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☆ Sri Lanka parliament approves domestic debt restructuring plan
▼ + stars: | 2023-07-01 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

COLOMBO, July 1 (Reuters) - Sri Lanka's parliament approved a domestic debt restructuring plan on Saturday that is crucial to continue a $2.9 billion bailout from the International Monetary Fund (IMF). To put its debt on a sustainable footing and pass an IMF review, Sri Lanka unveiled a much-anticipated domestic debt restructuring framework last Thursday that seeks to rework part of the island nation's $42 billion domestic debt. "This debt restructuring plan is essential for Sri Lanka to meet the target set by the IMF agreement to reduce debt from the current 128% of GDP to 95% of GDP by 2023," State Minister of Finance Shehan Semasinghe told parliament. Implementing the domestic debt plan is also crucial to push forward negotiations with bondholders and key bilateral creditors China, Japan and India. Sri Lanka aims to finalise debt restructuring talks by September.

Persons: Finance Shehan Semasinghe, Sajith Premadasa, Shivangi Acharya, Andrew Cawthorne Organizations: International Monetary Fund, Sri, Finance, Thomson Locations: COLOMBO, Sri Lanka, China, Japan, India, New Delhi

☆ Sri Lanka targets 30% haircut for international, domestic dollar bonds
▼ + stars: | 2023-06-29 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +5 min

The government also aims to rework its foreign debt with bondholders and bilateral creditors including China, Japan and India. Under the domestic debt revamp, holders of locally issued dollar-denominated bonds, such as Sri Lanka Development Bonds (SLDBs), will be given three options, Weerasinghe said. "We are asking foreign debt holders for a 30% haircut but that is still under discussion," Weerasinghe said. "Sri Lanka is under enormous pressure to restructure as quickly as possible and get its economy back on track, they need funds to import a lot of goods to reinvigorate their key tourism industry," Lutz Roehmeyer, fund manager at Capitulum Asset Management, who holds Sri Lanka international bonds. "A 30% haircut is too little given the shape the country's economy is in."

Persons: Nandalal Weerasinghe, Gotabaya Rajapaksa, Weerasinghe, Lutz Roehmeyer, Uditha Jayasinghe, Rosario, Karin Strohecker, Shilpa Jamkhandikar, Himani Sarkar, Kim Coghill, Simon Cameron, Moore, Toby Chopra Organizations: Saturday International, International Monetary Fund, IMF, Sri Lanka Development, Capitulum Asset Management, Sri Lanka, World Bank, Sri, Jorgelina, Thomson Locations: COLOMBO, Sri Lanka, Britain, China, Japan, India, United States

☆ China will continue to support Sri Lanka in debt restructuring, Sri Lanka minister says
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina will continue to support Sri Lanka in debt restructuring, Sri Lanka minister saysAli Sabry, Sri Lanka's foreign affairs minister, says conversations between China and Sri Lanka have been "very, very fruitful" and cordial.

Persons: Ali Sabry Organizations: China, Sri Locations: Sri Lanka, China

June 27 (Reuters) - Reka, an AI model startup founded by former researchers from Alphabet's DeepMind (GOOGL.O), has raised $50 million in a fresh round of funding from investors including Yuri Milner's DST Global and Snowflake (SNOW.N), the companies told Reuters. Reka focuses on building large and specialized AI models for enterprise customers. Snowflake, which invested in the company, also announced a partnership to allow users to run third-party model providers like Reka within their Snowflake account. The partnerships came as Snowflake competitor Databricks acquired AI model training company MosacicML in a $1.3 billion deal on Monday. Yogatama said Reka differentiated by building both large models and proprietary model distillation technology to downsize models for specific use cases.

Persons: Alphabet's, Yuri Milner's, Christian Kleinerman, Databricks, Dani Yogatama, Yogatama, Rob Toews, Krystal Hu, Mark Potter Organizations: Yuri Milner's DST, Reuters, Nvidia, Radical Ventures, Thomson Locations: Reka, Toronto

☆ As downturn fears grow, Bank of America names 8 global stocks to ride out a recession
▼ + stars: | 2023-06-26 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Bank of America has named the European companies whose stocks are expected to perform robustly in the face of a possible economic downturn. It comes amid increasing signs that the European economy could be headed for a period of extended recession. Bank of America's proprietary Style Cycle model also shows that the region is facing a "recession phase." The forward cash yield measures how much cash a company is expected to generate for its shareholders over the next year compared to its current market price. The cash yield also includes returns through buybacks.

Persons: Intesa Sanpaolo, Paulina Strzelinska Organizations: of America, of, KBC, Eni, Nordea Bank, Barclays, Aviva, BNP, Bank, America's Locations: Europe, Belgium, Italy, Finland, Repsol, Spain, United Kingdom, France, buybacks, industrials

☆ Sri Lanka set to start tea-for-oil barter with Iran next month
▼ + stars: | 2023-06-23 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

COLOMBO, June 23 (Reuters) - Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves. "This is very timely for us because we get access to an important market and both Iran and Sri Lanka can trade without relying on dollars," Sri Lanka's Tea Board Chairman Niraj de Mel told Reuters. "The agreement was to send $5 million worth of tea each month for 48 months but we plan to start with about $2 million per month." Globally popular Ceylon Tea is Sri Lanka's highest foreign exchange-earning crop, brewing $1.25 billion for the cash-strapped country last year, according to government data. Iran has been one of Sri Lanka's main tea buyers but exports have fallen steadily from $128 million in 2018 to $70 million last year as U.S. sanctions on Iran hit trade.

Persons: Niraj de Mel, riyals, de Mel, Uditha, Krishna N, Das, Peter Graff Organizations: Sri, Reuters, Tea, United Arab Emirates, Ceylon Petroleum Corp, Tea Board, National Iranian Oil Company, International Monetary Fund, Thomson Locations: COLOMBO, Sri Lanka, Iran, Ceylon, Sri Lanka's, Lanka's, UAE, Lankan

WHAT IS THE COMMON FRAMEWORK? The Common Framework requires debtor countries to secure restructuring assurances from any bilateral lenders first and commercial and multilateral lenders second - to Beijing's dismay. "We call on multilateral financial institutions and commercial lenders, who are the main creditors for developing countries, to participate in developing countries' debt relief efforts," Mao said. In Paris, analysts expect China to continue to voice support for the Common Framework but for debt relief to be dispensed "case-by-case". The last time global policymakers met to discuss the Common Framework in Washington, China proposed the IMF should speed up and improve information sharing on debt sustainability analyses.

Persons: Li Qiang, acceding, Yi Gang, Mao Ning, Mao, Qin Gang, Sri, Wang Wenbin, Joe Cash, Ryan Woo, Shri Navaratnam Organizations: Paris Club, International Monetary Fund, Bank, IMF, World Bank, Foreign Ministry, China's, France, Thomson Locations: Paris, China, Zambia, Chad, Ethiopia, Ghana, United States, U.S, Beijing, Washington, CHINA, Addis Ababa, Japan, India, France, Sri Lanka's

☆ A YouTuber says he built a hybrid, diesel-powered Tesla with more than 1,000 miles of range — but it's ridiculously loud
▼ + stars: | 2023-06-22 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

A YouTuber says he created a Tesla hybrid that has more than 1,000 miles of range. YouTuber Warped Perception's hybrid Tesla. YouTuber Warped Perception's hybrid Tesla. All told, the Tesla hybrid got around 35 miles to the gallon, according to Mikka's calculations. Mikka told Insider he spent years conceptualizing the design.

Persons: Matt Mikka, Mikka, Tesla, he's Organizations: Environmental Protection Agency

☆ Exclusive: World Bank set to approve $700 mln for Sri Lanka next week -sources
▼ + stars: | 2023-06-19 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

The International Monetary Fund approved a bailout of nearly $3 billion in March, which Sri Lanka expects will bring additional funding of up to $4 billion from the World Bank, the Asian Development Bank and other multilateral agencies. Of the proposed World Bank funding, $500 million will be for budgetary support and is likely to come in two tranches of $250 million each, one of the sources, from the World Bank, said. All four sources, from the World Bank and the Sri Lankan finance ministry, sought anonymity as they were not authorised to talk to the media. "Households that have registered for support will be ranked ... and the lowest 2 million will be eligible for support," the source added. The World Bank and the finance ministry did not immediately respond to requests for comment.

Persons: Read, Uditha Jayasinghe, Krishna N Organizations: Bank, Sri, Reuters, Monetary Fund, World Bank, Asian Development Bank, IMF, Thomson Locations: Colombo, Sri Lanka, COLOMBO, Sri Lankan

☆ Sri Lanka's economy shrinks 11.5% in first quarter as financial crisis continues
▼ + stars: | 2023-06-15 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

COLOMBO, June 15 (Reuters) - Sri Lanka's economy (LKGDP=ECI) shrank 11.5% in the first three months of 2023, official data showed on Thursday, as the country remained in the grip of its worst financial crisis in decades. Sri Lanka's central bank projects that GDP will shrink by 2% this year while the International Monetary Fund (IMF) estimates a contraction of 3%. "A pickup in private sector credit will be a growth positive and credit growth will increase over the next six to nine months," Cooray added. Sri Lanka's economy contracted by a record 7.8% last year after its foreign exchange reserves hit record lows, plunging the island into the worst financial crisis since it gained Independence from the British in 1948. But Sri Lanka still needs to complete debt restructuring talks by September in time for the first IMF review.

Persons: ”, Shehan Cooray, Cooray, Uditha, John Stonestreet, Susan Fenton Organizations: Statistics Department, Sri, International Monetary Fund, Thomson Locations: COLOMBO, Sri Lanka's, Sri, Sri Lanka

☆ 10 Things in Tech: Startups face mass extinction
▼ + stars: | 2023-06-13 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +4 min

Startups are facing a "Mass Extinction Event" — and most people can't even see it. That's according to Tom Loverro, a general partner at IVP, who said: "The Mass Extinction Event for startups is underway." In our full analysis, we dive even deeper into this "Mass Extinction Event," including signs that can be gleaned from the fates of WeWork, Zume, and Plastiq. Investors shut out of traditional funding rounds are finding another way to snap up shares in buzzy AI startups. In an email to Twitter employees, Linda Yaccarino said it's her mission to turn Twitter into "the world's most accurate real-time information source."

Persons: Hallam Bullock, Alistair Barr, Melia Russell, Tom Loverro, Loverro, spigot, Jeff Bezos, Elon Musk Pascal Le Segretain, Michael M, Elon, Bezos, Andreessen Horowitz, Read, they're, Steve Jobs, Linda Yaccarino, it's, Matt Mikka's, YouTuber, we've, Shona Ghosh Organizations: London . Venture, Getty, Venture, Tech, Twitter, Tesla Locations: London, San Francisco

☆ Sri Lanka extends freeze on outward capital transactions by 6 months
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: 1 min

COLOMBO, June 13 (Reuters) - Sri Lanka's government has decided to extend a restriction on outward capital transactions by six months due to pressure on its limited foreign exchange reserves, cabinet spokesperson Bandula Gunawardena said on Tuesday. The decision will be revisited after debt talks are finalised in September, added Gunawardena, who is also the transport minister of the island country. Reporting by Uditha Jayasinghe; writing by Sudipto ganguly; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Bandula Gunawardena, Uditha Jayasinghe, Sudipto ganguly, Kim Coghill Organizations: Thomson Locations: COLOMBO

☆ IKEA bets on remote interior design as AI changes sales strategy
▼ + stars: | 2023-06-13 | by ( Helen Reid | ) www.reuters.com time to read: +3 min

LONDON, June 13 (Reuters) - IKEA is training call centre workers to become interior design advisers as the Swedish furniture giant aims to offer more home improvement services and hand run-of-the-mill customer queries to an artificial intelligence bot called Billie. In April, IKEA expanded its interior design services to the UK and United States, after previous launches in parts of Europe, Australia, the United Arab Emirates and elsewhere. In the UK, customers pay 25 pounds ($31.44) for a 45-60 minute interior design advice video call and suggested product list, and can pay 125 pounds for three workspace design consultations, a floorplan and 3D visuals. Sales by phone or video of products and services through Ingka's remote interior design channel accounted for 1.3 billion euros ($1.40 billion) of revenue in Ingka's 2022 financial year - 3.3% of the total. These virtual services require significant investment, she said, to ensure items' colours, textures and sizes are accurately reflected and to minimise returns.

Persons: Billie, IKEA's Billy bookcase, We're, Ulrika Biesert, Biesert, Wayfair, It's, Jocelyn Paulley, Helen Reid, Susan Fenton Organizations: IKEA, United Arab, Ingka Group, Reuters, Ingka, Gowling, Thomson Locations: Swedish, United States, Europe, Australia, United Arab Emirates, Ingka, headcount, London

☆ Kherson's unending nightmare: Occupation, shelling and floods
▼ + stars: | 2023-06-11 | by ( Max Hunder | ) www.reuters.com time to read: +6 min

Maybe it's the same with tragedy," said 52-year-old Radetska, who is deputy head of a school in the southern Ukrainian city. Pupils include 31 on the Russian-held east bank that was particularly badly hit by the floods, including the town of Oleshky. The past week's events have been a fresh tragedy for Radetska and Remyha, who both recounted threats, imprisonment and torture during Russia's occupation. He said the hospital's staff took risks to give illicit assistance to local Ukrainian soldiers left in the city after the occupation. Russia's FSB did not immediately respond when asked to comment on to the allegations made by Remyha and Radetska.

Persons: Iryna Radetska, Leonid Remyha, Remyha, Remya, Radetska, hasn't, that's, Max Hunder, Mike Collett, White, Frances Kerry Organizations: Russian, Reuters, Thomson Locations: Kherson, Moscow, KHERSON, Ukraine, Ukrainian, Russia, Dnipro, Kyiv, Oleshky, Radetska, LIBERATION, Kherson region, Russian

☆ Train review: What it’s like to ride the Venice Simplon-Orient-Express
▼ + stars: | 2023-06-09 | by ( Chris Dwyer | ) www.cnbc.com time to read: +5 min

That's according to Matthieu Ollier, manager of the Venice Simplon-Orient-Express, who said the train's Grand Suites cost 24,000 euros ($25,850) for a one-night trip from Venice to London. A train steward on the Venice Simplon-Orient-Express. The ensuite bathroom in the Venice Simplon-Orient-Express' Budapest Suite. The bar car on board the Venice Simplon-Orient-Express. Source: Venice Simplon-Orient-Express

Persons: Matthieu Ollier, Willy Wonka's, Chris Dwyer, Ollier, John Travolta, Angelina Jolie, Kate Winslet, Wes Anderson, Agatha Christie's, Christie, Champagne —, Austria's Brenner, Chef Jean Imbert, Jean Imbert, —, serenaded Organizations: Orient, Express, Orient Express, Athénée, Venice Locations: Venice, London, Belmond, United States, Paris, Bucharest, Munich, Istanbul, —, Budapest, Murano, Tsar, Austria's, Switzerland, France

☆ A YouTuber put a gas generator in his Tesla to avoid plugging in on an 1,800-mile road trip
▼ + stars: | 2023-06-07 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

A YouTuber wanted to take long road trips in his Tesla without having to stop and plug in. His mission: Take a 1,800-mile road trip around the Midwest without stopping to plug in. "I really like my Tesla, but what I don't like is stopping to charge, especially on a road trip. The modifications eliminated the environmental and cost-saving benefits of owning an electric car. "I believe with version 2 I will be approaching the perfect car overall and definitely the ultimate road trip car," he said.

Persons: Matt Mikka, YouTuber, Matt Mikka's, that's, he'd, Tesla, Biden, Mikka Organizations: Morning, Environmental Protection Agency

☆ Russia's McDonald's replacement says it's serving 2 million customers a day, but diners are divided on whether it's as good as the original
▼ + stars: | 2023-06-07 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Russia's McDonald's replacement, Vkusno & tochka, opened a year ago. The chain can't sell iconic McDonald's items like the Big Mac and has created substitutes instead. Its CEO told Reuters that it has sold more than 24 million "Big Hits," its Big Mac dupe, since opening. Paroev previously said that Vkusno & yochka sold 120,000 burgers on its opening day, which he said was higher than any other day in McDonald's Russia's history. Have you been to Vkusno & tochka?

Persons: Russia's, —, Alexander Govor, tochka, hasn't, Oleg Paroev, Paroev, yochka, Tian Bing, tochka hadn't, tochka's, Ronald McDonald Organizations: Reuters, Service, Mac, China News Service, Getty Locations: Ukraine, Russian, Russia, Moscow

☆ Sri Lanka to remain on policy loosening course, next rate cut likely in August -analysts
▼ + stars: | 2023-06-02 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +3 min

Sri Lanka plunged into crisis last year as its foreign exchange reserves ran out, food and energy prices spiralled and protesting mobs forced the ouster of the country's then president. "With no inflation risk the central bank will cut rates aggresssively to push demand and target growth." The CBSL expects Sri Lanka's GDP to contract by 2% in 2023, slightly better than the 3% contraction predicted by the IMF. Five analysts backed CBSL and IMF estimates, two said Sri Lanka would perform better and one projected a steeper contraction of 4.8%. []Sri Lanka will begin rolling back import restrictions on 300-400 items from next week, as per a statement from the finance ministry which gave no further details.

Persons: CBSL, Dimantha Mathew, Kenji Okamura, Uditha Jayasinghe, Devayani, Swati Bhat, Toby Chopra Organizations: Sri, Citi Bank economists, International Monetary Fund, First, IMF, Thomson Locations: COLOMBO, Lanka's, Sri Lanka's, Sri Lanka, Colombo

[1/2] Staff members work at a packing section at a garment factory in Colombo after the International Monetary Fund's executive board approved a $3 billion bailout for Sri Lanka. The Central Bank of Sri Lanka (CBSL) cut its standing deposit facility rate and standing lending facility rate to 13% and 14%, respectively, from 15.5% and 16.5% previously. The central bank raised rates by a record 950 basis points last year to tame inflation and by 100 bps on March 3 this year. "There is a need to bring the interest rates down because the cost of government financing is high," said Udeeshan Jonas, chief strategist at equity research firm CAL. Sri Lanka secured a $2.9 billion bailout from the IMF in March and aims to complete restructuring debt talks by September, coinciding with the first review by the lender.

Persons: Dinuka, Udeeshan Jonas, Uditha Jayasinghe, Swati Bhat, Shri Navaratnam, Raju Gopalakrishnan Organizations: Staff, Monetary Fund's, Sri, REUTERS, Central Bank of Sri, Colombo, Monetary Fund, Reuters, CAL, Thomson Locations: Colombo, Sri Lanka, Lanka's, Central Bank of Sri Lanka

☆ Sabalenka, Djokovic hoping to steer clear of controversy
▼ + stars: | 2023-06-01 | by ( Aadi Nair | ) www.reuters.com time to read: +3 min

Another match featuring political overtones is the clash between Ukraine's Elina Svitolina and Russia's Anna Blinkova. Asked about the message following his straight sets win over Marton Fucsovics on Wednesday, Djokovic told reporters: "It's something that I stand for. Greek fifth seed Stefanos Tsitsipas, who reached the final in 2021, will play Diego Schwartzman. British 14th seed Cameron Norrie is in action against 17th seed Lorenzo Musetti, who now leads Italy's charge for a first French Open men's winner since Adriano Panatta in 1976 after Jannik Sinner's elimination on Thursday. Reporting by Aadi Nair in Nashik, India; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

Persons: Roland Garros, Iryna Shymanovich, Benoit Tessier, Sabalenka, Novak Djokovic, Ukraine's Marta Kostyuk, Ukraine's Elina Svitolina, Anna Blinkova, Svitolina, Djokovic, Alejandro Davidovich Fokina, Aleksandar Kovacevic, Marton Fucsovics, Davidovich Fokina, Monte, Monte Carlo Masters, Carlos Alcaraz, Denis Shapovalov, Stefanos Tsitsipas, Diego Schwartzman, Cameron Norrie, Lorenzo Musetti, Adriano Panatta, Jannik, Aadi Nair, Ken Ferris Organizations: Belarus, Iryna Shymanovich REUTERS, Strasbourg, NATO, Marton, Monte Carlo, U.S, Thomson Locations: Paris, France, Belarus, Ukraine, Belarusian, Kosovo, Serbia, Belgrade, Zvecan, Spanish, Barcelona, British, Nashik, India

☆ Sri Lanka c.bank to hold rates as inflation stays high
▼ + stars: | 2023-05-30 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

COLOMBO, May 30 (Reuters) - Sri Lanka's central bank is expected to keep rates unchanged at its policy meeting this week as it continues to support the debt-laden economy amid persistently high inflation. Sri Lanka secured a $2.9 billion bailout from the International Monetary Fund (IMF) in March and aims to complete restructuring debt talks by September. Thirteen out of the fifteen analysts and economists polled by Reuters expect the Central Bank of Sri Lanka (CBSL) to hold benchmark rates steady on Thursday, at its fourth policy rate announcement this year. The central bank raised rates by a record 950 basis points last year to tame inflation and by 100 bps on March 3. The first review of its IMF programme is expected in September and Sri Lanka plans for it to coincide with the completion of debt restructuring talks with creditors.

Belarus is being used as a key staging ground for Russia's war in Ukraine, which Moscow terms a "special operation". When asked if she was ready to be number one, she smiled and said: "Yes, I think so. Unlike the other three, Tsitsipas has yet to win a Grand Slam and he begins his campaign against Czech Republic's Jiri Vesely. "It's all about getting into the mindset of the Roland Garros final that I had here (in 2021)," he said. I just need to get a few good first matches to keep believing that I actually can do something this year."

☆ Call her Ivanka Kushner
▼ + stars: | 2023-05-27 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

Ivanka Trump has been steadily distancing herself from her father's brand since he left office. A former adviser in the Trump White House, Ivanka now says she's done with politics. Despite the rebrand, Ivanka remains in legal trouble for her role in Trump businesses. Beyond public appearances or showings of political support, Ivanka's distance from the rest of the Trump family has also begun to show itself legally. They've got a lot going on over in the Kushner clan, and she has her kids and her family.

☆ 6 protesters were arrested after some threw tampons on the floor while the Nebraska legislature voted to restrict gender-affirming care and abortion
▼ + stars: | 2023-05-20 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

Police in Nebraska said they arrested six protesters at the state capitol in Lincoln on Friday. The Nebraska state legislature passed the Let Them Grow Act, which is expected to become law. A press release from the Nebraska State Patrol said officers noticed the group on the balcony of the state legislature when the protesters started yelling around 2:40 pm. —Nebraska State Patrol (@NEStatePatrol) May 20, 2023The Nebraska State Patrol did not immediately return Insider's request for further comment on Saturday. Nebraska passed Legislative Bill 574 on Friday, which limits abortion and gender-affirming health care.

☆ Nebraska lawmakers pass restrictions on abortion, transgender medical care
▼ + stars: | 2023-05-19 | by ( Brad Brooks | ) www.reuters.com time to read: +2 min

May 19 (Reuters) - Nebraska lawmakers on Friday passed a bill that limits abortion and puts restrictions on gender-affirming medical care for transgender youth in a single piece of legislation that strikes at two highly divisive issues. It includes exceptions for medical emergencies when the mother's life is at risk, and in cases of rape or incest. The same bill also bans "gender-altering surgery" and places restrictions on hormone therapy and puberty-blocking drugs for transgender people under 19. Abortion and gender-affirming medical treatment for transgender youth are at the heart of the so-called culture war raging in American politics, with Republican-dominated legislatures across the country banning or putting sharp restrictions on both. Supporters of the bill said it was a means of protecting unborn babies from abortion and teenagers from undergoing irreversible medical procedures they may later regret.

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