Hello, I'm Jerry Smit with the BBC news.

In a decision keenly anticipated in America and around the world, the US Federal Reserve has raised interest rates for the first time since the global financial crisis. The US central bank lifted its key short-term rate by a moderate 0.25%. From Washington, here is Michelle Fleury.

“For the past seven years, US borrowing costs have been held low to revive a sick US economy brought to its knees by a banking crisis. Now the patient is returning to health. The Fed chairwoman Janet Yellen said the decision to raise rates reflected America's renewed vigor. The increase was well telegraphed, but as always with financial markets, attention immediately turns to what the world's important central bank will do next.”

The United States and Cuba have reached an understanding to allow regular commercial flights between them. Negotiators said an official announcement on the issue was imminent. Scheduled flights will ease journeys for US citizens wanting to visit Cuba. Until now they've had to make complicated arrangements or travelled via third countries. From Havana, here is Will Grant.

“The move to restore commercial flights between the US and Cuba coincides with the first anniversary of the announcement of an end to hostilities between the old enemies. In some regards, it is one of the most significant steps of the past 12 months and it will further facilitate the arrival of American visitors to Cuba. With tourism increasingly becoming the main economic motive for the communist run island, it comes as a little surprise that the Cuban government was as keen on these particular measures as their counterparts in Washington.”

Argentina is ending the foreign exchange restrictions that have propped up the value of peso for the last four years. The finance minister Alfonso Prat-Gay said the old system had restricted economic growth. And he would now allow business to buy many dollars as they needed. But ordinary Argentines will still face some restrictions. The peso is now expected to fall in value. The current black market rate is much lower. And the central bank has been given the powerto intervene if it depreciates too quickly.

The United Nations secretary general Ban Ki-moon has said Burundi is on the brink of civil war. In a news conference in New York, Mr. Ban described the political violence in Burundi in recent days as chilling. “I am alarmed by the escalating violence in Burundi. What we have seen over the past few days ischilling. The country is on the brink of civil war. That risks engulfing the entire region. I have asked Mr. Jamal Benomar, my special adviser, to go to the region before the end of this week to speak to the African Union, the countries in the region, and of course the government of Burundi.”

World news from the BBC.

The United Nation's Children's Agency UNICEF says 16 million babies were born in war zones this year. That's 1/8 of all births. The agency warns that there was an increased likelihood that these children will die before they turn five and those that did survive might suffer what's been termed toxic stress,longterm damage to their emotional development.

The trial of a US police officer charged in connection with the death of Freddie Gray, a black man who died in police custody in Baltimore has been abandoned after the jury were unable to reach a verdict. The judge ruled a mistrial after two and half days of deliberation. A hearing was scheduled for Thursday to discuss a possible retrial. Mr. Gray died in April after suffering a broken neck while in a police van. Baltimore's mayor Stephanie Rawlings-Blake urges protesters gathering in the city to remain peaceful. “All of us, if we believe in justice, must have respect for the outcome of the judicial process. Twelve Baltimore city residents answered the solemn call to serve. They listened to the evidence presented and they rendered a decision. If some choose to protest,then peacefully demonstrate. That is their right.”

Hundreds of demonstrators in the Dutch town of Geldermalsen have disrupted a meeting at the local council which are convened to decide whether to build a new center for asylum seekers. The protesters tore down fences and threw fireworks on the police. Thousands of refugees and migrants have entered the Netherlands this year.

Kuwait Airways is no longer selling tickets for flights between New York and London after the US Department of Transport threatened legal action against theair line's policy of not allowing Israelis to board its planes. Kuwait law prohibits its citizens entering into an agreement with the Israelis.

BBC news.