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Floods to drag up to 9 million Pakistanis into poverty: World Bank
Between six and nine million Pakistanis are set to be dragged into poverty as a result of cataclysmic monsoon flooding linked to climate change, the World Bank said on Thursday. A World Bank report said Pakistan's poverty rate is expected to rise between 2.5 and 4 percentage points as a direct consequence of the floods.
Spain smashes giant counterfeit money ring
Spanish police said Thursday they had smashed one of Europe's largest counterfeit money rings that had made over eight million euros of fake cash.
Revamp of World Bank and lenders needed to tackle global problems: Yellen
The World Bank and development lenders need to evolve to tackle the complex challenges that the world is facing, such as by going beyond country-based lending, US Treasury Secretary Janet Yellen said Thursday. Apart from the traditional country-based lending model, Yellen called for considering expanded options, such as for development banks to support both global and regional entities.
Apple wins 728-mn-euro cut to France antitrust fine
A French court on Thursday slashed more than 700 million euros from a record 1.1-billion-euro fine imposed on US tech giant Apple in 2020, sources close to the case told AFP. France's competition authority levied the fine -- its biggest ever -- after concluding that the firm squeezed independent sellers of Apple products as it tried to push buyers towards its own stores and preferred retailers.
Diamond millionaire hopes to rock Lesotho vote
Sitting at the desk of a grand office in Lesotho's capital of Maseru, Sam Matekane doesn't attempt to hide his ambition. He does not want to state his worth, but his affluence is on display at his office on the 6th floor of a building in the centre of Maseru, a sleepy city of 350,000 people.
21 inmates dead in separate Ecuador prison clashes
Three days of bloody clashes between inmates in Ecuador have left 21 dead and 66 people, including five police officers, injured in the latest bout of gang violence in the country's notoriously brutal prisons, officials said Thursday. The injured included five police members.
OPEC+: a thriving Saudi-Russian marriage of convenience
By ignoring the United States and slashing its oil production, the OPEC+ group of petro-states demonstrated the tightening bond between Saudi Arabia, normally a close US ally, and Russia. "It has survived turbulent periods, including a short but devastating price war between the two heavyweights, Saudi Arabia and Russia in 2020," Varga said, referring to disagreements on production levels.
IMF chief urges action as global recession risks rise
IMF chief Kristalina Georgieva urged global policymakers Thursday to take concerted action to avoid a "dangerous 'new normal,'" as the risks of a worldwide recession are driven ever higher by repeated economic shocks. Policymakers need to act together to "prevent this period of heightened fragility from becoming a dangerous 'new normal,'" Georgieva said.
Ukraine says recaptured vast tracts of key Kherson region
Ukraine said Thursday that it had wrested Russian troops out from swathes of the southern Kherson region, pushing a counter-offensive that has undermined the Kremlin's claim to have annexed the territories.
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