentivize couples to have more...
Asian stocks mixed after Wall St slide, China virus fears
BEIJING (AP) — Asian stock markets were mixed Tuesday after Wall Street sank and Chinese anti-virus controls fueled concern about an economic slowdown. Shanghai and Hong Kong declined while Tokyo advanced. Oil prices gained. Wall Street's benchmark S&P 500 index...
Greek economic growth seen lower in 2023 amid energy woes
ATHENS, Greece (AP) — Greece’s economy is projected to grow by 1.8% next year, according to the country’s 2023 budget, slightly lower than the figures predicted last month as higher energy costs and inflation take a toll. The final 2023 budget submitted to parliament on Monday...
UN boosts food aid budget to feed a third of Lebanon
BEIRUT (AP) — Lebanon's caretaker prime minister and the United Nations World Food Program said Tuesday that it has boosted its food assistance to the struggling nation, effectively feeding one-third of the crisis-hit population. The tiny Mediterranean nation is in the grip of the...
Red Cross: Afghans will struggle for their lives this winter
KABUL, Afghanistan (AP) — More Afghans will be struggling for survival as living conditions deteriorate in the year ahead, a top official of the International Committee of the Red Cross said in an interview, as the country braces for its second winter under Taliban rule. The...
