Sawt Falasteen - Economy

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Macron hosts Saudi's MBS for visit ranging from esports to Mideast

French President Emmanuel Macron welcomes Saudi crown prince and de facto ruler Mohammed bin Salman on Sunday for a two-day visit set to range from esports to the war in the Middle East.

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.

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US Fed holds key rate steady, signals three cuts likely in 2024

Policymakers at the US Federal Reserve voted Wednesday to hold interest rates at a 22-year high for the third straight meeting and signaled they expect to make three rate cuts next year.

Tesla files recall on 2 mn vehicles to fix autopilot software

Electric car maker Tesla has initiated a recall of over two million vehicles in the United States due to risks associated with the autopilot software, the US traffic safety regulator said Wednesday.

US Fed holds rate steady and signals three cuts ahead

The US Federal Reserve voted Wednesday to hold interest rates at a 22-year high for the third straight meeting and signaled it expects to make three cuts next year.

BP sacks former CEO for 'serious misconduct'

BP on Wednesday denied its former chief executive of more than £32-million ($40-million) payout because of his failure to disclose past personal relationships with colleagues.

Pfizer shares tumble on disappointing 2024 profit outlook

Pfizer issued a disappointing 2024 forecast Wednesday, denting shares as the company navigates a profound plunge in sales tied to the Covid-19 pandemic.

Tesla files recall on 2 million vehicles to fix autopilot software

Electric car maker Tesla has initiated a recall of over two million vehicles in the United States due to a risk linked to its autopilot software, the US traffic safety regulator said Wednesday.

In rare display, US-China friendship carries climate summit

The scene would be unthinkable elsewhere these days -- US and Chinese envoys, smiling and embracing, hailing their friendship as leading the world together in the right direction.

French winemakers adopt US-style marketing to halt falling sales

France's wine makers, faced with a steep decline in sales, are turning to US-style marketing to revive their fortunes, including deep dives into global pop culture.

Equities mixed before Fed rate decision

Stocks rose Wednesday in Europe but stumbled in Asia before this year's final monetary policy decision from the Federal Reserve, one day after an unremarkable US inflation report tempered expectations for an interest-rate reduction early next year.

UAE's Jaber, oil boss who brokered 'beginning of end' for fossil fuels

Sultan Al Jaber, the UAE oil chief who headed COP28 in Dubai, promised that this year's UN climate talks would be "different". He did not disappoint.

Netflix releases vast viewing data for first time

Netflix for the first time published detailed viewing figures about thousands of its shows and movies Tuesday, offering an unprecedented glimpse into the world-leading streaming platform's top hits and highest-profile flops.

Cambodia's women tuk-tuk drivers fighting prejudice

Every day Roeung Sorphy deftly weaves through the streets of Siem Reap, zigzagging past cars, motorbikes and the occasional stray dog as she shepherds tourists to the famed Angkor Wat temple complex.

China shows off homegrown C919 jet in Hong Kong

China's new domestically produced passenger jet made its debut outside the mainland on Wednesday, with international media in Hong Kong getting their first up-close look.

US Fed pause expected amid flurry of rate decisions

The US Federal Reserve will likely hold its key lending rate at a 22-year high on Wednesday -- the first of a series of crucial central bank decisions this week.

Argentina devalues peso, unveils measures to avoid 'hyperinflation'

Argentina devalued its currency by more than 50 percent Tuesday in a set of "shock" measures aimed at reviving a crumbling economy and tackling triple-digit inflation.

US stocks shrug off mixed inflation data, extending rally

US stocks finished solidly higher Tuesday, shaking off early weakness on continued bullish sentiment as a mixed inflation report contributed to a drop in oil prices.

Pfizer expects to complete purchase of Seagen on Thursday

Pfizer announced Tuesday that it expects to complete this week its $43 billion acquisition of cancer-focused biotech company Seagen after clearing key regulatory hurdles.

IMF resumes Sri Lanka bailout after China's debt deal

The International Monetary Fund announced on Tuesday it is reviving its $2.9 billion bailout for Sri Lanka after the South Asian nation clinched a debt restructure deal with its largest single lender China.

ASML, Samsung ink 700mn chip plant deal as S.Korea president visits

Dutch tech giant ASML and Samsung Tuesday signed a deal worth around 700 million euros to build a semiconductor research plant in South Korea, as President Yoon Suk Yeol wrapped up day one of a technology-focused visit.

Sticky US inflation data robs stocks of momentum

Sticky US inflation data on Tuesday robbed stocks of momentum although indices held near peaks or records as investors awaited the latest indications from the Fed on interest rates.

Argentine government to unveil measures to avoid 'hyperinflation'

President Javier Milei's new government will on Tuesday unveil a set of emergency measures to avoid "hyperinflation" that are expected to deliver a shock to the country's ailing economy.

US Fed kicks off rate meeting with another pause expected

The US Federal Reserve began a two-day interest rate meeting Tuesday at which policymakers are widely expected to hold rates steady for a third straight meeting as they continue the fight against high inflation.

Australian, American charged with running crypto Ponzi scheme

An Australian man and a US national have been charged in California with operating a cryptocurrency Ponzi scheme, the Justice Department said Tuesday.

Sticky US inflation data holds back stocks

Sticky US inflation data kept stocks from making further sharp gains on Tuesday although indices held near peaks or records as investors bet on interest rate cuts.

Macron's govt defiant after immigration bill rejection

France's government insisted Tuesday it would implement tough measures against illegal migrants as it battled a political crisis following the rejection of its flagship immigration bill in the lower house of parliament.

Paris stock market hits record high before US inflation data

The Paris stock market struck a record-high Tuesday as traders awaited a bumper round of key events, starting with the release of US inflation data.

Renault sells Nissan stake as part of rebalanced alliance

Renault said Tuesday that it was selling to Nissan part of the stake it owns in the Japanese automaker as the two companies rebalance their alliance.

'Chip alliance': S. Korean president kicks off Dutch trip

South Korea's president on Tuesday kicked off a visit to the Netherlands, hoping to forge a "chip alliance" between the two global semiconductor powerhouses amid growing tech tensions with China.

Asia tracks Wall St rally ahead of run of data, Fed decision

Stocks tracked Wall Street higher and the dollar retreated Tuesday as traders awaited a bumper round of market-moving events, starting with the release of US inflation data later today.

The dangerous rise of 'medicalised' genital mutilation in Kenya

As Edinah Nyasuguta Omwenga fought for her life after developing complications during childbirth, she overheard doctors in the Kenyan hospital describe her condition as a textbook example of the damaging -- even deadly -- effects of genital mutilation.

China's Xi visits Vietnam in bid to counter US

China's President Xi Jinping arrived in Vietnam Tuesday for his first visit in six years, as he seeks to counter the United States' growing influence with the communist nation.

Jordan's mission to save its ancient olive trees

Every morning, Jordanian farmer Ali Saleh Atta swallows two cloves of garlic with a cup of olive oil before heading out to check on his ancient olive trees.

Sawt Falasteen - Economy (English)