AFP
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Rate hikes: a double-edged sword for central banks
Central banks worldwide are using aggressive interest rate hikes to lasso galloping inflation, at the risk of pulling down the global economy with it. Central banks have since raised hikes in an almost synchronised way, raising concerns that their late and aggressive reactions could now do more harm than good.
Ukraine conflict may hike long-term grain prices 7%: study
Russia's invasion of Ukraine may cause long-term grain prices to rise seven percent, according to a study on Monday showing how expanded production elsewhere to compensate would lead to higher greenhouse gas emissions. Figures from the UN's Food and Agriculture Organization show food prices are currently more than 10 percent higher than they were a year ago.
Lebanon currency hits new low, sparking protests
The Lebanese pound fell to a new low against the US dollar on the black market Monday as a severe economic downturn has sparked bank hold-ups by angry depositors and anti-government protests. For decades, the Lebanese pound was pegged at 1,507 to the dollar, meaning that it has lost around 95 percent of its black market value since 2019.
Switzerland signs contract for 36 US fighter jets
Switzerland signed a controversial contract on Monday to buy 36 US F-35 stealth fighter jets at a cost of more than six billion francs ($6.2 billion). The selection of the F-35 by the Swiss government in June 2021 sparked some controversy, particularly in light of the cost-overruns of the fighter programme in the United States.
Springboks recall Arendse, Nkosi for Argentina Test
Wingers Kurt-Lee Arendse and Sibusiso Nkosi have been recalled by South Africa ahead of a final round Rugby Championship match against Argentina in Durban on Saturday. An ankle injury kept Nkosi out of the squad since the Springboks season began in July while Arendse has completed a four-match ban after being sent off against New Zealand last month.
Kremlin dismisses mass burial discoveries as 'lies'
The Kremlin on Monday denied its forces were responsible for large-scale killings in east Ukraine and accused Kyiv of fabricating its discoveries of mass graves in recaptured territory.
Scholz to visit Saudi as Germany seeks energy supplies
Chancellor Olaf Scholz will visit Saudi Arabia and meet Saudi Crown Prince Mohammed bin Salman as part of a Gulf trip, his spokesman said Monday, as Germany rushes to secure energy supplies.
Wedding, coronation, now funeral: emotive farewell to queen
Queen Elizabeth II was married and crowned in Westminster Abbey. The coffin also bore the instruments of state -- the Imperial State Crown, the Orb and the Sceptre.
With Elizabeth II, 20th century is also laid to rest
The laying to rest of Queen Elizabeth II, whose 70-year reign witnessed the aftermath of World War II, the Cold War and dizzying technological change, marks a further step in a leave-taking with the 20th century. "For me, the death of Elizabeth II, in a way, marks an end point for World War II," he said. lp-sjw/js/jmm
AFP
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