Sawt Falasteen - Economy

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Featured

Solid GM results overshadowed by latest jump in commodity costs

Higher commodity costs due to the US-Iran war overshadowed General Motors' solid earnings and a new share buyback announcement Tuesday, sending shares lower.

Houthi attacks undermine Saudi Arabia's economic ambitions

With airports closed and the capital brought to an effective standstill, attacks by Yemen's Houthis on Saudi Arabia have thrown a wrench in the kingdom's ambitious plans to overhaul the economy and draw foreign investment.

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China's economic growth slowed in third-quarter but beat forecasts

China's economy grew more than expected in the third quarter, data showed Wednesday, but the reading was still below target and officials continue to face calls for more stimulus while struggling to contain an unprecedented property crisis.

Tech giants Foxconn, Nvidia announce they are building 'AI factories'

Taiwanese tech giant Foxconn and US hardware leader Nvidia said Wednesday they would team up to create "AI factories", powerful data processing centres that would drive the manufacturing of next-generation products such as electric cars.

China economy growth slowed in third-quarter but beat forecasts

Equities drop, oil rallies on fears of broader Middle East war

Asian equities retreated and oil prices rallied Wednesday on fears that the Israel-Hamas conflict could spill over into a regional war after a strike on a Gaza hospital dealt a blow to President Joe Biden's diplomatic drive.

China's Xi rejects 'bloc confrontation' as begins BRI forum

Chinese President Xi Jinping said his country rejected "economic coercion" and "bloc confrontation" Wednesday, at the opening ceremony of a forum of international delegates to the Belt and Road forum in Beijing.

China says third-quarter economic growth slowed to 4.9%

China's economic growth slowed to 4.9 percent in the third quarter, official data showed Wednesday, as an unprecedented property crisis hit consumption and business activity in the country.

China's third-quarter economic growth slows to 4.9%: official data

China's economic growth slowed to 4.9 percent in the third quarter, official data showed Wednesday, as an unprecedented property crisis hit consumption and business activity in the country.

Man Utd sale saga leaves fans with more questions than answers

Nearly a year after Manchester United opened the doors to outside investment, British billionaire Jim Ratcliffe looks set to buy a 25 percent stake in the English Premier League club.

US tightens curbs on AI chip exports to China

The United States on Tuesday said it was tightening curbs on exports of state-of-the-art AI chips to China, sending the share price of Nvidia and other semiconductor companies plummeting on Wall Street.

Markets mostly rise as Biden set for Middle East diplomacy drive

Stock markets mostly rose on Tuesday as investors weighed the Israel-Hamas conflict, a raft of corporate results and concerns about interest rates.

Goldman Sachs profits fall in third quarter on real estate hit

US investment bank Goldman Sachs reported a fall in third quarter profits on Tuesday, noting net losses in equity investments compared with a year ago.

French school killer claimed attack for Islamic State group: prosecutor

The man who killed a French schoolteacher last week was expected to be charged with terror offences on Tuesday, a prosecutor said, adding that he had sworn allegiance to the Islamic State extremist group in an audio recording before his attack.

Markets fall as Biden set for Middle East diplomacy drive

US and European stock markets mostly fell and oil prices rose on Tuesday as US President Joe Biden prepared for a trip to the Middle East aimed at preventing the Israel-Hamas conflict spreading across the region.

US retail sales higher than expected in September: govt

Retail sales in the United States came in stronger than expected in September according to government data released Tuesday, supported partly by sales in the auto sector and at gasoline stations.

Goldman Sachs says profits down 36 percent in third quarter

US investment bank Goldman Sachs reported a fall in third quarter profits on Tuesday, noting net losses in equity investments compared with a year ago.

Markets waver as Biden set for Middle East diplomacy drive

Major stock markets were mixed Tuesday and oil prices rose slightly as US President Joe Biden prepared for a trip to the Middle East aimed at preventing the Israel-Hamas conflict spreading across the region.

Markets rise as Biden prepares for Middle East diplomacy drive

Asian markets mostly rose Tuesday and oil was subdued as Joe Biden prepared for a trip to the Middle East aimed at preventing the Israel-Hamas conflict spilling over into a regional conflagration.

Engine maker Rolls-Royce to axe up to 2,500 jobs

Rolls-Royce, the British manufacturer of aircraft engines, said Tuesday it plans to axe up to 2,500 jobs worldwide, or about six percent of its staff, to further slash costs.

Apple CEO Tim Cook makes surprise visit to China

Apple chief Tim Cook made a surprise visit to China this week, greeting gamers in the southwestern city of Chengdu as his company faces slumping phone sales in its biggest market.

EU to seek virtual elimination of fossil fuels at COP28

The EU will seek a global phase-out of fossil fuels and for their use to reach a peak in this decade, according to the member states' common position adopted unanimously late Monday.

Most Asian markets rise as Biden prepares for Middle East trip

Asian markets mostly rose Tuesday and oil was subdued as Joe Biden prepared for a trip to the Middle East aimed at preventing the Israel-Hamas conflict spilling over into a regional conflagration.

Xi, Putin to freshen decade-long friendship at Beijing summit

Ten years after toasting a budding friendship with vodka and cake, Xi Jinping and Vladimir Putin will meet again in Beijing this week seeking to further deepen the "no-limits" partnership between their two countries.

Smartphone sales sag globally: market tracker

Sales of smartphones continued to shrink globally in the recently-ended quarter as consumers watched spending, market tracker Counterpoint reported on Monday.

Ford executive chair calls for end of auto strike

Auto giant Ford's executive chairman on Monday urged workers to end their month-long strike, warning a prolonged stoppage could have a major economic impact.

Nigerian state holds mass weddings for 1,800 couples

Textile trader Yusuf Abdullahi admitted he could not afford to marry despite being 30 years old until Nigeria's northern Kano state financed and staged mass weddings for 1,800 couples.

EU climate talks at loggerheads over fossil fuel language

A major stumbling block to defining the European Union's position at the most important climate negotiations in years lies in the ambiguity surrounding one term: unabated fossil fuels.

Stocks rise, oil prices slide

The main stock markets in Europe and the United States rose on Monday but oil prices fell as markets tracked the Israel-Hamas conflict.

European stock markets, oil prices steady after volatility

Europe's main stock markets and oil prices steadied Monday after last week's volatility at the start of the Israel-Hamas conflict.

Old and poor: Thailand sleepwalking towards an ageing crisis

Unless she lines up in the hot sun for a free meal, ketchup on bread is the only food Thai widow Noi can afford on her small government pension.

China saw moderate third-quarter growth as hurdles persist: survey

China's economy is expected to have seen moderate growth in the third quarter, according to an AFP survey ahead of data this week, while experts warn that there were still significant hurdles for its recovery.

Asian markets drop as Middle East conflict worries grow

Asian markets sank Monday on concerns that Israel's expected ground offensive against Hamas in Gaza could spark a regional war involving Iran, with warnings that oil prices could surge, further complicating central banks' efforts to tame inflation.

Fashion Week hits Kenya's biggest urban slum

Towering models parade down a three-metre (10-foot) high catwalk overlooking the rusting tin roofs of Kibera, the Kenyan capital's biggest urban slum.

Sawt Falasteen - Economy (English)