Lebanon's central bank will begin selling unlimited amounts of U.S. dollars in a bid to halt the spiralling devaluation of the Lebanese pound, Governor Riad Salameh said on Tuesday. Salameh set a new rate for Sayrafa, the central bank's exchange platform, at 90,000 Lebanese pounds per dollar on Tuesday.
Ecuador's President Guillermo Lasso declared a state of emergency in 14 provinces worst affected by severe weather and a strong earthquake that shook the country over the weekend, the government said on Tuesday. The measure adopted on Monday night will be in force for 60 days and will help authorities to mobilize economic resources to support the population and repair infrastructure.
- New Yorker Elizabeth Palumbi's list of European cities to visit this spring keeps getting longer, and she is not alone. Online searches by Americans for flights to Europe trips are surging despite soaring air fares, a worsening economic outlook and risks of gridlock at some of the airports in Europe.
The U.S. banking system is stabilizing after strong actions from regulators, but further steps to protect bank depositors may be needed if smaller institutions suffer deposit runs that threaten more contagion, U.S. Treasury Secretary Janet Yellen told bankers on Tuesday.
New Yorker Elizabeth Palumbi's list of European cities to visit this spring keeps getting longer, and she is not alone. Online searches by Americans for flights to Europe trips are surging despite soaring air fares, a worsening economic outlook and risks of gridlock at some of the airports in Europe.
- Brazilian President Luiz Inacio Lula da Silva said on Tuesday that the proposal for new fiscal rules will only be announced after his visit to China, frustrating expectations that the measures would be unveiled this week. In an interview to local news website Brasil 247, Lula said that the fiscal framework is already "mature", but it makes no sense to announce it and then travel to China.
* U.S. Treasury yields near session-high. * Fed statement due at 1800 GMT on Wednesday. By Seher Dareen. Gold fell more than 1% on Tuesday as Treasury yields jumped while some traders booked profits after a strong run driven by risk aversion spurred by the banking crisis, as they geared up for the U.S. Federal Reserve's interest rate decision.
The U.S. Treasury is considering what steps can be taken to further strengthen America's financial stability, Deputy Treasury Secretary Wally Adeyemo said on Tuesday.
When Maria Lopes moved to Lisbon from the northern Portuguese city of Tondela, her goals were straightforward: study, find a job, get a place of her own. But a decade on, she still lives in a tiny, rented room - one of tens of thousands of young Portuguese hit by a housing crisis exacerbated by the arrival of richer foreigners lured in by incentives pushed by her own government.
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