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Sri Lanka: timeline of a crisis
Sri Lanka: timeline of a crisis
Business and Economy
by  AFP

The International Monetary Fund approved a $2.9 billion bailout deal for Sri Lanka on Monday, raising hopes for an easing of the island nation's dire economic crisis. - September 1: Bailout deal - The IMF announces a four-year, $2.9 billion bailout package, conditional on a deal between the government and its creditors to restructure its borrowings.

US government seeks to avoid 'bailout' label amid banking turmoil
US government seeks to avoid 'bailout' label amid banking turmoil
Business and Economy
by  AFP

US authorities may have taken extraordinary steps in recent weeks to assure depositors of failed lenders Silicon Valley Bank and Signature Bank, but they are avoiding parallels with bailouts of the 2008 crisis -- which have been criticized. The way the 2008 crisis was managed had provoked criticism, given rise to the Occupy Wall Street movement, and fuelled resentment towards banks.

Venezuela's oil minister resigns over graft probe
Venezuela's oil minister resigns over graft probe
Business and Economy
by  AFP

Venezuela's oil minister Tareck El Aissami resigned on Monday after prosecutors opened a corruption investigation into officials at the state oil company PDVSA. Anti-corruption police on Sunday arrested two people closely linked to El Aissami: top PDVSA official Antonio Perez Suarez, and Joselit Ramirez, who manages oil industry funds through cryptocurrencies.

BBC urges staff to ditch TikTok over data fears
BBC urges staff to ditch TikTok over data fears
Business and Economy
by  AFP

The BBC said Monday that it had told staff to delete Chinese-owned video app TikTok unless it was needed for business reasons, with Western institutions increasingly taking a harder stance over data collection fears. Western authorities have been taking an increasingly firm approach to the app, owned by the firm ByteDance, citing fears that user data could be used or abused by Chinese officials.