The European Central Bank said Thursday that it will speed up ending its economic stimulus programs to combat record inflation, even as concerns mount about the impact of Russia's war in Ukraine on economic growth.
The bank said it will end its bond purchases in the third quarter but could modify that schedule if the inflation outlook changes. Previously, it said it would taper them off to 20 billion euros per month by the last three months of the year and continue them as long as needed.
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The growth of Israel's West Bank settler population accelerated last year, according to figures released by a pro-settler group on Thursday, despite renewed American pressure to rein in construction on occupied territory that the Palestinians want for a future state.
The figures show that a settlement surge initiated when President Donald Trump was in office shows no sign of slowing down. Trump provided unprecedented support for Israel's claims to land seized in war, reversing decades of U.S. policy.
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China is easing government exchange rate controls to let the Russian ruble fall faster in value against the Chinese yuan to help insulate Beijing from economic sanctions on Moscow.
The margin by which the ruble is allowed to fluctuate against the yuan in state-controlled daily trading will be doubled in size to 10% above or below the day's opening price starting Friday, the China Foreign Exchange Trade System announced.
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Western sanctions are dealing a severe blow to Russia's economy. The ruble is plunging, foreign businesses are fleeing and sharply higher prices are in the offing. Familiar products may disappear from stores, and middle-class achievements like foreign vacations are in doubt.
Beyond the short-term pain, Russia's economy will likely see a deepening of the stagnation that started to set in long before the invasion of Ukraine.
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South Korea's president-elect Yoon Suk Yeol said Thursday he would solidify an alliance with the United States, build up a powerful military and sternly cope with North Korean provocations, hours after he won the country's hard-fought election to become its next leader.
Yoon, whose single five-year term is to begin in May, said during his campaigning he would make a boosted alliance with the United States the center of his foreign policy. He's accused outgoing liberal President Moon Jae-in of tilting toward Pyongyang and Beijing and away from Washington. He's also stressed the need to recognize the strategic importance of repairing ties with Tokyo despite recent bilateral historical disputes.
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More countries are shifting toward a return to normal and learning to live with the virus. Safe, effective vaccines have been developed and there's better understanding of how to treat people sickened by the virus.
Two years after the pandemic began, questions remain about the coronavirus. But experts know a lot more about how to keep it under control.
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Pressure is building on the Biden administration to begin unwinding sanctions on Venezuela after President Nicolas Maduro freed two American prisoners and promised to resume negotiations with his opponents.
Maduro's goodwill gesture came during a weekend trip to Caracas by senior White House and State Department officials that caught off guard Maduro's friends and foes alike.
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German fashion brand Hugo Boss and U.S. hotel chain Hilton are the latest brands to pause their Russian businesses over the Ukraine invasion.
Hugo Boss said Thursday that it has temporarily closed its stores and suspended its own retail and e-commerce business activities in Russia. The company said it will give all affected employees “financial and operational support.”
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Lionel Messi stood frozen, stunned in the Santiago Bernabéu.
His right hand was on his hip. His left hand was holding his head. His eyes were closed.
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An airstrike on a hospital in the port city of Mariupol killed three people, including a child, the city council said Thursday, as Russian forces intensified their siege of Ukrainian cities.
The attack in the southern port city wounded women waiting to give birth and doctors and buried children in the rubble. Bombs also fell on two hospitals in another city west of the capital.
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