The International Monetary Fund said on Tuesday discussions with Argentina on a new program are “advanced,” and that fund staff and its board have also met as part of the program’s proceedings. The IMF board was expected to meet on Tuesday, with Argentina’s qualification for a new program under the fund’s Exceptional Access Policy on the agenda, given that the country has borrowed beyond the fund’s regular lending limits. The…

The European Central Bank has issued a negative opinion on the application of so-called “Danish compromise” rules to the ongoing takeover by Banco BPM of Anima Holding. The Italian lender launched a buyout offer for the fund manager in November, contingent on the ECB allowing it to apply the Danish Compromise rules. These rules allow a bank to risk-weigh an insurance holding instead of deducting it in full from its…

British betting and gaming firm Evoke on Wednesday said its revenue growth rate would be slower in the first quarter than it had forecast for the full year, sending its shares tumbling even as it beat profit expectations for last year. Evoke forecast low single-digit percentage growth in first-quarter revenue, while reiterating expectations for annual revenue to grow 5%-9%, as it grapples with short-term hurdles related to regulatory curbs on…

A man who flew to Britain from Dubai to have sex with a 13-year-old girl he groomed online was relaxing in a hotel spa and wellness centre when he was arrested by police. Hamdan Alshamsi, 21, a university student from Abu Dhabi, met the vulnerable schoolgirl on the social media site Snapchat and bombarded her with messages for months. When she agreed to meet him, he flew to the UK and checked into a four-star…

Russia’s refusal to implement a ceasefire agreement with Ukraine in the Black Sea hinges on the lifting of international sanctions, a condition laid out by President Vladimir Putin following talks with the United States. In a dramatic twist to the ongoing conflict, Moscow has insisted that sanctions on Russian agriculture, fertiliser exports, and financial institutions be lifted before it will commit to the maritime truce. These demands were made clear…

The Duke of Sussex has stepped down from his charity, Sentebale, following a devastating breakdown in governance and trust within the organisation. In a deeply emotional statement released on Tuesday evening, Prince Harry revealed that he had resigned from his role at the helm of Sentebale, a charity he founded in 2006 in memory of his late mother, Diana, Princess of Wales. His resignation comes in solidarity with the charity’s…

Buckingham Palace on Tuesday said that King Charles III and Queen Camilla have postponed a planned state visit to the Vatican in early April following medical advice from Pope Francis’ doctors. “Medical advice has now suggested that Pope Francis would benefit from an extended period of rest and recuperation. Their Majesties send the pope their best wishes for his convalescence and look forward to visiting him in The Holy See,…

Britain gave the green light on Tuesday to a new 10-billion-pound ($13 billion) road tunnel for the River Thames in southeast England, in its latest backing for an infrastructure project to help revive a sluggish economy. The Labour government has put speeding up the planning process to deliver new energy and transport projects at the heart of its growth agenda since it was elected last year, backing expansion at London’s…

UK retail sales had slumped in March amid weak consumer confidence, according to the confederation of British industry latest distributive trades’ survey. This marked the sixth consecutive month of decline, with retailers expecting sales to fall again in April, but at a slower rate. The CBI’s retail sales balance fell to -41 in March from -23 in February. A balance is the weighted difference between the percentage of firms reporting…

Britain’s government on Tuesday pledged 2 billion pounds ($2.58 billion) to build up to 18,000 social and affordable homes in England as part of its efforts to deliver 1.5 million properties by the end of parliament and boost economic growth and social and affordable house building. Construction is set to start in March 2027, with an aim to finish building by 2029, by fixing house crises, the government said. Prime…

Britain’s Financial Conduct Authority is weighing changes to disclosure rules on mortgages, lending and savings products to give clearer information to consumers, as it prepares to unveil a new five-year plan to deepen trust and promote growth in UK financial services. The watchdog said on Tuesday it wanted to retire hundreds of pages of outdated guidance and supervisory publications as part of a broader plan to streamline demands on financial…

Britain had announced plans to invest 600 million pounds ($775 million) to train more construction workers and help tackle severe skills shortages that could undermine its plan to build 1.5 million homes by 2029 and boost economic growth. House Building and improving British infrastructure are key parts of the Labour government’s growth strategy. Construction represents around 6% of gross domestic product,but underpins growth in other sectors. “We are determined to…