Sawt Falasteen - Economy

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Featured

Science fiction? Musk's lofty SpaceX goals unrealistic, skeptics say

Elon Musk's SpaceX has made awe-inspiring achievements since its founding over two decades ago and has big ideas -- colonies on Mars, orbital AI data centers, rapidly reusable rockets -- for the future.

Asia stocks up, oil down on Mideast deal hopes

Asian stocks gained and oil dipped Friday after US President Donald Trump withdrew his threat of further strikes on Iran and said a deal could be signed in the coming days.

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Businessman or politician? Billionaire Czech PM under fire again

Since entering politics in 2011, Czech Prime Minister Andrej Babis has been grappling with a conflict of interest as a billionaire businessman and politician, and his latest stint in power is no exception.

Cathay Pacific roughly doubles fuel surcharge on most routes

Hong Kong aviation giant Cathay Pacific announced new fuel surcharges for most routes Thursday that are roughly double the existing ones.

China approves 'ethnic unity' law condemned by rights groups

China approved what it called an "ethnic unity" law on Thursday, which rights advocates warn could further marginalise minority groups such as the Uyghurs.

BMW profit holds up despite Trump tariffs, China woes

German carmaker BMW reported a three percent fall in annual profit on Thursday, despite US tariffs and cutthroat competition in China, far smaller than the double-digit plunges seen at rivals.

Electric vehicle rethink to cost Honda almost $16 billion

Japan's Honda said Thursday it expected to book nearly $16 billion in expenses and losses related to a major reorientation of its electric vehicle (EV) strategy, blaming US policy changes and tariffs.

From Kyiv to UK, Ukrainian drone production spans Europe

In an inconspicuous building near the UK's Mildenhall air base, drone manufacturer Ukrspecsystems is opening a new production line, like other Ukrainian arms companies looking to secure supply chain and boost capacity.

Australia to change fuel quality standards to boost supply

Australia will adjust fuel quality standards to allow higher sulfur levels for around two months in a move that will release 100 million litres into the domestic supply, officials said Thursday.

Co-founder of Copenhagen's Noma steps down after abuse allegations

The co-founder of Noma, several times crowned the best restaurant in the world, Danish chef Rene Redzepi said Thursday that he was stepping down, following reports of past abuse at his fabled restaurant.

War disrupts fertiliser supplies, puts food security at risk

With production in the Gulf countries at a standstill and gas prices rising, the war in the Middle East is disrupting the supply of fertilisers and posing risks for food security.

Oil prices jump despite strategic reserve release

A record release of oil from strategic reserves by IEA nations failed to ease concerns about the impact from the Middle East war, with crude prices pushing further higher and stocks sliding.

Man set himself alight in fatal Swiss bus fire: prosecutor

An inferno on a Swiss bus that killed six people was seemingly started by a "disturbed" man on board who set himself alight, the investigating prosecutor said Wednesday.

British fintech Revolut gets full UK banking licence

British fintech company Revolut on Wednesday said it had obtained a full UK banking licence from regulators, lifting restrictions on it competing with established retail lenders.

US consumer inflation unchanged but price shocks from Iran war loom

Consumer inflation in the United States remained stable at 2.4 percent in February, official data showed Wednesday, with price shocks from the US-Israel war on Iran yet to be reflected in the data.

IEA says members to release 400 mn barrels from oil reserves

The International Energy Agency said Wednesday its member countries would unlock 400 million barrels of oil from their reserves to ease the impact of the Middle East war, the biggest such release ever.

US consumer inflation unchanged at 2.4% year-on-year in February

Consumer inflation in the United States remained stable at 2.4 percent in February, in line with market expectations, government data showed Wednesday, as affordability concerns persist in the world's largest economy.

German defence giant Rheinmetall sees business boost from Mideast war

German arms maker Rheinmetall said Wednesday the Middle East war offered new business opportunities, especially for its air defence systems, as it forecast continued strong growth this year.

Malawi court dismisses 15-year lawsuit against Madonna charity

A Malawi High Court has dismissed a wrongful‑termination case against US pop star Madonna brought by the sister of a former president, in one of the country's longest-running NGO disputes.

Airlines grapple with impact of Mideast war

Global airlines are grappling with the effects of the war in the Middle East, as fuel prices soar and customers reassess their travel plans.

Thai navy says cargo ship attacked in Strait of Hormuz

A Thai bulk carrier travelling in the crucial Strait of Hormuz was attacked Wednesday, with 20 crew members rescued so far, the Thai navy said.

Airlines in Asia hike fares as Mideast war raises fuel costs

Airlines in the Asia-Pacific region, including Qantas, Air India and Cathay Pacific, have hiked fares -- or will soon -- to factor in surging jet fuel prices spurred by war in the Mideast.

European football clubs score with stadium rebuilds

On a former derelict dock in the British port city of Liverpool, fans of Everton throng eateries and bars at the football club's new stadium ahead of a Premier League match.

Cathay says surcharge to rise as fuel prices jump during Mideast war

Hong Kong aviation giant Cathay Pacific said on Wednesday that fuel surcharges would rise as prices soared in March after war broke out in the Middle East.

Fears of fuel shortage in Pakistan as tankers wait to fill up

Tanker drivers in Pakistan said they were facing long waits at depots due to a shortage of fuel, as the government played down fears of another rise in prices.

Stocks rise again, oil stabilises as report says IEA considers release

Asian equities extended gains Wednesday while oil stabilised after a report said the International Energy Agency was considering the release of a record amount of its reserves to counter soaring prices.

Asian stocks extend gains, oil stabilises after crude release report

Dassault pitches latest private jet against US, Canadian rivals

France's Dassault on Tuesday unveiled its latest private jet, the Falcon 10X, pitched to rival the flagship planes from Gulfstream and Bombardier.

Louis Vuitton takes Paris fashion week on mountain ride

Models wore mountain capes, shepherds' hats and carried bags with bells attached to them as Louis Vuitton brought the curtain down on Paris fashion week with a back-to-nature show Tuesday.

White House says US Navy has not escorted tanker through Strait of Hormuz

The United States has not escorted any oil tanker through the Strait of Hormuz, the White House said Tuesday, after the energy secretary's social media account posted and deleted a claim that it did so.

US energy secretary's post saying US escorted tanker in Hormuz deleted

A post by US Energy Secretary Chris Wright saying that the US Navy had escorted an oil tanker through the Strait of Hormuz was deleted on Tuesday, minutes after his account had posted it.

Oil crisis: Is world better placed than in 1973?

Ten days after the first American and Israeli strikes against Iran, oil prices have cooled slightly after soaring above $100 a barrel.

Oil plunges, stocks rise as Trump says Iran war over 'very soon'

Oil prices sank and equities pushed higher Tuesday following a wild day of swings that came after President Donald Trump signalled that the US-Israeli war on Iran could end sooner than thought.

Global energy body discusses releasing strategic oil reserves

Member states of the International Energy Agency (IEA) were set to meet on Tuesday for crisis talks to assess security of supply and the potential release of emergency stocks as the Middle East war roils markets, the body's chief said.

Sawt Falasteen - Economy (English)