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Beleaguered Syria Suffers Also Due to Suez Canal Closure

Syria has begun rationing the distribution of fuel in the war-torn country amid concerns that shipments could be delayed because Egypt's Suez Canal is being blocked by a giant cargo ship that has run aground, the Oil Ministry said.

The container ship remained stuck sideways in the Suez Canal over the weekend, as authorities prepared to make new attempts to free the vessel and reopen a crucial east-west waterway for global shipping.

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World Bank, IMF Say Sudan Eligible for Debt Relief after U.S. Deal

The United States confirmed on Friday that it has assisted Sudan with more than $1 billion to help clear arrears at the World Bank as it hailed reforms by the civilian-backed government.

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Attempt to Refloat Ship Blocking Suez Canal Fails

An attempt Friday to refloat a giant container ship blocking Egypt's Suez Canal has failed, the vessel's managers said. 

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Russia Says Suez Jam Shows Arctic Route Should be Developed

The Suez Canal jam has highlighted the importance of further developing Russia's Arctic shipping route, which is increasingly accessible due to climate change, a senior Russian diplomat said on Friday.

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Maritime Trade to Slow Down after Ship Blocks Suez Canal

Maritime trade will slow down for days after a giant container ship got stuck sideways in the Suez Canal, causing a bottleneck in one of the world's busiest shipping routes.

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Yellen Defends IMF Reserve Increase aimed at Poor Nations

U.S. Treasury Secretary Janet Yellen on Wednesday defended the IMF's move to boost its reserve offerings, calling the increased aid a "joint effort" to help the poorest nations hit by Covid-19.

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Global Markets Fall again as Covid Crisis Festers

Stock markets fell further Wednesday, as investors dumped risky shares on concerns that Europe's worsening coronavirus crisis could derail economic recovery, dealers said.

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Eurozone Economy Returns to Growth as Germany Revs Up

The eurozone economy returned to growth for the first time in six months in March, a closely watched survey said Wednesday, as coronavirus lockdowns had little effect on manufacturing, especially in Germany.

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Asian Markets Drop as Inflation Spectre Hangs

Asian markets fell Tuesday as investors extended recent sell-offs owing to long-running fears that the expected global recovery will force central banks to wind down their easy-money programmes earlier than hoped.

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Liberia to Print New Banknotes after Longstanding Shortages

Liberia has approved a scheme to print new banknotes, according to an AFP journalist, in a bid to address long-running cash shortages in the poor West African nation.

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