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Germany sees brighter outlook for Europe's largest economy

The German government on Wednesday said it expects to eke out economic growth this year instead of a decline as Europe's largest economy manages its energy divorce from Russia and shells out support for consumers and businesses hit by higher energy costs.

The outlook improved to an 0.2% expansion from a 0.4% contraction expected in October, when Germany feared that this winter it would run out of natural gas used to power factories, generate electricity and heat homes. Warmer-than-usual weather helped, as did a scramble to line up additional supplies of liquefied natural gas, or LNG, that comes by ship instead of pipeline from Russia.

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Dozens protest central bank chief as pound plunges to 56,000

Protesters on Wednesday blocked roads and burnt tires near the central bank in Beirut as the weakened local currency plummeted to a new low against the dollar.

Alaa Kharchib of the Depositors' Outcry Association that had organised the demonstration warned of an impending "social explosion".

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India, Egypt to promote trade, investment, fight terrorism

India and Egypt agreed Wednesday to boost trade between their countries during a visit by the Egyptian president that underscores Prime Minister Narendra Modi's efforts to fortify ties with other emerging economies.

Modi and President Abdel Fattah El-Sissi agreed on measures to increase two-way trade within five years to $12 billion. Trade totaled $7.3 billion in 2021-22. The two countries also signed agreements on expanding cooperation in cyber security, information technology, culture and broadcasting.

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Hundreds in Baghdad protest devaluation of Iraq's currency

Hundreds of protesters rallied Wednesday near the Central Bank in the Iraqi capital, Baghdad, angered by the recent devaluation of the Iraqi dinar and demanding the government take action to stabilize the currency.

The protesters — mainly young people — rallied amid a heavy security presence, with many carrying the Iraqi flag and banners with slogans. One slogan read: "The politicians are the ones covering up the financial corruption for the banks."

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Lebanese pound slumps to new low amid political, judicial turmoil

The arm-wrestling between Prosecutor General Ghassan Oueidat and judge Tarek Bitar, who is investigating the deadly 2020 Beirut port blast, is the latest of crisis-torn Lebanon's mounting woes, as the value of the national currency hit a new record low against the U.S. dollar on Wednesday.

Dozens protested in front of the Central Bank in Beirut, denouncing the slide of the Lebanese pound, which began in 2019.

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US sanctions economist Hassan Moukalled for 'facilitating Hezbollah activities'

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on Tuesday designated several individuals and associated entities accused of “facilitating financial activities for Hezbollah.”

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Twitter faces lawsuits over unpaid rent for US HQ, UK office

More landlords are taking Twitter to court over unpaid rent at the social media company's headquarters in San Francisco and its British offices — the latest legal headaches for billionaire owner Elon Musk, who has been trying to slash expenses.

Twitter is facing a lawsuit over allegations it failed to pay rent for its head office, according to California court documents. The owner of its premises in central London, meanwhile, said it's taking the company to court over rental debt.

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US futures slip the day after tech-powered Wall Street rally

Wall Street stumbled before the bell on Tuesday following a rally the previous day, driven by heavy buying of tech shares as investors bet the Federal Reserve will trim its rate hikes as it makes headway in tamping down inflation.

Futures for the benchmark S&P 500 and futures for the Dow Jones Industrial Average each slipped about 0.3% early Tuesday.

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Crypto firms acted like banks, then collapsed like dominoes

Over the past few years, a number of companies have attempted to act as the cryptocurrency equivalent of a bank, promising lucrative returns to customers who deposited their bitcoin or other digital assets.

In a span of less than 12 months, nearly all of the biggest of those companies have failed spectacularly. Last week, Genesis filed Chapter 11, joining Voyager Digital, Celsius and BlockFi on the list of companies that have either filed for bankruptcy protection or gone out of business.

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Wall Street modestly higher ahead of more corporate earnings

Markets were slightly higher on Wall Street ahead of the bell Monday as investors prepare for another big slate of corporate earnings.

Futures for the Dow Jones industrials and futures for the S&P 500 were both up less than 0.2%.

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