Bulgaria To Provide Military Aid To Ukraine

Bulgaria, once labeled the “sixteenth republic” of the Soviet empire for its obedient allegiance to Moscow, should send military aid to Ukraine, the parliament decided Thursday.

US Home Sales Fall for Eighth Straight Month

U.S. existing home sales dropped for an eighth straight month in September as surging mortgage rates and still-elevated selling prices push affordability beyond the reach of many prospective buyers.

Egypt to take over development of Gaza’s off-shore gas field

There are plans in the making for Egypt to take over the development of Gaza’s offshore natural gas field, a move that would stimulate the weak Palestinian economy, i24 News reports. The Gaza Marine field is believed to hold over 1 trillion cubic feet of natural gas, well over what is needed to supply Palestinian territories, and could therefore be a potentially lucrative source of export.

Mortgage Interest Rates Rise To Highest Level Since 2006

The average interest rate on the most popular U.S. home loan rose to its highest level since 2006 as the housing sector continued to bear the brunt of tightening financial conditions, data from the Mortgage Bankers Association (MBA) showed on Wednesday.

IMF: “worst is yet to come” in global economy

The International Monetary Fund (IMF) has forecast the “worst is yet to come” economically as it predicts a third of the global economy will contract in 2023, facing two consecutive quarters of negative growth, Sky News reports. The IMF made its predictions in its latest World Economic Outlook report.

Iran state TV hacked with anti-government ‘blood on your hands’ message

Iranian state TV was hacked Saturday night as its main news program suddenly transitioned to a photo of Supreme Leader Khamenei with the words “The Blood of Our Youths Is on Your Hands” along with images of Mahsa Amini, who died in custody last month after being arrested by Tehran’s hijab police, and three teenage girls killed in the subsequent nationwide uprisings, Iran International reports.

OPEC+ announces major cut in global oil supplies

OPEC+ has announced a significant cut in global oil supplies ahead of European Union embargoes on Russia energy and in time for the peak winter season, Reuters reports. Exacerbating concerns about soaring inflation, the move is expected to push up the price of gasoline again.

British Pound Plunges To Record Lows

The British pound plunged to an all-time low against the U.S. dollar Monday as investors ran for the exits after the new government’s fiscal plan threatened to stretch Britain’s finances to their limits.

US national debt climbs to almost $31 trillion

The US record-breaking national debt is now almost $31 trillion, Fox Business reports. The last US national debt milestone was in February 2020, when it exceeded a record $30 trillion for the first time.

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