Sawt Falasteen - Economy

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Featured

Musk wants to merge SpaceX and Tesla: Here's what to know

Elon Musk said this week that SpaceX and Tesla have formed special committees to study a merger of his two biggest companies.

France reports first human Shamonda virus case, says no health risk

French health authorities said Thursday that the Shamonda virus, which usually affects livestock, had been detected in a human for the first time, in a severely immunocompromised patient who died earlier this month.

Last news

UN puts Russia on 'list of shame' over children in conflict

The United Nations has put Russian military forces and proxy armed groups on its "list of shame" over violating children's rights in its war in Ukraine, according to a document seen by AFP Thursday.

Red Cross federation chief stepping down

The head of the Red Cross federation, the world's largest humanitarian network, is stepping down, a spokesman confirmed Thursday, following a row in Italy surrounding the Rome Pride event.

US home sales tick up in May but activity muted

Sales of existing homes in the United States edged up in May but activity remained muted on tighter supply and with interest rates still elevated, according to industry data released Thursday.

Cash-strapped Pakistan to lease part of Karachi port to UAE for $220 million

AD Ports Group of the United Arab Emirates (UAE) signed an agreement Thursday to take over the running of part of Pakistan's main Karachi docking facility in a deal worth an immediate $220 million, the company said.

Stock markets fall as central banks hike rates

Stock markets retreated Thursday as a clutch of central banks in Europe hiked interest rates again to combat persistently high inflation.

US Fed official says more rate hikes necessary

A senior US Federal Reserve official said Thursday that additional interest rate hikes are needed to tackle historically high inflation.

Climate goals depend on fixing global finance: top economist

If world leaders and the heads of multilateral development banks gathered at a Paris summit recognise that climate goals depend on revamping the architecture of global finance, it would be a "historic" development, a top development economist said Thursday.

Erkan: Former Wall Street star overseeing Turkey's troubles

Hafize Gaye Erkan can be forgiven for approaching her new job with caution after moving from the bright lights of Wall Street to the treacherous terrain of Turkey's much-maligned central bank, a place where job security is scarce.

BoE hikes rate half-point as high inflation persists

The Bank of England Thursday lifted its key interest rate by a half-point to five percent to tackle stubbornly high UK inflation despite such a move worsening a cost-of-living crisis.

Turkey hikes interest rate in Erdogan policy U-turn

Turkey on Thursday pivoted away from years of unconventional economics promoted by President Recep Tayyip Erdogan as the central bank nearly doubled its key interest rate to fight inflation and steady the troubled lira.

Musk and Zuckerberg call out each other for cage fight

Tech titans Mark Zuckerberg and Elon Musk are in a fierce business rivalry that has spilt over into a playground spat, with the two men offering to fight each other in a cage.

European stock markets retreat as central banks hike rates

European stock markets retreated Thursday as traders track more rate hikes from central banks aimed at cooling elevated inflation.

Markets track US losses with rates seen rising further

Markets in Asia and Europe fell on Thursday as traders contemplated the prospect of more central bank interest rate hikes as they struggle to tame persistently high inflation.

IMF, World Bank under pressure to boost climate change financing

International Monetary Fund (IMF) and World Bank officials are joining dozens of economic leaders for a two-day summit in Paris, aiming to tackle the interlinked challenges of poverty alleviation and climate change.

EU 'enforcer' visits Twitter, Meta as new rules loom

The EU commissioner in charge of enforcing Europe's new landmark rules on online content is heading to San Francisco on Thursday to ensure that the big platforms are ready.

Bank of England to hike again over stubborn inflation

The Bank of England is forecast Thursday to lift interest rates for the 13th time in a row -- and may hike sharply to fight stubborn inflation despite worsening a cost-of-living crisis.

Asian markets track US losses with rates seen rising further

Markets fell in Asia on Thursday as traders contemplated the prospect of more central bank interest rate hikes as they struggle to tame persistently high inflation.

Turkey set to pivot to orthodoxy with rate hike

Turkey was widely expected Thursday to pivot away from years of unconventional economics promoted by President Recep Tayyip Erdogan and dramatically raise interest rates to fight inflation and steady the troubled lira.

Paris climate summit seeks global finance reform

Dozens of global leaders will gather in Paris Thursday for a summit to tease out a new consensus on international economic reforms to help debt-burdened developing countries face a growing onslaught of challenges, particularly climate change.

Brazil holds key interest rate, no signal on easing

Brazil's central bank held its key interest rate unchanged a seventh straight time Wednesday and gave no sign it was prepared to start lowering it soon, despite pressure from President Luiz Inacio Lula da Silva.

Stocks dip as Fed Chair Powell warns of more 'moderate' rate hikes

Wall Street stocks fell after US Federal Reserve chief Jerome Powell warned Wednesday of further interest rate hikes, while European markets slid after a stubbornly high inflation reading in Britain.

Paris Olympic budget issues could force cuts, says government report

The 2024 Paris Olympics are coming in significantly over budget because of an "incomprehensible lack of understanding of the complexity of the IOC's specifications", France's Court of Audit has found.

Fed chief says more rate hikes likely but at slower pace

The US Federal Reserve expects to keep raising interest rates but at a slower pace, Fed chair Jerome Powell told a congressional hearing Wednesday.

Welly boot maker Hunter whacked by weather

Their popularity soared when the supermodel Kate Moss wore them in the mud at the Glastonbury music festival, which started on Wednesday in southwest England.

Stocks dip as Powell warns of more 'moderate' rate hikes

Wall Street stocks mostly fell after US Federal Reserve chief Jerome Powell warned Wednesday of further interest rate hikes, while European markets slid after a stubbornly high inflation reading in Britain.

Drones steal the spotlight at Paris Air Show

Drones of all shapes and sizes designed to carry more and more weapons or directly deliver explosives are everywhere at the Paris Air Show, matching the scale of their deployment on Ukrainian battlefields.

US agency sues Amazon for tricking customers into subscription service

Amazon tricked consumers into subscribing to its "Prime" service and intentionally complicated the cancelation process, according to a US lawsuit against the retail giant filed Tuesday.

Fed Chair: may make sense to raise rates but at 'more moderate pace'

The US Federal Reserve expects to continue raising interest rates but to slow down the pace of hikes, Fed chair Jerome Powell told a Congressional hearing Wednesday.

Stocks dip as Powell warns of more rate hikes

Stock markets fell Wednesday as investors fretted about stubbornly high inflation in Britain and warnings from US Federal Reserve chief Jerome Powell that further interest rate hikes were likely.

Top French court drops rape case against filmmaker Luc Besson

France's top appeals court on Wednesday rejected a request to reopen a rape claim against film director Luc Besson, ending one of the most high-profile cases to emerge in the country's MeToo movement against sexual assault.

Influencer Andrew Tate fights Romania house arrest

Influencer Andrew Tate and his brother appeared in court in Romania Wednesday, their lawyers arguing that the pair, indicted on human trafficking charges, should no longer be under house arrest.

Stock markets dip as UK inflation stays high

Stock markets fell Wednesday as investors fretted about stubbornly high inflation in Britain and braced for fresh interest-rate signals from US Federal Reserve chief Jerome Powell.

Sawt Falasteen - Economy (English)