World Bank projects Lebanon economy to contract by 6.4% due to war
The World Bank has projected that Lebanon's economy would contract by 6.4 percent this year, as the latest Israel-Hezbollah war derailed the country's efforts at recovery.
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Cuba says US sanctions blocking efforts to open economy to private investment
The United States has demanded that Cuba open up to private investment, and Cuba has passed sweeping reforms to encourage just that. So Cuba's U.N. ambassador says he wants to know why Washington keeps piling on sanctions that stymie the very economic opening it has sought for decades. Ambassador Ernesto Soberón Guzmán, in an interview this week with The Associated Press, directed his question to…
Iranian families struggle to afford the basics as US ratchets up economic warfare
Tehran's grocery stores are well-stocked, but many families can barely afford the basics. Unemployment is soaring and those with jobs are working more hours for money worth half as much as a year ago, putting food, medicine and everything else — except for heavily subsidized gasoline — further out of reach. "We have virtually given up on many things," said Ahmad Karimi, 52, a taxi driver and…
New opposition group protests in Tunisia after extreme heat-driven power and water cuts
A summer of extreme heat has left many Tunisians short of water and electricity — and full of anger at the country's leadership. Protesters rallied in the capital Tunis on Thursday, many calling on President Kais Saied to leave power. Mobilized by a new opposition collective, the demonstrators pleaded for improvements to basic utility services and an end to medicine shortages, rising living costs…
US, Australia and others turning to Brazil for rare earth minerals
The world is increasingly turning to Brazil to explore for rare earth minerals that are crucial for technology and renewable energy. The country's large reserves are second only to China and have attracted investors, many of them with foreign support. An analysis by The Associated Press and Reporter Brasil of all National Mining Agency records through June shows that rare earth exploration…
Trump warns of 'economic D-Day' against Iran, a country well acquainted with sanctions
Nearing the six-month mark of the Iran war and facing diminishing stockpiles of key weapons, the Trump administration is touting a crushing financial campaign against Tehran, promising an "economic D-Day" against a country that has so far withstood nearly five decades of punishing American sanctions. With sparse details, President Donald Trump announced this week that the U.S. would be imposing an…
US hits Hezbollah with more sanctions, says Iran controls it
The United States announced new sanctions Thursday against an alleged Hezbollah financing network, while highlighting the Lebanese armed group's close ties to Iran's Revolutionary Guards. Hezbollah's legal designation as a terrorist organization has been amended to note that it operates in "service to the Iranian regime under the command of Iran's Islamic Revolutionary Guard Corps," particularly…
70 Emirati businessmen to visit Lebanon this month
An Emirati delegation comprising approximately 70 businessmen will visit Lebanon on August 26 and 27 to sign agreements with the private sector in Lebanon, LBCI television has reported. The delegation will also propose providing and developing services at the airport, ports, and border crossings.
Amazon set to expand drone delivery of lightweight packages to 500 US cities
Millions more people may be able to get smaller, lightweight Amazon packages delivered by drones by the end of the year under a plan the company announced Wednesday to expand the airborne shipping to suburban areas in nearly 500 U.S. cities. Customers could receive the drone deliveries in as fast as 30 minutes, Amazon said in a news release. The drones can carry packages up to 5 pounds.
Amazon set to expand drone delivery of lightweight packages to 500 US cities
Millions more people may be able to get smaller, lightweight Amazon packages delivered by drones by the end of the year under a plan the company announced Wednesday to expand the airborne shipping to suburban areas in nearly 500 U.S. cities. Customers could receive the drone deliveries in as fast as 30 minutes, Amazon said in a news release. The drones can carry packages up to 5 pounds.
Colombian president asks Trump to suspend tariffs to help earthquake recovery
Colombia's President Abelardo de la Espriella has asked his ally U.S. President Donald Trump to suspend tariffs to help the South American nation recover from a powerful earthquake that killed at least 289 people. De la Espriella took office earlier this month just days before the 7.4 magnitude quake struck. He was backed by Trump in Colombia's closely contested presidential election, which was…
Colombian president asks Trump to suspend tariffs to help earthquake recovery
Colombia's President Abelardo de la Espriella has asked his ally U.S. President Donald Trump to suspend tariffs to help the South American nation recover from a powerful earthquake that killed at least 289 people. De la Espriella took office earlier this month just days before the 7.4 magnitude quake struck. He was backed by Trump in Colombia's closely contested presidential election, which was…
US national debt now stands at $40 trillion
The national debt surpassed a record $40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and interest on the burgeoning deficit make up an enormous share of federal spending. The milestone figure was recorded just five months after the U.S. hit a record $39 trillion debt in March. It reached $38 trillion five months before that, in…
US national debt now stands at $40 trillion
The national debt surpassed a record $40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and interest on the burgeoning deficit make up an enormous share of federal spending. The milestone figure was recorded just five months after the U.S. hit a record $39 trillion debt in March. It reached $38 trillion five months before that, in…
Trump says US and Canada have a trade deal, but key terms remain unclear
Canada and the United States moved closer Wednesday to finalizing a trade agreement that would avert threatened 50% U.S. tariffs, with a senior Canadian official calling the emerging terms "a very good deal for Canada" while cautioning that negotiations were not complete. President Donald Trump said the agreement was "very fair" to both sides and predicted U.S. farmers and manufacturers would…
Europe can't afford to miss AI revolution, says ECB chief
European Central Bank chief Christine Lagarde said Wednesday that the continent could not afford to miss out on the artificial intelligence revolution as the continent's growth model comes under increasing pressure.
United Arab Emirates suspends trade with Iran after coming under renewed missile fire
The United Arab Emirates suspended all trade with Iran on Wednesday after it said it had come under renewed fire from the country — a move that will further isolate the Islamic Republic, which is suffering under U.S. sanctions and a blockade. Incoming ballistic missile fire triggered nationwide warnings Tuesday night for UAE residents to seek shelter, the first time in weeks such an alarm had…
US and Canada hold last-minute talks to stop Trump's 50% tariffs
The United States and Canada have wrangled for decades over trade, poking each other interminably over sore spots like Canadian softwood lumber imports and U.S. access to Canada's protected dairy market. Somehow the two neighbors still managed to remain friends, allies — and trading partners. Canadian soldiers fought alongside Americans in Afghanistan after 9/11. The 5,525-mile U.S.-Canada border…
World shares mixed, Brent crude higher after stagflation worries
Shares were mixed in Europe and Asia on Monday after U.S. stocks edged back from their all-time high following a weaker than expected report on the U.S. economy. Oil prices also were mixed.
Japan's economy manages 1.1% growth rate despite headwinds
Japan's economy grew an annual rate of 1.1% in the April-June quarter even as private consumption stayed flat and the growth of exports declined, according to government data released Monday. Japan 's real GDP, or gross domestic product, the sum value of nation's goods and services, grew at a seasonally adjusted rate of 0.3% from the first quarter to second quarter of this 2026, according to…
Iraqi daily oil exports in August highest since start of war
Iraq's average daily oil exports since the beginning of August are the highest since the outbreak of the Middle East war between Iran and the United States, which has choked off the Strait of Hormuz, the oil ministry said Friday. Iraqi Oil Minister Bassem Mohammed Khudair told a press conference that "exports since the beginning of the month have reached a rate of two million barrels" per day, for…