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Rate hikes: a double-edged sword for central banks
Rate hikes: a double-edged sword for central banks
Business and Economy
by  AFP

Central banks worldwide are using aggressive interest rate hikes to lasso galloping inflation, at the risk of pulling down the global economy with it. Central banks have since raised hikes in an almost synchronised way, raising concerns that their late and aggressive reactions could now do more harm than good.

Ukraine conflict may hike long-term grain prices 7%: study
Ukraine conflict may hike long-term grain prices 7%: study
Business and Economy
by  AFP

Russia's invasion of Ukraine may cause long-term grain prices to rise seven percent, according to a study on Monday showing how expanded production elsewhere to compensate would lead to higher greenhouse gas emissions. Figures from the UN's Food and Agriculture Organization show food prices are currently more than 10 percent higher than they were a year ago.

Lebanon currency hits new low, sparking protests
Lebanon currency hits new low, sparking protests
Business and Economy
by  AFP

The Lebanese pound fell to a new low against the US dollar on the black market Monday as a severe economic downturn has sparked bank hold-ups by angry depositors and anti-government protests. For decades, the Lebanese pound was pegged at 1,507 to the dollar, meaning that it has lost around 95 percent of its black market value since 2019.