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Powell says inflation risks rising, but Fed can be 'patient'

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Friday that the tangled supply chains and shortages that have bedeviled the U.S. economy since this summer have gotten worse and will likely ...

Report: Foreign aid lost in Syria exchange rate distortions

BEIRUT (AP) — Syrian President Bashar Assad’s government benefited from variations in foreign currency exchange rates, boosting state coffers with at least $100 million in international aid money over...

Turkish lira continues to slide after interest rate cut

ANKARA, Turkey (AP) — The Turkish lira continued to slide and reached a record low against the U.S. dollar Friday, a day after the Central Bank sharply cut interest rates. It was another hit after a g...

China Evergrande's snowballing debt crisis

HONG KONG, Oct 22 (Reuters) - China Evergrande Group (3333.HK) has supplied funds to pay interest on a dollar bond, a person with direct knowledge of the matter said on Friday, days before a deadline ...

No 'Squid Game': South Korea's real-life debt trap

Many small business owners in South Korea recognise themselves in the cash-strapped characters of the wildly popular Netflix drama ‘Squid Game’, who vie desperately for a chance to win $38...

Fed imposes sweeping new limits on policymakers' investments

WASHINGTON (AP) — The Federal Reserve is imposing a broad new set of restrictions on the investments its officials can own, a response to questionable recent trades that forced two top Fed officials t...

Existing home sales surge as interest rates point higher

Sales of previously occupied U.S. homes bounced back in September to their strongest pace since January as mortgage rates tick higher, motivating buyers to get off the sidelines. Th...

Inflation, Fed action set stage for higher mortgage rates

LOS ANGELES (AP) — Mortgage rates have hovered near all-time lows for much of this year, even as inflation has increased sharply across much of the economy. That could begin to chang...

Turkish lira drops to new low after harsh interest rate cut

ISTANBUL (AP) — The Turkish lira plunged to a record low against the U.S. dollar Thursday after a harsher-than-expected cut in interest rates. The decision by the Central Bank’s mone...

Struggling Chinese developer calls off $2.6B asset sale

BEIJING (AP) — A major Chinese real estate developer whose struggle to avoid defaulting on billions of dollars of debt rattled financial markets says it has called off the sale of a $2.6 billion stake...

Fed survey finds economy facing supply chain, other drags

WASHINGTON (AP) — The Federal Reserve reports that the economy faced a number of headwinds at the start of this month, ranging from supply-chain disruptions and labor shortages to uncertainty about th...

Fuel price hike worsens Lebanon's tough living conditions

BEIRUT (AP) — Lebanon’s government raised the price of fuel Wednesday by about 25%, the National News Agency reported, effectively removing all subsidies on fuel products and pricing them at market ra...

German central bank chief to step down after 10 years

BERLIN (AP) — The head of Germany's central bank announced Wednesday that he will step down after a decade at the helm, removing a key hawkish voice from the European Central Bank’s governing council....

Fed to wait until 2023 to raise rates, but there is risk of earlier hike

BENGALURU, Oct 20 (Reuters) - The Federal Reserve will wait until 2023 before raising interest rates, according to a majority of economists in a Reuters poll who nonetheless said the greater risk for ...

The economy on the brink, Taliban rely on former technocrats

KABUL, Afghanistan (AP) — When the Taliban swept into power, they found Afghanistan's economy fast approaching the brink and were faced with harrowing predictions of growing poverty and hunger. So the...