Lebanon’s currency, the lira, has lost about 95 percent of its value since the start of the country's economic meltdown in 2019. It is now trading at close to 50,000 to $1. Instead of implementing much-needed reforms, the political elite is accused of creating a confusing exchange rate system that is hurting people who rely on it the most.

Beirut

Lebanese lira hits all time low amid economic crisis

Goods Services Hospital fees Insurance, they're all priced in foreign currency lebanon's. Economy has become dollarized because the local currency is nearly worthless. And she honestly would but we buy everything in dollars our Goods. Our rent electricity. Yes, we should price in the local currency, but it's not possible because its value keeps fluctuating trading is dominated by the black market exchange rate. It's hovering around 50,000 naira to the dollar causing even more economic difficulties for people already struggling to get by But it's not the only rate politicians and bankers are accused of creating a multiple exchange rate system to cover up losses in the billions of dollars easy problem. They deposited the money at the public sector at the central bank and the government is unable to pay them back. They had a major got and they are starting to shift it to deposit. It was a haircut. And how do they do the hair cut through this? Multiple exchange rate system. It's known as the Lalor Lebanese dollar or bank rate and it is used to withdraw trap foreign currency deposits. And while the official rate has been pegged at $1,500 to the dollar since 1997, the government says, the fiscal situation means, it has to collect taxes and fees at another rate. And then there is the side of a rate. Pumping dollars into the market from its dwindling foreign currency reserves through this exchange platform, but it's proven to be unsustainable. Authorities are planning to increase the official rate penfold next month. Which they say, will help alleviate the crisis Economist disagree when you are trying to fix a 15000 and everybody knows that your central bank doesn't have anymore any liquidity because it's actually running losses of more than 60 billion dollar. So there is no credibility to this new exchange rate. The political and Business Leaders are blamed for failing to implement reforms. In the financial sector. Instead they have been offering temporary solutions that many Lebanese say benefit them and worse than a crisis that's now in its fourth year, that a bathing suit.

Another earthquake has struck Turkey and Syria hours causing more buildings to collapse as rescue crews searched through the rubble. The death toll has risen to 2,600 with at least 11,000 more injured. Across the hardest hit regions, many buildings have collapsed with frantic search efforts underway to rescue people trapped inside. World leaders have pledged humanitarian assistance.

Malatya

Second, powerful quake hits Turkey

Health workers in Britain began their biggest ever strike on Monday, as tens of thousands of nurses and ambulance workers walked out in an escalating pay dispute, putting further strain on the state-run National Health Service (NHS). 

London

Nurses, ambulance workers go on strike in UK

Tens of thousands of travellers commuted between mainland China and Hong Kong on Monday (February 6), authorities said, marking the first time in three years that all border checkpoints were reopened fully without health crisis restrictions.

Hong Kong International Airport

COVID Latest

China-Hong Kong border reopens fully

Countries around the world mobilised rapidly to send aid and rescue workers on Monday after a massive earthquake killed more than 2,300 people in Turkey and Syria. The pledges of assistance came from countries across Europe, Asia, the Middle East, as well as North America. 

World mobilizes aid for Turkey, Syrian quake victims

Ukraine's military has said its preparing for mass Russian bombardments across the country any day now as Moscow's invasion nears the one-year mark.

Kyiv

Ukraine Invasion

Zelenskyy says Russia is preparing for mass attack

The EU and G7 countries have also expanded the existing price cap on Russian crude oil to include all refined products.

Brussels

Russian Sanctions

Russian oil ban comes into effect

A major earthquake of magnitude 7.9 has struck central Turkey and northwest Syria, killing scores of people and injuring hundreds as buildings collapsed. Emerging from the devastation are stories of survival. Rescue workers saved an injured child from the rubble of collapsed buildings in Syria's Azaz.

A'zaz

Hundreds killed in Turkey, Syria earthquake

Firefighters battled dozens of raging wildfires in Chile on Sunday (February 5), seeking to gain control of one of the country's worst natural disasters in years as the death toll rose to at least 24 with nearly 1,000 more injured.

Bio Bio

Climate Crisis

Chile calls for international help as fires rage

Ukraine's President Volodymyr Zelenskyy says he expects a major Russian offensive in the coming weeks. In his nightly address, Zelenskyy said Moscow is increasing pressure on several fronts, ahead of the first anniversary of the war on February 24th. The battle for control of the eastern city of Bakhmut has been intensifying, with Russia deploying more troops.

Bakhmut

Ukraine to fight for Bakhmut ‘as long as it can’

U.S. President Joe Biden is coming under fire for waiting days to shoot down a suspected Chinese spy balloon. Officials say waiting was necessary to keep Americans safe, but opponents say it showed weakness amid rising tensions with China.

Washington

Biden criticized for waiting to shoot down balloon

The extreme cold snap in Ontario, Quebec and Atlantic Canada may be over, but thousands are still dealing with the aftermath of frigid temperatures and high winds that downed power lines and burst pipes.

Halifax

Clean-up begins after extreme cold snap

Pervez Musharraf, who led Pakistan during the turbulent years of the U.S.-led War on Terror, has died at the age of 79. While he oversaw a period of economic growth, he left a complicated legacy both in Pakistan and beyond.

Dubai

Musharraf, Pakistan's President dies in exile

Footage shows fire engulfing Melbourne’s Bright Moon Buddhist Society Temple on Sunday evening. More than 80 firefighters battled the blaze into the night as the fire quickly spread throughout the building. It's not yet known if anyone was inside when the fire started. Roads in the surrounding area are closed as investigations into the cause of the fire are underway.

Springvale South

Blaze burns down Melbourne temple

The new pricing falls under the new Twitter Blue for Business service. Within the next few months, only paying Twitter customers will have verified status. Twitter has stacked on $12.5 billion in debt, and this move hopes to increase subscription revenue to meet Musk's obligations. 

San Francisco

Companies to pay extra for verified Twitter accounts

A powerful arctic blast has hit parts of the United States and Canada, with fierce winds pushing temperatures down into the negative double digits. The lowest temperature ever recorded in North America, a wind chill of -104F was felt at Mount Washington in New Hampshire. Authorities have issued a health advisory amid the extreme cold weather.

Boston

'Generational' Arctic blast hits U.S, Canada

A village on the Ohio, Pennsylvania border has been evacuated and a state of emergency declared after a train carrying 'hazardous materials' derailed, sparking a large fire. About 50 cars derailed in East Palestine late Friday, with the rail operator confirming many were carrying dangerous goods. A plume of toxic smoke is blowing away from the site with fears for the health of nearby communities.

East Palestine

Giant fire after 'hazardous' train derailment

The U.S military has shot down a Chinese balloon, which it says was a surveillance craft, off the coast of South Carolina. China strongly condemned the military strike, saying the was used for meteorological and other scientific purposes, and had strayed into U.S. airspace "completely accidentally". Beijing saying it now reserved the right to use similar force against U.S vessels.

Surfside Beach

China: Spy balloon downing an 'overreaction'

Ukraine expects a possible major Russian offensive this month, but Kyiv has the reserves to hold back Moscow's forces even though the latest Western military supplies will not all arrive in time, Ukraine's defense minister said on Sunday.

Kramatorsk

Kyiv warns of major new Russian offensive

At least 23 people have died in hundreds of forest fires in Chile. Nearly a thousand people have been injured as a blistering heatwave is complicating efforts to control the blazes. The fires are raging across the central-southern regions of Araucanía, Biobio and Nuble. The government has extended emergency orders.

Ñuble

Chile wildfires spread as death toll rises

Onlookers have filmed the moment U.S fighter jets shot down a suspected Chinese surveillance balloon off the coast of South Carolina. Pentagon officials confirming they 'successfully took down' the airship, after the Federal Aviation Authority ordered a temporary flight restriction to clear nearby airspace. Officials say they'll now attempt to recover elements of the vessel from the water.

Video captures moment spy balloon destroyed

The United Arab Emirates helped negotiate a prisoner swap on Saturday which saw dozens of troops from either side return home. Some 'special category' detainees were also exchanged.

Zaporizhzhia

Mass prisoner swap between Russia, Ukraine

People in the northern Pakistani city of Peshawar have been protesting to demand authorities take action to prevent attacks by armed groups. More than 100 people were killed in the city when a suicide bomber targeted a mosque on Monday.

Peshawar

Pakistan mosque attack victims demand justice

Anti-government protests in Peru are affecting the country's tourism industry.
The most visited site, Machu Picchu, has been closed since demonstrations spread in the area.

Cusco

Protesters destroy access to Machu Picchu

A jury in the United States has found Tesla billionaire Elon Musk did not defraud investors with tweets he sent in 2018. The not-guilty verdict was reached after less than two hours of deliberation following a three-week trial. 

Elon Musk found not guilty over Tesla tweets

Beijing is calling for calm as a giant Chinese balloon continues to float over the United States. China says it is a civilian weather balloon and its location is an accident. But US Secretary of State Antony Blinken says the balloon's presence is "an irresponsible act," and has postponed a planned visit to Beijing.

Blinken postpones China visit over balloon incident

The polar vortex hitting central and eastern Canada has sent temperatures to life-threatening lows. In Toronto, there aren't enough shelter beds to keep everyone off the streets at night but workers and volunteers say they won't turn anyone away.

Campbellton

Polar vortex sweeps across Canada, U.S

Andrei Medvedev fled across frozen fields in Ukraine to escape the Russian mercenary group he signed up to fight for - the secretive Wagner group. The 26-year-old says he regrets going to fight in the war and is now prepared to give evidence about the war crimes he witnessed, including brutal executions on Russia's own soldiers.

Oslo

Wagner defector becomes key witness

Pentagon officials said they have 'neutralized' surveillance carried out by a Chinese spy balloon floating over the continental U.S., and the balloon poses no threat to Americans. It comes as U.S authorities confirm reports a second Chinese balloon has been spotted flying over Latin America.

Billings

Second Chinese spy balloon spotted

The prime ministers of Estonia, Latvia and Lithuania have threatened to boycott the Paris Games in 2024 if Russian athletes are allowed to compete. This follows the International Olympic Committee's decision to allow Russian or Belarusians to participate as neutral athletes.

Vilnius

Baltic states threaten to boycott Olympics

Pope Francis joined the Archbishop of Canterbury, and the moderator of the Church of Scotland in South Sudan on Friday in a joint campaign to promote peace.