Sawt Falasteen - Economy

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Featured

Indonesian stocks dive 11% as MSCI weighs market reclassification

Indonesian stocks plunged more than 11 percent Friday as index compiler MSCI said it was "no longer appropriate" to maintain the country's emerging-market status, fuelling fears of an exodus of foreign investment.

'Mixed feelings': AI cracks centuries-old ciphers

Napoleon Bonaparte ordered the wartime missive written in code, creating a puzzle that went unsolved for more than 200 years -- until AI cracked it in a matter of hours.

Last news

The gloves are off: explaining the Olympic boxing gender scandal

A scandal has engulfed the boxing at the Paris Olympics after an Algerian woman boxer who previously failed a gender eligibility test stopped her opponent after 46 seconds.

Tokyo spearheads equities selloff on US recession fears

Tokyo tanked Friday as it led losses across Asia due to a stronger yen and expectations for more Japanese rate hikes, with equities also slammed after weak data sparked fears of a US recession and a plunge on Wall Street.

AC Milan new maternity policy includes contract renewals

AC Milan announced on Friday a new maternity policy that guarantees automatic renewals in the final season contracts of its women's team, calling it a first among Europe's elite clubs.

Tokyo plunges as equity markets track Wall St on recession fears

Tokyo tanked as it led losses across Asia on Friday due to a stronger yen and expectations for more Japanese rate hikes, while disappointing data sparked a plunge on Wall Street and fuelled fresh fears of a US recession.

South Africa makes opera its own at home as its stars shine abroad

South African opera has developed its own uniquely local style -- both in the make-up of its casts and its dramatic themes -- in the three decades since the end of apartheid, experts argue.

Japan sees hottest July since records began

Japan sweltered through its hottest July since records began 126 years ago, the weather agency said, as extreme heatwaves fuelled by climate change engulfed many parts of the globe.

Tokyo tanks as Asian markets track Wall St down on recession fears

Tokyo led losses across Asia on Friday due to a stronger yen and expectations for more Japanese rate hikes, while disappointing data sparked a plunge on Wall Street and fuelled fresh fears of a US recession.

Japan schoolkids wilt in under-insulated classrooms

Pupils are wilting in ageing school buildings in Japan because poor insulation is cancelling out the effect of air conditioning, leading to drowsy kids and testy teachers.

Intel says it will slash workforce to cut costs

US chip maker Intel said Thursday it will slash more than 15 percent of its workforce as it streamlines operations.

Amazon quarterly profit doubles as cloud business grows

Amazon reported Thursday its profit in the recently ended quarter doubled to $13.5 billion with the help of renewed momentum of its AWS cloud computing business.

British Airways parent IAG drops bid for Air Europa

Airline giant IAG, owner of Spanish airline Iberia and British Airways, said Thursday it had dropped its bid to buy Spain's Air Europa due to the "current regulatory environment".

Edinburgh Fringe play reimagines JK Rowling trans row

A new play criticising Harry Potter author J.K. Rowling's views on transgender issues comes to the Edinburgh Festival Fringe on Thursday.

Wall Street stocks rise on Meta results, US rate cut hopes

Wall Street's main indices rose Thursday as investors welcomed strong earnings by tech titan Meta and basked in economic data that favours a September cut in US interest rates.

French cabbies seek payout for lost Olympics revenue

French taxi drivers on Thursday demanded government compensation for lost revenue during the Olympic Games as traffic disruptions and fewer regular clients weigh on demand.

Maersk ups profit target by $2bn on Red Sea shipping woes

Danish shipping giant Maersk said Thursday it expects its underlying profit in 2024 to be $2 billion higher than its previous forecast as freight rates have increased amid the crisis in the Red Sea.

Bank of England cuts rate for first time since pandemic

The Bank of England on Thursday cut its main interest rate for the first time since the Covid pandemic broke out in 2020, as British inflation has retreated in recent months.

BP to develop new oil and gas fields in Iraq

Iraq signed an agreement with British energy giant British Petroleum on Thursday to develop four oil and gas fields in the northern province of Kirkuk.

Olympics tech partner Atos posts huge loss

Debt-strapped French tech giant Atos, a key Olympics partner, on Thursday posted a 1.9-billion-euro ($2.1 billion) loss for the first half of the year due to a depreciation of assets and the end of contracts in the Americas.

South Korea union pickets outside Samsung chairman's house

Leaders of a South Korean union representing tens of thousands of workers at Samsung Electronics staged a protest Thursday outside the house of the company's chairman and heir, after fresh negotiations failed.

Weak yen helps Toyota compensate for Japan problems

Toyota reported a modest rise in first-quarter net profits on Thursday as a weak yen and cost cuts helped the Japanese auto giant overcome a drop in production and sales in its home market.

Bank of England to finally cut interest rate?

The Bank of England announces its latest interest-rate decision Thursday, with analysts split on whether it will cut for the first time since the Covid pandemic after inflation's retreat.

'Low-emissions' food leaves some Paris Olympics athletes craving meat

An ambition from Paris Olympics organisers to cut the carbon footprint of catering at this year's eco-friendly Games has run into a problem: the huge appetites of meat-loving athletes.

Meta shares rise after earnings top expectations

Meta on Wednesday reported profit of $13.5 billion in the recently ended quarter, beating market expectations and causing its share price to jump.

US Fed's Powell flags cuts 'as soon as' September

The US Federal Reserve left its key lending rate unchanged again on Wednesday, but signaled that it could make its first cut as soon as September.

US Fed remains on pause and notes 'some further progress' on inflation

The US Federal Reserve left its key lending rate unchanged again on Wednesday and said it had made "some further progress" in its inflation fight.

Boeing names new CEO as it reports hefty loss

Boeing named former Rockwell Collins chief Robert "Kelly" Ortberg its next CEO Wednesday, as the aviation giant reported a hefty loss on continued operational problems.

Yen rallies after Japan hikes rates, stocks rise before Fed

The yen rallied against the dollar Wednesday after the Bank of Japan hiked interest rates for just the second time in 17 years, while European and Asian stock markets rose on hopes for a cut in US borrowing costs.

European airport traffic returns to pre-Covid levels

Passenger traffic at European airports returned to pre-Covid levels in the first half of the year as the sector finally "turned the corner" on the pandemic crisis, the main industry association said on Wednesday.

Eurozone inflation unexpectedly rises in July

The eurozone's annual inflation rate unexpectedly edged up in July due to rising energy costs, official data showed on Wednesday.

Yen rallies after Japan hikes rates, stocks up as eyes turn to Fed

The yen rallied against the dollar Wednesday after Bank of Japan hiked interest rates for the second time in 17 years, while equity markets climbed on growing hopes for a cut in US borrowing costs.

World Bank approves $1.5 billion Ethiopia rescue package

The World Bank has approved a $1.5 billion financial package to support cash-strapped Ethiopia's economic reform programme after officials loosened curbs on the local currency.

Tanzania evicting tens of thousands of Maasai: HRW

Tanzania is forcibly evicting tens of thousands of Maasai from their ancestral lands, Human Rights Watch said in a report on Wednesday, claiming that government rangers beat some members of the community with impunity.

Sawt Falasteen - Economy (English)