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

Online search to make up lost time with AI

Online search, dominated by Google for 25 years, has become as banal as making a phone call, but it could finally be getting a profound reset thanks to artificial intelligence.

Yellen reiterates debt default warning before Biden-McCarthy talks

Treasury Secretary Janet Yellen said new data reinforced an earlier warning that the US could default on its debts as early as June 1, ahead of crunch talks Tuesday between President Joe Biden and Republican leaders.

Ex SVB head says social media 'fueled' run on doomed bank

The former head of Silicon Valley Bank blamed the lender's sudden collapse on a "social media fueled run" on it, according to congressional testimony released Monday.

France probes Apple over restricting smartphone repair

France is investigating US tech giant Apple over it allegedly planning for smartphones to become out of date through restricting their repair, prosecutors and an association said on Monday.

Argentina ramps interest rate to 97% as inflation soars

Argentina's central bank hiked its base interest rate Monday by six points to 97 percent as the government prepares to announce a spate of measures to tackle soaring inflation ahead of October's general election.

Islamic scholar Tariq Ramadan goes on trial over alleged rape

The Swiss Islamic scholar Tariq Ramadan went on trial in Geneva on Monday charged with "rape and sexual coercion", allegations which the former Oxford University professor denied.

Climate change makes cyclones more intense, destructive: scientists

Climate change does not make cyclones, such as that battering Bangladesh, more frequent but it does render them more intense and destructive, according to climatologists and weather experts.

Stocks skittish as US debt talks continue

Wall Street stocks failed to gain traction Monday after President Joe Biden said he was "optimistic" about finding an agreement on averting a first-ever US default.

Macron, Musk meet in Paris to discuss investment projects

President Emmanuel Macron met billionaire businessman Elon Musk on Monday to discuss future investment projects, as the French leader hosts a conference aimed at persuading business leaders to put their money in France.

Stock markets jump with focus on US debt, elections

Major stock markets advanced Monday after President Joe Biden said he was "optimistic" about finding an agreement on averting a first-ever US default.

Europe resists energy crunch, boosting growth forecast

Europe's economy rode out the energy price crisis triggered by Russia's war on Ukraine with better than expected economic growth, Brussels said Monday, as it boosted its forecast.

Cannes braces for stars and protests

The Cannes Film Festival was preparing to roll out the red carpet on Monday for a star-packed edition featuring Harrison Ford, Johnny Depp and Natalie Portman -- but also concerns over protests by French unions.

Vice Media files for bankruptcy protection

Vice Media, once the darling of the digital news media world, said Monday it had filed for Chapter 11 bankruptcy protection to facilitate its sale.

Turkey braces for momentous runoff after election drama

Turkey braced Monday for its first election runoff after a night of high drama showed President Recep Tayyip Erdogan edging ahead of his secular rival but failing to secure a first-round win.

Biden 'optimistic' on debt talks with Republicans as default looms

President Joe Biden said Sunday he remains "optimistic" about finding an agreement with his Republican opponents to raise the US debt limit and avoid a default, which his administration warned would cause "catastrophic" consequences.

Turkey's knife-edge vote heads to likely runoff

Turkey's landmark election headed Sunday to a likely runoff following a stormy night in which President Recep Tayyip Erdogan's secular rivals contested the ballot count.

Biden admin warns of 'catastrophic' default as debt talks continue

President Joe Biden's administration again warned Sunday of "catastrophic" consequences for the US economy if the country defaults, as negotiations with Republicans over a debt deal are expected to resume in the week ahead.

'Guardians' enjoys galactic box office earnings for 2nd week in row

Marvel's "Guardians of the Galaxy Vol. 3" trounced the competition for the second straight weekend in North American theaters, earning $60.5 million for a global haul topping half a billion dollars, industry watcher Exhibitor Relations reported Sunday.

Erdogan takes early lead in crucial Turkish election

Turkish President Recep Tayyip Erdogan took an early lead on Sunday in a landmark election that could extend his two-decade grip on power or put the mostly Muslim nation on a more secular course.

Legal fund for man charged in New York subway death tops $1.6 mn

A crowdfunding effort supporting the man charged over the chokehold death of a homeless person in New York has raised more than $1.6 million on a platform known for facilitating funding of far-right figures.

Two Ligue 1 players refuse to play in protest at anti-homophobia campaign

Toulouse's Zakaria Aboukhlal and Nantes' Mostafa Mohamed were omitted from the teamsheet for the Ligue 1 clash between the two clubs on Sunday after refusing to participate in a campaign against homophobia.

Turkish polls close with Erdogan's fate hanging in balance

Turkish polling stations closed Sunday in a knife-edge election that could end President Recep Tayyip Erdogan's two-decade grip on power and put the mostly Muslim nation on a more secular course.

Panama Canal maintenance work aims to extend its life by a century

From their vantage point in cranes overlooking the Panama Canal, operators scrutinize the century-old walls of one of its locks as the high-pitched siren of a merchant ship resonates from nearby.

Former exec at TikTok parent firm sues, citing 'lawlessness'

A former US-based executive of ByteDance, the Chinese company that owns TikTok, has sued it for wrongful dismissal, saying he was fired for sounding the alarm over what he called its "culture of lawlessness."

New rules spur migrants to seek legal path to US

With tough new asylum rules in place, many migrants on the US-Mexico border were seeking legal routes Saturday to enter the United States, despite warnings of a chaotic surge in crossings.

Erdogan leads prayers on eve of fight for political life

Turkish President Recep Tayyip Erdogan will lead Saturday prayers at Istanbul's iconic Hagia Sophia mosque, ahead of a battle for his political life against a powerful secular rival.

G7 finance chiefs move to diversify supply chains

The G7 plans to launch a partnership scheme to diversify supply chains this year, ministers from the group said Saturday following finance talks in Japan ahead of a major summit next week.

US-Mexico border calm as new asylum rules take effect

The US-Mexico border appeared calm on Friday as tough asylum rules come into force, with senior officials in Washington expressing confidence that the new system would work.

Linda Yaccarino to bring vaunted ad skills to Twitter

Named Friday as Elon Musk's successor as Twitter CEO, Linda Yaccarino is a respected media and advertising executive considered a visionary by some.

Argentina annual inflation exceeds 108 percent in April

Inflation in Argentina reached 108.8 percent in the 12 months to April, a more than three decade high, the Indec national statistics institute said Friday.

Stocks mixed as traders weigh inflation, US debt ceiling uncertainty

Stock markets were mixed on Friday as traders weighed a range of issues, including US debt-ceiling hopes, expected central bank calculations and more signs of a slowing economy.

Ranchers fear for livestock as Canada wildfires rage

Rancher BJ Fuchs hasn't been able to let his guard down as wildfires advanced in Canada's Alberta province, so far sparing his farm in Shining Bank but scorching forests and grasslands all around it.

Sawt Falasteen - Economy (English)