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Lebanon among countries with highest debt

The world's poorest countries are bearing the brunt of the world's debt crisis, at a time when they need more cash than ever to fight climate change.

As top officials gather in Paris for the Summit for a New Global Financing Pact, AFP takes a look at the problem.

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China imports of Russian oil highest since Ukraine invasion

Chinese imports of Russian oil last month hit their highest level since Moscow's February 2022 invasion of Ukraine, customs data showed Tuesday, as Beijing offers an economic lifeline to an increasingly isolated Kremlin.

China is Russia's largest economic partner, with trade between them reaching a record $190 billion last year.

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China urges closer ties as Germany looks beyond Beijing

China's premier on Tuesday urged closer cooperation with Germany to shore up a struggling global economy, at a time when the European export powerhouse is seeking to reduce its reliance on the Asian giant.

Li Qiang, on his first trip abroad since he was named China's prime minister, also underlined the emphasis Beijing places on improving relations with the European Union as criticisms from the bloc grow louder.

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Chinese e-commerce giant Alibaba announces new CEO and chairman in major management reshuffle

China's Alibaba Group has announced a major management reshuffle as the e-commerce giant restructures into six different business divisions to adapt to fast-changing technologies.

The moves also are aimed at spurring growth at a time when the Chinese economy is slowing despite an end to COVID-19 pandemic restrictions a half-year ago.

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US futures down slightly in first trading day after US-China talks

Wall Street is stable Tuesday, the first trading day of the week, after a meeting between Chinese leader Xi Jinping and Secretary of State Antony Blinken yielded no signs of progress from either side on Taiwan, human rights, technology and other issues of contention.

Futures for the Dow Jones industrial and the S&P 500 fell about 0.3% before the bell Tuesday.

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Crown prince meant to embody Jordan's future, but prospects are bleak

Visitors to Jordan this month noticed a new addition to the royal portraits over highways and hospitals. The 28-year-old Crown Prince Hussein and his glamorous Saudi bride, Rajwa Alseif, now beam down at motorists stuck in Amman traffic.

Their royal wedding represented the pinnacle of the monarchy's efforts to establish Hussein as the face of Jordan's next generation — a future king who can modernize the country, slash the red tape and set loose the talents of its bulging young population. Of nearly 10 million people in Jordan, almost two-thirds are under 30.

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Ghosn files $1B lawsuit in Lebanon against Nissan over Japan jail time

Auto tycoon Carlos Ghosn has filed a $1 billion lawsuit against Nissan and about a dozen individuals in Beirut over his imprisonment in Japan and what he says is misinformation spread against him, Lebanese officials said Tuesday.

According to the officials, Ghosn's lawsuit accuses Nissan and the individuals of defamation and of "fabricating charges" against him, which eventually put him behind bars in Japan.

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Wages are finally rising in Japan, as inflation eats away at consumer gains

Wages are rising in Japan more than they have in decades, at least for some workers. But so are prices, leaving many people feeling they must scrimp more than ever.

In May, the consumer price index was up 3.2% from a year earlier, well above the central bank's target of about 2%. That's great news for policymakers trying to get the world's third largest economy out of the doldrums by keeping credit super cheap to spur demand and push prices higher.

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Chinese online shoppers enticed by deep discounts, as zest for spending lags

Chinese shoppers were treated to deep discounts, new products and payment plans as online merchants sought to revive their sluggish appetite for spending during China's first major online shopping festival after the end of zero-COVID policies.

For the first time, e-commerce retailer JD.com did not release the results of its 618 shopping festival, which ended Sunday, making it hard to know just how much was spent. A bigger shopping festival, Single's Day, held on Nov. 11 each year rakes in billions of dollars.

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World follows Wall St lower as Chinese leader meets top US diplomat

Global stock markets followed Wall Street lower Monday after the top U.S. diplomat met China's leader.

London and Paris opened lower. Shanghai, Tokyo and Hong Kong retreated. U.S. markets are closed Monday for a holiday. Oil prices fell.

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