Sawt Falasteen - Economy

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Featured

Millions may be forced to move as climate change hits South Asia: UN

Climate change is threatening livelihoods and forcing people from their homes across South Asia, but technology and government action could help limit the damage, the UN migration chief told AFP on Friday.

Thai farmers, fishermen challenge IMF, World Bank at Bangkok rally

Thai farmers, fishermen and workers marched through Bangkok Friday as global finance and business leaders gathered for IMF and World Bank meetings, demanding a say in policies shaping their livelihoods.

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Pakistan pledges $7 billion IMF aid deal will be its last

The International Monetary Fund has agreed to loan Pakistan $7 billion to bolster its faltering economy, with Islamabad pledging Saturday it would be the last time it relied on relief from the Washington-based lender.

Meta lifts restrictions on Trump's Facebook and Instagram accounts

Meta said Friday it was lifting restrictions on US presidential candidate Donald Trump's Facebook and Instagram accounts, ending measures put in place after his supporters violently stormed the US Capitol in 2021.

China launches online crackdown on 'harmful' content targeting children

China on Saturday announced a new crackdown on its tightly controlled internet, taking aim at video apps and social media platforms to purge content deemed harmful to children.

Crucial farm jobs dry up in drought-stricken Morocco

In a sun-baked village north of Morocco's capital Rabat, Mustapha Loubaoui and other itinerant workers wait idly by the roadside for farm work made scarce by a six-year drought.

US stocks flirt with fresh records, rebounding yen hits Nikkei

Global stock markets mostly powered ahead on Friday, lifting the Dow above 40,000 and near a fresh record despite disappointing US inflation data and a lackluster market reaction to American bank earnings.

Southwest Airlines unveils electric air taxi venture

US carrier Southwest Airlines plans to jointly develop a fleet of electric air taxis to serve the California market with transportation startup Archer Aviation, the companies announced Friday.

Musk's X misleads users with blue checks, EU charges

Tech billionaire Elon Musk's X platform is deceiving users with its blue checkmarks for certified accounts, and is also violating EU content rules, Brussels said Friday, in a finding that could lead to hefty fines.

Mixed profits at US banks amid weaker signs from low-income customers

JPMorgan Chase and Citigroup reported increased second-quarter profits Friday despite somewhat higher costs to account for bad loans in light of greater stress on lower-income customers.

Global stock markets mostly advance, Tokyo tanks as yen rebounds

Global stock markets mostly advanced on Friday as traders increasingly expect the US Federal Reserve to cut interest rates.

Cheers! England's pubs toast sales boost due to Euro final

UK pubs packed with England football fans hoping their team beats Spain in Sunday's Euro 2024 final will toast a near £50-million ($65-million) sales boost, an industry body forecast.

Rwandan mother aims to prove that politics is for all

Her three-month-old daughter swaddled on her back, Jeanne d'Arc Nyiramahirwe is determined to make her voice heard as she runs for a parliamentary seat in Rwanda's elections.

European stock markets extend gains

European stock markets on Friday extended recent gains but Tokyo tanked with focus firmly on central bank activity.

TotalEnergies Uganda oil project 'devastating': conservationist

Production has yet to begin, but TotalEnergies' controversial East African oil project is already taking a dire environmental toll in Uganda's largest national parks, a leading conservationist group said Friday.

Ericsson posts $1bn quarterly loss on Vonage write down

Swedish telecommunications equipment manufacturer Ericsson said Friday it had suffered a $1.0 billion quarterly loss after writing down the value of its purchase of US cloud-based communications operator Vonage.

Day labourers seek dwindling jobs pre-dawn in Shanghai suburb

A dozen men crowded around an employment agent early in the morning in suburban Shanghai, waving their identification cards as they scrambled to secure a 12-hour shift at a warehouse.

Kardashians in India for billionaire wedding gala

Socialite sisters Kim and Khloe Kardashian were among the global celebrities spotted in India on Friday to attend a lavish three-day wedding ceremony staged by Asia's richest man Mukesh Ambani.

Stocks up on US rate hopes, yen holds gains amid intervention talk

Asian markets mostly rose Friday after a largely negative day on Wall Street despite growing confidence of a US interest rate cut, while the yen saw big swings as speculation swirled that Japan had stepped into forex markets to support the currency.

Myanmar temple city pines for tourists as conflict rages

The domes and spires of Myanmar's temple city of Bagan mark an island of calm in the country's raging civil war, but with conflict keeping tourists away locals are struggling to make ends meet.

S&P 500, Nasdaq streak of records ends as US inflation ebbs

A multiday streak of US stock market records ended Thursday as investors shifted bets away from hot artificial intelligence equities toward overlooked names in anticipation of interest rate cuts.

2024 bull market leaves out US small caps, so far

A famous aphorism holds that a "rising tide lifts all boats," but small capitalization equities are still waiting for a boost from the 2024 bull market on Wall Street.

Delta profits drop despite solid demand, hitting airline shares

Delta reported lower quarterly profits Thursday despite still-strong travel demand as it moderated a plan to add capacity in the fall in light of industry overcapacity.

Germany to ban Chinese telecom giants from 5G network

Germany said Thursday it will phase out the use of components from Chinese telecom giants Huawei and ZTE in its 5G networks in the coming years due to national security concerns.

EU accepts Apple plan to open iPhone tap-to-pay to rivals

The EU on Thursday approved Apple's offer to allow rivals access to the iPhone's ability to tap-to-pay within the bloc, ending a lengthy probe and sparing it a heavy fine.

Oil demand growth slowing, China consumption dips: IEA

The International Energy Agency trimmed its forecasts Thursday as it said world oil demand growth continues to slow and consumption in China dipped.

Markets track Wall St records after Powell hints at rate cut

Asian and European stocks on Thursday tagged along with a Wall Street rally that saw another round of record highs as bets on a September interest rate hike surged following comments by Federal Reserve boss Jerome Powell.

Cocoa price surge eats into Barry Callebaut sales volumes

The world's top industrial supplier of chocolate, Barry Callebaut, reported Thursday a dip in sales volumes in its latest quarter as a jump in cocoa prices bit into demand.

Romania faces down Vuitton for 'stealing' its beloved blouse

Villagers in Vaideeni at the foot of Romania's Carpathian mountains are fuming at French luxury brand Louis Vuitton for "stealing" the design of their traditional blouse.

In the heart of Mauritania's desert, a green oasis cultivates equality

For the residents of Maaden, a green oasis nestled in the depths of the vast Mauritanian desert, communal living, spirituality and sustainable agriculture are the keys to a harmonious existence.

China building more wind, solar capacity than rest of world combined: report

China is building almost twice as much wind and solar energy capacity as every other country combined, research published Thursday showed.

Asian markets track Wall St records after Powell hints at rate cut

Asian stocks on Thursday tagged along with a Wall Street rally that saw another round of record highs as bets on a September interest rate hike surged following comments by Federal Reserve boss Jerome Powell.

Ghost Cyprus resort bears scars of half-century of division

Once Cyprus's premier beach resort, the abandoned hotels and villas of Varosha stand testament to dashed hopes of reclaiming lost property after five decades of division and failed diplomacy.

Water shortages worsen as funding dries up for northwest Syria displaced

Hussein al-Naasan struggles to provide water for his family in the scorching summer, as aid funds have dried up and conditions deteriorated in impoverished displacement camps in Syria's rebel-held northwest.

Sawt Falasteen - Economy (English)