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German lawmakers back plan to expand renewable energy

German lawmakers on Thursday approved a major package of reforms aimed at boosting the production of renewable power, as Chancellor Olaf Scholz warned that the country has for too long relied on energy supplies from Russia.

The government unveiled its 600-page "Easter package" in April, less than two months after Russia's invasion of Ukraine escalated the simmering energy crisis between Moscow and western European neighbors, many of which were buyers of Russian fossil fuels.

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Inflation pushed 71M people into poverty since Ukraine war

A staggering 71 million more people around the world are experiencing poverty as a result of soaring food and energy prices that climbed in the weeks following Russia's invasion of Ukraine, the United Nations Development Program said in a report Thursday.

The UNDP estimates that 51.6 million more people fell into poverty in the first three months after the war, living off $1.90 a day or less. This pushed the total number globally at this threshold to 9% of the world's population. An additional 20 million people slipped to the poverty line of $3.20 a day.

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Russia's war in Ukraine to overshadow G20 talks in Bali

Foreign ministers from the Group of 20 leading rich and developing nations are gathering in Indonesia's resort island of Bali for talks bound to be dominated by the conflict in Ukraine despite an agenda focused on global cooperation and food and energy security.

The one-day gathering will take place on Friday on the mostly Hindu "island of the gods" in the majority Muslim archipelago nation.

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USAID supports $18 million investment in Toters

With support from the Lebanon Trade and Investment Facilitation (TIF) activity, funded by the United States Agency for International Development (USAID), Toters -- the leading Lebanese marketplace, e-grocery, and delivery app -- raised $18 million in equity investment from international and local investors.

The TIF activity supported the investment readiness of Toters by providing valuation analysis, facilitating investor outreach, and conducting deep-dive market analysis. This USAID-supported transaction sets the stage for Toters’ growth plans and enables the company to scale operations and expand in local and regional markets, a statement issued by TIF said.

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Report: Lebanon threatened with oil sanctions after Hezbollah's move

In the wake of Hezbollah’s launching of three drones towards the Karish offshore gas field, the United States warned Lebanon that it might face “deterring punitive measures” that might involve “slapping oil sanctions” on the country, media reports said on Tuesday.

“U.S. mediator Amos Hochstein openly cautioned Lebanese officials that such a step would torpedo the U.S. efforts and could subject the Lebanese investments in the oil and gas resources to the threat of sanctions, especially that it targeted a maritime area that is outside of Lebanon’s internationally-recognized border under the U.N. records,” diplomatic sources told the Nidaa al-Watan newspaper.

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Euro hits 20-year low against dollar

The euro sank Tuesday to the lowest dollar level since 2002 as data pointed to growing recession risks in the eurozone.

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Top NGO calls Switzerland 'safe haven' for Russian oligarchs

A leading Swiss nongovernmental group on Monday called out Switzerland as a "safe haven" for Russian oligarchs and as a trading hub for Russian oil, grain and coal.

Public Eye urged the Swiss executive branch to "use all levers at its disposal to stop the financing of this inhuman aggression," in a reference to Russian President Vladimir Putin's war in Ukraine that has killed thousands of people, driven millions from their homes, and rippled through world economy by driving up food and fuel prices.

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Dutch farmers block entrances to supermarket warehouses

Dutch farmers angry at government plans to slash emissions used tractors and trucks Monday to blockade supermarket distribution centers, the latest actions in a summer of discontent in the country's lucrative agricultural sector.

The Netherlands' busiest aviation hub, Schiphol Airport, urged travelers to use public transport to get to its terminals amid fears that the blockades also would target airports. Fishermen acting out of solidarity with farmers also blocked a number of harbors.

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Ghana seeks IMF support for ailing economy

Ghana said on Friday it was seeking International Monetary Fund (IMF) support for its economy, battered by inflation, a pandemic slump and the war in Ukraine.

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New Zealand leader makes first trip to UK since trade deal

New Zealand Prime Minister Jacinda Ardern on Friday made her first visit to the U.K. since both countries signed a free trade agreement, meeting with British Prime Minister Boris Johnson to boost bilateral ties and discuss Russia's war in Ukraine.

The trip came after both leaders attended the NATO summit in Madrid. They will also discuss security challenges facing the Indo-Pacific region.

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