WASHINGTON -- The U.S. Federal Reserve on Wednesday raised its target federal funds rate by 25 basis points to a range of 3.75 percent to 4 percent to address persistent inflation, marking its first interest rate hike since July 2023.
"Economic activity is expanding at a solid pace. While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient. Productivity growth is strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little," said the Federal Open Market Committee (FOMC) in a statement. (US-Fed-Interest Rate)
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KATHMANDU -- The death toll from the devastating mudslide in Nepal has reached 1,403, while 6,150 people remain missing, the National Disaster Risk Reduction and Management Authority said on Wednesday.
Four bodies and a body part were recovered from a tunnel of the Chilime Hydropower Project in Rasuwa district on Wednesday, as search and rescue operations continued. (Nepal-Mudslide-Deaths)
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GAZA -- The death toll from the collapse of a residential building in western Gaza City rose to 21, including 11 children and six women, with more than 25 injured, local officials and residents said Wednesday.
The six-story Al-Saada building, previously damaged by Israeli bombardment, collapsed in the early hours of Wednesday near the headquarters of the UN Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), according to civil defense spokesperson Mahmoud Basal. (Gaza-Collapsed Building-Casualties)
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JERUSALEM -- Israel and Morocco agreed to upgrade their diplomatic missions to full embassies and appoint ambassadors as part of measures to deepen ties, Israel's foreign ministry said on Wednesday following a trilateral meeting in New York with U.S. officials.
Israeli Foreign Minister Gideon Sa'ar and Moroccan Foreign Minister Nasser Bourita also agreed to conclude investment protection and double-taxation agreements by the end of 2026 and expand direct flights to include Moroccan airlines, the Israeli ministry said in a statement. (Israel-Morocco-Diplomatic Ties)
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CARACAS -- Venezuela and Britain have agreed to upgrade their diplomatic relations, Venezuela's Foreign Ministry said Tuesday.
"Following talks between authorities of both countries, it has been agreed to raise the level of bilateral relations with the Government of the United Kingdom of Great Britain and Northern Ireland," said a statement released by Venezuelan Foreign Minister Felix Plasencia. (Venezuela-Britain-Relations) Enditem
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