Sri Lanka’s Debt Crisis Tests China’s Role as Financier to Poor Countries

Sri Lanka’s Debt Crisis Tests China’s Role as Financier to Poor Countries

COLOMBO, Sri Lanka—As Sri Lanka’s foreign-exchange reserves began to dwindle under a mountain of debt early in the Covid-19 pandemic, some officials argued it was time to ask for a bailout from the International Monetary Fund, a politically fraught move that traditionally comes with painful austerity measures. But China, Sri Lanka’s largest single creditor, offered

Assassination of Japan’s Shinzo Abe Stuns the Nation

Assassination of Japan’s Shinzo Abe Stuns the Nation

TOKYO— Shinzo Abe, a former Japanese prime minister, died after being shot Friday during an election campaign rally, sending shock waves through a country unaccustomed to gun violence. Police arrested a 41-year-old man whom they said approached Mr. Abe from behind as he gave a speech in the city of Nara and fired twice with

Germany Steps Up Measures to Conserve Gas as Russia Slows Supply to Europe

Germany Steps Up Measures to Conserve Gas as Russia Slows Supply to Europe

BERLIN—Germany will restart coal-fired power plants and offer incentives for companies to curb natural gas consumption, marking a new step in the economic war between Europe and Russia. Berlin unveiled the measures on Sunday after Russia cut gas supplies to Europe last week as it punched back against European sanctions and military support for Ukraine.

Sweden, Finland Weigh Cyber Risks Stemming From NATO Applications

Sweden, Finland Weigh Cyber Risks Stemming From NATO Applications

Authorities in Sweden and Finland have raised alert levels for cyberattacks, concerned they face increased hacking risks because of the war in Ukraine and the two Nordic countries’ subsequent applications to join NATO. Since Russia invaded Ukraine in February, cybersecurity officials in Sweden and Finland haven’t seen an increase in attacks targeting critical infrastructure, though

India Bans Wheat Exports, Putting More Pressure on Global Food Supplies

India Bans Wheat Exports, Putting More Pressure on Global Food Supplies

NEW DELHI—India said it would ban wheat exports, in a move that will add to global inflationary pressure and further strain global food supplies that have been disrupted by the war in Ukraine. “The food security of India, neighboring and other vulnerable countries is at risk,” India’s Directorate General of Foreign Trade said in a

Jared Kushner’s New Fund Plans to Invest Saudi Money in Israel

Jared Kushner’s New Fund Plans to Invest Saudi Money in Israel

Jared Kushner’s new private-equity fund plans to invest millions of dollars of Saudi Arabia’s money in Israeli startups, according to people familiar with the investment plan, in a sign of warming ties between two historic rivals. Affinity Partners, which has raised more than $3 billion, including a $2 billion commitment from the kingdom’s sovereign-wealth fund,

As Inflation Eases Public Debt Load, Economists Sound Cautionary Note

As Inflation Eases Public Debt Load, Economists Sound Cautionary Note

Rampant inflation is helping reduce the weight of the world’s public debt relative to its economic output, a boon for governments that economists warn could easily backfire if inflation stays unchecked. Some highly indebted European countries—including Greece, Portugal and the U.K.—are on track to erase the additional debt raised to combat the Covid-19 pandemic as

Russia’s War in Ukraine Is Straining Global Economic Cooperation

Russia’s War in Ukraine Is Straining Global Economic Cooperation

WASHINGTON—A rift between Western democracies and Russia and China is forcing policy makers to figure out how to keep conversations alive among nations with diverse views as they face economic challenges arising from the war in Ukraine. Indonesia’s announcement Friday that it has invited the leaders of Russia and Ukraine to a November meeting of

China’s Manufacturing Activity Pummeled by Covid Restrictions

China’s Manufacturing Activity Pummeled by Covid Restrictions

BEIJING—Readings of Chinese factory and service-sector activity worsened dramatically in April, falling to their lowest levels since the early days of the Covid-19 outbreak, as recent lockdowns in dozens of cities across the country shut factories and pummeled consumer spending. China’s National Bureau of Statistics said Saturday that its official manufacturing purchasing managers index dropped

After Russian Retreat, Ukraine’s Farmers Discover Fields Full of Mines

After Russian Retreat, Ukraine’s Farmers Discover Fields Full of Mines

Russian forces have riddled Ukrainian fields with mines and destroyed equipment in areas they once occupied, in what returning farmers and the Kyiv government allege is a campaign by Moscow to hobble the country’s agricultural industry. Russia’s invasion already has decimated shipments of corn, wheat and sunflower oil from what was until recently one of

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