World may enter new global recession says IMF

The International Monetary Fund (IMF) on Tuesday attested that the world is in danger of falling into another global recession, the Times of Israel (TOI) reports. The IMF gave its grim view in its latest World Economic Outlook (WEO), amid surging inflation and severe economic slowdowns in the US, the Euro zone, and China.

As NATO Grows, China and Russia Seek to Bring Iran, Saudi Arabia Into Fold

In the East, however, security and economy-focused blocs led by Beijing and Moscow are looking to take on new members of their own, including Iran and Saudi Arabia, two influential Middle Eastern rivals whose interest in shoring up cooperation on this new front could have a significant impact on global geopolitical balance.

Hungary Hit By Worst Social Unrest Since Elections (Worthy News In-Depth)

Tense protests continued in Hungary’s capital till the early hours of Thursday after the government announced “an energy emergency” and effectively raised taxes for hundreds of thousands of small entrepreneurs as the nation’s currency plunged to record lows while inflation reached the highest levels in decades.

EU Cancels Sanctions Against Russian Patriarch

The European Union canceled plans to impose sanctions against Russian Orthodox Church leader Patriarch Kirill after Hungary threatened to veto the bloc’s latest round of measures against Russia for its invasion of Ukraine.

Germany Train Crash Kills 4, Injures Dozens

German Chancellor Olaf Scholz has expressed shock after at least four people were killed and 30 more were injured Friday when a regional passenger train derailed in Bavaria’s alpine southern German state. He said his “sympathy was with families of the victims.”

Israel, UAE ink ‘groundbreaking’ free trade deal, in 1st with Arab state

Israel and the United Arab Emirates signed a comprehensive, “groundbreaking” free trade agreement on Tuesday in a bid to boost economic ties between the two countries, as trade hit about $2.5 billion in the less than two years since the US-brokered Abraham Accords were inked, according to recent estimates.

EU Agrees To Block Most But Not All Russian Oil

European Union leaders say they will block most Russian oil imports by the end of 2022 to punish Moscow for invading Ukraine. But the EU embargo will only affect oil that arrives by sea following opposition from Hungary.

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