Daily Archives: March 6, 2024
Egypt Says It Reached Deal With IMF to Increase Bailout Loan
CAIRO — Egypt said Wednesday it has reached a deal with the International Monetary Fund to increase a bailout loan to $8 billion. Prime Minister Moustafa Madbouly announced the news in televised comments on Wednesday. Egypt has for months negotiated with the IMF to increase a $3 billion bailout loan that both parties reached in 2022. Madbouly said the new deal will enable the government to receive loans from other financial institutions, including the World Bank. The announcement came hours after Egypt’s Central Bank raised its main interest rate and floated …
Europe’s Digital Markets Act is Forcing Tech Giants to Make Changes
LONDON — Europeans scrolling their phones and computers this week will get new choices for default browsers and search engines, where to download iPhone apps and how their personal online data is used. They’re part of changes required under the Digital Markets Act, a set of European Union regulations that six tech companies classed as “gatekeepers” — Amazon, Apple, Google parent Alphabet, Meta, Microsoft and TikTok owner ByteDance — will have to start following by midnight Wednesday. The DMA is the latest in a series of regulations that Europe has passed …
Meta’s Facebook, Instagram Back Up After Global Outage
Washington — Meta-owned Facebook and Instagram were back up on Tuesday after a more than two-hour outage that was caused by a technical issue and impacted hundreds of thousands of users globally. The disruptions started at around 10:00 a.m. ET (1500 GMT), with many users saying on rival social media platform X they had been booted out of Facebook and Instagram and were unable to log in. “We are aware of the incident and at this time, we are not aware of any specific malicious cyber activity at this time,” a …