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BBCNEWS Asia July 1, 2024

the central bank it needs these foreign currency reserves to enact firepower and effect the economy and it has run out of that lifeline. the other aspect is the that of capital controls, they are measures by the government to prevent people from changing their argentine currency into foreign currencies, it is very popular they have a black market, where people meet to exchange the currency to the us dollar and thatis currency to the us dollar and that is artificially changing the currency, what they want to do here is bring it back to market, reduce this propping up, this artificial inflation, see where it stabilises off it has been welcomed by the international monetary fund which argentina has a huge debt to, they called the move bold said it would bring its refinancing progress programme back on track. people who will feel this are those who will feel this are those who import goods, they will find things more expensive, we will see pain for small and medium busin ....

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BBCNEWS Newsday July 1, 2024

president biden earlier said that israel was losing international support because of what he called its indiscriminate bombing of gaza. our north america correspondent shingai nyoka explains why the us voted against the resolution. it s no surprise they did that, in fact the text of this particular resolution was similar to the one that was debated on friday, with the security council where the us blocked it, vetoed it, and there really was no expectation that the us was going to vote against it. 153 countries or member states of the un, voted in favour of this immediate call for a cease fire, or call for an immediate cease fire and those countries included india and canada. 23 countries abstained, and i think it s interesting to note that the uk is increasingly abstaining in these votes. the uk un ambassador barbara woodward said the support for israel that the uk supports israel s right to defend itself against hamas but said it must be targeted at, must be targeted t ....

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BBCNEWS World July 1, 2024

from fossil fuels by 2050. this follows the rejection of the first draft because it did not call for a phasing out of fossil fuels. there were quite a few leaders at this event to a not happy with that at all. so will this latest proposed text lead to agreement? will it get across the line? countries are looking at this text right now, deliberating over every word. let s go live to dubai. our middle east business correspondent sameer hashmi is at the cop for us. we could hear quite soon, good way, on what the leaders think about this latest text?- about this latest text? sally, we don t know about this latest text? sally, we don t know how - about this latest text? sally, we don t know how soon - about this latest text? sally, i we don t know how soon that would be, but, yes, the leaders and negotiators will be going into the room which is scheduled in about half an hour and they will discuss the latest text that has been released. we will have a discussion. there h ....

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BBCNEWS Asia July 1, 2024

international monetary fund for the inner statement we heard them say this is going to help, a bold move that would help stabilise the economy and set the basis for more sustainable and private sector led growth. the first group we have seen by the newly appointed economy minister and when mrjavier milei be sworn in as president on sunday. it has been quick. a huge roof. whenjavier milei huge roof. when javier milei came huge roof. whenjavier milei came into office he promised shock measures. he walked around with a chainsaw promising that is going to indicate the spending cuts and tax cuts he was promising. seen as a libertarian and very ultralight leader. this is the first of the measures. other measures announced as they will cut transport and fuel subsidies and cutting any spending by the government on advertising. huge reforms and all of this as part of living up all of this as part of living up to those campaign pledges made byjavier milei. one of the most controv ....

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BBCNEWS Asia July 1, 2024

that number has remained higher thanks in part to persistently high housing costs. raising interest rates is meant to combat inflation. higher interest rates make it more expensive to borrow money and that is supposed to tempt down spending which in turn should tame runway prices. president biden praised the data as good news and called on large corporations to pass the savings on to consumers. now it is up to the fed to decide whether they have done enough work to help prices return to normal. that would mean holding interest rates steady and that is what they are expected to do on wednesday. what investors really want to know is when the fed thinks it will be time to cut rates. they will almost certainly have to wait and hope for next year. of course inflation has been a big topic for many economies around the world this year. it is a different picture in china where we just found out last week the economy is slipping further into deflation, that s falling prices. wit ....

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