N.Korea says U.S.-S.Korea drills push tension to ‘brink of nuclear war’

By Hyonhee Shin SEOUL (Reuters) -North Korea accused the U.S. and South Korea of escalating tensions to the brink of nuclear war through their joint military drills, vowing to respond with “offensive action”, state media KCNA reported on Thursday. KCNA released a commentary by Choe Ju Hyon, whom it called an international security analyst, criticising …

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Saudi Arabia commits financial support to help Pakistan secure IMF deal – minister

By Asif Shahzad ISLAMABAD (Reuters) -Saudi Arabia has told the International Monetary Fund it will provide financing to Pakistan, Pakistani junior finance minister Aisha Ghaus Pasha said on Thursday, a critical step needed to secure IMF funding. Saudi Arabia’s $2 billion pledged in external financing support to Pakistan is one of the final conditions for …

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IMF’s Georgieva sees global growth below 3% in 2023, robust recovery ‘elusive’

By Andrea Shalal WASHINGTON (Reuters) -The International Monetary Fund expects global economic growth to dip below 3% in 2023 and to remain at around 3% for the next five years, Managing Director Kristalina Georgieva said on Thursday, flagging increased downside risks. That is the global lender’s lowest medium-term growth forecast since 1990, and well below …

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Peru set to jail third ex-president as Toledo awaits extradition from U.S.

LIMA (Reuters) – A U.S. court rejected an appeal by former Peruvian president Alejandro Toledo to stall his extradition over corruption charges, making it likely that he will be the third former leader to be held in a purpose-built jail in Lima. Peru’s Justice Minister Jose Tello said on Wednesday night that a California court …

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Column-Another Fed milestone? Policy peak with negative real rates: McGeever

By Jamie McGeever ORLANDO, Florida (Reuters) – The Federal Reserve could be set to follow its historic interest rate-hiking campaign with another policy milestone – ending a tightening cycle with negative real rates. There are a few variables at play – not least incoming economic and inflation data – but it is not unreasonable to …

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Italian drugs cartels conceal payments via Chinese shadow banks

By Emilio Parodi MILAN (Reuters) – Drugs cartels operating in Italy are increasingly using shadow networks of unlicensed Chinese money brokers to conceal cross-border payments, according to Italian judicial and law enforcement authorities. The development highlights how an issue that U.S. authorities have been battling in connection to Latin American narcotics groups has taken root …

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Airbus to open new China assembly line, gets plane order nod

By Michel Rose, Sophie Yu and Tim Hepher BEIJING/PARIS (Reuters) -Europe’s Airbus moved to double capacity in China and strengthen access to the world’s second-largest aviation market by agreeing on Thursday to build a second Chinese assembly line, as domestic travel returns to pre-pandemic levels. The world’s largest planemaker, which has overtaken Boeing as a …

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