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Salam once again defends controversial tax hike

Prime Minister Nawaf Salam said Friday that telling people the truth is not a choice but a must, as he defended new taxes approved earlier this week by his government.

"The financial situation we inherited is very difficult and the trust between the state and the people was damaged in the past," he said, vowing that "this won't happen again."

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US Inflation rose more quickly than expected in December

A key inflation gauge accelerated in December to the fastest pace in nearly a year, showing how prices are still rising more quickly than most Americans would prefer — and faster than the Federal Reserve's target of 2% a year.

Prices rose 0.4% in December from the previous month, up from 0.2% in November, the Commerce Department said Friday in a report that was delayed by the six-week government shutdown last fall. The monthly increase was the highest since last February. Compared with a year ago, inflation rose 2.9% in December, up from 2.8% in November. That is the largest yearly increase since March 2024.

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German leader to make 1st visit to China as country seeks 'right balance' in ties

German Chancellor Friedrich Merz will make his first visit to China next week since taking the helm of Europe's biggest economy, as he tries to position the country to a world in which assertive great powers play an increasingly dominant role.

Merz will be received in Beijing on Wednesday by Premier Li Qiang and Chinese leader Xi Jinping, government spokesperson Sebastian Hille said Friday. He will also visit Hangzhou in southeastern China.

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Saudi Arabia may have uranium enrichment under proposed deal with US

Saudi Arabia could have some form of uranium enrichment within the kingdom under a proposed nuclear deal with the United States, congressional documents and an arms control group suggest, raising proliferation concerns as an atomic standoff between Iran and America continues.

U.S. Presidents Donald Trump and Joe Biden both tried to reach a nuclear deal with the kingdom to share American technology. Nonproliferation experts warn any spinning centrifuges within Saudi Arabia could open the door to a possible weapons program for the kingdom, something its assertive crown prince has suggested he could pursue if Tehran obtains an atomic bomb.

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Supreme Court strikes down Trump's sweeping tariffs

The Supreme Court struck down President Donald Trump's far-reaching global tariffs on Friday, handing him a significant loss on an issue crucial to his economic agenda.

The 6-3 decision centers on tariffs imposed under an emergency powers law, including the sweeping "reciprocal" tariffs he levied on nearly every other country.

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Sponsors are more visible at Winter Olympics with product placement and arena shoutouts

Eileen Gu and all the other freestyle skiers wait for their scores by a large Powerade-branded cooler, then glide away without taking a drink.

Bottles of the blue sports drink are stacked in hockey penalty boxes. Even the tissues in figure skating's drama-packed "Kiss and Cry" area are branded.

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Japan's reelected leader wants to cooperate with US in rare earths development

Japanese Prime Minister Sanae Takaichi on Wednesday expressed hopes of deepening her relationship with U.S. President Donald Trump and strengthen cooperation between the two countries in rare earths development and other areas of economic security when she visits Washington next month.

Takaichi, at a news conference late Wednesday, expressed hopes to strengthen cooperation with the U.S., especially in economic security, as tensions between Tokyo and Beijing have risen over the last few months.

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U.S. trade deficit slipped to $901 billion last year amid Trump tariffs

The U.S. trade deficit slipped modestly in 2025, a year in which President Donald Trump upended global commerce by slapping double digit tariffs on imports from most countries.

The gap the between the goods and services the U.S. sells other countries and what it buys from them narrowed to just over $901 billion from $904 billion in 2024, the Commerce Department reported Thursday.

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Indonesia tightens control on nickel as US and China scramble for critical minerals

Indonesia is tightening state control over the world's largest nickel supply after years of betting the metal would anchor a homegrown electric-vehicle industry, and just as global demand begins shifting away from heavy reliance on nickel.

The move could still ripple through global EV supply chains as the United States and China compete for critical minerals. Indonesia sits at the center of the nickel market: its share of global supply jumped to about 60% in 2024 from 31.5% in 2020, according to S&P Global Market Intelligence, after former President Joko Widodo banned raw ore exports, drawing a surge of Chinese-backed investment into refining.

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Japan's exports surge 17% in January, on strong shipments to China, Asian markets

Japan's exports surged nearly 17% in January from a year earlier, lifted by seasonal factors and strong demand in China and other Asian markets.

Imports slipped 2.5% from the same month a year earlier to 10.3 trillion yen ($67 billion), while exports climbed 16.8% to 9.19 trillion yen ($59.8 billion), the Finance Ministry reported Wednesday.

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