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Stock Investors' Nerves Tested by Inflation, Omicron, Russia

The stock market is losing crucial support from the Federal Reserve. Omicron is causing havoc at businesses around the world. And Russia just might be preparing to invade Ukraine, creating more uncertainty and raising the prospect of even higher oil prices.

No wonder investors are freaking out — and selling stocks.

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Miqati Thanks Jordan, Syria for Power Deal as Cabinet Continues State Budget Discussions

Prime minister Najib Miqati chaired Wednesday a Cabinet session to continue studying the draft law of the 2022 state budget.

Cabinet will reconvene on Thursday morning, the National News Agency said.

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BDL Extends Circular Allowing Banks to Buy Dollars at Sayrafa Rate

The central bank on Wednesday extended until the end of February the implementation of Circular 161.

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Indigenous Town in Mexico Survives on Remittances from U.S.

In Comachuen, a Purepecha Indigenous community of about 10,000 inhabitants nestled high in the pine-clad mountains of the western state of Michoacan, the whole town survives because of the money sent home by migrants working in the United States.

That money, known as remittances, kept families fed after local woodworking sales dropped off a decade ago when pine lumber started to become scarce. The money has allowed their families to remain in Comachuen rather than moving to other parts of Mexico for work. That — and the fact kids spend much of the year with their mothers and grandparents — has helped preserve the Purepecha language among almost everyone in town.

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U.S. Approves Major Arms Sale to Egypt Despite Rights Concerns

The Biden administration has approved a massive $2.5 billion arms sale to Egypt despite ongoing concerns over human rights.

The sales were announced just hours after congressional Democrats urged the administration not to release a much smaller package of military assistance that had been put on hold last year pending the Egyptian government meeting certain rights-related conditions.

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Lebanon Signs Power Deal with Jordan, Syria to Boost Ailing Grid

The energy ministers of Lebanon, Jordan and Syria signed Wednesday an agreement in Beirut for supplying Lebanon with Jordanian electricity via Syria.

A power cut at the Ministry of Energy caused a short delay before the agreements of purchase and transit were signed.

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U.S., Europe Plan for Any Cutoff of Russian Natural Gas

U.S. and European officials are coordinating with natural gas suppliers around the globe to cushion the impact if Russia were to cut off energy supplies in the conflict over Ukraine, Biden administration officials say.

The U.S. and European allies have promised punishing economic and political sanctions if Russia moves its military into Ukraine, but worry about repercussions for Europeans from any such sanctions, including Russia potentially cutting off delivery of its natural gas to Europe at the height of winter.

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Biden to Meet Qatar Leader as Energy Worries Loom in Europe

President Joe Biden will host the ruling emir of Qatar at the White House on Monday, a visit that comes as U.S. and European allies are scrambling to put together contingency plans to meet Europe's energy needs should supplies be impacted by Russia further invading Ukraine.

White House press secretary Jen Psaki said Biden and Sheikh Tamim bin Hamad Al Thani planned to discuss Middle East security, ensuring the stability of global energy supplies and the situation in Afghanistan, where humanitarian conditions have deteriorated in the aftermath of the U.S. military withdrawal and Taliban takeover last year.

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European Stocks Rebound, Wall Street Sinks as Fed Meets

Wall Street stocks sank at the start of trading on Tuesday as the Federal Reserve began a two-day monetary policy meeting, while European stocks rebounded.

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IMF Hopes for 'Progress' on Argentina Deal in 'Next Days'

The IMF hopes to make "more progress" in talks on a new financial aid program for Argentina shortly, a senior fund official said Tuesday.

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