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Sri Lanka reduces interest rates for 1st time since bankruptcy as economy shows signs of rebounding

Published Wed, 05 Mar 2025 02:30:39 GMT

COLOMBO, Sri Lanka (AP) — The Central Bank of Sri Lanka reduced its interest rates Thursday for the first time since the island nation declared bankruptcy, after stern fiscal controls, improved foreign currency income and help from an International Monetary Fund program resulted in inflation slowing faster than expected. The Central Bank said in a statement that the lending and deposit interest rates were reduced by 250 basis points to 14% and 13%. The hope is that lowering the rates would “provide an impetus for the economy to rebound from the historic contraction activity witnessed in 2022, while easing pressures in the financial markets,” the statement said.According to the Central Bank, the headline inflation stood at 35.3% in April, was reduced to 25.2% in May and is expected to reach single-digit territory by the the third quarter. Sri Lanka declared bankruptcy in April 2022 and said it is suspending repayment of its foreign debt. It reached an agreement in March with th...

June Opens Hot! —A BRIEF COOL DOWN Is Predicted By Mid-Next Week—But Warmth looks to Rebuild

Published Wed, 05 Mar 2025 02:30:39 GMT

CHICAGO's second day with a 91° high amid humid tropical air set the stage for t-storm development Wednesday afternoon. It was an interesting to end a month which has seen the area RAIN-STARVED.The 0.29" which fell at O'Hare pushed the May rainfall tally to 0.71"—FAR SHORT of the 4.49" which is normal for the month. (May is Chicago's wettest month of the year--but certainly hasn't been this year). The month concludes the 4th driest May of the past 153 years with only 16% of the normal. The last day of May 2023 closed hot in Chicago, with the month averaging 2-degrees warmer than normal—but 1.3° cooler than May a year ago.Wednesday's t-storm rains bypassed Midway Airport even though thunder was heard rumbling there. Here is a series of 3-D radar images of the t-storms at their height Wednesday afternoon.Dew points in the city Wednesday hit 70-degree for an hour—a steamy Gulf Coast moisture level and a reading which indicates the city registered its highest atmospheric moisture conten...

Ukraine says it's working with BAE to set up weapons production

Published Wed, 05 Mar 2025 02:30:39 GMT

Ukraine is working with major British defense company BAE Systems (BAES.L) to set up a Ukrainian base to both produce and repair weapons from tanks to artillery, President Volodymyr Zelenskyy said on Tuesday (30 May).Zelenskiy spoke after talks with senior officials from BAE, including Chief Executive Charles Woodburn."It is indeed a massive manufacturer of weaponry, the kind of weaponry that we need now and will continue to need," Zelenskiy said in an evening video address."We are working on establishing a suitable base in Ukraine for production and repair. This encompasses a wide range of weaponry, from tanks to artillery," he added. Zelenskiy did not give further details.Earlier in the day, Zelenskiy said the two sides had agreed to start work on opening a BAE office in Ukraine.

Russia and Ukraine fail to embrace IAEA plan to protect nuclear plant

Published Wed, 05 Mar 2025 02:30:39 GMT

Neither Russia nor Ukraine committed to respect five principles laid out by International Atomic Energy Agency (IAEA) chief Rafael Grossi on Tuesday (30 May) to try to safeguard Ukraine's Russian-occupied Zaporizhzhia nuclear power plant.Grossi, who spoke at the UN Security Council, has tried for months to craft an agreement to reduce the risk of a catastrophic nuclear accident from military activity like shelling at Europe's biggest nuclear power plant.His five principles included that there should be no attack on or from the plant and that no heavy weapons such as multiple rocket launchers, artillery systems and munitions, and tanks or military personnel be housed there.Grossi also called for off-site power to the plant to remain available and secure; for all its essential systems to be protected from attacks or sabotage; and for no actions that undermine these principles.The UN nuclear watchdog's chief described the situation at Zaporizhzhia as "extremely fragile and dangerous", ...

"He may be a bastard, but he's our bastard " - now in Moldova, during the Summit

Published Wed, 05 Mar 2025 02:30:39 GMT

Franklin Roosevelt once said about Dictator Rafael Trujillo "He may be a bastard, but he's our bastard.” Well dear EU leaders, looks like president Sandu has become your bastard. While visiting our country, the people of Moldova will show you the true colors of Sandu… pic.twitter.com/4Cs0OHS16w— Ilan Shor (@ilanshormoldova) May 31, 2023

Angelenos To Protest Florida Immigration Bill Thursday

Published Wed, 05 Mar 2025 02:30:39 GMT

Angelenos will protest at Placita Olvera in downtown L.A. Thursday as part of a nationwide protest against Florida’s SB1718 immigration law.The rally will begin at 9 a.m. on Olvera Street, followed by a march at 11 a.m.The protest is being organized by the Mobilize 4 Immigrants coalition, with a second protest planned in the Orange County city of Santa Ana at 5 p.m.These efforts are in addition to a nationwide labor strike that has caught fire on social media, asking supporters to not work or shop and instead join a local rally, such as the ones being held in L.A. and Santa Ana.“This is a community-led labor strike in solidarity with our indigenous immigrant community,” the organizers wrote on their call to action. “We can put a stop to these anti-immigrant bills by boycotting. Enough is enough.”A push on social media has also led to talks of Latino truck drivers striking Thursday, possibly putting stress on deliveries meant for Florida.Florida’s ...

4-year-old girl injured in Oakland shooting

Published Wed, 05 Mar 2025 02:30:39 GMT

(KRON) -- A 4-year-old girl was shot Wednesday night, the Oakland Police Department confirmed to KRON4. The shooting happened on the 3400 block of 68th Avenue just before 9 p.m. The victim was located inside a home and taken to Highland Hospital.The nature and circumstances of the shooting remain unclear, police said. This is a developing story. Stick with KRON4 for updates.

‘Kosovo is the heart of Serbia’ — Djokovic doubles down: ‘I would say it again’

Published Wed, 05 Mar 2025 02:30:39 GMT

Serbia’s star tennis player Novak Djokovic stood behind his controversial comments that “Kosovo is the heart of Serbia,” which had prompted fierce criticism from the French sports minister. “I would say it again, but I don’t need to because you have my quotes,” Djokovic told reporters at Roland-Garros after his second-round victory late Wednesday night at the French Open tennis tournament, according to French newswire AFP.“I’m aware that a lot of people would disagree, but it is what it is,” the 22-time Grand Slam winner added. “It’s something that I stand for.”Djokovic, one of the most successful athletes in tennis history and a superstar in his home country Serbia, sparked criticism Monday at the Paris tournament. “Kosovo is the heart of Serbia. Stop the violence,” Djokovic wrote in Serbian on a TV camera screen after his first-round win.Clashes between police and Kosovo Serb protesters in n...

Decorated Australian war veteran unlawfully killed prisoners in Afghanistan, judge says

Published Wed, 05 Mar 2025 02:30:39 GMT

SYDNEY (AP) — Australia’s most decorated living war veteran unlawfully killed prisoners and committed other war crimes in Afghanistan, a judge ruled Thursday in dismissing the claims by Victoria Cross recipient Ben Roberts-Smith that he was defamed by media.Federal Court judge Anthony Besanko ruled that the articles published in 2018 were substantially true about a number of war crimes committed by Roberts-Smith, a former Special Air Service Regiment corporal who now is a media company executive.Besanko found Roberts-Smith, who was also awarded the Medal of Gallantry for his Afghan war service, “broke the moral and legal rules of military engagement” and disgraced Australia through his conduct.Proven allegations included that Roberts-Smith, the son of a judge, killed a prisoner who had a prosthetic leg by firing a machine gun into the man’s back in 2009. He kept the man’s prosthetic as a novelty beer drinking vessel.The accusations also included Roberts-Smith had kicked ...

Russian bombardment of Ukraine’s capital kills at least 3 people, wounds others

Published Wed, 05 Mar 2025 02:30:39 GMT

KYIV, Ukraine (AP) — Russia launched yet another aerial bombardment of Kyiv on Thursday, killing at least three people and wounding others, authorities said.Following a reported 17 drone and missile attacks on the Ukrainian capital in May, Russian forces hit the capital in the early morning with ground-launched missiles. The Kyiv City Administration reported one child was among the dead, and 10 people were wounded. The casualty toll was the most from one attack on Kyiv in the past month. The attack also damaged apartment buildings, a medical clinic, a water pipeline and cars. Earlier, the city government had said that two children were killed before revising the number to one.Ukraine’s General Staff reported that the Air Forces intercepted all 10 missiles, which it identified as short-range Iskander cruise and ballistic missiles.One explosion sent missile fragments ripping into an apartment building in a leafy neighborhood. In the morning light, paramedics escorted an elderly woman ...