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Tanzania's government canceled Independence Day celebrations amid ongoing protests over the October election, which opposition and rights groups say led to hundreds of deaths. Authorities have detained activists and supporters, imposed internet blackouts, and warned against planned protests, raising concerns over human rights and political repression.
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Recent data shows shifts in global trade patterns due to US tariffs and China's export growth. The US trade deficit shrank slightly in November, while China’s trade surplus hit a record high, despite ongoing tariffs and trade tensions. Countries are diversifying markets and rerouting shipments amid these tensions.
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Cyclone Ditwah, Sri Lanka's deadliest since 2004, killed 635 people, damaged infrastructure, and devastated key crops like tea and rice. The disaster has caused an estimated $6-7 billion in damages, worsening the country's economic crisis amid international aid shortages.
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The IMF reached staff-level agreements with Egypt, Ghana, and Jordan on their latest review milestones, unlocking billions in disbursements. Egypt's support includes an $8 billion loan, Ghana's about $385 million, and Jordan's roughly $240 million, reflecting ongoing reforms and economic stabilization efforts.
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Lebanon's divided parliament has approved a draft law aimed at addressing a $70 billion financial crisis. The law, which requires cabinet approval, proposes shared losses among the state, banks, and depositors, and includes measures for accountability and bank recapitalization. It is a key step toward economic recovery amid ongoing political challenges.
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Pakistan's government has sold a 75% stake in Pakistan International Airlines (PIA) to the Arif Habib-led consortium for $482 million, fulfilling IMF demands for privatization. The deal aims to revive the airline, which has faced decades of financial decline and mismanagement, and includes plans for further stake acquisition.
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The IMF reached staff-level agreements with Egypt on the fifth and sixth reviews of its support program, potentially unlocking $2.5 billion. The fund also agreed on a review of Egypt's Resilience and Sustainability Facility, which could provide an additional $1.3 billion. These steps follow Egypt's economic reforms and efforts to reduce state control.
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Lebanon's government advances a draft law aimed at addressing its economic crisis by partially reimbursing depositors over four years and converting large deposits into bonds. The legislation seeks to restore depositor funds, increase transparency, and meet international reform conditions amid ongoing political and economic instability. The law now awaits parliamentary approval.
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Recent winter storms in California have caused severe flooding, mudslides, and road closures, especially in Santa Barbara and the Bay Area. Heavy rain, high tides, and thunderstorms have led to fatalities, airport closures, and widespread infrastructure damage amid ongoing heavy rainfall.
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As of January 2026, China reported a record $1.19 trillion trade surplus for 2025, driven by a 5.5% rise in exports to $3.77 trillion despite US tariffs. Chinese firms shifted focus to Southeast Asia, Africa, and Europe amid sluggish domestic demand and a moribund property market. EV exports doubled, with China surpassing Tesla as the top EV maker in 2025.
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Lebanese military reports the completion of the first phase of a plan to disarm Hezbollah and other non-state groups, asserting full sovereignty and control over borders, airports, and smuggling activities. The move follows recent conflict and economic crisis, with ongoing debates over security and reforms.
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New York City saw a net decline in business formation in Q2 2025, with more closures than startups, reflecting economic challenges post-pandemic and impacts from tariffs. The city’s labor market also slowed, raising concerns about future growth and recovery.
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The global economy remains resilient in 2026, with steady growth projected at 3.3%. Experts highlight private sector strength, AI investment, and strong institutions as key drivers, despite ongoing trade tensions, high debt levels, and inequality concerns. Policymakers warn against complacency.
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The Dubai-based Al Habtoor Group announced it will cease operations in Lebanon, citing ongoing instability, legal disputes, and losses exceeding $1.7 billion. The decision follows years of economic meltdown, conflict damage, and restrictions on access to funds, with legal action imminent amid deteriorating business conditions.
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Russian oil revenues have fallen to their lowest levels since the COVID-19 pandemic, due to US and EU sanctions, tariff pressures, and a crackdown on sanctions-dodging tankers. President Putin is borrowing and raising taxes to maintain finances, but economic strains persist amid slowing growth and inflation. The situation highlights the impact of Western sanctions on Russia's war economy.
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Sri Lanka's parliament passed a bill to stop pension payments to lawmakers who already receive or qualify for pensions, fulfilling President Dissanayake's campaign promise amid ongoing economic crisis. The move aims to reduce government spending as the country recovers from bankruptcy and debt restructuring.
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The IMF has approved about $2.3 billion in disbursements to Egypt after reviewing reforms that led to a broad economic recovery. Inflation has fallen, and GDP growth reached 4.4%, but progress on structural reforms remains uneven amid external pressures.