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- Afghans receive aid at a camp after an earthquake in Gayan district in Paktika province, Afghanistan, Sunday, June 26, 2022. A powerful earthquake struck a rugged, mountainous region of eastern Afghanistan early Wednesday, flattening stone and mud-brick homes in the country's deadliest quake in two decades, the state-run news agency reported. (AP Photo/Ebrahim Nooroozi)
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Inflation pushed 71M people into poverty since Ukraine war
By AYA BATRAWY - Associated Press
Thu,07/07/22-12:06AM , 1,311 Reads
DUBAI, United Arab Emirates (AP) — A staggering 71 million more people around the world are experiencing poverty as a result of soaring food and
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- Federal Reserve Chairman Jerome Powell testifies before the House Financial Services Committee on Thursday, June 23, 2022 in Washington. (AP Photo/Kevin Wolf)
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Fed: Sharply higher rates may be needed to quell inflation
By CHRISTOPHER RUGABER - AP Economics Writer
Wed,07/06/22-1:10PM , 287 Reads
WASHINGTON (AP) — Federal Reserve officials were concerned at their meeting last month that consumers were increasingly anticipating higher inflation, and they signaled that much higher interest rates could be needed to restrain it.
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- People build a model of the business tower Lakhta Centre, at the headquarters of Russian gas monopoly Gazprom, filling the frame with stones, in St. Petersburg, Russia, Thursday, June 9, 2022. It's not a summer heat wave that's making European leaders and businesses sweat. It's fear that Russia's manipulation of natural gas supplies will lead to an economic and political crisis next winter. Or, in the worst case, even sooner. (AP Photo/Dmitri Lovetsky, File)
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EXPLAINER: Fears of a natural gas emergency stalk Europe
By ASSOCIATED PRESS
Wed,07/06/22-5:58AM , 248 Reads
It’s not a summer heat wave that's making European leaders and businesses sweat. It's fear that Russia's manipulation of natural gas supplies will lead to an economic and political crisis next winter.
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- Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, July 7, 2022. Asian stock markets gained Thursday after the Federal Reserve said higher U.S. interest rates might be needed to cool inflation. (AP Photo/Ahn Young-joon)
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Asian stocks higher after Fed says rate hikes may be needed
By JOE MCDONALD - AP Business Writer
Wed,07/06/22-1:33AM , 342 Reads
BEIJING (AP) — Asian stock markets gained Thursday after the Federal Reserve said higher U.S. interest rates might be needed to cool inflation.

Shanghai, Tokyo and Sydney advanced. Hong Kong declined. Oil prices fell more than $1 per barrel to stay below $100.
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