Hungary Hosts Religious Jews Fleeing Ukraine
Hungary will host hundreds of religious Jewish refugees from Ukraine who require kosher food, a rabbi says.
Economy
US producer prices soar 10.8% in May as energy costs spike
U.S. producer prices surged 10.8% in May from a year earlier, underscoring the ongoing threat to the economy from inflation that shows no sign of slowing.
Fed likely to boost interest rates by three-quarters of a point this week
Markets are beginning to anticipate an even faster pace of interest rate hikes, and Federal Reserve officials apparently are contemplating the possibility as well.
Strange Military Deaths In Iran As Tensions Rise
Iran has announced the deaths of two military aerospace workers, the latest in a series of mysterious deaths in the strict Islamic nation underscoring mounting internal turmoil.
Biden administration raises amount of ethanol that must be blended with gas
The Biden administration on Friday set new requirements that increase the amount of ethanol that must be blended into the nation’s gasoline supply but reduce previous ethanol-blending requirements due to a plunge in fuel demand during the coronavirus pandemic.
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.”
Nigeria: 31 people die in stampede for free food at church event
Thirty-one people, including numerous children, were killed Saturday during a stampede at a church’s free food event in Nigeria’s River state, the Associated Press reports.
Kenyan Wins Restaurant Award For Feeding 40,000 Children
The woman overseeing tens of thousands of nutritious meals for school children in Kenya has won The World’s 50 Best Restaurants Icon Award 2022, Worthy News learned Tuesday.
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.
Fed government revises first-quarter GDP, contraction worse than originally estimated
The Commerce Department has revised its first-quarter real gross domestic estimate to show the U.S. economy contracted at an annualized rate of 1.5%, compared to its original estimate in late April of 1.4%.
Hungary In State Of Emergency Over Ukraine War
Hungary’s hardline prime minister said his government had assumed emergency powers Tuesday in response to the war in Ukraine after his allies amended the constitution.
Top Russian Diplomat Quits Over War In Ukraine
A top Russian diplomat resigned Monday to protest against Moscow’s “aggressive war” in Ukraine despite concerns about his safety.
US, G7 Pledge Billions To Ukraine As Battles Rage
As battles raged, the U.S. Senate approved nearly $40 billion in aid for Ukraine, sending the bill to the White House for President Joe Biden to sign.
Sen. Rand Paul Blocks $40B for Ukraine: ‘We Cannot Save Ukraine by Dooming the U.S. Economy’
“My oath of office is to the U.S. Constitution, not to any foreign nation,” Sen. Rand Paul (R-Ky.) said in a speech on the Senate floor Thursday, as some of his fellow Republicans urged immediate passage of a bill — this one totaling $40 billion — to fund U.S. assistance for the situation in Ukraine.
Inflation surges higher-than-expected 8.3% in April, near 40-year record
Inflation surged a higher-than-expected 8.3% in April, staying near its steepest level in decades as the Federal Reserve scrambles to cool the economy with a series of rate hikes that have rattled investors.
Son Dictator Philippines Wins Election
Nearly four decades after the ouster of their dictator, Filipinos chose his son and namesake to lead the Philippines as its next president, official results showed.
Hungary Refuses To Join Oil Embargo; EU Chief Returns Empty-Handed
The European Union’s chief executive left Budapest empty-handed Monday after failing to convince Hungary to agree on an EU oil embargo against Russia.
Hungary Opposes EU Sanctions Against Patriarch Kirill
Hungary said Sunday it would not support European Union plans to freeze the assets of Patriarch Kiril, head of the Russian Orthodox Church.