The U.S. government seized a mega yacht in Spain owned by an oligarch with close ties to the Russian president on Monday, the first in the government's sanctions initiative to "seize and freeze" giant boats and other pricey assets of Russian elites.

Spain's Civil Guard and U.S. federal agents descended on the yacht at the Marina Real in the port of Palma de Mallorca, the capital of Spain's Balearic Islands in the Mediterranean Sea. Associated Press reporters at the scene saw police going in and out of the boat on Monday morning.

Sri Lanka's president asked opposition parties to form a unity government on Monday after his Cabinet resigned amid public protests over the country's worst economic crisis in memory and deepening mistrust in his leadership.

All 26 ministers of the Rajapaksa government handed in their resignations Sunday night after thousands of people held street protests denouncing the government despite a countrywide state of emergency and a curfew.

Global shares were mixed Monday, with European stocks mostly lower after a day of gains in Asia.

Paris, Frankfurt, Tokyo and Hong Kong rose. London was little changed. Shanghai was closed for a holiday.

Tesla CEO Elon Musk has taken a 9.2% stake in Twitter, purchasing approximately 73.5 million shares, according to a regulatory filing Monday.

Musk's stake in Twitter is considered a passive investment, which means Musk is a long-term investor that's looking to minimize his buying and selling of the shares.

BMW has halted production at two German factories. Mercedes is slowing work at its assembly plants. Volkswagen, warning of production stoppages, is looking for alternative sources for parts.

For more than a year, the global auto industry has struggled with a disastrous shortage of computer chips and other vital parts that has shrunk production, slowed deliveries and sent prices for new and used cars soaring beyond reach for millions of consumers.

Iraq, once synonymous with conflict and chaos, is becoming a land of opportunity for Lebanese job-seekers fleeing a deep economic crisis back home.

Akram Johari is one of thousands who fled Lebanon's tumbling currency and skyrocketing poverty rates.

The Muslim holy month of Ramadan -- when the faithful fast from dawn to dusk -- began at sunrise Saturday in much of the Middle East, where Russia's invasion of Ukraine has sent energy and food prices soaring.

The conflict cast a pall over the holiday, when large gatherings over meals and family celebrations are a tradition. Many in the Southeast Asian nation of Indonesia planned to start observing Sunday and some Shiites in Lebanon, Iran and Iraq were also marking the start of Ramadan a day later.

Israel and the United Arab Emirates said Friday they had agreed on the terms of a free trade agreement to boost commercial relations following their normalization of ties.

Israel described as "historic" the deal abolishing customs duties on "95 percent of the products" exchanged between the Jewish state and Gulf Arab country.

Inflation in Europe soared to another record, according to new EU figures released Friday, in a fresh sign that rising energy prices fueled by Russia's war in Ukraine are squeezing consumers and adding pressure on the central bank to raise interest rates.

Consumer prices in the 19 countries that use the euro currency rose by an annual rate of 7.5% in March, according to the European Union statistics agency, Eurostat.

The European Union's executive arm is proposing that the 27-nation bloc's countries allow the millions of refugees fleeing the war in Ukraine to exchange their hryvnia banknotes into the currencies of host member nations.

The European Commission said Friday its proposal aims at promoting a coordinated approach within the region.