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Russia pushed into historic default by sanctions, claims US

LONDON: Russia defaulted on its international bonds for the first time in more than a century, the White House said, as sweeping sanctions have effectively cut the country off from the global financial system, rendering its assets untouchable. The Kremlin,

Pakistan’s fuel oil imports hit 4-yr high as it struggles to buy LNG

SINGAPORE: Pakistan’s monthly fuel oil imports are set to hit a four-year high in June, Refinitiv data showed, as the country struggles to buy liquefied natural gas (LNG) for power generation amid a heat wave that is driving demand. The

Palm oil jumps over 6% on strength in rival oils, mill closures

KUALA LUMPUR: Malaysian palm oil futures jumped as much as 6.5% on Monday, recouping some losses from last week, supported by gains in rival oils and mill closures, although weak exports in June so far weighed on sentiment. The benchmark

Afghanistan earthquake survivors unsafe as aftershocks continue: Taliban minister

KABUL: Aftershocks continue to be felt in the area hit by a deadly earthquake in Afghanistan last week and the area remains unsafe for survivors, a senior Afghan official said on Monday, as authorities continued to grapple with the disaster’s

Reading the market tea-leaves for global slump risks

LONDON: The fastest rate-hiking cycle in decades and inflation nearing double-digits have got investors scouring market moves and data to gauge whether the world economy is headed for recession. Business activity is slowing, many stock indexes are in “bear” territory,

Democratic women call on Biden, Congress to protect federal abortion rights

WASHINGTON:  Leading Democratic women called on President Joe Biden and Congress on Sunday to protect abortion rights nationwide after the U.S. Supreme Court overturned Roe v. Wade, in a ruling that has heightened political tensions between the federal government and

Beijing to reopen schools as Shanghai declares victory over COVID

BEIJING: Beijing on Saturday said it would allow primary and secondary schools to resume in-person classes and Shanghai’s top party boss declared victory over COVID-19 after the city reported zero new local cases for the first time in two months.

U.S. crypto firm hit by $100 million heist

LONDON: U.S. crypto firm Harmony said that thieves stole around $100 million worth of digital coins from one of its key products, the latest in a string of cyber heists on a sector long targeted by hackers. Harmony develops blockchains

Two dead, 14 wounded in Norway nightclub shooting

OSLO: Two people were killed and 14 wounded on Saturday in a shooting at a nightclub and in nearby streets in Norway’s capital Oslo, Norwegian police said. A suspect believed to be the sole perpetrator was apprehended, police told reporters.

US crypto firm Harmony hit by $100 million heist

WASHINGTON: US crypto firm Harmony said on Friday that thieves stole around $100 million worth of digital coins from one of its key products, the latest in a string of cyber heists on a sector long targeted by hackers. Harmony

Netflix lays off 300 employees in cost-cutting drive

 Netflix Inc (NFLX.O) said it laid off 300 employees, or about 4% of its workforce, in the second round of job cuts aimed at lowering costs after the streaming giant lost subscribers for the first time in more than a

Maradona’s doctors and nurses to be tried for homicide, rules Argentine court

BUENOS AIRES: Eight people who took care of soccer legend Diego Maradona will be tried in Argentina courts for homicide, according to a ruling released on Wednesday following an investigation into his November 2020 death due to cardiac arrest. In

Russia seeks new fuel markets in Africa, Middle East

MOSCOW: Russia is increasing gasoline and naphtha supplies to Africa and the Middle East as it struggles to sell fuel in Europe, while Asia is already taking bigger volumes of Russian crude, Refinitiv Eikon data showed and sources said. The

Poliovirus found in London sewage samples

LONDON: Polio has been detected in sewage samples in the British capital, the first sign since the 1980s that the virus could be spreading in the country, but no cases have been found, authorities said. The risk of infection from

Worldwide oil-refining crunch contributing to high prices

LONDON: Drivers around the world are feeling pain at the pump with fuel prices soaring, and costs are surging for heating buildings, power generation and industrial production. Prices were already elevated before Russia invaded Ukraine on Feb. 24. But since

Afghanistan earthquake kills at least 1,000, more trapped in rubble

KABUL: The death toll from an earthquake in Afghanistan on Wednesday hit 1,000, disaster management officials said, with more than 600 injured and the toll is expected to grow as information trickles in from remote mountain villages. Houses were reduced

Google resolves French copyright dispute over online content

PARIS: Alphabet unit Google has committed to resolving a copyright dispute in France over online content, the country’s antitrust authority said on Tuesday, as pressure mounts for big tech platforms to share more of their revenue with news outlets. Google,

Saudi Arabia, Egypt sign deals worth $7.7 bn

CAIRO: Saudi Arabia’s powerful Crown Prince Mohammed bin Salman departed for Jordan after wrapping up a visit to Egypt following talks with President Abdel Fattah el-Sissi. The two leaders discussed a wide range of topics, including ties between the two

No place for burkinis in Grenoble’s public pools, rules top French court

PARIS: Full-body swimwear including the Burkini should not be worn in public pools in the city of Grenoble, France’s top administrative court ruled on Tuesday, upholding an earlier order by a lower court. “The new rules of procedure for the

Saudi crown prince heads to Egypt on start of tour

RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman headed to Egypt, state news agency SPA said, starting his first tour outside the Gulf region in over three years. He will also visit Jordan and Turkey. The prince s trip comes

England have sights set on 500-run mark: Buttler

LONDON: England will keep chasing the 500-run mark in one-day internationals (ODI) after narrowly missing out on the milestone in a record-breaking win over Netherlands, Jos Buttler said. England broke their own record for the highest team total in ODI

Protests intensify over Indian military recruitment plan

LUCKNOW: Protesters in India’s eastern state of Bihar damaged public property and ransacked offices in a railway station on Saturday, expressing outrage at a new military recruitment plan and demanding the government reverse course. Prime Minister Narendra Modi’s government has

Russian war in Ukraine could last years, NATO chief warns

KYIV: The head of NATO said on Sunday the war in Ukraine could last years and Ukrainian forces faced intensified Russian assaults after the EU executive recommended that Kyiv should be granted the status of a candidate to join the

Biden unhurt after flubbing bike dismount

REHOBOTH BEACH: US President Joe Biden took a spill from his bike on Saturday as he stopped to greet supporters during a weekend trip to Rehoboth Beach, Delaware. He appeared to be uninjured after standing up immediately. “I’m good,” Biden,

Protests intensify over India military recruitment plan, government tweaks scheme

BHUBANESHWAR/LUCKNOW: Protesters in India’s eastern state of Bihar damaged public property and ransacked offices in a railway station on Saturday, expressing outrage at a new military recruitment plan and demanding the government reverse course. Prime Minister Narendra Modi’s government has

Oil slumps 6% in inrernational market

NEW YORK: Oil prices tumbled about 6% to a four-week low on worries that interest rate hikes by major central banks could slow the global economy and cut demand for energy. Also pressuring prices, the US dollar this week rose

China launches third aircraft carrier

BEIJING: China launched its third aircraft carrier, the Fujian, named after the province opposite self-ruled Taiwan, sending a statement of intent to rivals as it modernises its military. President Xi Jinping has made overhauling the world’s largest armed forces a

Protests against India’s new military recruitment system turn violent

LUCKNOW: Police in northern India fired shots in the air on Thursday to push back stone-throwing crowds and authorities shut off mobile internet in at least one district to forestall further chaos, as protests widened against a new military recruitment

North Korea sends aid to 800 families suffering from intestinal epidemic

SEOUL: North Korean leader Kim Jong Un and other senior officials prepared aid to send to 800 families suffering from an unidentified intestinal epidemic as the country also battles its first COVID-19 outbreak. North Korea revealed this week it was

Russian, Belarusian players allowed to compete at US Open

NEW YORK: Russian and Belarusian players will be allowed to compete at the US Open this year but only as neutrals, the United States Tennis Association (USTA) announced, in stark contrast to Wimbledon which banned them. Wimbledon’s move to ban