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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Guam 'weathers storm' as Typhoon Mawar moves west

Typhoon Mawar was moving away from Guam on Thursday, prompting the governor of the US territory to declare the island had "weathered the storm."

Germany in recession as inflation, higher interest bite

Germany fell into a recession around the turn of the year, official figures published Thursday showed, as inflation and higher interest rates curbed demand in Europe's largest economy.

High-stakes talks to end plastic pollution resume

Negotiations on a global treaty to combat plastic pollution will resume Monday, with nations under pressure to stem the tide of trash amid calls from campaigners to limit industry influence on the talks.

Most markets down as US debt impasse sparks Fitch ratings warning

Most Asian equities sank Thursday on fears of a US default as the struggle to hammer out a debt deal led Fitch to warn the country's gold-plated credit rating was at risk.

US, Microsoft warn Chinese hackers attacking 'critical' infrastructure

State-sponsored Chinese hackers have infiltrated critical US infrastructure networks, the United States, its Western allies and Microsoft said Wednesday while warning that similar espionage attacks could be occurring globally.

Singapore economy beats estimates but govt warns of global risks

Singapore's economy posted better-than-expected results in the first quarter of 2023, official data showed Thursday, but the government warned that the global outlook remains gloomy.

Typhoon Mawar leaves trail of destruction as it moves from Guam

A typhoon that slammed into Guam, knocking out power and flooding buildings with a powerful storm surge, was moving away Thursday -- leaving residents of the US Pacific Ocean territory to survey the damage.

US warned debt standoff could hit credit rating

Ratings agency Fitch put the United States on notice Wednesday that its perfect credit rating could be jeopardized if the White House and Republican opposition fail to overcome their impasse on raising the nation's borrowing limit, a week before a key deadline.

ECB vows to win inflation fight on 25th birthday

European Central Bank president Christine Lagarde pledged Wednesday to reduce high inflation in the eurozone as the institution that safeguards the euro marked its 25th anniversary.

Rodrygo raises fist in Vinicius tribute as Madrid beat Rayo

Rodrygo struck a late winner for Real Madrid in a 2-1 La Liga victory over Rayo Vallecano and raised his fist into the air in a nod to team-mate Vinicius Junior.

Fed economists still expect 'mild recession,' May minutes show

US Federal Reserve economists still expected a "mild recession" at the most recent interest-rate meeting earlier this month, according to minutes of the meeting published Wednesday.

Madrid supports Vinicius after racist abuse, global outrage continues

Vinicius Junior's Real Madrid team-mates showed him support after he was racially abused by wearing his number 20 shirt before their La Liga match against Rayo Vallecano on Wednesday.

EU, Google want 'voluntary' AI rules: commissioner

The EU and Google want voluntary rules on AI before a new law comes into force in the bloc to regulate the rapidly advancing technology, the bloc's industry commissioner Thierry Breton said Wednesday.

Citi plans IPO for Mexican unit Banamex

Citi announced Wednesday that it will launch an initial public offering of its Mexican business Banamex, shifting away from a plan to possibly divest the operation.

Stocks sink over US debt ceiling concerns

Stock markets slipped on Wednesday as investors grow increasingly concerned about stalled US debt ceiling talks aimed at averting a painful default.

Stocks sink as stuttering US debt talks fuel default fears

Asian and European stock markets slumped Wednesday as investors grew increasingly concerned about stalled US debt ceiling talks aimed at averting a painful default.

Taiwan's Quanta Computer confirms new investment in Mexico

Taiwan's Quanta Computer confirmed it had "investment plans" in Mexico on Wednesday after the governor of Nuevo Leon announced the company would pump an additional $1 billion into his state.

Typhoon Mawar pounds Guam with destructive winds

Typhoon Mawar roared over the US territory of Guam on Wednesday, bringing destructive winds to the Pacific military outpost.

UK inflation slides to 13-month low, stays elevated

Britain's annual inflation rate struck a 13-month low in April, official data showed Wednesday, but remains elevated at 8.7 percent as soaring food prices offset weaker energy costs, prolonging a cost-of-living crisis.

In Venice, an architectural toolbox to adapt to climate change

From dry toilets to recovered water captured by air conditioners, the Venice Architecture Biennale is full of ideas for how to tackle climate change.

UK annual inflation slides to 13-month low

Britain's annual inflation rate fell sharply to a 13-month low of 8.7 percent in April but prices remain elevated as the country faces a cost-of-living crisis, official data showed Wednesday.

Markets sink as US debt talks stall, fuelling default fears

Stock markets tracked losses in Wall Street on Wednesday as investors grow increasingly concerned about stalled US debt ceiling talks aimed at averting a painful default.

Turkey's opposition woos Erdogan's vast housewife vote

A feminist voice rings out from behind the mounds of strawberries and olives in an Istanbul bazaar: "Let's get rid of Erdogan!"

India PM says 'separatists' must not harm Australia ties

Prime Minister Narendra Modi warned Wednesday that "separatist elements" should not be allowed to hurt India-Australia relations, after he was lavished with a rockstar welcome in Sydney.

Typhoon Mawar set for direct hit on Guam

Typhoon Mawar, packing potentially catastrophic winds, was on Wednesday heading for a direct hit on Guam, a US territory in the Pacific that is home to a crucial military outpost.

German chip charge could short-circuit on myriad challenges

Germany is seeking to lead a European charge to boost chip production with a series of mega-investments but the drive faces challenges ranging from high energy prices to subsidy rows and worker shortages.

South Carolina to become latest US state to restrict abortion

The South Carolina Senate voted on Tuesday to ban abortion after six weeks of pregnancy, despite an attempt to block the bill by the legislative body's five female lawmakers, including three Republicans.

Inflation crashes the party as ECB marks 25 years

The European Central Bank celebrates its 25th anniversary Wednesday but soaring inflation in the eurozone threatens to put a damper on festivities at the Frankfurt-based financial institution.

Asian markets sink as US debt talks stall

Asian markets tracked losses in Wall Street on Wednesday as investors grow increasingly concerned about stalled US debt ceiling talks to avert a painful default.

'Modern slavery' most common in North Korea and Eritrea: study

North Korea, Eritrea and Mauritania have the highest prevalence of modern slavery in the world, according to the 2023 Global Slavery Index published Wednesday, which noted a "worsening" situation globally since its last survey five years earlier.

Guam braces for direct hit from Typhoon Mawar

Typhoon Mawar packing potentially catastrophic winds was heading Wednesday for a direct hit on Guam, a US territory in the Pacific that is a crucial American military outpost.

$6 mn raised to preserve Nina Simone's childhood home

An art auction and New York gala have raised nearly $6 million to preserve and restore the childhood home of soul music legend and civil rights activist Nina Simone, organizers said Tuesday.

Sawt Falasteen - Economy (English)