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Chrystia Freeland says there is no better source of extra funds for Ukraine‘s recovery from the Russian invasion than from the assets of those backing the war.In an interview with The West Block‘s Mercedes Stephenson, Freeland emphasized the proposal in the budget she tabled last week that would allow Canada’s minister of foreign affairs to not only freeze Russian assets, but seize them, too.“Right now, we can freeze assets. What we need to do is have the power to seize those assets,” she said.“Ukraine is going to need to be rebuilt.

recession is on the horizon in the U.S. as the Federal Reserve makes an aggressive pivot to cool the hottest inflation in four decades, according to economists at Deutsche Bank. "We no longer see the Fed achieving a soft landing," Deutsche Bank economists led by Matthew Luzzetti said in the analyst note.

SOUTH PHILADELPHIA - Big news for those flying out of Philadelphia International Airport. $13.00 parking is coming back.

COLOMBO (News 1st); The Central Bank of Sri Lanka has decided to tighten its monetary policy stance to stabilize the economy.The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 08 April 2022, decided to increase the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 700 basis points to 13.50 percent and 14.50 percent, respectively, effective from the close of business on 08 April 2022.The Board, having noted the inflationary pressures that could further intensify in the period ahead, driven by the build-up of aggregate demand, domestic supply disruptions, exchange rate depreciation, and the elevated prices of commodities globally, was of the view that a substantial policy response is imperative to arrest the buildup of added demand-driven inflationary pressures in the economy and preempt the escalation of adverse inflationary expectations, to provide the required impetus to stabilize the exchange rate and also to correct anomalies observed in the market interest rate structure.

COLOMBO (News 1st); The European Union has requested Sri Lankan authorities to start in-depth discussions with the International Monetary Fund (IMF) on the reforms needed to bring the Sri Lankan economy back to a sustainable path.They issued a joint statement on the recent developments in Sri Lanka together with the diplomatic missions of the EU Member States and with the diplomatic missions of Australia, New Zealand, Norway, Switzerland, & the United Kingdom.

COLOMBO (News 1st); All of us have failed our duty, and we have failed to address ourselves with public sentiment, says Ceylon Workers Congress MP Jeevan Thondaman. Speaking at Parliament today (07), the MP pointed out that while people are holding placard all over the country because they do not have a voice in Parliament, those with a voice are holding placards inside the Parliament, which is a very senseless thing to do. He further stated that the MPs are not speaking on issues they should be speaking about, and are simply delaying the inevitable. “And that inevitable means people’s lives at stake, the economy at stake. Even now we are still playing the blame game, and it is exactly why people are out on the streets.

COLOMBO (News 1st); 37 people were injured during the protest that took place in Pengiriwatte Road, Mirihana on Thursday (31) night.They are currently being treated at the Colombo National Hospital.Among the injured are 24 members of the Sri Lanka Police Special Task Force, 3 members from Sri Lanka Police, 3 Journalists, and 7 civilians.54 persons who were engaged in the protest on Thursday (31) night at Mirihana, Nugegoda have been arrested by Sri Lanka Police. Police stated that a woman was among them.Two Police & army buses, a jeep, a three-wheeler, and two motorcycles were damaged, during the protest.

COLOMBO (News 1st); Sri Lanka lifted a police curfew imposed on multiple police sectors in the Capital City of Colombo at 5 AM on Friday (1)Authorities were compelled to impose a curfew after tensions were witnessed on Thursday (31) night during protests against a mismanaged economy and rising cost of living.Scuffles broke out between protestors and security forces on Thursday (31) night when a peaceful protest proceeded towards Sri Lankan President Gotabaya Rajapaksa’s residence on the outskirts of the city, in Mirihana.Heavy police presence was witnessed in the area at first, and thereafter the Riot Police, Police Special Task Force, Sri Lanka Army, and Sri Lanka Navy personnel were called in to control the situation and prevent the protestors from proceeding towards the President’s house.It is still unclear if the President was at home at the time of the protest.The people involved in the protest were from all corners of Colombo, and expressed anger over the government’s handling of the economy.The country has been plagued by a shortage of reserves that led to a shortage of essentials such as Kerosene, Diesel, Petrol, Gas, and even medicines.While the protest was taking place the supply of electricity for the entire Mirihana area was shut down, the first time since the power cuts came into effect, as Sri Lanka also struggles to import fuel to keep its power plant running.Further, internet connectivity in some areas also was disrupted, for reasons unknown.Another protest took place in Kelaniya as the road between Kelaniya and Dalugama was obstructed by protestors who burn tires and chanted slogans for the government to resign over their mishandling of the country’s economy.

FILE IMAGE - A large "Now Hiring" advertisement is posted on the windows of the Advance Auto Parts store in Bay Shore, New York on March 24, 2022. (Photo by Steve Pfost/Newsday RM via Getty Images) WASHINGTON - Defying a pandemic and supply chain disruptions, the U.S.

COLOMBO (News 1st); The Human Rights Commission of Sri Lanka says that those arrested for protesting in Nugegoda CANNOT be charged under the PTA.54 persons who were engaged in the protest on Thursday (31) night at Mirihana, Nugegoda have been arrested by Sri Lanka Police. Police stated that a woman was among them.Two Police & army buses, a jeep, a three-wheeler, and two motorcycles were damaged, during the protest. Police said that five officers were injured in the protest.

COLOMBO (News 1st); The Human Rights Commission of Sri Lanka says that those arrested for protesting in Nugegoda CANNOT be charged under the PTA.54 persons who were engaged in the protest on Thursday (31) night at Mirihana, Nugegoda have been arrested by Sri Lanka Police. Police stated that a woman was among them.Two Police & army buses, a jeep, a three-wheeler, and two motorcycles were damaged, during the protest. Police said that five officers were injured in the protest.

COLOMBO (News 1st); Sri Lanka has imposed a police curfew on multiple police sectors in the Capital City of Colombo until further notice.These areas are:COLOMBO CENTRAL DIVISIONPettah / Keselwatta / Dam Street / Wolfendhal Street / Fort / Slave Island / Maradana / MaligawattaCOLOMBO NORTH DIVISIONColombo Harbour / Fore shore / Modara / Kotahena / Mattakkuliya / Bloemendhal / Grandpass / Dematagoda / Mihijaya sewanaCOLOMBO SOUTH DIVISIONColpetty / Bambalapitiya / Kirulapone / Wellawatta / Narahenpita / BMICH / Borella / Cinnamon GardenNUGEGODA DIVISIONMirihana / Maharagama / Boralesgamuwa / Wellampitiya / Thalangama / Welikada / Nawagamuwa / Mulleriyawa / Homagama / Kottawa / Athurugiriya / Padukka / Hanwella / Gothatuwa / Meepe / Kaduwela / MalabeMOUNT LAVINIA DIVISIONMount Lavinia / Piliyandala / Angulana / Dehiwala / Kohuwala / Moratuwa / Kahathuduwa / Moratumulla / Egoda Uyana / KesbewaKELANIYA DIVISIONKelaniya / Kandana / Wattala/ Mahabage / Sapugaskanda / Biyagama / Meegahawatta / Ja – Ela / Ragama / Kiribathgoda / Kadawatha / EnderamullaAuthorities were compelled to impose a curfew after ugly scenes were witnessed on Thursday (31) night during protests against a mismanaged economy and rising cost of living.Scuffles broke out between protestors and security forces on Thursday (31) night when a peaceful protest proceeded towards the Sri Lankan President Gotabaya Rajapaksa’s residence on the outskirts of the city, in Mirihana.Heavy police presence was witnessed in the area at first, and thereafter the Riot Police, Police Special Task Force, Sri Lanka Army, and Sri Lanka Navy personnel were called in to control the situation and prevent the protestors from proceeding towards the President’s house.It is still unclear if

COLOMBO (News 1st); Economists have raised concerns whether the Sri Lankan government’s decision to award Rs. 10,000/- as allowances for low-income families will ease the economic burden on the people, in the long term.Professor Aminda Methsila Perera, from the Wayamba University of Sri Lanka, says that according to government calculations there are 3.1 million low-income families in the island nation, and it would require Rs.

COLOMBO (News 1st); Sri Lanka’s Foreign Secretary Admiral (Prof.) Jayanath Colombage has proposed that the countries in the region seize new opportunities for growth.His comments were heard at the Senior Officials Meeting of BIMSTEC nations that took place on Monday (28).“Asia is increasingly the center of the world economy. By 2040 the continent is projected to account for more than half of the global GDP and about 40% of the global consumption,” he said.Admiral (Prof.) Jayanath Colombage said that the Bay of Bengal has today taken center stage in international politics due to its economic and Geostrategic importance.“The busiest international shipping route in the world lies in the Indian Ocean just south of Sri Lanka.

COLOMBO (News 1st); The International Monetary Fund issued a press release highlighting recommendations to be made to ensure that Sri Lanka regains its economic stability under article IV, and have highlighted the importance of shielding the domestic financial sector from offshore banking activities in the Port City.According to the IMF, the Port City is an important opportunity for investment promotion and for testing growth-enhancing structural reforms. However, to maximize its benefits while minimizing associated risks, there is a need to ring-fence tax concessions, ensure compliance with international tax and AML/CFT standards and to shield the domestic financial sector from offshore banking activities in the Port City.Moreover, the tax concessions offered in the Port City should be clearly codified and carefully ringfenced through rigorous regulations while the administration should exercise its discretionary power in granting tax concessions and exemptions given, the IMF adds.In IMF staff’s view, Sri Lanka’s debt is unsustainable.

COLOMBO (News 1st); The Advisory Committee appointed to assist the National Economic Council had submitted 5 proposals to the NEC.The Advisory Committee met President Gotabaya Rajapaksa for the first time on Monday (21), and made the submissions.The five proposals are as follows:1. Immediately appoint a Technical Committee with Central Bank, and Treasury representation to propose on International Financial facilities.2.

The majority of covid restrictions have been lifted in Scotland today, nearly two years since some of them were first introduced.

announcing a $.40 "fuel surcharge" amid a spike in gasoline prices.Instacart made the announcement on Friday, stating that the company is implementing the "temporary surcharge" on all customer orders, and states that the money will be directly passed on to the shopper."We’re implementing a temporary surcharge on customer orders to help offset the increased cost of gas over the next month. This surcharge will add an additional $.40 on customer orders across our marketplace, with a clear indication of the fuel surcharge on the batch before you accept it.

COLOMBO (News 1st); Urban Sri Lankans have once again stepped out to the streets to protest against the government’s failure to secure the ailing economy of the country.What started off as a small vigil-like protest in the town of Kohuwala, not far from the Administrative Capital of Sri Jayewardenepura, has now spread to almost all urban areas surrounding the capita.On Saturday (19), anti-government protests took place in Kohuwala, Rajagiriya, Ja-Ela, Mount Lavinia and several other seas.

Ukraine becomes increasingly brutal, with Russian attacks killing and displacing civilians, experts say the international community is shifting its focus from sanctions to helping the Ukrainian military.That’s partly because the few remaining options that could have a significant impact on Russia’s economy — namely, a European ban on Russian oil and gas — are not feasible in the short term. It’s also becoming clearer that the sanctions, while devastating, are not swaying Russian President Vladimir Putin.“It’s not hurting (Russia) enough to make them stop,” said James Brander, a professor in international business and public policy at the University of British Columbia’s Sauder School of Business.“It’s hard to get to that level, whereas what’s really hurting the Russians right now is on the ground in Ukraine, where they’re running into a lot of military trouble.

Federal Reserve hiked interest rates on Wednesday for the first time since the 2020 outbreak of the Covid-19 pandemic and said there could be another six hikes this year if inflation remains high. This comes at a time when economists warn that if inflation does not begin to subside in response to these initial moves, policymakers will end up raising rates too high, sending the economy into a recession and financial markets into a slump, as per news agency ANI report.

PHILADELPHIA - Gas prices in the Delaware Valley continue to hover around $4 per gallon which has forced some people to seek alternative forms of travel to relieve the pain inflicted at the pump. Cars aren't the only thing going electric, electric bikes have also exploded in popularity since gas spiked to a record-setting $4.43 per gallon. The bikes have a range of 40-50 miles on a single charge and retail for around $1,500."As the gas prices as they increase people do cycle more," John Weniter from Cycle Fit said.

WASHINGTON - The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate and signaling up to seven rate hikes this year.The Fed's quarter-point hike in its key rate, which it had pinned near zero since the pandemic recession struck two years ago, marks the start of its effort to curb the high inflation that has followed the recovery from the recession. The rate hikes will eventually mean higher loan rates for many consumers and businesses.The central bank's policymakers expect inflation to remain elevated, ending 2022 at 4.3%, according to updated quarterly projections they released Wednesday.

WASHINGTON - Americans are one step closer to never having to "fall back" or "spring forward" with resetting their clocks after the U.S. Senate approved a measure that would make daylight saving time permanent. Senators on Tuesday unanimously voted for the Sunshine Protection Act, or S.623, sponsored by Sen. Marco Rubio of Florida.The proposed bill will now move to the House.

FILE IMAGE - A sign for the Lyft ride share pick-up area is seen on Aug. 20, 2020, at Los Angeles International Airport in Los Angeles, California.

Ukraine could have a serious impact on the conflict, experts warn. But it’s unlikely China will grant the reported Russian request, which Chinese leadership has denied they even received, and the Kremlin says was never made.“I don’t think China can afford to be a full-throated backer of Russia,” said Melinda Haring, deputy director of the Atlantic Council’s Eurasia Center.“Russia’s becoming increasingly isolated.

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PHILADELPHIA - If only just pennies, drivers in parts of the Delaware Valley have noticed that pumped up gas prices have started to dip ever so slightly from historic highs.According to AAA, the average price of a gallon of regular fuel in Pennsylvania was $4.42 on Monday; 10 cents higher than the national average. Driver in New Jersey paid $4.33 per gallon, and Delaware's gas prices sat at $4.21 on average. The average price for a gallon of gasoline in the U.S.

A Ukrainian serviceman stands guard on a street in front of a damaged church in the city of Irpin, northwest of Kyiv, on March 13, 2022. (DIMITAR DILKOFF/AFP via Getty Images) WASHINGTON - A U.S. official said Russia asked China for military equipment to use in its invasion of Ukraine, a request that heightened tensions about the ongoing war ahead of a Monday meeting in Rome between top aides for the U.S.

Millions of wild pigs are eating and destroying their way through Canada and the United States, causing billions in crop and ecological damage every year. Another concern is their ability to spread disease.

LOS ANGELES - Rideshare drivers have been hit hard with the recent spike in gas prices and soon rideshare customers could be impacted as well. The recent surge in gas prices has prompted Uber to add a fuel surcharge in order to help drivers and couriers struggling with the recent financial burden. "Beginning Wednesday, March 16, consumers will pay a surcharge of either $0.45 or $0.55 on each Uber trip and either $0.35 or $0.45 on each Uber Eats order, depending on their location—with 100% of that money going directly to workers’ pockets," Uber wrote in a press release. "We know that prices have been going up across the economy, so we’ve done our best to help drivers and couriers without placing too much additional burden on consumers. Over the coming weeks, we plan to listen closely to feedback from consumers, couriers and drivers.

COLOMBO (News 1st); Civil Air Transport Wing of Sri Lanka Air Force, Helitours was certified by the Civil Aviation Authority of Sri Lanka (CAASL) to provide domestic civil passenger & cargo transport facilities after full filling the necessary requirements recently.The Air Operator Certificate (AOC) was handed over by Capt. Themiya Abeywickrama, Director General of Civil Aviation & Chief Executive Officer to the Air Vice Marshal Prasanna Payoe, the Chief Executive Officer of Helitours.The entry of Helitours to the Sri Lanka air transport industry will be a catalyst to the national economy through the tourism industry.The Application submitted by Helitous was scrutinized by the Civil Aviation Inspectors of CAASL by considering the organizational structure, availability of qualified & well-trained staff, instruments/ equipment, and other required facilities & documents for the certification under the guidance of Capt.

Ukraine must hold off Russia’s attack for the next seven to 10 days to deny Moscow claiming any sort of victory, said a senior government official, as more than 2 million refugees fled the biggest assault on a European country since World War Two.Vadym Denysenko, adviser to Ukraine’s interior minister, said Russia was desperate for at least some kind of victory, citing the cities of Mariupol or the capital Kyiv as the most likely targets.“They need at least some victory before they are forced into the final negotiations,” Denysenko wrote on Facebook.“Therefore our task is to stand for the next 7-10 days.” U.S. rejects Poland’s offer to supply fighter jets to Ukraine, says it’s not ‘tenable’ Russia said it would provide humanitarian corridors on Wednesday for people fleeing Kyiv and four other Ukrainian cities.

COLOMBO (News 1st); Several Parliamentarians from the Samagi Jana Balavegaya, Sri Lanka’s main opposition faction, visited the Central Bank on Wednesday (9) to meet with Governor Ajith Nivard Cabraal.“Our meeting was strictly professional and not political,” said Dr. Harsha De Silva who attended the meeting, adding that the main focus was highlighting the suffering of the people in the present day.The Central Bank officials believe that the issue is short-term, and had no intention of moving towards the International Monetary Fund or other agencies to restructure Sri Lanka’s debt, said the MP.“The Central Bank officials are of the view that the issues will be short-lived and can be solved by obtaining more loans from China and other lending countries,” he added.Dr.

banned Russian oil imports.Prices at the pump were rising long before Russia invaded Ukraine and have spiraled faster since the start of the war. The U.S.

WASHINGTON - President Joe Biden has decided to ban Russian oil imports, toughening the toll on Russia’s economy in retaliation for its invasion of Ukraine, according to a person familiar with the matter."We're banning all imports of Russian oil and gas and energy. That means Russian oil will no longer be accepted at U.S. ports," the president announced on Tuesday.The move follows pleas by Ukrainian President Volodmyr Zelenskyy to U.S.

WASHINGTON - President Joe Biden has decided to ban Russian oil imports, toughening the toll on Russia’s economy in retaliation for its invasion of Ukraine, according to a person familiar with the matter.The move follows pleas by Ukrainian President Volodmyr Zelenskyy to U.S. and Western officials to cut off the imports, which had been a glaring omission the massive sanctions put in place on Russia over the invasion.

PHILADELPHIA - Gas prices around the globe continue to rise, causing pain at the pump for local drivers. RELATED: Average gas prices in Philadelphia area climb to around $4 per gallonAAA Mid-Atlantic reports that Sunday's average gas price in New Jersey hit $4.09 a gallon, breaking the old record of $3.99 set on July 8, 2008. The price is up 44 cents in the last week, 60 cents in the last month and $1.22 higher than a year ago, the company said.The Pennsylvania gas price average reached $4.17 per gallon Sunday, setting a new record high price for the region after breaking a 14-year record high Saturday, AAA said.

COLOMBO (News 1st); President Gotabaya Rajapaksa has decided to convene the Economic Council on a weekly basis with the objective of accelerating the economic growth in the country through the management of the entire economy by thoroughly discussing the local economic policies including macroeconomic policies, the behavior of the national economy after Covid – 19 pandemic situation, economic restructuring as well as the major development projects that directly affect the economic policies and financial policies of the government.The Cabinet of Ministers decided to grant their concurrence to the measures to be taken by the President to let implement the decisions taken by the relevant Ministries, Departments and Statutory institutions when necessary subject to the approval of the Cabinet of Ministers followed by the instructions and guidance of that Board as well as to invite intellects with esteem/standard in the respective fields as required for the meetings of the Economy board.Accordingly, the composition of the Economic Council is comprised as follows.• His Excellency the President Gotabhaya Rajapaksha (Chairman)• Prime Minister Mahinda Rajapaksa• Minister of Trade Bandula Gunawardhana• Minister of Highways Johnston Fernando• Minister of Finance Basil Rajapaksha• Minister of Agriculture Mahindananda Aluthgamage• Minister of Plantation Ramesh Pathirana• Governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal• Secretary to the President Gamini Senerath• Secretary to the Treasury S. R.

American Automobile Association says the easiest and most effective way to improve the fuel economy of your car is to modify and change driving habits.POTHOLE SEASON IS HERE! WINTER’S THAW MEANS DRIVERS WILL SUFFER BILLIONS OF DOLLARS IN DAMAGESMany of us start up our cars during cold weather to let them warm up before driving off, but AAA advises against that. To save fuel, start your car and let it run for about a minute and then hit the road.

data from AAA shows — and the figure is expected to soon surpass the all-time high reached in 2008. Gas is now a nickel shy of the highest-ever recorded average price, which was set on July 17, 2008, at $4.10 per gallon. On Monday, California had the highest average price per gallon among U.S. states at $5.34, while Missouri had the lowest at $3.627, according to AAA. Twenty U.S.

PHILADELPHIA - Gas prices around the globe continue to rise, causing pain at the pump for local drivers. RELATED: Average gas prices in Philadelphia area climb to around $4 per gallonAAA Mid-Atlantic reports that Sunday's average gas price in New Jersey hit $4.09 a gallon, breaking the old record of $3.99 set on July 8, 2008. The price is up 44 cents in the last week, 60 cents in the last month and $1.22 higher than a year ago, the company said.The Pennsylvania gas price average reached $4.17 per gallon Sunday, setting a new record high price for the region after breaking a 14-year record high Saturday, AAA said.

The worldwide chorus of condemnation against Russia is intensifying, with that country’s economy on the brink of collapsing. Jackson Proskow reports.

FILE A pump nozzle labeled "Super 95" is stuck in the tank opening of a vehicle at a gas station. (Photo by Sven Hoppe/picture alliance via Getty Images) WASHINGTON - Gas prices in the U.S.

WASHINGTON - U.S. employers added a robust 678,000 jobs in February, another gain that underscored the economy’s solid health as the omicron wave fades and more Americans venture out to spend at restaurants, shops and hotels despite surging inflation.The Labor Department’s report Friday also showed that the unemployment rate dropped from 4% to 3.8%, extending a sharp drop in joblessness as the economy has rebounded from the pandemic recession.The latest jobs data follows recent reports that have shown an economy maintaining strength as new COVID infections have plummeted since late January.

The Russian ruble sank to an historic low against the U.S. dollar on Monday, with analysts saying it was on the verge of a total collapse, forcing the central bank to step in, doubling its interest rate to 20 per cent. Anne Gaviola reports.

Bank of Canada is likely to forge ahead with its first interest rate increase in years on Wednesday, economists predict, though uncertainty tied to the war in Ukraine could put the pace of future rate hikes into question.The central bank said in January that its special guidance around the COVID-19 pandemic, which kept its key overnight rate at 0.25 per cent for much of the past two years, has ended.Senior bank officials strongly signalled rates need to rise in an effort to tamp down on inflation, which hit 5.1 per cent in Canada last month a high not seen in 30 years.

WASHINGTON - Madam Speaker, Madam Vice President, our First Lady and Second Gentleman. Members of Congress and the Cabinet. Justices of the Supreme Court.