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Sri Lanka’s president revokes state of emergency amid economic crisis

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Sri Lanka’s President has revoked a state of emergency after a number of lawmakers walked out of government

The ruling coalition was left in a minority in parliament scrambling to repress protests amid the country’s worst economic crisis this century.

This comes only days after the Finance Minister resigned just before he was scheduled to discuss a loan programme with the International Monetary Fund.

The former MP wrote to the president saying that he believed he had “acted in the best interests of the country”.

The president was aiming to form a unity government in response to public unrest fuelled by food and fuel shortages.

Sri Lanka‘s health system is also at risk of collapsing as medical supplies run low.

It’s predicted that a new prime minister may be elected to replace the president’s brother who is currently in that role or a snap election is also on the cards 3 years earlier than scheduled.

Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.

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Leaders

Elon Musk is projected to become the world’s first trillionaire

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Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, is projected to achieve an unprecedented financial milestone by becoming the world’s first trillionaire by 2027.

Currently the richest person alive, Musk holds a staggering net worth of $251 billion, with Tesla playing a major role in his fortune.

At this rate, experts predict his wealth could skyrocket, reaching the trillion-dollar milestone in just three years.

Tesla itself is growing at a remarkable pace, with a market value nearing $670 billion. #featured #trending

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Money

Treasury Secretary believes the U.S. are on track for a “safe landing”

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Treasury Secretary Janet Yellen pointed to a “soft landing” for the economy, with unemployment slightly down despite slower job creation.

In a recent interview on Bloomberg, Yellen stated that “For the US, the kinds of metrics that we would monitor that would summarise risks — whether it’s asset valuations or a good degree of leverage — things look good, I don’t see red lights flashing”. #featured #trending

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Leaders

Trump promises to slap unprecedented tariffs on foreign allies

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Former President Donald Trump has promised to slap unprecedented Tariffs on foreign allies, including the European Union, if he wins the 2024 presidential election.

Trump pledged to reduce the corporate tax rate from 21% to 15% for companies that make their products in the U.S.

While he had already said he wanted to cut the corporate tax rate to 15%, he had not previously tied that lower rate to keeping manufacturing inside the country. #featured #trending

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