Sawt Falasteen - Economy

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Featured

US, Canada fail to reach trade pact to avert Trump tariffs

Hefty US tariffs on some Canadian products took effect on Saturday after days of negotiations that went down to the wire failed to produce an agreement.

Arctic shipping a daunting prospect in hotly contested region

With Gulf turmoil slashing Suez Canal traffic, shipping firms are tempted to try the Arctic for quicker trips between Europe and Asia -- but commercial prospects are unlikely to match countries' strategic ambitions for the North Pole.

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US senators struggle for off-ramp as shutdown kicks in

The United States entered a government shutdown Wednesday with President Donald Trump and Democrats in an acrimonious stand-off and banking on the other side to blink first in what could be a prolonged crisis.

Two pulled from Indonesia school collapse as rescuers race against time

Rescuers pulled two survivors from a collapsed school in Indonesia on Wednesday as frantic parents demanded searchers speed up efforts to find dozens of children believed still trapped in the rubble two days on.

Russia says situation at Zaporizhzhia nuclear plant under control

The situation at the Russia-occupied Zaporizhzhia nuclear plant in Ukraine is "under control", the Moscow-installed operator said Wednesday, a day after Ukrainian President Volodymyr Zelensky warned it was "critical" following a week-long power cut.

European stocks rise, Wall St futures drop as US shutdown begins

European stocks and gold prices rose, while Wall Street futures fell on Wednesday as the US government shut down after lawmakers failed to reach a funding deal.

Thousands protest in Greece over 13-hour workday plans

Thousands of Greek workers prompted large-scale disruption during a 24-hour general strike on Wednesday, protesting against the conservative government's plans to introduce a 13-hour work day.

Spanish court opens 550-mn-euro Meta data protection trial

A Spanish court opened a trial on Wednesday over a 550-million-euro lawsuit brought by more than 80 Spanish media organisations against Facebook owner Meta for allegedly breaching European Union data protection rules.

Gold hits record, Wall St futures drop as US shutdown begins

Gold hit a record high and Wall Street futures fell with the dollar Wednesday as the US government shut down after lawmakers failed to reach a funding deal, though most Asian and European markets edged up.

US govt shutdown begins after Congress fails to reach deal

The US government began shutting down Wednesday after lawmakers and President Donald Trump failed to break a budget impasse during acrimonious talks that hinged on Democratic demands for health care funding.

Taiwan says 'will not agree' to making 50% of its chips in US

Taiwan "will not agree" to making 50 percent of its semiconductors in the United States, the island's lead tariff negotiator said Wednesday, as Washington pressures Taipei to produce more chips on US soil.

Gold hits record, Wall St futures drop as US heads for shutdown

Gold hit a record high and Wall Street futures fell Wednesday as the US government went into shutdown after lawmakers in Washington failed to reach a deal to keep it funded, though most Asia markets held gains.

General strike in Greece over 13-hour workday plans

Greece will grind to a halt on Wednesday in a 24-hour general strike against plans by the conservative government to introduce a 13-hour workday.

Spanish court to start hearing media case against Meta

A Spanish court will open a trial on Wednesday over a 550-million-euro lawsuit brought by more than 80 Spanish media organisations against Facebook owner Meta for allegedly breaching European Union data protection rules.

Asian stocks mixed, Wall St futures drop as US heads for shutdown

Asian markets stuttered, US futures fell and gold hovered near record highs Wednesday after lawmakers in Washington failed to reach a deal to avert a government shutdown.

South Korea posts record semiconductor exports in September

South Korea recorded its highest ever semiconductor exports in September, official data showed Wednesday, despite growing pressure from US tariffs and other restrictions on the crucial sector.

Saudi Electricity Company Appoints Eng. Khalid Bin Salem AlGhamdi as Chief Executive Officer

OpenAI launches Sora 2 with TikTok-style app

OpenAI on Tuesday released Sora 2, its most advanced video generation model yet, alongside a TikTok-style social app that will let users insert themselves into AI-created scenes through a feature called "cameos."

Nike shares rally on progress in turnaround

Nike reported a surprise increase in quarterly sales Tuesday, pointing to progress on a turnaround as it forecast a bigger cost hit from US tariffs.

Stars align for Louis Vuitton, Stella McCartney at Paris Fashion Week

Louis Vuitton showcased a collection of flouncy skirts and sculptural ruffles in front of a star-packed audience while Stella McCartney had war and peace on her mind for her show on day two of Paris Fashion Week on Tuesday.

Dow ends at record as US stocks shrug off shutdown risk

The Dow finished at a fresh record Tuesday as markets largely shrugged off the likelihood of a partial US government shutdown due to a stalemate on budget talks.

Board of Spain's Sabadell bank rejects improved BBVA takeover bid

The board of Spanish bank Sabadell on Tuesday rejected larger national rival BBVA's improved hostile takeover bid as 10 days remain for shareholders to make a final decision.

US stocks slip as government shutdown looms

US stock markets edged lower and gold retreated from a record high on Tuesday as traders steeled themselves for a possible US government shutdown.

US stocks fall as government shutdown looms

US stock markets edged lower and gold retreated from a record high on Tuesday as traders steeled themselves for a possible US government shutdown.

Brigitte Bardot slams Saint-Tropez after decades in jet-set port

Saint-Tropez's most famous resident, French screen siren Brigitte Bardot, has slammed the Riviera resort as a billionaires' playground where "nothing remains of what made it charming".

Spotify founder Daniel Ek to give up CEO role

Spotify co-founder Daniel Ek will step down as CEO on January 1 and become executive chairman, handing the reins to two of his deputies in a leadership shake-up, the music streaming giant said Tuesday.

EU green lights Prada's bid for Versace

The EU on Tuesday cleared Italian fashion label Prada's 1.25-billion-euro ($1.5-billion) purchase of rival Versace after finding the acquisition raised no competition concerns.

Gold hits record, dollar drops as US shutdown looms

Gold prices hit another record high, the dollar dropped and stock markets traded mixed Tuesday as traders prepared for a possible US government shutdown that could disrupt the release of key economic data.

Taliban internet cut sparks Afghanistan telecoms blackout

Afghanistan faced a second day without internet and mobile phone service on Tuesday, after Taliban authorities cut the fibre optic network.

Gold hits record, stocks mixed as US shutdown looms

Gold hit another record Tuesday, while equity markets were mixed as traders prepared for a possible US government shutdown that could affect the release of key economic data, though hopes for more Federal Reserve interest rate cuts provided support.

San Siro on course for demolition after sale to Inter and AC Milan approved

One of the world's most famous stadiums is set for demolition after Milan city hall early Tuesday approved the sale of San Siro, nicknamed football's La Scala, to the city's two football giants.

Taliban impose communications blackout across Afghanistan