Latest Financial crisis News

Qatar donates $60 million to Lebanon's army during crisis

Jun. 30, 2022 11:46 AM EDT

BEIRUT (AP) — Qatar has donated $60 million to the Lebanese army, hard hit by the Mediterranean nation's unprecedented economic meltdown, Qatar News Agency reported Thursday. The announcement came shortly after Qatar's Foreign Minister Mohammad bin Abdulrahman Al Thani arrived in...

Sri Lanka crisis gives India chance to gain sway vs China

Jun. 30, 2022 01:13 AM EDT

NEW DELHI (AP) — Sri Lanka's strategic location has attracted outsized interest in the small island nation from regional giants China and India for more than a decade, with Beijing and its free-flowing loans and infrastructure investments widely seen as having gained the upper hand in the quest...

Gas lines and scuffles: Sri Lanka faces humanitarian crisis

Jun. 29, 2022 21:08 PM EDT

COLOMBO, Sri Lanka (AP) — Chamila Nilanthi is tired of all the waiting. The 47-year-old mother of two spent three days lining up to get kerosene in the Sri Lankan town of Gampaha, northeast of the capital Colombo. Two weeks earlier, she spent three days in a queue for cooking gas — but came...

Puerto Rico sets 7th electric rate increase in just a year

Jun. 29, 2022 19:35 PM EDT

SAN JUAN, Puerto Rico (AP) — Officials in Puerto Rico announced another electric rate increase Wednesday, the seventh in a year amid continuing power outages and the U.S. territory's economic crisis. For a client that consumes 800 kilowatt hours, the new rate will be 33 cents per...

Ducey OKs $18B budget upping school, infrastructure spending

Jun. 28, 2022 20:03 PM EDT

PHOENIX (AP) — Arizona Gov. Doug Ducey on Tuesday signed into law his eighth and final state budget, an $18 billion spending plan that uses a record surplus to invest in education and infrastructure while lowering state debt and preparing for an economic downturn. The massive...

Report: Lack of water access costs U.S. $8.6B each year

Jun. 28, 2022 17:31 PM EDT

CHARLESTON, W.Va. (AP) — At least 2 million Americans don’t have running water or a working toilet at home, a crisis that costs the U.S. economy $8.58 billion each year, according to a report released Tuesday by nonprofit DigDeep. These water access issues disproportionately...

Sri Lanka sends 2 ministers to Russia for oil amid crisis

Jun. 27, 2022 11:48 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka is sending two government ministers to Russia to negotiate for fuel — one of the necessities nearly exhausted as a result of the Indian Ocean nation's economic collapse. The plan comes as Washington and its allies aim to cut off energy imports...

Death toll of children in Afghanistan quake rises to 155

Jun. 27, 2022 07:44 AM EDT

GAYAN, Afghanistan (AP) — The death toll of children in last week's devastating earthquake in southeastern Afghanistan has risen to at least 155, the United Nations said as the scope of the deadliest quake to hit the impoverished country in two decades comes into focus. The U.N.'s...

Senior US officials visit Sri Lanka to help resolve crisis

Jun. 26, 2022 23:54 PM EDT

COLOMBO, Sri Lanka (AP) — Senior U.S. officials were in Sri Lanka seeking ways to help the island nation cope with an unprecedented economic crisis and severe shortages of essential supplies, as the energy minister warned that new fuel shipments would be delayed. The U.S. over the...

Live updates | G-7 nations seek to counter Chinese influence

Jun. 26, 2022 15:28 PM EDT

ELMAU, Germany (AP) — The Latest on the G-7 summit, the annual meeting of the leading democratic economies, which this year is being held in Germany's Bavarian Alps: One Group of Seven family photo didn’t seem to be enough. After posing for a group shot earlier...