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

First no-prescription birth control pill approved in US

US health authorities on Thursday approved the first over-the-counter birth control pill in the country, dramatically widening access to contraception for women in the United States where abortion rights are increasingly under assault.

France expands trade ties with UAE, Qatar: minister

Trade ties between France and Gulf Arab states, namely Qatar and the UAE, are expanding year-on-year, France's trade minister told AFP on Thursday, praising the deepening partnership as "good news".

ExxonMobil to buy Denbury for $4.9 bn to expand low-carbon business

ExxonMobil will acquire Denbury Inc., a specialist in enhanced oil recovery and carbon sequestration, for $4.9 billion as it builds out its low-carbon business, the oil giant announced Thursday.

UK public sector pay to increase but PM rules out more talks

UK Prime Minister Rishi Sunak on Thursday urged unions to call off strike action, warning the government will no longer negotiate on higher salaries.

AI-supercharged neurotech threatens mental privacy: UNESCO

The combination of "warp speed" advances in neurotechnology, such as brain implants or scans that can increasingly peek inside minds, and artificial intelligence poses a threat to mental privacy, UNESCO warned on Thursday.

UK economy falters as outlook darkens

The UK economy shrank in May on an extra public holiday for the coronation of King Charles III, official data showed Thursday, and as high inflation prolongs a cost-of-living crisis.

Hundreds arrested following Kenya protests: ministry

Kenya's interior ministry on Thursday said more than 300 people including a lawmaker had been arrested following violent anti-government protests that left seven people dead.

Stocks jump, dollar sinks as Fed seen ending rate hikes

World stock markets rallied Thursday and the euro hit a 16-month dollar peak, after easing US inflation stoked hopes the Federal Reserve's long-running campaign of interest rate hikes could be near an end.

China exports plunge in June, deepening economic woes

Chinese exports tumbled more than expected in June, official data showed Thursday, putting fresh pressure on Beijing to unveil more stimulus measures to kickstart the flagging recovery.

Markets surge on hopes Fed close to end of hiking cycle

Asian markets leaped Thursday on optimism the Federal Reserve's long-running campaign of interest rate hikes could be near an end after data showed US inflation rose less than expected last month.

Hot Tour Summer sees Taylor, Beyonce eye $1 bn mark

It's a pop queen's world and we're just living in it: Industry watchers are speculating over whether Tay or Bey could post the first billion-dollar tour, as 2023 witnesses an explosion of shows.

Race against time to find fresh water for Uruguay's capital

Uruguay is frantically laying pipes and digging wells as it races to find fresh sources of precious H2O amid a record drought that has threatened to leave its capital without potable water.

Rescuers resume search for migrant boats off Canary Isles

Spain's coastguard resumed the search for three migrant boats reported lost off the Canary Islands after suspending an aerial search earlier in the day due to bad weather.

Ukrainian women fight for uniforms that fit

At a training ground on the edge of Kyiv, a group of women ran through an obstacle course and fired Kalashnikovs, putting the new uniforms finally designed for them through a stress test.

US consumer inflation cools to lowest since early 2021

US consumer inflation cooled in June to its lowest rate since early 2021, according to government data released Wednesday -- an encouraging sign for policymakers battling cost-of-living pressures.

Stock markets jump as US inflation cools

Stock markets bounced on Wednesday as data showed US inflation cooled more than expected in June, raising hopes that the Federal Reserve will soon end its cycle of interest rate hikes.

Search for migrant boats off Canary Isles temporarily suspended

Spain's coastguard temporarily suspended Wednesday a search for three migrant boats reported lost off the Canary Islands after poor weather prevented a plane from being deployed to the area.

US annual consumer inflation cools to lowest since early 2021

Annual consumer inflation in the United States cooled in June to its lowest rate since early 2021, the Labor Department said Wednesday -- an encouraging sign for policymakers battling to lower cost pressures.

EU clears US chipmaker Broadcom's $61 bn VMware takeover

The European Commission approved US chipmaker Broadcom's planned $61-billion takeover of cloud computing firm VMware on Wednesday after the company offered remedies to ease competition concerns.

Caster Semenya says rights court ruling is 'only the beginning'

Double Olympic 800m champion Caster Semenya Wednesday hailed the decision of the European Court of Human Rights which ruled her human rights were violated by Swiss courts.

UK lenders 'can withstand major shock'

Britain's top lenders have passed stress tests to show they can withstand a major economic shock, even as rising interest rates pressure the financial system, the Bank of England said Wednesday.

Kenya police fire tear gas as protesters defy ban

Kenyan officers on Wednesday fired tear gas on protesters who defied a police ban to join a demonstration against tax hikes called by opposition leader Raila Odinga.

Most markets advance as US inflation data looms

Asian and European markets mostly rose Wednesday as investors jockeyed for position ahead of a key US inflation report later in the day, and Hong Kong extended gains on hopes for fresh Chinese stimulus.

UK lenders can withstand major shock: Bank of England

Britain's top lenders have passed stress tests to show they can withstand major economic shock, even as rising interest rates pressure the financial system, the Bank of England said Wednesday.

Asian markets fluctuate as US inflation data looms

Asian markets saw choppy trade Wednesday as investors jockeyed for position ahead of a key US inflation report later in the day, though Hong Kong extended gains on hopes for fresh Chinese stimulus.

Unlikely savior: Musk's antics give Zuckerberg PR makeover

After years of bad press and scandal, Mark Zuckerberg is seeing his reputation spruced up in the fickle world of tech, largely thanks to the increasingly unpredictable behavior of Elon Musk.

After spring crisis, US banks face subdued profit outlook

The upcoming deluge of US bank earnings is expected to show more pressure on deposits, an uptick in reserves for bad loans and much talk about potential new regulations.

France riot damage racks up $700 mn insurance bill: industry body

Damage from riots sparked by the police killing of a teenager in France has resulted in a $715 million insurance bill, an industry body said Tuesday.

Iraq to pay for Iranian gas imports with oil: PM

Iraq will start paying for its Iranian gas imports with oil, to circumvent the complicated mechanism agreed with Washington in order not to contravene US sanctions, the prime minister said Tuesday.

Latest US Takata death prompts dire warning on some 2003 trucks

Stellantis urged owners of thousands of 2003 Dodge Ram pickups to "immediately stop" driving the vehicles if their Takata airbags have not been replaced, the company said Tuesday.

Microsoft-Activision deal back on track after US court win

A US federal judge on Tuesday resurrected Microsoft's $69 billion buyout of video gaming giant Activision Blizzard by refusing to allow the temporary suspension of the long delayed deal.

UK postal workers call off strikes

Postal workers at the UK's Royal Mail on Tuesday accepted a new pay deal to end a costly series of strikes.

Sawt Falasteen - Economy (English)