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The second installment of Sri Lanka’s bailout was delayed. The country hopes it’s coming in December

Published Sat, 22 Feb 2025 09:44:48 GMT

COLOMBO, Sri Lanka (AP) — The governor of Sri Lanka’s Central Bank said Friday he’s confident it will receive the second instalment of a $2.9-billion bailout package from the International Monetary Fund before the end of the year, after payment was delayed due to inadequate oversight and debt restructuring.“I am confident that we are making very good progress. We are moving in the right direction,” said Nandalal Weerasinghe.Sri Lanka plunged into economic crisis in 2022, suffering severe shortages and drawing strident protests that led to the ouster of then-President Gotabaya Rajapaksa. It declared bankruptcy in April 2022 with more than $83 billion in debt — more than half of it to foreign creditors. The IMF agreed in March to a $2.9-billion bailout package, releasing the first payment shortly thereafter.The IMF’s review in September said Sri Lanka’s economy was recovering, but it needed to improve its tax administration, eliminate exemptions and crack down ...

Ukraine aims a major drone attack at Crimea as Russia tries to capture a destroyed eastern city

Published Sat, 22 Feb 2025 09:44:48 GMT

KYIV, Ukraine (AP) — Ukraine launched one of the biggest drone attacks on the Moscow-annexed Crimean Peninsula since the full-scale war that started with Russia’s invasion 21 months ago, Russian officials said Friday.At the same time, Ukrainian officials reported that the Kremlin’s forces escalated their weekslong and costly attempt to storm Avdiivka, a strategically important city in eastern Ukraine.The stepped-up efforts came as both sides are keen to show they are not deadlocked as the fighting approaches 2024. Neither side has gained much ground despite a Ukrainian counteroffensive that began in June, and analysts predict the war will be a long one. With winter weather setting in, bringing snow and freezing temperatures to the battlefield, Ukraine and Russia are looking to take ground that could provide platforms for future advances.The Moscow-appointed governor for the Russian-occupied part of southern Ukraine’s Kherson region, Vladimir Saldo, said Ukraine launched ...

Vietnam’s plan for spending $15.5 billion for its clean energy transition to be announced at COP28

Published Sat, 22 Feb 2025 09:44:48 GMT

HANOI, Vietnam (AP) — A plan for how Vietnam will spend $15.5 billion to transition to cleaner energy has been finalized and will be announced at the COP28 climate conference, which begins in Dubai next week. Mark George, the climate counselor for the British Embassy in Hanoi, said that after months of coordination with key Vietnamese ministries to iron out details of how the money will be used, the final plan was finalized on Thursday. George gave no details of the plan. The United Kingdom is co-chair of a group of nine, rich industrialized nations that have agreed to provide the $15.5 billion to help Vietnam end its reliance on dirty coal power and more quickly switch to renewable energy as a part of a Just Energy Transition Partnership, or JETP. “That is a really important milestone,” said George. George was speaking at a panel discussion hosted by the UK-Vietnam Joint Economic and Trade Committee centered around opportunities for the two nations after Britain officially joined a...

From Dec. 1, citizens of five European countries and Malaysia can enter China without a visa

Published Sat, 22 Feb 2025 09:44:48 GMT

BEIJING (AP) — China announced Friday that it will allow visa-free entry for citizens of five European countries and Malaysia as it tries to encourage more people to visit for business and tourism.Starting Dec. 1, citizens of France, Germany, Italy, the Netherlands, Spain and Malaysia will be allowed to enter China for up to 15 days without a visa. The trial program will be in effect for one year.The aim is “to facilitate the high-quality development of Chinese and foreign personnel exchanges and high-level opening up to the outside world,” Foreign Ministry spokesperson Mao Ning said at a daily briefing.China’s strict pandemic measures, which included required quarantines for all arrivals, discouraged many people from visiting for nearly three years. The restrictions were lifted early this year, but international travel has yet to bounce back to pre-pandemic levels.China previously allowed citizens of Brunei, Japan and Singapore to enter without a visa but suspended that after...

Ireland’s prime minister condemns anti-immigrant protesters who rampaged through central Dublin

Published Sat, 22 Feb 2025 09:44:48 GMT

LONDON (AP) — Ireland’s prime minister on Friday condemned anti-immigrant protesters who rampaged through central Dublin after three young children were stabbed, saying the rioters simply wanted to cause chaos, not protect the country’s way of life.Police arrested 34 people overnight after up to 500 people looted shops, set fire to vehicles and threw rocks at crowd control officers equipped with helmets and shields. The violence began after rumors circulated that a foreign national was responsible for the attack outside a Dublin school on Thursday afternoon.Prime Minister Leo Varadkar said Ireland’s capital had endured two attacks — one on innocent children and the other on “our society and the rule of law.”“These criminals did not do what they did because they love Ireland, they did not do what they did because they wanted to protect Irish people, they did not do it out of any sense of patriotism, however warped,” Varadkar told reporters on Friday morning. “They did so because they...

Retailers hoping for economic boost this Black Friday

Published Sat, 22 Feb 2025 09:44:48 GMT

SHAUMBURG, Ill. -- Thursday may have been a day for giving thanks but for thousands, the day after is when shoppers dedicate to their holiday spending. Retailers are hoping for a holiday surprise in consumer spending this season, with economic forecasters wondering where sales will end up this year.Black Friday is usually the center piece of holiday shopping but not so much as more stores advertise deals earlier."Historically we think of Black Friday as a start, but most experts say it's the first of November. In the last few shopping years, it’s beginning earlier and earlier. However, Black Friday day after Thanksgiving is still the largest shopping day of the year," John Talbott from Indiana University Kelley School of Business said. Migrants celebrate first Thanksgiving in Chicago The National Retail Federation which tracks shopping trends, says consumers will spend more than $960 billion dollars in November and December -- more than 3 to 4 percent from 2022.It will also be the...

Small Business Saturday: Why and where to support local shops in St. Paul

Published Sat, 22 Feb 2025 09:44:48 GMT

Thanksgiving leftovers are in the fridge and extended family members are headed home, which means holiday shopping is about to kick into high gear this weekend with Small Business Saturday.Across the country small businesses are hosting events and offering up holiday savings to get community members to support local versus lining up outside big box stores, and St. Paul is no exception.Zsamé Morgan, owner of mobile bookstore Babycake’s Book Stack, said when you shop locally, you’re not only supporting the person and the family behind the store, you’re also supporting the community as a whole.“Small businesses often support other small and local businesses, so it creates an entire ecosystem,” Morgan said. “The money stays in the community longer when we support community businesses, which benefits everybody.”For those who prefer to do their shopping from the couch, Morgan assures, “Buying online isn’t bad.”Small businesses also benefit from online sales, Morgan said, adding that onlin...

AAA predicts busiest period in two decades, 4.7 million flyers expected

Published Sat, 22 Feb 2025 09:44:48 GMT

ST. LOUIS -- AAA predicts this Thanksgiving travel period will go down as the busiest in nearly two decades, with 4.7 million people flying this holiday weekend alone. But with so many flights canceled last holiday season, some people in our area said they're just fine with staying home.Kyle Newman brought his 6-year-old daughter Brooke to the Steinberg Ice Skating Rink in Forest Park Thursday after their Thanksgiving Day meal in Chesterfield. They opted not to travel this year.“Having to travel and sit in an airport on Thanksgiving just sounds terrible,” Newman said.Newman said they were more than happy to avoid the holiday travel rush.“We just wanted to stay warm at home and have a very low-key Thanksgiving—not too much effort, not too much going on—to keep it relaxing,” Newman said. “We just wanted to relax and not have to travel.”The Newman’s aren’t alone. Puskar Bhattarai and his family also opted to stay home for the holidays this year after their flights were canceled last Ch...

Black Friday buzz at Bass Pro Shops draws enthusiastic crowds

Published Sat, 22 Feb 2025 09:44:48 GMT

ST. LOUIS -- In St. Louis, MO, major stores geared up to welcome throngs of eager shoppers as Black Friday unfolded. At Bass Pro Shops in St. Louis, a surge of people kicked off the day, lining up eagerly to take advantage of the deals.Significant discounts and special deals define Black Friday. Shoppers are attracted to the prospect of saving money on high-ticket items, electronics, clothing, and other goods. The allure of substantial discounts motivates people to shop for items they may have been eyeing but are waiting for the opportune moment to purchase.Bass Pro Shop experienced a flood of shoppers streaming through the doors, each with their sights set on big-ticket items. From four-wheelers to scopes and firearms, the store buzzed with excitement. Among the crowd, conversations ensued about various products, including recommendations for durable dog toys that purportedly "last forever."In the midst of the shopping frenzy, one individual, who had endured the chilly wait, contem...

Thanksgiving weekend brings cooler temperatures and a glimpse of snow

Published Sat, 22 Feb 2025 09:44:48 GMT

ST. LOUIS -- It was a beautiful Thanksgiving, but a cold front has now passed through the area. Friday will be cooler, a bit breezy, and a bit cloudier. Highs in the mid-40s. Skies will clear into Saturday morning, with a cold start in the upper 20s. Saturday will start sunny, then we will see increasing clouds. Highs again in the mid 40s.  We are expecting to see the first snowflakes of the season late Saturday night into early Sunday morning. A mix of rain and snow is expected to fall as temperatures fall into the lower 30s. The chance for the light precipitation to fall as snow is higher along and north of I-70 in Missouri and Illinois. There could be dust on some grassy surfaces or cold windshields north of the Hermann-Hartin-Litchfield line as we wake up Sunday morning.  Showers and any snow end around midday Sunday. Clear skies and breezy in the afternoon, with highs only in the low 40s. Monday through Wednesday look dry and chilly. Out the door morning temperatures are in the...