ZELENSKY VISITS US IN FIRST TRIP ABROAD AFTER RUSSIAN INVASION

ZELENSKY VISITS US IN FIRST TRIP ABROAD AFTER RUSSIAN INVASION

After landing in the United States on Wednesday, Ukrainian President Volodymyr Zelensky met US President Joe Biden at the White House. Zelensky, wearing green colored cargo pants and sweatshirt rather than a suit, was driven to the White House where Biden, joined by his wife Jill, met him. Biden then escorted him past doors where guards held the US and Ukrainian flags. This is Zelensky’s first trip outside his homeland since it was invaded 300 days ago by Russia. Zelensky’s meeting with Biden at the White House comes ahead of…

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USA RELEASES G20 BALI LEADERS’ DECLARATION

USA RELEASES G20 BALI LEADERS’ DECLARATION

Bali, Indonesia, 15-16 November 2022 1. Fourteen years ago, the Leaders of the G20 met for the first time, facing the most severe financial crisis in our generation. We recognized, as large global economies, that collectively we carry responsibilities and that our cooperation was necessary to global economic recovery, to tackle global challenges, and lay a foundation for strong, sustainable, balanced, and inclusive growth. We designated the G20 the premier forum for global economic cooperation, and today we reaffirm our commitment to cooperate as we, once again, address serious global…

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QUEEN ELIZABETH II, BRITAIN’S LONGEST-REIGNING MONARCH, DIES AT 96

QUEEN ELIZABETH II, BRITAIN’S LONGEST-REIGNING MONARCH, DIES AT 96

London — Queen Elizabeth II, Britain’s longest-reigning monarch and one of the most enduring royal personalities the world has known, has died at the age of 96. Buckingham Palace confirmed that the queen died Thursday at Balmoral Castle, her official residence in Scotland. “The Queen died peacefully at Balmoral this afternoon. The King and The Queen Consort will remain at Balmoral this evening and will return to London tomorrow,” the palace said in a statement, referring to the new monarch, Elizabeth’s eldest son, now known as King Charles III, and…

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NANCY PELOSI LANDS IN TAIWAN, DEFIES CHINA

NANCY PELOSI LANDS IN TAIWAN, DEFIES CHINA

Taipei, August 2 US House of Representatives Speaker Nancy Pelosi arrived in Taiwan on Tuesday night despite threats from Beijing of serious consequences, becoming the highest-ranking American official to visit the self-ruled island claimed by China in 25 years. Voices support The visit honours America’s commitment to supporting Taiwan’s vibrant democracy. Nancy Pelosi, US House Speaker Pelosi’s visit has triggered increased tension between China and the US. China claims Taiwan as part of its territory, to be annexed by force, if necessary, and views visits by foreign government officials as…

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EU cuts euro zone growth forecasts, revises up inflation outlook

EU cuts euro zone growth forecasts, revises up inflation outlook

The European Commission cut its forecasts for economic growth in the euro zone for this year and next and revised up its estimates for inflation on Thursday largely due to the impact of the war in Ukraine. In its quarterly forecasts, Brussels confirmed its more downbeat outlook, which it had already discussed with euro zone finance ministers on Monday The EU executive now predicts growth of 2.6% this year for the 19-country currency bloc, slightly less than the 2.7% it had forecast in May. But next year, when the impact…

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The hike is (almost) here! Now for what comes next: Five questions for the European Central Bank

The hike is (almost) here! Now for what comes next: Five questions for the European Central Bank

The European Central Bank is set to deliver its first interest-rate hike since 2011 this week, yet markets are already fast-forwarding to focus on the path for higher rates beyond Thursday as economic prospects darken. That outlook is getting murkier by the day because inflation is still accelerating and growth slowing sharply. “The trade off the ECB is facing is more severe than any of the other major central banks,” said Silvia Ardagna, head of European economics research at Barclays. Here are five key questions for markets. 1. So, we’ll…

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US dollar nudges down from multi-year highs as euro gasps for gas

US dollar nudges down from multi-year highs as euro gasps for gas

The dollar began the week nudging down from multi-year highs, with a hotter-than-forecast inflation reading in New Zealand lending modest support to the kiwi, though fears about Europe’s gas supply put a cap on dollar selling. The greenback has soared this year thanks to a combination of rising U.S. interest rates and wobbling economies in Europe and China. It pushed above parity on the euro for the first time in almost 20 years last week, before easing back. The euro last bought $1.0094 and the yen, which has tumbled about…

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Swiss central bank plans at least 50 bps rate hike in September, newspaper reports

Swiss central bank plans at least 50 bps rate hike in September, newspaper reports

The Swiss National Bank is currently planning to raise interest rates by 50 or 75 basis points in its next scheduled monetary policy announcement in September, a Swiss newspaper reported on Saturday, citing one or more people involved in the matter. The central bank last month raised its policy rate for the first time in 15 years and Chairman Thomas Jordan said soon afterwards that ongoing inflationary pressure meant further tightening would likely be needed. Data published last week showed Swiss inflation hit a 29-year high of 3.4% in June,…

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European parliament backs ‘historic’ reboot to EU’s digital rulebook

European parliament backs ‘historic’ reboot to EU’s digital rulebook

The European Parliament has given a final stamp of approval to two major pieces of regulation which will update the EU’s rules for digital businesses. The Digital Markets Act (DMA) will introduce new ‘ex ante’ competition rules for gatekeeping tech giants to ensure markets are fair and open; while the Digital Services Act (DSA), which applies more broadly — to services and platforms both large and small — will set governance rules around the handling of illegal content and products, as well as dialling up broader accountability on larger platforms…

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Traveling in Europe during the summer? Consider this

Traveling in Europe during the summer? Consider this

As travelers set off on vacations to avenge being grounded for so long due to the pandemic, they are getting a reality check. Logjams at airports are ensuring a rather rocky start to their long-awaited trips European airports are once again inundated with travelers. This is even before summer holidays have begun in many countries.With most of the pandemic-related restrictions lifted, people are setting off for their dream destinations, eager to make up for lost travel opportunities over the past two years — a phenomenon that is being described as…

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