The presidents of Ukraine and Poland gathered for a church service on Sunday to commemorate an event from 80 years ago that’s among those central to the Polish consciousness — the Volhynia massacre.
The European Central Bank is nearly finished raising interest rates, but will then keep them at a “high plateau” to ensure they fully impact the economy, Governing Council member Francois Villeroy de Galhau said.
Bank of England Governor Andrew Bailey rejected the need for an inflation target higher than 2%, warning that changing the goal could damage the bank’s credibility and “unpick expectations.”
Credit Suisse’s largest shareholder, the Saudi National Bank, wanted to raise its stake to 40% ahead of the Swiss bank’s collapse in March, Swiss newspaper Blick reported.
Commercial International Bank SAE, Egypt’s largest private bank, secured $250 million in loans from the World Bank’s International Finance Corporation to support its capital and fund green projects.
The question that everyone’s asking: how much higher can interest rates go?
Just months after he was tapped to oversee Ukraine’s arms industry, Oleksandr Kamyshin says it produced more mortar and artillery shells in June than it made in all of last year.
Saudi Arabia’s decision to extend its oil production cuts — part of a largely unsuccessful bid to raise prices — may trigger an economic contraction in what was the Group of 20’s fastest-growing country last year.
For decades since they were privatized, the UK’s public service providers have favored inflation-linked bonds as a cheap and easily-accessible means of financing. That’s now coming back to bite as borrowing costs surge to a 16-year high, potentially putting the government back on the hook to clean up the mess.
Israel says Hezbollah, an Iranian-backed militia in southern Lebanon, has set up more than two dozen military outposts along the countries’ border in violation of international agreements, a development it says risks increasing confrontation.
