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China tries to limit economic blow of Shanghai shutdown

As millions of people in Shanghai line up for coronavirus tests, authorities are promising tax refunds for shopkeepers in the closed-down metropolis and to keep the world's busiest port functioning to limit disruption to industry and trade.

This week's shutdown of most activity in China's most populous city to contain virus outbreaks jolted global financial markets that already were on edge about Russia's war on Ukraine, higher U.S. interest rates and a Chinese economic slowdown.

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UK ambassador visits Baalbek and AUST Zahle campus

British Ambassador to Lebanon Ian Collard has visited Baalbek ‘the City of the Sun’ and joined students at the American University of Science and Technology in Zahle.

"The Ambassador’s visit to Baalbek (on Tuesday) was an opportunity to hear from Baalbek-Hermel Governor Bachir Khodr, local officials, dignitaries and NGOs about the important work they are doing to support their communities during very difficult times," the British Embassy in Beirut said.

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U.N. launches online survey targeting agri-food sector in Lebanon

The U.N. Productive Sectors Development Program (PSDP) funded by the Government of Canada is launching an online survey for women and men farmers, entrepreneurs, and Medium and Small to Medium industries and cooperatives working in the agri-food sector in Lebanon.

The survey aims to select beneficiaries in the PSDP’s activities, which will include technology transfer and technical skills training in the agricultural and agri-food sectors, training on environmental sustainability, and in-kind support, with a specific focus on female youth skills’ upgrade, and innovations promotion.

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Lebanese face frugal Ramadan as Ukraine war drives up food prices  

Russia's Ukraine invasion, which has already exacerbated food woes in parts of Africa and the Middle East, is marring preparations for the holy month of Ramadan and forcing a turn to frugal iftar sunset meals. 

From Lebanon to Tunisia and Somalia, Muslims who traditionally break a dawn-to-dusk fast with lavish family meals, are now struggling to secure even the most basic staples in light of skyrocketing food and fuel prices.

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Poland to cut all Russian oil imports; Germany warns on gas

Poland will take steps to cut Russian oil imports by the end of 2022, the prime minister said Wednesday, as Germany triggered an early warning level for natural gas supplies and called on consumers to save energy amid Russia's war in Ukraine.

Poland has already largely reduced its dependence on Russian oil, Prime Minister Mateusz Morawiecki said.

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What would paying for natural gas in rubles mean?

Europe's already high gas prices have gyrated since Russian President Vladimir Putin announced plans to have importers pay for Russian natural gas in rubles instead of dollars and euros.

Here's a look at some of the implications of such a move:

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Hong Kong's COVID Toll Leads Some to Eco-Friendlier Coffins

Hong Kong's deadliest coronavirus outbreak has cost about 6,000 lives this year – and the city is now running out of coffins.

Authorities have scrambled to order more, with the government saying 1,200 coffins had reached the city last week with more to come.

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Protest in India's Capital on 2nd Day of Nationwide Strike

Hundreds of workers marched with the red flags of the labor unions and chanted anti-government slogans in India's capital on Tuesday as part of a two-day nationwide strike that began Monday.

The demonstration was held at Jantar Mantar, an area of New Delhi close to Parliament that is often used for protests. Protesters said economic policies under Prime Minister Narendra Modi's government were hurting workers and the country's vast unorganized sector.

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Saudi Oil Chief Says Energy Security Imperiled by Attacks

Saudi Arabia's oil chief said markets are going through a "jittery period" and reiterated Tuesday that the kingdom's ability to ensure energy security is no longer guaranteed.

Energy Minister Prince Abdulaziz bin Salman said cross-border attacks have put to question "our ability to supply the world with the necessary energy requirements." The attacks have been carried out by Yemen's rebel Houthis, who are supported by Iran.

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Dubai Developer Union Properties Says $42M 'Misappropriated'

A troubled Dubai real estate developer said Monday it suspected that $42 million had been "misappropriated" by the company's former officials while saying it massively overvalued its holdings, declaring nearly $800 million in accumulated losses in recent years.

The announcement by Union Properties comes as Emirati prosecutors announced in October they were investigating the firm. Already, the firm's board of directors has seen its chairmen and other officials dismissed amid the probe.

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