Sawt Falasteen - Economy

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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.

Arctic shipping a daunting prospect in hotly contested region

With Gulf turmoil slashing Suez Canal traffic, shipping firms are tempted to try the Arctic for quicker trips between Europe and Asia -- but commercial prospects are unlikely to match countries' strategic ambitions for the North Pole.

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Japanese turn to wearable tech to beat the heat

Selling jackets with built-in fans, neck coolers and T-shirts that feel cold, Japanese firms are tapping into a growing market for products to help people handle the summer heat.

Brazilian jiujitsu offers lifeline to Rio favela kids

In a hilltop slum crammed between two of Rio de Janeiro's wealthiest neighborhoods, children practice Brazilian jiujitsu, hoping to follow in the footsteps of the black belts whose graffiti portraits decorate their gym's walls.

Chinese developer Evergrande files for bankruptcy protection

Embattled Chinese property giant Evergrande Group filed for bankruptcy protection in the United States on Thursday, court documents showed, a measure that protects its US assets while it attempts to restructure.

China developer Evergrande files for bankruptcy protection

Walmart reports another solid quarter as consumers focus on value

Walmart raised its full-year forecast on Thursday as it posted another quarter of solid results, grabbing market share in groceries and other staples against a backdrop of inflationary pressures.

Walmart raises 2024 forecast after 'strong' quarter

Walmart raised its full-year forecast on Thursday following a jump in quarterly profits, pointing to solid increases at US stores and e-commerce.

Ballgowns, surveillance and cloning for sale at China pet fair

A shimmering, 1.5-metre-long golden ballgown stood pride of place in a Shanghai exhibition hall Thursday -- and for the cool price of $13,700, your dog could be the lucky animal to leave Pet Fair Asia wearing it.

Ship from Ukraine port nears Turkey despite Russian blockade

A civilian cargo vessel sailing from Ukraine in defiance of a Russian blockage was hugging the coast of Bulgaria on Thursday on its way to Turkey, marine traffic monitors said.

China's property sector crisis fuels fears of contagion

Troubled Chinese property giant Country Garden risks defaulting on its bond payments next month, which could have disastrous consequences for the world's second-largest economy.

Israel says US okays 'landmark' missile defence deal with Germany

Israel said the United States on Thursday approved the "landmark" sale of the Arrow 3 hypersonic missile defence system to Germany, in the country's biggest military deal worth $3.5 billion.

Israel says US okays Arrow 3 missile defence system sale to Germany

Israel said the United States on Thursday approved the sale of the Arrow 3 hypersonic missile defence system to Germany, in the country's biggest ever military deal worth $3.5 billion.

Where summer heat hits hard: Mideast and North Africa

Climate change has impacted the Middle East and North Africa where summer is already very hot. Many in Iraq, Syria, Tunisia and Saudi Arabia still labour in the heat.

Most markets drop as US rate, China fears dent global optimism

Most Asian markets joined a global sell-off Thursday on fresh worries the Federal Reserve will hike interest rates again, while China's economic woes continued to shred traders' nerves.

'Silent threat': Bahrain to build walls against rising sea

Already battling extreme heat, Bahrain is scrambling to ward off another environmental threat: rising seas that could swallow parts of its coast, the island nation's oil and environment minister told AFP.

Morning-after pill more effective when taken with painkiller: study

Women who took a prescription painkiller alongside a morning-after pill had more success preventing pregnancies than those who only took the emergency contraceptive, according to a new medical study from Hong Kong.

Asia extends global stocks retreat as US rate, China fears build

Asian stocks joined a global sell-off Thursday on fresh worries the Federal Reserve will hike interest rates again, while China's economic woes continued to shred traders' nerves.

In a first, Ecuador to vote on oil drilling in the Amazon

To some, Ecuador's jungle is a home and a valuable tool in fighting climate change, to others, it is a vital solution to a struggling economy.

Colombian president wants to amend free trade accord with US

President Gustavo Petro announced Wednesday that he wants to renegotiate a free trade accord that Colombia has with the United States, the main destination for its exports.

US stocks drop as Treasury bond yields hit multi-year peaks

Wall Street stocks fell Wednesday as US Treasury bond yields surged to multi-year peaks, while the pound rallied following British inflation data.

Aldi to buy 400 supermarkets in US Southeast

Discount supermarket chain Aldi announced Wednesday a deal to purchase 400 grocery stores across the southeastern United States, expanding its footprint as inflation tests American consumers.

Intel abandons $5.4 bn deal to buy Israel's Tower Semiconductor

Intel Corporation has terminated a $5.4 billion deal to buy Tower Semiconductor in Israel after failing to get needed regulatory approval, the US chip maker announced Wednesday.

UK lagging in switch to green energy, study warns

The UK risks being left behind in the production of "green" electricity, despite having once being considered a leader in the energy transition, according to a new study.

Markets mixed as industrial production up, Fed minutes awaited

Global stocks wavered Wednesday on strong industrial production data from the US and eurozone, while concerns about the Chinese economy and a further Fed rate hike persisted.

Markets mixed as industrial production up, China woes persist

Wall Street opened higher Wednesday on strong industrial production data while Europe remained mixed following concerns about the Chinese economy and a further Fed rate hike.

Tentative truce in Libya capital after militia clashes kill 27

Gun battles between two leading armed groups in the Libyan capital Tripoli have killed 27 people and wounded 106, medics said Wednesday, as a tentative truce took hold.

China's Country Garden says 'major uncertainties' over bond payments

China's troubled property giant Country Garden said Wednesday there were "major uncertainties" over payments on its bonds, with fears swirling about the health of the country's heavily indebted real estate sector.

Bank of Ireland apologises for 'free money' tech glitch

Bank of Ireland apologised on Wednesday after fixing a technical issue that allowed customers to withdraw or transfer more money than was in their accounts.

European stocks waver on China woes, US rate concerns

European markets wavered Wednesday following a drop in Asian markets on concerns about the Chinese economy and investor fears of a further Fed rate hike.

Kenya's debt rises to historic high: treasury

Kenya's debt level has reached record highs despite President William Ruto's vow to tame the country's appetite for loans, treasury figures show.

Vietnam's VinFast targets US electric car market

Vietnamese electric vehicle maker VinFast has made its debut on the Nasdaq, and its shares soared to push its stock market valuation past Ford and General Motors on its opening day of trading.

Hong Kong exchange posts 31% rise in H1 profit despite IPO malaise

Hong Kong's stock exchange operator reported a "strong" first-half net profit of HK$6.31 billion ($807 million) on Wednesday, up 31 percent on the same period last year despite IPO activity being impacted by "global market fragility".

Asian markets fall on China woes, US rate concerns

Asian markets fell Wednesday on concerns about the Chinese economy and after stronger-than-expected US retail sales data increased the likelihood of a further Fed rate hike.

Sawt Falasteen - Economy (English)