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Lebanon banking sector crumbles amid a deepening economic crisis
The recent Lebanese court order restricting lenders from moving money abroad is the fallout of deep rot long building in the banking sector. This comes on the back of the country’s mounting debt amidst the deteriorating economic condition –…
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Oil rises after 3 days of decline, but records the second consecutive weekly loss
Crude oil prices closed on Friday, rising for the first time in four sessions, but recorded losses for the second week in a row, after the United States and its allies announced a massive release of oil from emergency reserves.
New York -…
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CEOs of 14 UAE firms honored in Italy
The CEOs of 14 Emirati companies who presented initiatives supporting sustainability as an integral part of economic and social development were honored at a ceremony in Italy.
The event, organized by Credit Union Exports — a subsidiary…
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US cracks down on Russian airlines after flights violated export controls
The US Commerce Department issued enforcement actions against Aeroflot, Azur Air, and UTair on Thursday, saying the three Russian airlines violated American export controls issued in the wake of Russia’s invasion of Ukraine.
The decision…
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Bitcoin falls; sanctions on Russian darknet and crypto exchange
Bitcoin, the leading cryptocurrency internationally, traded lower on Wednesday, down by 3.11 percent to $45,311.
Ether, the second most traded cryptocurrency, was priced at $3,351, down 4.96 percent, according to data from Coindesk.…
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Crude rises, Russia’s output plummets, Exxon to invest $10bn in Guyana
Oil futures extended gains on Tuesday as the US and Europe planned new sanctions to punish Moscow over alleged war crimes by Russian troops in Ukraine, adding to concerns about supply disruptions, while Iran nuclear talks stalled.
Brent…
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Turkey’s inflation hits 20-year high; Spain’s jobs market improves
Turkey’s annual consumer inflation leapt to a 20-year high of 61.14 percent in March, data showed on Monday, fueled by rising energy and commodity prices as the fallout of the Russia-Ukraine conflict compounds the impact of the lira’s…
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Italy identifies food commodities whose prices have risen more than others
The prices of various types of food products in Italy increased by an average of 6.7% last March, in light of the rise in energy prices, as repercussions of the situation related to Ukraine.
This was reported by the Agricultural Producers…
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Twitter shares fly after a move from Mask
Twitter's share price increased by 26% in pre-market trading today, after an American report revealed that American businessman Elon Musk had acquired 9.2% of the social networking site's shares.
The stake is valued at $2.89 billion…
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The largest German bank warns of the dangers of abandoning Russian gas
The head of the German "Deutsche Bank", Christian Swing, said in a press conference today, that the German economy is at risk of recession in the event of a complete refusal to import oil and gas from Russia.
Swing pointed out that the…
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