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

Chinese tech giant Alibaba names new CEO, chairman

Chinese tech giant Alibaba said Tuesday it will replace its top boss, in a surprise move at the e-commerce titan as it looks to recover from years of slow growth caused by weak consumer spending and a regulatory crackdown.

Hong Kong, Shanghai lead market losses as China rate cut falls flat

Stocks in Hong Kong and Shanghai led equity losses Tuesday as a smaller-than-forecast interest rate cut by China's central bank added to worries about the lack of action to kickstart the country's lumbering economic recovery.

Chinese tech giant Alibaba names next CEO

Chinese tech giant Alibaba said Tuesday it will replace its top boss in a surprise move at the e-commerce titan as it looks to recover from years of slow growth caused weak consumer spending and a crackdown by authorities.

With record unemployment, China's youth confront bleak job market

Rather than celebrating finishing university, this summer Chinese graduates shared photos of themselves theatrically throwing their degrees into bins, underscoring the bleak outlook as youth unemployment sits at a record high.

Hong Kong, Shanghai lead Asia losses as China rate cut falls flat

Stocks in Hong Kong and Shanghai led losses across most of Asia on Tuesday as a smaller-than-forecast interest rate cut by China's central bank added to worries about the lack of action to kickstart the country's lumbering economic recovery.

Modi to talk tech, trade on US visit

Indian Prime Minister Narendra Modi heads to the United States on Tuesday to meet with President Joe Biden and address Congress, with military and technological ties on the agenda as his hosts seek a regional counter to China.

'Tough balancing act': Chinese, German leaders hold talks

Chancellor Olaf Scholz hosts Premier Li Qiang for talks on Tuesday, seeking to recalibrate cooperation between Germany and China after Berlin branded Beijing a "systemic rival".

China's central bank cuts two benchmark interest rates

China's central bank on Tuesday cut two benchmark interest rates, following several similar measures last week in a bid to counter the post-Covid growth slowdown in the world's second-largest economy.

Uganda arrests 20 'collaborators' over horrific school massacre

Ugandan police said Monday that 20 people had been arrested for suspected collaboration with the notorious militia group blamed for last week's grisly attack on a school near the border with Democratic Republic of Congo.

Berlin, Intel strike controversial chip plant subsidy deal

Berlin agreed Monday to grant US chip giant Intel subsidies totalling almost a third of the cost of a 30-billion-euro ($32.7-billion) German plant in a controversial decision following a months-long row.

Biggest-ever airliner order marks first day of Paris Air Show

European aircraft maker Airbus made a splash on the first day of the Paris Air Show with the announcement of the biggest-ever order for civil aircraft, as the French president joined a big crowd for the event's return after a four-year Covid hiatus.

Global markets drop as China stimulus hopes fade

Asian and European stocks fell Monday as investors await more interest-rate decisions this week and fret over the lack of a stimulus plan to kickstart the Chinese economy.

Sexual assault claims cast light on Australia's macho politics

Australia has allowed a sexist culture to fester inside its parliament, a prominent lawmaker has told AFP, as sexual assault allegations again ring through the country's halls of power.

Asian, European markets drop as China stimulus hopes fade

Markets sank Monday with traders left disappointed by a lack of policy announcements from China aimed at kickstarting the ailing economy.

Paris Air Show back with climate, defence in focus

The Paris Air Show opens Monday after a four-year break with the aerospace industry bouncing back from the Covid-19 pandemic but under pressure to slash its carbon footprint.

Paris summit to push for global debt and climate reform

World leaders will gather in Paris this week with ambitions to reimagine global financing for a new era shaped by climate change, as a cascade of crises swamps debt-burdened countries.

Asian markets fail to build on rally with eye on China policy

Markets saw a limp start Monday as traders turned more cautious after last week's rally, with eyes on China as speculation grows that officials will unveil a raft of economic stimulus measures.

Swiss get behind net-zero climate law

The Swiss, feeling the impact of global warming on their rapidly melting glaciers, on Sunday backed a new climate bill aimed at steering their country towards carbon neutrality by 2050.

Swiss vote on net-zero climate law

The Swiss, feeling the impact of global warming on their rapidly melting glaciers, were voting on Sunday on a new climate bill aimed at steering the country towards carbon neutrality by 2050.

Mitsotakis on course to return as Greek PM in new vote

After an inconclusive election in May, Greece returns to the ballot box next Sunday with conservative former prime minister Kyriakos Mitsotakis on course to win a second straight four-year term.

Binance to repatriate US customer funds as legal woes mount

Binance has agreed to repatriate its US customers' assets pending a massive lawsuit against the world's largest crypto exchange, the US Securities and Exchange Commission said Saturday, adding that it will secure the funds.

Bicommunal Pride march unites divided Cyprus capital

Greek and Turkish Cypriots from both sides of the divided island's capital marched Saturday in support of LGBTQ rights, meeting in the UN buffer zone that has cut across Nicosia for decades.

Climate warming pits geese against farmers in Finland

With a cacophony of honks sounding like a hailstorm, tens of thousands of hungry geese blanket a lush green field in Finland with their black flocks.

Canada court upholds pact on returning asylum seekers to US

Canada's Supreme Court on Friday upheld an immigration agreement that allows authorities to bar asylum seekers from entering the country from the United States.

Racism routine in police force that killed George Floyd: US probe

Police in the city where patrol officers murdered African American George Floyd routinely resort to violent and racist practices, the US Justice Department said Friday in findings of a review three years after his death.

Putin proclaims end of 'ugly neo-colonialism'

President Vladimir Putin on Friday proclaimed the end of "neo-colonialism" in international politics and praised Russia's economic strategy following its ruptured ties with the West.

Crunch time at UPS as workers vote to authorize potential strike

The Teamsters, which represents hundreds of thousands of UPS employees, announced Friday that workers authorized a potential strike against the delivery service, handing union leadership additional bargaining powers during negotiations.

Michael Jordan to sell majority stake in NBA's Charlotte Hornets: team

Basketball legend Michael Jordan will sell his majority stake in the NBA's Charlotte Hornets to an investment consortium, the team announced Friday.

Stocks wobble after busy week for central banks

World stock markets mostly rose Friday and currencies gyrated as investors digested diverging interest-rate decisions by central banks on three continents this week.

Stocks climb after busy week for central banks

World stock markets rose Friday and currencies gyrated as investors digested diverging interest-rate decisions by central banks on three continents this week.

French officials squabble over revolutionary manifesto

French officials are fighting for possession of 1793 manifesto by a woman justifying her decision to stab a revolutionary leader to death, with local authorities saying Friday they will take the case to court.

'Better stay home': Kyiv's grim bomb shelters deter residents

An old door has been laid over broken steps to provide a precarious way down to a bomb shelter in the east of Ukraine's capital Kyiv.

Sawt Falasteen - Economy (English)