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☆ More countries are openly flaunting their ties with Putin. They say it's just business.
▼ + stars: | 2024-09-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewRussian President Vladimir Putin is having a very social year as his country continues to wage war in Ukraine. So far, Putin has met top leaders from Asian countries including China, India, Vietnam, and Indonesia. Russia is the BRICS chair this year, and Putin has invited Mongolia to join the group's summit in October. Russia's push for a multipolar world order resonates with countries who desire a more equitable international order.

Persons: —, Vladimir Putin, Putin, Sean McFate, McFate, Anwar Ibrahim, Ukhnaagiin Khürelsükh, couldn't, Russia —, Serik, Li Qiang's, Syracuse University's McFate, it's, Derek Grossman, Grossman Organizations: Service, Syracuse University Maxwell School of Citizenship, Public Affairs, Business, Malaysian, Criminal, ICC, World Bank, European Union, NATO, Bloomberg, Moscow, Central, European, EU, United Nations, RAND, Foreign Locations: Ukraine, China, India, Vietnam, Indonesia, Russia, North Korea, Iran, Mongolia, Mongolian, Russia's, European, Sri Lanka, Turkey, Kazakhstan, Central Asian, European Union, Moscow, Beijing, Europe, Syracuse, Brazil, South Africa, Malaysia, Switzerland, United States

☆ The controversial plan to regreen a desert
▼ + stars: | 2024-09-08 | by ( Laura Paddison | ) edition.cnn.com time to read: +11 min

The Dutch engineer wants to transform a huge stretch of inhospitable desert into green, fertile land teeming with wildlife. “The only holistic way out of this situation is with large-scale ecological regeneration”So-called desert regreening projects are not new, and this is one of a number around the world seeking to transform arid landscapes. Costfoto/NurPhoto/Getty ImagesFor van der Hoeven, it was further proof his plan could work. “The scale reaches a level that helps prove that restoration can be done on a planetary scale.”It would add to other huge desert regreening projects also underway. The project was scheduled to kick off this December, but conflict has slowed everything down, van der Hoeven said.

Persons: der Hoeven, “, Van, van der Hoeven, Ali Moustafa, ”, Van der, der, it’s, John Liu, Wolfgang Kaehler, Liu, ” Liu, Susan Gardner, Gardner, Alice Hughes, ” Hughes, Raymond Pierrehumbert, Pierrehumbert, — “, Van der Heoven, He’s, Van der Hoeven Organizations: CNN, United Nations, World Bank, UN, Hong Kong University’s School of Biological Sciences, University of Oxford Locations: Dutch, Africa, Asia, Maryland, Dubai, Lake Bardawil, Sinai, Bardawil, Egypt, China, California, Gansu Province, Yongjing, Gansu province, Nairobi, Hong, Gaza

☆ Water shortages are likely brewing future wars — with several flashpoints across the globe
▼ + stars: | 2024-09-05 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

The Stockholm International Water Institute (SIWI), a non-profit with expertise in water governance, has said that even amid a possible rise in social conflicts and violence, "water can be a bridge to peaceful negotiations rather than a trigger or weapon of war." The severity of the global water crisis has been further underlined by an alarming rise in the number of security incidents. Egypt-Ethiopia tensionsVillanova University's Galgano identified nine international river basins as flashpoints in which conflict is either already taking place or the potential for armed conflict is high. These included the Nile Basin in Africa, the Tigris-Euphrates River Basins of southwestern Asia and the Helmand and Harirud Rivers along the border of Afghanistan and Iran. Major international river basins in conflict.

Persons: Hamed, Francis Galgano, You've, you've, Galgano, Idrees Mohammed, Villanova University's Galgano, Harirud Rivers, GERD, They've, Recep Tayyip Erdogan, Hussein Faleh Organizations: Afp, Getty, Villanova University in, CNBC, Department, Environment, Villanova University, Stockholm International Water Institute, World Resources Institute, Bharatiya Janata Party, BJP, Control, Villanova Locations: Lake Urmia, Iran, Villanova University in Pennsylvania, transboundary, Stockholm, Bengaluru, Mexico's, Tehran, India, Egypt, Ethiopia, Africa, Asia, Helmand, Harirud, Afghanistan, Turkey, Syria, Iraq, Iraq's, Basra

☆ Brazil's top court orders nationwide suspension of Elon Musk's X
▼ + stars: | 2024-08-30 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Brazil's supreme court on Friday ordered a nationwide suspension of Elon Musk's social network X after the company vowed to defy earlier court orders concerning content moderation and the appointment of a legal representative in the country. Hours later, the court issued a second order suspending some of the measures in its first 51-page order against X. A suspension of X in Brazil could cause business problems for Musk's already embattled company. Musk has repeatedly denounced de Moraes' court orders as censorship. In its Thursday statement, X said de Moraes court had taken "illegal actions" against the company.

Persons: Elon, Alexandre de Moraes, de Moraes, Moraes, Musk, Starlink, De Moraes, X, Voldemort Organizations: Globo, Apple, Google, Twitter, World Bank, CBS, Starlink, Musk's SpaceX, U.S, Brazil weren't Locations: Brazil, NATO, U.S

☆ The next shoe to drop in FX markets will reshuffle currency values in an unexpected way. Here's how TD Securities is trading it.
▼ + stars: | 2024-08-24 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

Cooling global growth, continued geopolitical risks, and uncertainty around US election outcomes mean it could be a choppy ride for the next few months. But if US economic data stabilizes while global growth slows, as Bharadwaj expects, European currencies could be set for a violent snapback. "I do think that global growth right now is not holding up from our data trackers. "And in fact, we actually track global growth upgrades versus downgrades. And after a very long time, global growth downgrades are outpacing global growth upgrades, which indicates to me that even the global growth is not as rosy as markets are currently pricing it to be."

Persons: Jayati Bharadwaj, it's, Bharadwaj, you've Organizations: Service, TD Securities, Business, International Monetary Fund, Federal Reserve, Securities Locations: China, Europe, India

☆ DuPont's AI ties drew us in, but its water unit may be the sleeper hit
▼ + stars: | 2024-08-09 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

DuPont's water business DuPont is considered a leader in purification and specialty-separation technologies that generates cleaner water for industries, governments, and communities. Arun Viswanathan, analyst at RBC Capital Markets, characterizes Dupont's water business' next-generation products as being "at the top of the technology pyramid." Dupont's water business is the smallest of the three companies that will be created by the breakup. As this exercise shows, DuPont's water business as a standalone firm would certainly deserve that compared to some. Potential M & A It's possible DuPont's water business never makes it to standalone status.

Persons: we've, Jim Cramer, It's, Lori Koch, it's, Aleksey Yefremov, Arun Viswanathan, Viswanathan, Dupont, RBC's Viswanathan, DuPont, KeyBank's Yefremov, EBITDA, Pentair, Veralto, Yefremov, They'll, they'll, —, Koch, Ed Breen, Jim Cramer's, Jim, Jeff Fusco Organizations: DuPont, CNBC, JPMorgan, Bank, Barclays, RBC Capital Markets Locations: China, North America, Asia, East, Africa, America, Yefremov, Wilmington , Delaware

☆ In Xi’s China, Politics Eventually Catches Up With Everyone
▼ + stars: | 2024-08-02 | by ( Li Yuan | ) www.nytimes.com time to read: +1 min

In 1996, when Peter Hessler taught at a small college in Sichuan Province, 90 percent of his students came from villages. Mr. Hessler, 5 feet 9 inches, towered over them by about half a head. Mr. Hessler returned to China in 2019 to teach at Sichuan University-Pittsburgh Institute. This time, all his nonfiction writing students came from cities, and some of the women in his class were even taller than him. But the political system that defined society had not changed one bit, Mr. Hessler writes in his new book, “Other Rivers: A Chinese Education.”

Persons: Peter Hessler, Hessler, ” Organizations: Chicago Bulls, Sichuan University, Pittsburgh Institute, World Bank Locations: Sichuan Province, China

☆ CNBC's Inside India newsletter: Can India's hot deal-making season extend to a free trade agreement?
▼ + stars: | 2024-08-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Customers browse the S1 Pro electric scooter of Ola Electric Mobility Pvt. SoftBank -backed Ola Electric is set to raise nearly three quarters of a billion dollars with a stock market listing. India and four European nations — Iceland, Liechtenstein, Norway and Switzerland — struck a free trade agreement (FTA) earlier this year. "Our Free Trade Agreement negotiations is the floor not the ceiling of our ambitions to unlock our shared potential and deliver growth, from Bengaluru to Birmingham," Lammy said last week before his visit. India and the U.K. also have high rankings on the World Bank's Trade Complementarity Index, which indicates whether countries are natural trade partners.

Persons: Ola, Samyukta Lakshmi, Bharat, Switzerland —, David Lammy, Lammy, Chietigj Bajpaee, Narendra Modi's, Aastha Gudwani, Murugesh Organizations: Ola Electric Mobility, Ola Experience, Ola, Bloomberg, Getty, Mankind, Vaccines, South, House, India, Indian, Bank of America's, NYSE Locations: Bengaluru, India, Iceland, Liechtenstein, Norway, Switzerland, New Delhi, Birmingham, South Asia, Bank of America's India, Singapore, Japan

☆ African cities sitting on ‘keg of gunpowder’ as growing youth anger fuels unrest
▼ + stars: | 2024-07-30 | by ( Nimi Princewill | Stephanie Busari | ) edition.cnn.com time to read: +9 min

Military and police personnel arrest protesters during the anti-corruption protest in the Ugandan capital, Kampala, on July 23, 2024. Those protesting are angry about widespread government corruption in the country, which loses an estimated Sh. 10 trillion ($2.7 billion) in public funding to graft annually, according to Ugandan anti-corruption body the Inspectorate of Government (IG). In the preceding months, Ghana, Senegal’s fellow West African state, saw days of anti-government protests as demonstrators railed against economic hardships and unemployment. “All over Africa, we are… sitting on a keg of gunpowder,” he said in a recent interview with CNN affiliate Citizen TV.

Persons: Z –, William Ruto, Fabz, Anita Annet, Yoweri Museveni, Inibehe Effiong, ”, Bola Tinubu, Edward Buba, ” Mugano, Mamadou Thior, ” Thior, Thior, Macky Sall, Sall backtracked, Bassirou Diomaye Faye, Olusegun Obasanjo, There’s, … unempowered, Obasanjo Organizations: CNN, Military, Xinhua, Security, of Government, World Bank, South Africa’s Durban University of Technology, ”, Citizen TV Locations: Kenya, East, Kampala, Uganda, Ugandan, United States, United Kingdom, Nigeria, West, Africa, West Africa, Senegal, Ghana

☆ How Venezuela’s election could upend the geopolitics of the Americas
▼ + stars: | 2024-07-23 | by ( Stefano Pozzebon | ) edition.cnn.com time to read: +6 min

Caracas CNN —It would be easy to dismiss this Sunday’s presidential election in Venezuela as a fait accompli. The opposition campaign has re-energized its bases, and the candidature of Edmundo González has attracted widespread support in Venezuela and abroad. A chance to rebuild Venezuela’s economic power“On the ballot is how long it’ll take to fix Venezuela’s economy,” said Asdrubal Oliveros, founder of Caracas firm Ecoanalitica, in his weekly podcast on July 8. Once the fifth-largest economy in Latin America, today Venezuela’s economy has shrunk to the equivalent of a medium-sized city, smaller than say, Milwaukee, according to data from the IMF. As Venezuela’s economy has crumbled, around eight million Venezuelans have already fled their country, many of them scattered across South America.

Persons: Nicolas Maduro, ”, –, Laboratorio de Paz, Edmundo González, Asdrubal Oliveros, Andres, Maduro, Edmundo Gonzalez, Maria Corina Machado, Gabriela Oraa, Gonzalez, Consultores, Putin, Xi Jinping, who’s, “, Donald Trump Organizations: Caracas CNN —, Laboratorio, IMF, Andres Bello Catholic University, Central University of Venezuela, of American, World Bank, Inter, American Development Bank, Supreme, CNN Locations: Caracas, Venezuela, Ecoanalitica, Latin America, Milwaukee, AFP, United States, Americas, South America, Venezuelan, America, China, Iran, Russia, Miami, Cuba, Maduro, of American States, Mercosur, Algiers, Brussels, Buenos Aires, Spanish, Washington, Brexit, neofascism, Europe, India, Turkey, Philippines

☆ Bangladesh protests: Anger over job quotas escalates into deadly violence. Here’s what you need to know
▼ + stars: | 2024-07-19 | by ( Helen Regan | Samra Zulfaqar | ) edition.cnn.com time to read: +9 min

CNN —Huge protests across Bangladesh escalated into deadly violence this week with clashes between students, pro-government supporters and armed police fueling widespread anger over civil service job quotas opponents say are discriminatory. Many Bangladeshi students are demanding an end to the government’s quota system, which reserves more than half of civil service posts for certain groups. In 2018, the quota system was scrapped following similar protests but in June the High Court reinstated it, ruling its removal was unconstitutional. Critics and protesters say the quota system creates a two-tier Bangladesh where a politically connected elite benefit by their birth. “This is not just about quota protests anymore, this is much bigger than that, in simple quota protests the government wouldn’t go around hurting and shooting students.

Persons: Sheikh Hasina, Hasina, Sheikh Mujibur Rahman, Hasina’s, “, ”, Maruf Khan, Stringer, Tahmeed Hossain, –, Hossain, Munir Uz Zaman, Hassan Abdullah, Abdullah, Prothom Alo, ” Hasina, Salman, ” Hossain, Antonio Guterres, Stephane Dujarric, ” Dujarric Organizations: CNN, Bangladesh Television, Mobile, Awami League, Getty, Bank, Dhaka University, Bangladesh Chatra League, Rapid Action Battalion, Wednesday, Agence France, Press, Authorities, Student, State Department, ” UN Locations: Bangladesh, Dhaka, State, Pakistan, Australia, Sydney, “, AFP, United States, ”, New, Melbourne, Copenhagen

☆ Africa is doubling down on its space ambitions
▼ + stars: | 2024-07-17 | by ( Amy Gunia | ) edition.cnn.com time to read: +8 min

“It was really giving me a hard time in my mind.”Now Ouattara is helping to lead Africa into space. Early this year, Ouattara became the first president of the African Space Council, which oversees the newly inaugurated African Space Agency (AfSA). VCG/Getty ImagesAfrica’s space industry could be worth $22.6 billion by 2026, up from $19.5 billion in 2021, according to the consultancy Space in Africa. Better data from Earth observation could unlock more than $2 billion in value for Africa, according to a 2021 report by the World Economic Forum. More than 20 countries now have national space programs, and African nations budgeted more than $400 million for the sector in 2024, according to Space in Africa.

Persons: Tidiane Ouattara, ”, “, Ouattara, Temidayo Oniosun, Aloyce, Deche, Andrew Nyawade, Simon Maina, that’s, “ It’s, Oniosun, ” Oniosun, ” Ouattara Organizations: CNN, Moon, African Union Commission, African Space Council, Space Agency, ”, World Economic, World Bank Group, Kenya Space Agency, University of Nairobi, Getty, African Development Bank, European Space Agency Locations: Ivory Coast , West Africa, stargaze, Canada, Africa, Ivory Coast, Inner Mongolia Autonomous Region, China, Egypt, Cairo, ” Africa, South Africa, Ghana, Kenya, Bulgaria, AFP, ”

☆ China: A spate of stabbings has sparked online debate about country’s economic woes
▼ + stars: | 2024-07-17 | by ( Jessie Yeung | ) edition.cnn.com time to read: +8 min

But China has been rocked by a number of high-profile stabbing cases in recent decades, including multiple such attacks at schools. These worries were clear on Chinese social media after the latest attacks, with several commentators connecting China’s dire economic circumstances to the violence, even as the attackers’ motives remained unclear. Rare violent crimeTwo of the most high-profile recent attacks came in June – and both targeted foreign nationals. Video Ad Feedback Four Americans are stabbed in a shock attack in China 04:20 - Source: CNNUltra-nationalism has risen across China and Chinese social media in recent years, as has anti-American and anti-Japanese sentiment. On social media, the belief that economic insecurity is making the country less safe remains palpable.

Persons: “, haven’t, China –, Michelle Miao, ”, Mao Ning, Adam Zabner, David Zabner, Adam, Stabbings, Miao, CUHK Organizations: Hong Kong CNN, Chinese University of Hong, Stanford University’s Center, Behavioral Sciences, CNN, Ministry of Public Security, World Bank, United Nations Office, Drugs, Americas, Xinhua, Youth Locations: Hong Kong, China, Guangxi, Weibo, ”, Chinese University of Hong Kong, –, Iowa, Beishan Park, Jilin, Asia

Villagers watch the sunset over a small lagoon near the village of Tangintebu on South Tarawa in the central Pacific island nation of Kiribati May 25, 2013. CHINESE INTEREST AS WESTERN BANKS EXIT"The proposed World Bank project is a creative way of addressing the challenge of de-risking and small scale in Pacific Island countries," said Lalita Moorty, the World Bank's East Asia and Pacific director for prosperity. Without access to overseas banks, Pacific countries would struggle to receive remittances - a key component of their economies - welcome holidaymakers or trade with the wider world. "It can create instability for the financial system," said Denton Rarawa, senior economics adviser at the Pacific Islands Forum. "What we're saying is that if you're not going to address concerns and issues we have, Pacific countries will start looking elsewhere for support."

Persons: David Gray, Solomon, Lalita Moorty, Denton Rarawa, Mark Brown, Janet Yellen, Ariff Ali, Lewis Jackson, Lucy Craymer, Ziyi Tang, William Mallard Organizations: REUTERS, Villagers, WELLINGTON, Bank, U.S, Pacific Islands, World Bank, Pacific, ANZ Bank, Westpac, Bendigo Bank, Bank of China, Reuters, Cook, U.S . Treasury, Federal Reserve, Reserve Bank of Fiji, Thomson Locations: Tangintebu, South, Pacific, Kiribati, SYDNEY, Australia, China, Washington, Nauru, Solomon Islands, Taiwan, Beijing, U.S, East Asia, Papua New Guinea, Vanuatu, Tonga, Samoa, Brisbane, Pacific Islands, Sydney, Wellington

☆ Gen Z might have missed out on their chance to get rich through homeownership
▼ + stars: | 2024-07-13 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +6 min

Read previewHomeownership is helping some millennials get rich — but Gen Zers might have a hard time following in their footsteps. Some Gen Zers managed to get in on the fun — about a quarter of Gen Zers between the ages of 19 and 26 owned a home as of 2023, per Redfin. AdvertisementWhat's more, Silk said there's a larger reason Gen Zers shouldn't count on homeownership to boost their wealth. AdvertisementThese costs are already putting pressure on current homeowners, and by the time more Gen Zers buy homes, they could be even more burdensome. Their monthly payment is gone forever, and it has zero chance of providing an investment return.

Persons: —, Zers, millennials, Gen Zers, Roger Silk, Silk, hasn't, It's, it's Organizations: Service, Federal Reserve, Business, World Bank

☆ China gears up for next week's Third Plenum meeting. Here's why real estate isn't likely the main focus
▼ + stars: | 2024-07-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

Bloomberg | Bloomberg | Getty ImagesBEIJING — China's real estate problems may be massive, but analysts expect the upcoming Third Plenum to focus on other areas — such as high local government debt levels and a push for advanced manufacturing. "For real estate markets, I don't think it should be a focus of the plenum, because it's already [in a] state that everyone has a consensus [on]," Wang said. watch nowIn his view, excessive growth of the financial sector was behind the hollowing out of the U.S. industrial sector. "Consequently we must constrain the financial industry, including real estate. That's the underlying reason for tightened regulations on both real estate and finance."

Persons: Larry Hu, Hu, Xi Jinping, Deng Xiaoping's, Dan Wang, She'll, it's, Wang, hasn't, Yao Yang, Yao, Goldman Sachs Organizations: Chinese Communist Party, Bloomberg, Getty, BEIJING, Communist Party of, Macquarie, CNBC, Central Committee, Communist Party, Party, President, Hang Seng Bank, HSBC, HSBC It's, Committee, China Center for Economic Research, Peking University, U.S, China Morning Post, Financial Regulatory Administration, World Bank, Big Data Locations: Communist Party of China, Beijing, China, United States, Big Data China

☆ Why hurricane-stricken Jamaica can't tap into $150 million of natural-disaster insurance
▼ + stars: | 2024-07-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Jamaica can't tap into catastrophe-bond funds despite Hurricane Beryl's devastation. With climate change on the rise, cat bonds have grown into a hotter investment. But in this case, investors in the country's $150 million asset won't have to pay a dime, the outlet said. The structure of the cat bonds was such that they paid investors 7% above the US Treasury rate. Climate disasters are not always strong enough to trigger cat bond payouts, an expert told Business Insider in October.

Persons: —, That's Organizations: Service, Bloomberg, Investments, Treasury, World Bank, Swiss Re Locations: Jamaica, Switzerland

☆ War-driven economy is so hot, Russia is now a 'high-income' country
▼ + stars: | 2024-07-03 | by ( Lilian Manansala | ) www.businessinsider.com time to read: 1 min

Since launching its war on Ukraine, Russia has seen a boost in its GDP large enough that the World Bank reclassified Russia from an upper-middle-income to a high-income country. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account?

Organizations: World Bank, Business Locations: Ukraine, Russia

☆ Russia's war-driven economy is so hot that the World Bank upgraded it to a 'high-income country'
▼ + stars: | 2024-07-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Russia's economy, boosted by military activity, is now classified as high-income by the World Bank. The World Bank also upgraded Bulgaria and Palau, while the West Bank and Gaza were downgraded. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussia's economy has defied sanctions in the two years since Moscow invaded Ukraine in February 2022 — so much so that the World Bank is now classifying Russia as a "high-income country." On Monday, the World Bank announced it has upgraded Russia from an upper-middle-income country to a high-income country, according to a report from the financial institution's economists.

Persons: — Organizations: World Bank, Bank, West Bank, Service, Business Locations: Bulgaria, Palau, Gaza, Moscow, Ukraine, Russia

☆ Opinion: Ukraine’s new weapon against Russia? Lego
▼ + stars: | 2024-06-29 | by ( Opinion Roy Schwartz | ) edition.cnn.com time to read: +7 min

Pictured in Lego miniature is Kyiv’s Golden Gate, released as part of United24's second wave of Ukrainian monument replicas. The inspiration for a Lego campaign came from these initiatives and from Lego Architecture, an adult-oriented line of sets recreating iconic landmarks. The second wave, #UKRAINEinLEGObricks, released last month, includes Kyiv’s Golden Gate, Crimea’s Khan Palace, Lviv’s Oblast’s Pidhirtsi Castle, Odesa’s National Academic Opera and Mykolaiv’s Astronomical Observatory. Mykolaiv’s Astronomical Observatory is featured in Lego's second wave of monument recreations. UNITED24All models are made from authentic Lego bricks, though the Lego company isn’t affiliated with the project nor the artists building the sets.

Persons: Roy Schwartz, Volodymyr Zelensky, Yaroslava Gres, Gres, United24, isn’t, Brick, Mark Segedie, ”, ” Eric Law, he’d, “, Law, ” Gres, there’ll Organizations: Twitter, Facebook, CNN, Russia, Deloitte, US, Council, Foreign Relations, World Bank, Lego Foundation, Lego Architecture, Opera, raffles, Velykokostromska Locations: royschwartz.com, Germany, Poland, Ukraine, Russia, Ukrainian, Chicago, Khan, Dnipropetrovsk Oblast, American, Tacoma

☆ Kenya president backs down on tax rises after deadly protests
▼ + stars: | 2024-06-26 | by ( ) www.cnbc.com time to read: +3 min

Kenya's president on Wednesday withdrew planned tax rises, bowing to pressure from protesters who had stormed parliament, launched demonstrations across the country and threatened more action this week. "Listening keenly to the people of Kenya who have said loudly that they want nothing to do with this finance bill 2024, I concede. And therefore, I will not sign the 2024 finance bill, and it shall subsequently be withdrawn," he said in a televised address. Thousands took to the streets of Nairobi and several other cities during two days of protests last week as an online movement gathered momentum. Protests in Kenya have usually been called by political leaders who can be amenable to negotiated settlements.

Persons: William Ruto, Ruto, Ruto's, Lawmakers Organizations: Wednesday, Kenyan, IMF, The Nation, Kenya Medical, Medical, Protesters, State, World Bank, International Monetary Fund Locations: Kenya, Eldoret, Nairobi

☆ Bangladesh floods: Nearly 2 million people stranded as devastating floods hit northeast
▼ + stars: | 2024-06-22 | by ( Helen Regan | ) edition.cnn.com time to read: +6 min

CNN —Extensive flooding has stranded about 1.8 million people in northeast Bangladesh, following weeks of heavy rains that have submerged homes and devastated farmland, according to state media and humanitarian agencies. There is concern for those trapped by floodwaters who now face food shortages and a lack of clean water, according to local media. A mother holds her son in front of her house in floodwater on June 20, 2024 in Sylhet, Bangladesh. Salahuddin Paulash/Drik/Getty ImagesDensely populated and low-lying Bangladesh is prone to seasonal rains, flooding and cyclones. People move their belongings through a flooded street in Sylhet, Bangladesh, on June 20, 2024.

Persons: Bangladesh Sangbad, Sunamganj, ” Sheldon Yett, Salahuddin Paulash, ”, Sultana Begum, ” Hasan Sarwar, Syed Mahamudur Rahman Organizations: CNN, Bangladesh, Bangladesh Sangbad Sangstha, Water Development, Villagers, United Nations, Children’s Fund, UNICEF, UNICEF Representative, World Bank, Remal, Bangladesh’s Ministry of Disaster Management, Bangladesh Water Development Locations: Bangladesh, Sylhet, India, floodwater, Asia, Myanmar, Cox’s Bazar, Assam

☆ IMF chief says Europe looks like 'an ideas supermarket' for the U.S., calls for further integration
▼ + stars: | 2024-06-20 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Kristalina Georgieva, chief executive officer of the World Bank Group, arrives to a briefing at the annual meetings of the International Monetary Fund (IMF) and World Bank in Washington, DC, US, on Friday, April 19, 2024. Speaking to CNBC's Karen Tso, IMF Managing Director Kristalina Georgieva said Europe's economic performance was strengthening and inflation was clearly on a downward trajectory. One, to achieve the full potential of the single market. Right now, Europe looks like an ideas supermarket for the United States," Georgieva said. [It is] 27 countries not yet integrated in a single market."

Persons: Kristalina Georgieva, Karen Tso, Georgieva Organizations: World Bank Group, International Monetary Fund, Bank, IMF, European Central Bank Locations: Washington , DC, Europe, United States

A simple principle underpins a contentious Thursday decision by the U.S. and key allies to tap profits from Russian sovereign assets in support of Ukraine: Moscow must make reparations. Questions have also been raised over the legality of setting such a precedent: Russia has been cut off from its frozen assets, but retains their ownership. The proposal must now pass various legal hurdles and be backed by European states, where the majority of frozen Russian assets are held. Further loans secured against the interest accrued by Russian frozen assets could be forthcoming, U.S. Treasury Secretary Janet Yellen signaled on Thursday. The annual summit comes as most of the G7 leaders face their own domestic upheavals including national elections and falling approval ratings.

Persons: Charles Michel, CNBC's Steve Sedgwick, Joe Biden, Volodymyr Zelenskyy, Putin, we're, Biden, Michel, Janet Yellen, Yellen, We're, Russia's, Ursula von der Leyen, Georgia Meloni Organizations: U.S, West, . Security, Kyiv, Treasury, Bank, European Commission Locations: Ukraine, Moscow, Russia, Russian, Canada, France, Germany, Italy, Japan . U.S, Kuwait, U.S, Borgo Egnazia, Puglia

☆ Live Updates: U.S. to Sign 10-Year Pact With Ukraine as G7 Leaders Meet
▼ + stars: | 2024-06-13 | by ( David E. Sanger | Steven Erlanger | ) www.nytimes.com time to read: +8 min

Mr. Biden and Mr. Zelensky will meet on Thursday and sign a security agreement, said Jake Sullivan, Mr. Biden’s national security adviser. Mr. Biden faces the hurdle of convincing his allies, starting with Mr. Zelensky, that the United States plans to stay in the fight with Ukraine, no matter what happens in November. Mr. Biden told Mr. Zelensky last week, in France, that “I apologize for the weeks of not knowing what was going to pass,” and put the onus on Republicans in Congress. During a trip to Normandy last week, Mr. Biden appeared to have persuaded France, one of the last holdouts, to support the deal. “The administration has been quick to get aid to Ukraine once Congress moved, and that’s to its credit,” he said.

Persons: Biden, Volodymyr Zelensky, Mr, Zelensky, Jake Sullivan, “, ” Mr, Sullivan, we’ll, ”, Vladimir Putin, Pope Francis, Donald J, Trump, Rishi Sunak, Emmanuel Macron, Biden’s, Vladimir V, Putin, Claudia Greco, John E . Herbst, Evelyn Farkas, Barack Obama, Ms, Farkas, ” Alan Rappeport Organizations: Ukraine, U.S, Kremlin, Group, Air Force, “, hobble, NATO, Mr, Reuters, European, World Bank, Eurasia Center, Atlantic Council, United, McCain Institute, Arizona State University Locations: Ukraine, United States, Italy, Israel, Russia, hobble Russia, Europe, France, Congress, Savelletri, Normandy, Belgium’s, U.S, Eurasia

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