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.

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Ukraine nuke plant safety at stake after dam damage

While there is "no immediate nuclear safety risk," the UN nuclear watchdog is exploring options to get water to keep cooling Europe's biggest atomic plant after a dam in southern Ukraine was damaged on Tuesday.

Oil slips after Saudi-driven rally; equities edge higher

Oil prices slid Tuesday as dealers mulled the weak demand outlook after having rallied the previous day on output cuts from key crude producer Saudi Arabia.

US securities regulator sues cryptocurrency platform Coinbase

US securities regulators sued Coinbase on Tuesday, alleging that the cryptocurrency platform's failure to register as a securities exchange venue exposed investors to risk.

Apple lays down the gauntlet to the metaverse

Tech giant Apple has unveiled its first major product in more than seven years, a mixed-reality headset that might just deliver a terminal blow to the "metaverse".

Oil sinks after Saudi-driven rally; equities flag

Oil prices sank Tuesday as dealers mulled the weak demand outlook after having rallied the previous day on output cuts from key crude producer Saudi Arabia.

S.Africa skirts recession with surprise first quarter growth

South Africa's economy grew slightly in the first three months of the year, shooing away fears of recession hanging over Africa's most industrialised country, official data showed Tuesday.

Finland's nuclear catacombs nearly ready to house waste

Deep within the bedrock in western Finland, flashing lights from heavy machinery cast shadows in eerie tunnels that lead to a tomb that must remain unperturbed for millennia.

Crisis-hit UK business lobby faces survival vote

Britain's scandal-hit business lobby group, the CBI, faces a vote crucial to its survival Tuesday, with members urged to back reform under new leadership after allegations of sexual harassment by staff.

Asian markets struggle to kick on after rally, with eyes on Fed

Asian markets wobbled Tuesday after a two-day rally as profit-takers stepped in and traders weighed the chances of the Federal Reserve skipping an interest rate hike this month.

French left in last-ditch bid to derail pensions overhaul

France's left-wing forces and labour unions will stage another day of strikes on Tuesday to try to derail President Emmanuel Macron's pensions overhaul, insisting that the fight to thwart the changes is not over even after it became law.

Musk says China detailed plans to regulate AI

Top Chinese officials told Elon Musk about plans to launch new regulations on artificial intelligence on his recent trip to the Asian giant, the tech billionaire said Monday, in his first comments on the two-day visit.

Lula leads tributes on anniversary of Amazon double murder

Brazilian President Luiz Inacio Lula da Silva urged the world Monday to ensure British journalist Dom Phillips and Brazilian Indigenous expert Bruno Pereira did not die in vain, at commemorations marking one year since their murder in the Amazon rainforest.

China inaugurates embassy in Honduras

China officially inaugurated its embassy in Honduras on Monday, just weeks after the Central American country switched its diplomatic allegiance from Taiwan to Beijing.

Mixed day for global stocks as Saudi announcement lifts oil prices

Oil prices advanced Monday after key producer Saudi Arabia slashed output by a million barrels in a bid to prop up prices, while Wall Street stocks retreated from multi-month peaks.

Qatar minister picked to head UN labour conference

Qatar's labour minister was on Monday appointed without a vote to head the International Labour Organization's annual decision-making conference, despite union criticism amid concerns over labour conditions in Qatar.

Three men risk jail in France over assault on Brigitte Macron's relative

Three men went on trial in France on Monday facing up to three and a half years in jail on charges of beating up the great-nephew of French first lady Brigitte Macron last month outside her family's chocolate shop.

Spotify to cut 200 staff working with podcasts

Swedish music streaming giant Spotify said Monday it will cut some 200 positions, equalling two percent of its workforce, as it slims down its internal podcast operations.

Divers fish deadly 'ghost nets' from Santorini's depths

Off the spectacular Greek tourist island of Santorini, divers drag deadly "ghost nets" from the depths of the Aegean Sea which have claimed the lives of thousands of fish.

Oil market rallies on Saudi output cut

Oil rallied Monday after key producer Saudi Arabia slashed output by a million barrels in a bid to prop up prices, while fellow OPEC+ members agreed to continue current cuts to 2024.

Trial begins for French youth accused of burning alive teen girl

A man went on trial in France on Monday facing accusations of stabbing and then burning alive a 15-year-old girl in 2019 who was likely pregnant by him at the time.

What we know about India's worst rail tragedy in decades

India's deadliest train disaster in decades killed at least 275 people and injured hundreds more, a tragedy officials have said was linked to an electronic signal system.

UBS says to complete Credit Suisse takeover on June 12

Swiss banking giant UBS is expected to complete its takeover of crisis-hit domestic rival Credit Suisse as early as June 12, the two lenders said on Monday.

Trains resume service 51 hours after deadly India crash

Passenger and freight trains were running again on Monday at the site of India's deadliest train disaster in decades, which officials said was caused by failures linked to signal systems.

Markets extend global rally after 'Goldilocks' US jobs data

Asian equities on Monday built on a global rally after a mixed US jobs report lifted hopes the Federal Reserve will hold off hiking interest rates this month.

Apple mixed-reality headset to take aim at the metaverse

Apple on Monday is expected to show off pricy mixed-reality headgear at its annual Worldwide Developers Conference, challenging Facebook-owner Meta in a market that has yet to sizzle.

Britain, Brazil mark anniversary of Amazon double murder

Loved ones and admirers are holding international commemorations Monday for British journalist Dom Phillips and Brazilian Indigenous expert Bruno Pereira, who were murdered a year ago while documenting environmental crimes in the Amazon rainforest.

Fossil fuelled: Climate talks begin with spotlight on oil chief

The future of fossil fuels -- the leading source of planet-heating emissions -- will face scrutiny at UN climate negotiations Monday with an under-fire Emirati oil chief poised to step into the driver's seat.

Pill halves risk of death in type of lung cancer

A pill has been shown to halve the risk of death from a certain type of lung cancer when taken daily after surgery to remove the tumor, according to clinical trial results presented on Sunday.

Saudi Arabia slashes output further to boost oil price

Riyadh on Sunday announced a fresh oil output cut following a meeting of major producers aiming to prop up prices despite fears of a recession.

Latest Spider-Man spins silver screen gold

"Spider-Man: Across the Spider-Verse," Sony's newest chapter in the webslinger series, soared to North American box office domination in its weekend debut, Sunday estimates showed, cementing the resilience of one of Hollywood's biggest superhero juggernauts.

Saudi Arabia announces fresh output cut to boost oil price

Riyadh on Sunday announced it would slash output further by one million barrels per day in a bid to prop up prices, despite fears of a recession.

In Ecuador biosphere, battle lines form over mining plans

The Choco Andino Biosphere Reserve near Ecuador's capital Quito is a UN-designated biodiversity hotspot -- and the center of an increasingly heated debate over mining.

Sawt Falasteen - Economy (English)