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IMF raises concerns about effects of Sudan conflict on neighbors
IMF raises concerns about effects of Sudan conflict on neighbors
by  AFP

The war in Sudan is likely to cause heavy economic damage in neighboring countries, the IMF's deputy director for Africa, Catherine Pattillo, told AFP. "What is going on there for the people in Sudan is just so heart wrenching and devastating. "You could think of Sudan (and) also some of the security issues in the Sahelian countries, also affecting growth," Pattillo said.

UK's Labour govt prepares to unveil its first budget
UK's Labour govt prepares to unveil its first budget
by  AFP

Britain’s new Labour government unveils its maiden budget Wednesday, with Prime Minister Keir Starmer warning of "painful" decisions over taxes and public spending. "Alongside tough decisions on spending and welfare... taxes will need to rise," Reeves wrote in the Financial Times on Thursday.

Germany promises more visas for Indians during Scholz visit
Germany promises more visas for Indians during Scholz visit
by  AFP

Germany promised to dramatically boost the number of skilled Indians it permits to work in the country as Prime Minister Narendra Modi hosted Chancellor Olaf Scholz in New Delhi on Friday. His administration agreed to increase the number of visas granted annually to skilled Indian workers to 90,000, up from 20,000.

Russia hikes interest rates to 21%, highest since 2003
Russia hikes interest rates to 21%, highest since 2003
by  AFP

Russia's central bank hiked interest rates to 21 percent on Friday, taking borrowing costs to their highest level in more than 20 years amid surging inflation. Official borrowing costs in Russia have not been above 20 percent since 2003.

Locals fume as Lisbon's historic trams become tourist 'toy'
Locals fume as Lisbon's historic trams become tourist 'toy'
by  AFP

An age-old symbol of the Portuguese capital, Lisbon's rickety yellow trams have become such a magnet for tourists that some locals complain they can no longer grab a ride. Local associations have for years demanded a more reliable public transport system for both residents and tourists.