World Bank issues negative forecast for Egypt’s economy.

The World Bank lowered its forecast for Egypt’s gross domestic product growth during the current fiscal year to four percent from 4.8 percent which it had previously predicted in its October report. According to a report on the latest economic developments on Thursday, the W…

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China’s Yuan replaces dollar as most traded currency in Russia.

China’s yuan has replaced the US dollar as the most traded currency in Russia, a year after the invasion of Ukraine led to a slew of Western sanctions against Moscow. The yuan surpassed the dollar in monthly trading volume in February for the first time, and the difference b…

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The World’s Youngest Billionaires 2023.

The average billionaire is 65 years old, according to Forbes’ latest ranking of the planet’s richest people, and the eldest is insurance tycoon George Joseph, who’s 101. But old age is not a requirement for amassing great wealth. In fact, there are 15 people around the glob…

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The 25 Richest People In The World 2023.

It was a down year for many of the planet’s 2,640 billionaires–including those at the very top of the top. The 25 richest people in the world are worth a collective $2.1 trillion, according to Forbes’ World’s Billionaires list, released Tuesday–down a combined $200 billion …

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Somalia to issue new currency to restore its central bank’s powers.

The Central Bank of Somalia’s top priority is to reestablish the nation’s currency, which will enable it to take full control of monetary policy, its governor said.  Somalia hasn’t printed new banknotes since descending into a civil war after the government collapsed in 1991…

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China spent $240 billion bailing out 'Belt and Road' countries.

China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building "Belt and Road" infrastructure, a study publish showed. Almost 80% of the lending was ma…

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Shiba Inu: New listing of SHIB by Japanese crypto exchange.

The world’s second-largest memecoin Shiba Inu (SHIB) continues to expand its footprint marketwide. In the latest development, the Shiba Inu community has pushed the listing of SHIB tokens to major Japanese crypto exchanges. BitFlyer, one of the largest exchanges operating in…

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Sri Lanka’s NCPI-based inflation for February 2023 recorded at 53.6%

The National Consumer Price Index (NCPI) for the month of February 2023  was recorded at 53.6%, as measured by the Year-on-Year change, the Department of Census and Statistics (DCS) revealed in its latest report. This is a slight increase in comparison to the headline inflat…

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Sri Lanka hosts 3rd meeting of IORA Working Group on Maritime Safety and Security.

The Third Meeting of the Indian Ocean Rim Association’s (IORA) Working Group on Maritime Safety and Security (WGMSS) chaired by Sri Lanka was held in Colombo on Monday (March 20) with the participation of the 23 IORA member states. The Secretary General of IORA Secretariat S…

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Argentina inflation soars past 100% mark.

Argentina's inflation rate has soared past 100% for the first time since the end of hyperinflation in the early 90s. Inflation hit 102.5% in February, the country's statistics agency said, meaning the price of many consumer goods has more than doubled since 2022. Arge…

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Thousands may have lost out to crypto trading app.

Thousands of people are believed to have lost their savings after investing in a cryptocurrency trading app called iEarn Bot. Experts who have investigated the company say it could be one of the largest crypto scandals to date. Trading in cryptocurrencies has become popular, …

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Lebanon’s currency value plunges to 100,000 against US dollar.

The Lebanese pound has sunk to a historic low against the US dollar on the country’s parallel market, the latest sombre milestone in an economic meltdown that has plunged much of the population into poverty. The Lebanese pound, officially pegged at 15,000 to the dollar, was …

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Japan retrial for world's longest-serving death row inmate.

A Japanese man who was on death row for nearly half a century has been granted a retrial. Iwao Hakamada, now 87, is the world's longest-serving death row inmate, according to Amnesty International. He was sentenced to death in 1968 for murdering his boss, the man's wi…

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Inflation could come down faster than earlier forecast.

Central Bank Governor Dr. Nandalal Weerasinghe says inflation is likely to come down faster than earlier forecast, even by the Central Bank, and Sri Lanka could achieve the 4-6 percent preferred inflation band by early part of the fourth quarter of this year. It became evide…

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