Sawt Falasteen - Economy

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Featured

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.

Last news

US hiring cooler than expected in July but wage gains hold steady

Job creation in the United States was lower than anticipated in July, according to government data released Friday, hovering at the slowest pace since late 2020 in encouraging news for policymakers.

Maersk sees weaker demand for shipping

Maersk, the world's second-largest container shipping firm, said Friday it expects shipping volumes to fall this year as companies continue to reduce inventories.

Stock markets steady before US jobs data

Stock markets steadied Friday before the release of key US jobs data and as positive earnings helped to offset debt concerns in the world's biggest economy.

German industrial orders leap in June

German industrial orders jumped in June for the second month in a row on the back of major contracts despite the downturn dragging on Europe's top economy, official data released Friday showed.

China to remove tariffs on Australian barley as ties improve

China said Friday it will remove extra tariffs on Australian barley, in the latest thawing of ties between the two after years of tensions.

China says it will remove tariffs on Australian barley

China said Friday it will remove extra tariffs on Australian barley, in the latest thawing of ties between the two after years of tensions.

'Happy mothers': S. Korean couple beat same-sex barriers to parenthood

South Korea has spent billions of dollars on policies to boost its birth rate. But when Kim Kyu-jin and her wife wanted to have a baby, they had to fly to Belgium.

Asian markets mixed as traders nervously await US jobs report

Asian markets were mixed Friday at the end of a volatile week, with a fresh spike in US Treasury yields weighing on Wall Street and traders still concerned about the Federal Reserve's interest rate plans.

Asylum 'ban' at US southern border can stay: court

A de facto ban on claiming asylum at the US southern border implemented in May in an effort to stem a feared influx of migrants can stay in place for now, a court said Thursday.

Ecuador jungle community hopes vote will end oil drilling

Armed with a long blowgun and darts laced with poison extracted from plants, Kominta walks naked through the thick Ecuadorian jungle, where oil exploration is threatening his way of life.

Amazon and Apple beat earnings forecasts as they polish AI skills

Amazon and Apple on Thursday reported earnings that topped market expectations, aiming for even better days ahead with the help of artificial intelligence (AI).

US aims to deploy troops on tankers to deter seizures by Iran: official

The United States is preparing to deploy sailors and Marines aboard commercial tankers transiting the Gulf as part of efforts to deter Iran from seizing ships, a US official said Thursday.

Apple profits edge higher despite lower iPhone sales

Apple reported modestly higher quarterly profits Thursday despite another dip in revenues, as a record performance in services offset lower iPhone sales.

Amazon profit beats expectations on booming sales

Amazon on Thursday reported a quarterly profit that trounced market expectations, driven by strong sales helped by its annual Prime discount event.

Left faces up-hill battle for minimum wage in Italy

Security guard Aurelio Bocchi takes home just under four euros an hour in northern Italy, a paltry sum on which, he says, "we don't live, we survive".

Saudi extends 1m bpd oil output cut: energy ministry

Saudi Arabia announced Thursday it is extending a voluntary oil production cut of one million barrels per day for another month, keeping up its campaign to prop up prices.

BoE hikes rate 14th time in row on high UK inflation

The Bank of England on Thursday hiked its key interest rate for a 14th time in a row, by a quarter-point to 5.25 percent as UK inflation stays high, prolonging a cost-of-living crisis.

Adidas books profit as it sells off Kanye inventory

Adidas said Thursday it booked a profit in the second quarter, showing tentative signs of recovery as it sells off its huge inventory of rapper Kanye West's Yeezy merchandise.

Nigerian workers suspend strike over cost of living crisis

Nigerian workers have suspended a nationwide strike over the rising cost of living following the removal of a petrol subsidy scheme, the government and union leaders said Thursday.

Stocks markets extend losses on US credit downgrade

Major stock markets mostly slid further Thursday as traders moved out of riskier assets and into havens such as bonds, the dollar and yen after Fitch this week stripped the United States of its top credit rating.

Turkish inflation ticks up in July at 47.83 percent

Turkey's annual inflation climbed in July to 47.83 percent, up sharply from 38.2 percent, official data showed on Thursday, a week after the central bank more than doubled its year-end forecast.

Stocks struggle to recover from selloff, Fed rate fears linger

Asian markets fluctuated Thursday following a plunge on Wall Street as a forecast-beating US jobs report revived worries about the Federal Reserve's interest rate-hiking campaign.

Japan's elderly 'gateball' players unbeaten by the heat

Under a scorching sun in Tokyo, octogenarian Katsuko Morita swings her mallet and whacks a ball through a small "gate". The diehard gateballer plays almost every day, even when the mercury soars.

Traders struggle to recover from selloff as Fed rate fears linger

Asian markets fluctuated Thursday following a plunge on Wall Street as a forecast-beating US jobs report revived worries about the Federal Reserve's interest rate-hiking campaign.

BoE set for fresh rate hike as UK inflation stays high

The Bank of England is set to raise its key interest rate for a 14th time in a row Thursday as UK inflation stays high, adding to a cost-of-living crisis.

X, the former Twitter, lets users hide once-vaunted blue check

Users on the social media platform X, formerly known as Twitter, will now be allowed to hide their once-prized blue check marks, the company says.

Global stock markets slump after US ratings downgrade

Global stock markets slumped Wednesday after Fitch stripped the United States of its top credit rating, citing a growing federal debt burden and an "erosion of governance."

US credit downgrade 'entirely unwarranted': Yellen

A US credit downgrade by Fitch was "entirely unwarranted," Treasury Secretary Janet Yellen said Wednesday, pushing back against the second-ever decrease by a major ratings agency following repeated debt limit standoffs in Washington.

Canada PM Trudeau and wife announce separation

Canadian Prime Minister Justin Trudeau announced Wednesday that he and his wife of 18 years, Sophie Gregoire-Trudeau, are separating.

Wizz Air orders 75 more Airbus A321neos

Hungarian low-cost airline Wizz Air has ordered another 75 A321neo aircraft, Airbus said Wednesday, in a deal worth $10 billion at list prices.

Stock markets slump after US ratings downgrade

Global stock markets slumped Wednesday after the United States had its top credit rating downgraded by Fitch.

US private hiring hotter than expected despite July easing

Hiring in the US private sector decelerated in July but was nearly twice as high as analysts expected according to payroll firm ADP on Wednesday, signaling strength in the jobs market.

Sawt Falasteen - Economy (English)