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The Latest Breaking News from International Monetary Fund

'Cold War II' could wipe trillions from global economy, IMF says

The group says $7 trillion worth of GDP could be lost to a new Cold War, undoing progress since the fall of the Soviet Union.

Fortune

Russia-Ukraine war: Biden and Zelenskiy hold press conference after US president announces $200m extra Ukraine aid - as it happened

Biden opens with remarks praising Zelenskiy for ‘enormous victory already’ over Putin; US president also announces additional aid to Ukraine

The Guardian - AU

Russia-Ukraine war: List of key events, day 657

As the war enters its 657th day, these are the main developments.

Al Jazeera

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Russia-Ukraine war at a glance: what we know on day 657

Volodymyr Zelenskiy visits Washington, saying delays to future military aid are ‘dreams come true’ for Vladimir Putin; Russian opposition leader Alexei Navalny missing

The Guardian - AU

World economy on brink of ‘cold war two’, IMF official warns

Gita Gopinath says global economy’s fragmentation into power blocs risks wipeout of trillions of dollars in GDP

The Guardian - UK

Calibrating a strategy for India’s future growth

India’s future growth strategy needs to be calibrated in view of the changing global conditions

The Hindu

Egypt election: Is President el-Sisi poised to win a third term?

Household finances are severely squeezed but with no clear opponent, incumbent is favourite to win upcoming election.

Al Jazeera

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Sri Lanka experiences a temporary power outage after a main transmission line fails

Sri Lanka's power and energy ministry says the country experienced an island-wide power outage for several hours after a system failure in one of the main transmission lines

The Independent UK

Bearish or Bullish: Deciphering the 3 Best China Stocks for December

China, the world’s second-largest economy, exhibited resilience even in the face of several macroeconomic challenges. In this context, should investors invest in the shares of Chinese stocks: Alibaba Group (BABA), Weibo Corp (WB), and Autohome Inc. (ATHM)? Read on….

StockNews.com

Asian Development Bank approves a $200M loan to debt-stricken Sri Lanka

The Asian Development Bank says it approved $200-million concessional loan to debt-stricken Sri Lanka to help stabilize the country’s finance sector

The Independent UK

Here’s what Trump 2.0 will bring: ignorance and vengeance in the US, chaos for world order

He must be defeated but not by adopting his toxic agenda, says former UK prime minister Gordon Brown

The Guardian - UK

Carbon pricing would raise trillions needed to tackle climate crisis, says IMF

Traditionally unpopular carbon taxes could be achieved with regulatory compliance, IMF head tells Cop 28

The Guardian - UK

Argentina Will Not Join BRICS Under Milei, As Libertarian Prepares To Take Office

Argentina's President-elect is expected to withdraw Argentina from a planned expansion of the non-western economic alliance.

International Business Times

32 of Tom Cruise's greatest movie moments

The undisputed action legend boasts an incredible decades-spanning career

Total Film

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Cinemablend

Did Paris Die In Dead Reckoning? See Mission: Impossible's Pom Klementieff In Action On The Set Of 8

Mission: Impossible 8 is on the way, and it looks like we’ll be seeing more of Pom Klementieff’s Paris following her debut in Dead Reckoning.

France 24

Climate finance takes spotlight at COP28

Money pledges were in the spotlight at COP28 in Dubai on Monday as delegates turned their focus to the yawning gap in how much climate finance is needed and what's on tap, particularly for developing countries that need funds each year just to adapt to the warming world.

International Business Times

IMF To Revise Regional Outlook Over Israel-Hamas Conflict

The IMF announced Friday that it will revise its economic outlook for the Middle East and North Africa region due to the ongoing Israel-Hamas conflict.

International Business Times UK

Bank of England Warns of Potential Market Correction Amidst Economic Uncertainties

The House of Lords Economic Affairs Committee released a report that critiques the Bank of England's scope of operation amidst the current cost of living crisis.

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The Independent UK

Sri Lanka says it struck a deal with creditors on debt restructuring to clear way for IMF funds

Sri Lanka says it has reached an agreement in principle with a group of creditors including India and Japan on debt restructuring

WEKU

Climate funding is in short supply. So some want to rework the financial system

Efforts to boost climate financing have moved beyond national pledges. Now the focus is on overhauling organizations like the World Bank and providing countries debt relief.

International Business Times

Milei Heads To US As Next Argentine Leader

Argentina's president-elect Javier Milei was traveling Sunday to the United States to meet with US and international officials over two days.

StockNews.com

Are These 3 China Stocks Buying Opportunity?

China's economy is staged for significant growth, buoyed by robust GDP growth, elevated forecasts, and proactive government measures to spur recovery. Amid this, could Chinese stocks New Oriental Education & Technology (EDU), JD.com (JD) and FinVolution (FINV) make ideal buys? Let's find out.

Space

James Webb Space Telescope sees major star factory near the Milky Way's black hole (image)

The JWST has imaged an intense region of star-formation near the black hole at the center of the Milky Way, making findings that could be key to understanding the earliest galaxies.

The Guardian - UK

Does Javier Milei’s dollarisation plan for Argentina make any economic sense?

President-elect’s idea is a gamble that is likely to crash an economy paying the price for mistakes of his predecessor

The Guardian - UK

The right is babbling about tax cuts while Britain burns. Pay no heed, Jeremy Hunt

Investment, investment, investment must be the chancellor’s mantra. Instead, he is being urged to give away billions to those least in need

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