The Lebanese pound on Thursday hit a record low against the dollar on the black market, as the country's grinding political and economic crises show no signs of abating.

The pound has lost more than 95 percent of its value against the greenback since the start of the economic crisis in 2019.

Caretaker Energy Minister Walid Fayyad has stressed that gasoline will not be priced in USD.

Responding to a warning from station owners that they would go on strike unless gasoline is priced in USD, Fayyad told LBCI TV that “the Ministry is working on a platform in order to issue more than two price tables per day in order to catch up with the exchange rate fluctuations.”

Sparks are flying over French President Emmanuel Macron's plan to raise the retirement age — not just in the streets, but in parliament too. The proposed pension reforms have unleashed the most turbulent debate in years in the National Assembly, with uncertainty looming over the final outcome.

Tensions at parliament are fed by the unpopularity of the reform aimed at raising the minimum retirement age from 62 to 64 and requiring people to have worked for at least 43 years to be entitled to a full pension, amid other measures.

The European Union is considering a new set of sanctions totaling 11 billion euros against Russia and some third countries providing vital goods that Moscow uses to boost its troops on the battlegrounds in Ukraine.

European Commission President Ursula von der Leyen said Wednesday that the package under consideration by the EU's 27 member countries specifically seeks to deprive Russia of military equipment it needs and cannot get anywhere else.

Billionaire Elon Musk said Wednesday that he anticipates finding a CEO for Twitter "probably toward the end of this year."

Speaking via a video call to the World Government Summit in Dubai, Musk said making sure the platform can function remained the most important thing for him.

An Egyptian widow is struggling to afford meat and eggs for her five children. An exasperated German laundry owner watches as his energy bill jumps fivefold. Nigerian bakeries have shut their doors, unable to afford the exorbitant price of flour.

One year after Russia invaded Ukraine on Feb. 24, 2022, and caused widespread suffering, the global economy is still enduring the consequences — crunched supplies of grain, fertilizer and energy along with more inflation and economic uncertainty in a world that was already contending with too much of both.

Demonstrators in northern Lebanon on Wednesday blocked several roads in protest at the unprecedented dollar rate surge and the dire economic situations.

Egypt, sapped dry of dollars despite a $3 billion International Monetary Fund bailout loan, is seeking to boost its coffers by selling state assets to wealthy Gulf nations.

Experts say the deals could be a win-win for all sides, but unlike old Gulf largesse of unconditional aid, the new deals will require reforms.

Iranian President Ebrahim Raisi arrived in China on Tuesday for a three-day visit, flanked by a large delegation including his central bank chief and ministers for trade, the economy and oil.

Europe's economy will grow more than previously forecast this year as it avoids a winter recession, with inflation expected to ease as gas prices have fallen, the European Commission said Monday.