Shanghai Disneyland closed Monday as China's most populous city tried to contain its biggest coronavirus flareup in two years, while the southern business center of Shenzhen allowed shops and offices to reopen after a weeklong closure.
Meanwhile, the cities of Changchun and Jilin in the northeast began another round of citywide virus testing following a surge in infections. Jilin tightened anti-disease curbs, ordering its 2 million residents to stay home.
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Russia’s central bank has cautiously reopened bond trading on the Moscow exchange for the first time since the country invaded Ukraine.
The price of Russia’s ruble-denominated government debt fell Monday, sending borrowing costs higher. Stock trading has remained closed, with no word on when it might reopen.
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Egypt's Central Bank raised its key interest rate Monday for the first time since 2017, citing inflationary pressures triggered by the coronavirus pandemic and Russia's war in Ukraine, which hiked oil prices to new records.
The move saw the Egyptian pound slip, trading at over 18 to the dollar by midday — from an average of 15.6 pounds for $1 — after the bank's decision. That is likely to have a heavy toll on poor and middle-class Egyptians.
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Saudi Arabia said on Monday that it "won't bear any responsibility" for a shortage in global oil supplies after a fierce barrage of attacks by Yemen's Houthi rebels affected production in the kingdom, the world's largest oil exporter.
The unusually stark warning marked a departure from the giant oil producer's typically cautious statements, as Saudi officials remain aware that even their smallest comments can swing the price of oil and rattle global markets.
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Yemen's Houthi rebels unleashed a barrage of drone and missile strikes on Saudi Arabia that targeted key facilities including natural gas and desalination plants early Sunday, Saudi state-run media reported, temporarily reducing oil production at one site in the latest escalation as peace talks stall and the war in Yemen rages into its eighth year.
The attacks did not cause casualties, the Saudi-led military coalition fighting in Yemen said, but damaged civilian vehicles and homes in the area. A Saudi energy official later acknowledged that a drone strike targeting the Yanbu Aramco Sinopec Refining Company on the Red Sea coast caused "a temporary reduction in the refinery's production."
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President Michel Aoun on Friday denied any role for the Presidency in the judicial measures that have been taken against a number of banks in recent days.
“The media campaigns that escalated over the past two days, which tried to allege a role for the Presidency in the judicial measures that have been taken against several banks, are the epitome of falsification, unjust accusations and disinformation,” Aoun said.
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Prime Minister Najib Miqati held a meeting Friday at the Grand Serail with Justice Minister Henri Khoury, amid unprecedented measures by some judges against a number of commercial banks.
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The Association of Banks in Lebanon confirmed Friday evening that all Lebanese banks will stage a two-day strike on Monday and Tuesday in protest at the latest judicial measures against the country's biggest banks.
"This is a first step aimed at cautioning and raising awareness about the dangerousness of the current situations," ABL said in a statement, demanding "the rectification of the current irregularity, the issuance of the capital control law as soon as possible, and the approval and implementation of a recovery plan."
NAHNOO, a Lebanese non-governmental organization, launched Friday in collaboration with the U.N. Information Center in Beirut (UNIC Beirut), a campaign titled “Our Crafts, Our Identity,” to advocate for the ratification of a law that organizes and develops the crafts sector in Lebanon in line with the market needs.
The campaign will be promoted on social media and local TV stations. It aims at advocating for a legal framework for the Lebanese crafts sector to ensure much-needed economic, social, and cultural protection for craftsmen and craftswomen. It also falls within the framework of the 17 Sustainable Development Goals (SDGs) that Lebanon is working on achieving, particularly SDGs 8 and 9 on promoting decent work, sustainable industrialization and innovation.
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The IMF will send staff to Lebanon and Tunisia this month to further discussions on new financial aid programs for the countries, a fund spokesman said Thursday.
The tw governments have been seeking support for their troubled economies for months but have yet to reach agreements with the Washington-based crisis lender.
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