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After two pandemic years, a summer travel bounce — and chaos

At a tourism conference in Phuket last month, Thailand's prime minister looked out at attendees and posed a question with a predictable answer.

"Are you ready?" Prayuth Chan-ocha asked, dramatically removing his mask and launching what's hoped to be the country's economic reset after more than two years of coronavirus-driven restrictions. When the crowd yelled its answer — yes, according to local media — it might have been speaking for the entire pandemic-battered world.

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OPEC+ may not be much help with high oil, gasoline prices

Oil prices are high, and drivers are paying more at the pump. But the OPEC oil cartel and allied producing nations may not be much help as they decide Thursday how much more crude to send to world markets.

That's because the 23-member OPEC+ alliance, which includes Russia, is struggling to produce enough oil to keep up with the rebounding demand for fuel since the COVID-19 pandemic. Plus, Western buyers are shunning barrels from Russia over its war in Ukraine, meaning there's less oil on the market to go around.

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Crypto rules to make Europe a global leader as prices plunge

Europe prepared to lead the world in regulating the freewheeling cryptocurrency industry at a time when prices have plunged, wiping out fortunes, fueling skepticism and sparking calls for tighter scrutiny.

The European Union took a first step late Wednesday by agreeing on new rules subjecting cryptocurrency transfers to the same money-laundering rules as traditional banking transfers.

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Sri Lanka crisis gives India chance to gain sway vs China

Sri Lanka's strategic location has attracted outsized interest in the small island nation from regional giants China and India for more than a decade, with Beijing and its free-flowing loans and infrastructure investments widely seen as having gained the upper hand in the quest for influence.

But Sri Lanka's economic collapse has proved an opportunity for India to swing the pendulum back, with New Delhi stepping in with massive financial and material assistance to its neighbor.

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Climate concerns grow as US helps Europe replace Russian gas

Amos Hochstein, President Joe Biden's point man for global energy problems, says he knows that transitioning away from the climate-wrecking pollution of fossil fuels is the only way to go. He advocates urgently for renewable energy, for energy-smart thermostats and heat pumps.

But when it comes to tackling the pressing energy challenges presented by Russia's war on Ukraine, Hochstein also can sound like nothing as much as the West's oilfield roustabout, taking a giant pipe wrench to the world's near-crisis-level energy shortfalls.

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Gas lines and scuffles: Sri Lanka faces humanitarian crisis

Chamila Nilanthi is tired of all the waiting. The 47-year-old mother of two spent three days lining up to get kerosene in the Sri Lankan town of Gampaha, northeast of the capital Colombo. Two weeks earlier, she spent three days in a queue for cooking gas -- but came home with none.

"I am totally fed up, exhausted,'' she said. "I don't know how long we have to do this.''

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New York's 1st legal marijuana crop sprouts under the sun

New York's recreational marijuana market is beginning to sprout, literally, with thin-leafed plants stretching toward the sun in farms around the state.

In a novel move, New York gave 203 hemp growers first shot at cultivating marijuana destined for legal sales, which could start by the end of the year. Big indoor growers are expected to join later.

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Egypt to receive $500 mn from World Bank to boost food security

The world's top wheat importer Egypt said Wednesday it is to receive $500 million from the World Bank to alleviate the impact of war between its main suppliers Russia and Ukraine.

"The World Bank financing will support the government's efforts to meet food needs and enhance resilience to future shocks," International Cooperation Minister Rania al-Mashat said in a statement.

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US implements G7 sanctions targeting Russian military, gold

Washington announced steps Tuesday to implement the new sanctions on Russia as agreed by G7 leaders, targeting Moscow's defense industry and banning gold imports from the country.

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G7 plans 'international reconstruction conference' for Ukraine

G7 leaders said on Tuesday that they planned an international conference to rally funds for Ukraine's post-war reconstruction.

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