Egypt, Jordan, and Lebanon have suffered “severe” economic damage from Israel’s war with terrorist group Hamas, The New York Times reported.
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INDIA SURPASSES HONG KONG AS WORLD’S FOURTH LARGEST EQUITIES MARKET
With China’s economy on the ropes, investors have transferred their hopes to India.
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FED’S INSPECTOR GENERAL SAYS KAPLAN, ROSENGREN DID NOTHING ILLEGAL
The U.S. Federal Reserve’s inspector general (IG) has cleared two former Fed bank presidents of any illegal activities in questionable trades they made in 2020. However, the watchdog office scolded them for tarnishing public confidence in the central bank.
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AMERICANS USING CREDIT CARDS MORE, TAKING LONGER TO PAY THEM OFF
Consumers are using their credit cards more, both for basic and discretionary purchases, and taking longer to pay off their balances, The Wall Street Journal reported last week.
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WILL AMERICAN CONSUMERS KEEP DRIVING THE ECONOMY?
Last week’s report that U.S. consumers hiked their spending by 3.3 percent in 2023’s final quarter surprised many analysts, who had expected just a 2-percent bump.
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U.S. ECONOMY GREW MORE THAN FORECAST IN FOURTH QUARTER
U.S. GDP grew by 3.3 percent in last year’s final quarter, ending a year in which a widely expected recession failed to materialize.
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U.S. SCREW UP IN LATEST MIDDLE EAST ATTACK
The U.S. mistook a drone as one of its own in an alleged deadly attack by an Iranian-backed militia on an American base near the border between Jordan and Syria, resulting in the drone smashing into the outpost and killing three U.S. troops.
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FRENCH FARMER PROTESTS AGAINST OVERREGULATION, DIESEL PRICES
Farmers continue to protest in France against what they see as backbreaking regulations and livelihood-killing diesel fuel prices, raising fear in the country’s establishment that the anger could result in a strengthened populist movement.
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RUSSIA REJECTS U.K.’S WARNING TO CITIZENS TO PREPARE FOR LAND WAR
Russia’s top U.K. diplomat on Saturday rejected Britain’s army head’s warning to the public that it needs to be prepared for a land war and that steps should be taken to “place our societies on war footing” because of the growing risks.
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U.S. CARRIES OUT MORE AIRSTRIKES IN IRAQ AS RELATIONSHIP SOURS FURTHER
The U.S. military last week carried out airstrikes in Iraq that supposedly targeted facilities in the country that have been used by Iranian-supported militants to attack American forces in the region.