Latest Financial crisis News

Lebanese minister resigns in bid to ease crisis with Saudis

Dec. 03, 2021 14:58 PM EST

BEIRUT (AP) — Lebanon’s information minister resigned Friday, a move many hope could open the way for easing an unprecedented diplomatic row with Saudi Arabia and other Gulf Arab nations that has compounded the small country’s multiple crises. George Kordahi, the...

Struggling Chinese developer warns it could run out of money

Dec. 03, 2021 14:40 PM EST

BEIJING (AP) — A Chinese developer that is struggling under $310 billion in debt warned Friday it may run out of money to “perform its financial obligations” — sending regulators scrambling to reassure investors that China’s financial markets can be protected from a potential...

Chinese developer warns it might not pay $400 million bond

Dec. 03, 2021 03:04 AM EST

BEIJING (AP) — A Chinese real estate developer warned Friday it might fail to pay off a $400 million bond due next week, adding to financial strains in an industry that is struggling to avoid defaults on billions of dollars of debt. Kaisa Group Holdings Ltd.,...

Aid official: Afghanistan's crises get 'progressively worse'

Dec. 02, 2021 12:10 PM EST

KABUL, Afghanistan (AP) — Afghanistan is being hit by multiple crises that are “progressively getting worse,” with drought, economic collapse and displacement all pushing the population into catastrophic hunger, a senior international aid official said Thursday. The...

Lebanese businesses pay steep price for standoff with Saudis

Dec. 02, 2021 01:11 AM EST

BEIRUT (AP) — A Lebanese DJ was days away from moving to Riyadh to play for a month in one of the newest entertainment centers in Saudi Arabia's capital when a brief, polite Whatsapp message informed her that the contract won’t go through. The head of a Beirut-based...

Report: Maine's working waterfront is in economic danger

Dec. 01, 2021 18:20 PM EST

ROCKLAND, Maine (AP) — A report from a nonprofit organization that works to sustain Maine's coastal cities raised concerns that weak infrastructure and climate change are threatening Maine's waterfront economic development. The report from the Island Institute said...

UN envoy warns of risk of new Israel-Palestinian violence

Nov. 30, 2021 20:02 PM EST

UNITED NATIONS (AP) — The U.N. Mideast envoy warned Tuesday that without quick and decisive action to address the key drivers of the Israeli-Palestinian conflict the region risks plunging into “another deadly escalation of violence.” Tor Wennesland told the U.N....

Kuwait's exiled opposition returns home after royal pardon

Nov. 30, 2021 04:38 AM EST

KUWAIT CITY (AP) — Several prominent Kuwaiti opposition figures have returned home from a decade of self-exile after getting amnesty from the ruling emir, a long-awaited move celebrated Tuesday that's aimed at ending the political paralysis that has burned a hole in public finances. ...

Asia shares mixed as investors weigh omicron economic risks

Nov. 29, 2021 21:54 PM EST

TOKYO (AP) — Asian shares were mixed Tuesday as investors continued to cautiously weigh how much damage the new omicron coronavirus variant may unleash on the global economy. Japan's benchmark Nikkei 225 rose 1.0% to 28,577.34 in morning trading. Australia's...

Lebanon's president discusses Gulf crisis with Qatar's emir

Nov. 29, 2021 08:29 AM EST

BEIRUT (AP) — Lebanon's president Monday discussed his country's economic meltdown and an unprecedented diplomatic crisis between Beirut and Persian Gulf nations with the Emir of Qatar. The emir promised to help the small country ease its problems. The meeting between...