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Israel-Hamas war causes 86-percent dive in Gaza GDP: IMF
A year of conflict between Israel and Hamas has resulted in a "devastating impact on the economy" in the occupied West Bank and Gaza, the IMF said Thursday, including a nearly 90 percent drop in Gaza's GDP. "Preliminary official estimates indicate an 86 percent decline in GDP in the first half of 2024" in Gaza, said International Monetary Fund communications chief Julie Kozack.
Revolut urges Meta to step up on cyber fraud reimbursement
British online bank Revolut on Thursday urged Facebook owner Meta to reimburse victims of password security breaches, blasting the US tech giant's data-sharing partnership with several UK banks as "woefully" inadequate.
Sri Lanka's new president seek changes to IMF deal
Sri Lanka's new president Thursday urged the IMF to consider "alternative means" to continue with a $2.9 billion bailout that aided his country in the wake of a sovereign default but imposed painful austerity. Sri Lanka declared a sovereign default on its $46 billion debt in April 2022 after running out of foreign exchange.
'Welcome relief': Asia producers hail EU deforestation law delay
Producers from Malaysia's palm oil industry to Vietnam's coffee sector on Thursday welcomed a European Union decision to delay implementation of its anti-deforestation rules. Malaysia's Palm Oil Council welcomed the proposed delay as a "victory for common sense".
Japan PM slated to announce plans for 'happiness index'
Japan's Prime Minister Shigeru Ishiba will propose a new happiness index during his first parliamentary policy speech on Friday, local media have reported. The premier will also announce plans to increase Japan's average minimum wage to 1,500 yen ($10.22) by 2030, from the current 1,055 yen, local media reported.
Turkish inflation falls less than expected in September at 49.4%
Turkish annual inflation slowed less than expected in September to 49.4 percent, official data showed Thursday, a figure which analysts said could disappoint central bank officials after a series of interest rate hikes.
Skiing calls on UN climate science to combat melting future
World skiing's governing body joined forces with the UN's weather agency on Thursday in a bid to feed its meteorological expertise into managing the "existential threat" to winter sports posed by climate change.
Easing inflation lifts profit at UK supermarket Tesco
Supermarket group Tesco, Britain's biggest retailer, said Thursday that net profit gained in its first half as cost pressures eased for consumers and companies. The company noted that "sales inflation returned to more normalised levels as cost inflation headwinds eased".
China wine industry looks to breed climate resilience
At a laboratory in Beijing, purple and green hybrid-species grapes are laid out on a board for testing, part of the strategy China's nascent wine industry is using to try to combat climate challenges. - Creating hybrids - The most ambitious strategies involve developing new hybrid grape varieties that are more resistant to inclement weather.
AFP
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