Sawt Falasteen - Economy

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Featured

Hungary's dwindling paprika producers battle to save signature spice

Working from before dawn until midnight, farmers Nikoletta Pajsan Nagy and Laszlo Pajsan fought Europe's driest summer ever to save their red pepper harvest in Hungary.

Without lawyers, migrant children face deportation from the US

A one-year-old toddler stumbles around an immigration court in Louisiana, crying. He throws a toy that nearly hits a prosecutor.

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AI data centre supplier Zhongji InnoLight falls on Hong Kong debut

Shares in China's Zhongji InnoLight fell in the first few minutes of its Hong Kong debut Thursday, after raising at least US$6.8 billion in the city's biggest IPO since 2019.

South Korea's women web sleuths fight AI deepfake porn

Under banners emblazoned "Solidarity" and "We stand together with victims", a group of South Korean women digital detectives dredges the internet for a scourge of illegal AI-enabled pornography.

Samsung operating profit up 1,800% in second quarter on AI boom

South Korean technology giant Samsung Electronics posted on Thursday a massive 19-fold jump in second-quarter operating profit from last year, buoyed by sustained AI-driven demand for memory chips.

Japanese population below 120 million for first time in decades

The number of Japanese people living in the country has fallen below 120 million for the first time in 42 years, government data showed Wednesday, as the nation confronts a low birth rate and an ageing society.

Meta misses profit expectations, sticks to massive AI spending

Facebook-parent Meta reported profits on Wednesday that fell short of Wall Street expectations, as the cost of staying in the race to deploy artificial intelligence -- along with hefty legal and severance charges -- hurt its bottom line.

Oil prices surge while US stocks fall as Fed keeps rates unchanged

Wall Street stocks finished sharply lower Wednesday after the Federal Reserve kept interest rates unchanged despite lofty US inflation as escalations in the Middle East war pushed oil prices skyward.

US Fed holds interest rates steady as 'family fight' sees hawks call for hike

The US Federal Reserve held interest rates steady on Wednesday, with Chair Kevin Warsh lauding a "family fight" that saw three policymakers dissent in calling for a rate hike to combat surging inflation.

Campari - king of the spritz - hopes to conquer American heartland

Whether made with Aperol, Campari or Sarti, the spritz has rapidly established itself on terraces across Europe -- with Italy's Campari Group now hoping to conquer the heart of America.

US Federal Reserve holds rates steady as inflation hawks call for hike

The US Federal Reserve held interest rates steady on Wednesday, with surging inflation fueled by President Donald Trump's war on Iran seeing three of the committee's 12 policymakers calling for a quarter-percentage-point rate hike.

Air France-KLM and Lufthansa bid for Portugal's TAP airline

Both Air France-KLM and Lufthansa said Wednesday they had submitted bids to acquire a controlling stake in TAP Air Portugal that is being re-privatised.

Profits soar at Airbus as it delivers more planes

Airbus said Wednesday its net profit soared 47 percent in the first half of the year thanks to increased delivery of aircraft as well as higher sales by its defence unit.

OpenAI says rogue AI agent attack hit other companies

ChatGPT maker OpenAI has revealed that an autonomous artificial intelligence agent which hacked a popular platform for computer programmers also attempted to breach four other companies during the incident.

Rheinmetall shares surge after armsmaker reports record profit

German weapons manufacturer Rheinmetall on Wednesday reported record second-quarter core profit, beating analyst expectations, sending shares in the firm up almost nine percent.

UBS second-quarter net profit up 17% to $2.8 billion

Swiss banking giant UBS reported Wednesday that net profit rose 17 percent to $2.8 billion in the second quarter, driven by investment banking.

FIFA hit by furious backlash over plans to sell stake in competitions

There was a furious backlash on Wednesday to FIFA's controversial plans to sell a stake in the business operations of the World Cup and its other competitions through the creation of a private subsidiary.

TRX Spot and Perpetuals Listing Launches on Backpack, Expanding Access to the TRON Ecosystem

TRON DAO, the community-governed DAO dedicated to accelerating the decentralization of the internet through blockchain technology and decentralized applications (dApps), today announced the listing of TRX spot trading and perpetual contracts on Backpack Exchange. The listing expands market support and access to the native utility token of the TRON network, one of the industry's most actively used blockchain ecosystems.

MEXC Integrates World-Check to Fortify Institutional Grade Compliance Architecture

“In a rapidly maturing digital asset market, relying on fragmented risk data is a critical vulnerability. Building a resilient ecosystem demands institutional-grade intelligence.”

Tech stocks plunge further but London market hits record high

Global stock markets largely retreated Wednesday, with South Korea's index suffering one of its steepest plunges as investors further unwound bets on the AI boom.

FIFA's plans to sell $4.2bn stake in its tournaments widely criticised

CONCACAF followed UEFA on Wednesday by criticising FIFA's controversial plans to sell a stake in the business operations of the World Cup and its other competitions through the creation of a semi-private subsidiary.

Russia seeks arrest of Telegram chief Durov

Russia announced on Wednesday that it was seeking the arrest of Telegram founder Pavel Durov over accusations of "complicity in terrorism", alleging he had let the platform be used for recruitment by Ukraine's security services.

BMW aims to cut 8,000 jobs by end 2027: company source

Premium carmaker BMW is to offer almost half its German staff voluntary redundancy in a bid to cut 8,000 jobs by the end of 2027, a company source told AFP Wednesday.

South Korean stocks plunge as tech rout deepens, oil rises

South Korean stocks suffered one of their steepest plunges on Wednesday, with the blood-letting that has battered chip firms over the past month deepening as nervous investors unwound their bets on the AI boom.

On London streets, homeless wary at PM's vow to end rough sleeping

In a small square in central London, Kevin was hawking copies of the Big Issue, a charitable magazine sold by homeless street vendors.

UBS says second-quarter net profit up 17% to $2.8 billion

Swiss banking giant UBS reported Wednesday that net profit rose 17 percent to $2.8 billion in the second quarter, driven by its investment banking arm.

South Korean stocks collapse amid Asian tech rout

South Korean stocks suffered one of their steepest plunges Wednesday, with the blood-letting that has battered chip firms over the past month deepening as nervous investors unwound their bets on the AI boom.

Crude jumps on fresh Mideast flare-up, tech rout deepens

Oil prices spiked Wednesday after a fresh flare-up of fighting in the Middle East that revived fears over supplies through the Strait of Hormuz, while chip firms continued to bleed as nervous investors unwound their bets on the AI boom.

SK hynix posts 1,200% net profit boost on AI chip boom

South Korea's SK hynix said Wednesday second-quarter net profit soared a whopping 1,242 percent year-on-year, driven by the artificial intelligence industry's explosive demand for its advanced memory chips.

Senate advances sweeping Russia sanctions bill

The US Senate advanced sweeping sanctions legislation targeting Russia's energy revenues Tuesday, as Ukrainian President Volodymyr Zelensky visited Washington to press for stronger action against Moscow.

US government bans humanoid robots manufactured abroad

US President Donald Trump's administration on Tuesday added humanoid and quadruped robots to a list of products and companies that are banned from being imported into the United States on national security grounds.

Mixed day for global stocks but oil prices fall along with chip shares

Wall Street stocks mostly rose Tuesday behind solid earnings and a pullback in oil prices, offsetting weakness in chip shares and in Asian equity markets.

Spain lets wildfire evacuees return but France fears flames spreading

Spanish residents forced to flee some of the worst wildfires in living memory began returning to their homes on Tuesday but thousands more were ordered to leave in France over fears that a looming heatwave would prevent containment of fires that have ripped through the country's southwest.

AI glasses help propel EssilorLuxottica sales growth

Sales of AI-enabled eyeglasses, which have nearly doubled since last year, helped EssilorLuxottica accelerate second-quarter growth, the world's largest maker of eyeglasses reported Tuesday.

Sawt Falasteen - Economy (English)