Sawt Falasteen - Economy

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Featured

Southern African mothers plead for sons lured to Russia's war

Instead of celebrating her son's birthday this month, Zimbabwean mother Rodwin Chitewere spent the day praying for his body to be brought home from Russia, where he was reportedly killed fighting Moscow's war against Ukraine.

Campaigns kick off in Nigerian presidential race

Campaigning kicks off in Nigeria Wednesday, five months ahead of elections set to be dominated by crushing inflation and President Bola Tinubu's economic reforms.

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Stocks drop with eyes on China, US midterms

Stock markets fell Wednesday following weak Chinese data and as traders assessed results of US midterm elections.

IMF agrees $4.5 billion support package for Bangladesh

The International Monetary Fund said Wednesday it reached a preliminary agreement to provide Bangladesh with a $4.5 billion support package to help it cope with soaring energy and food prices.

Tumbling gas prices fail to subdue energy bills

European wholesale gas prices have fallen from record peaks reached after producer Russia's invasion of Ukraine, but energy bills remain sky high despite government help aimed at easing consumers' pain.

China unveils new orders for homegrown passenger jet

China announced Wednesday hundreds of new orders for its first domestically manufactured large passenger jet, with the aircraft poised to make its commercial debut early next year.

Dark clouds over China's economy as zero-Covid, global slowdown bite

A slew of lacklustre indicators for October show strict and enduring Covid curbs as well as a global slowdown are dragging on China's economy, analysts told AFP, with prospects looking increasingly grim for 2023.

Nissan hikes forecasts on weak yen despite falling unit sales

Nissan on Wednesday upgraded its full-year profit forecasts, as the depreciating yen helps inflate its overseas profits, despite ongoing challenges including Covid shutdowns and the global chip shortage.

Asian markets tepid with eyes on China, US midterms

Asian stocks made a positive start on Wednesday following gains on Wall Street, but lost momentum as factory gate prices in China fell for the first time in nearly two years.

Striking Kenya Airways pilots return to work

Kenya Airways pilots returned to work on Wednesday, after a court ordered them to end their days-long strike which had led to hundreds of flight cancellations and stranded thousands of passengers.

Moldova facing dark winter as energy crisis bites

A silence hangs over Ion Ignat's normally noisy factory in Chetrosu, Moldova, with his 50 workers fretting about their future.

Australian sentenced to 129 years in Philippine child sex abuse case: prosecutor

An Australian man has been sentenced to 129 years in a Philippine jail as part of a child sexual abuse case involving victims as young as 18 months, a prosecutor said Wednesday.

Turbulence ahead: Airline on the block in Sri Lanka reforms

Dozens of state-owned Sri Lankan companies employing tens of thousands of people could be restructured or closed as part of an IMF bailout of the bankrupt country, with the country's airline top of the list for reform.

Climbers at odds over far-right dogwhistle route names

Just outside Vienna, climbers scramble up "Fortress Europe", one of the routes up an impressive rockface towering over fields and forests.

Asian markets turn tepid after China factory data

Asian stocks made a positive start Wednesday following gains on Wall Street but lost momentum as factory gate prices in China fell for the first time in nearly two years.

China's ultra-rich squeezed by slowing economy: Hurun ranking

The wealth of China's billionaires this year dropped by the largest amount in more than two decades, according to an annual ranking, as zero-Covid curbs and a property market crisis stall the world's second-largest economy.

China factory gate prices fall for first time in nearly two years

Factory gate prices in China were down for the first time in nearly two years last month, official data showed Wednesday, as falling global commodity prices made their mark on an economy ailing under strict Covid controls.

Elon Musk sells nearly $4bn in Tesla stock: SEC filing

Tesla chief Elon Musk sold nearly $4 billion worth of shares in the electric car company, SEC filings showed Tuesday, more than a week after he closed his $44 billion acquisition of Twitter.

Why I voted -- Americans share what drew them to polls

For some, it was a sense of civic duty. For others, it was a chance to voice anger at inflation or high crime. Still more savored the opportunity to send a message to Washington.

NASA Moon rocket launch delayed again, this time by storm

NASA again rescheduled its long-delayed uncrewed mission to the Moon on Tuesday as Tropical Storm Nicole churned toward the east coast of Florida, officials said.

Migrants come ashore at Italian port as another ship heads to France

More than 200 migrants who have been waiting aboard a rescue ship after Italy refused them entry were allowed to come ashore Tuesday, as another vessel gave up hope and appealed to France for safe harbour.

French unions call Paris metro strike as inflation bites

Labour unions have called a major one-day strike which threatens to paralyse Paris public transport Thursday, the latest industrial action to demand relief from the French government over soaring prices.

Striking Kenya Airways pilots to resume work

Kenya Airways pilots will end their days-long strike and return to work on Wednesday morning, their union said, after a court ordered staff to resume operations in a breakthrough for the beleaguered airline.

Colonists nibble at Gran Chaco, South America's other big forest

Dwarfed by its more prestigious sibling, the Amazon, South America's second largest forest is a little-known victim of 25 years of gradual invasion by agriculture.

Fortune Pink diamond sells for more than $28.5 mn

The Fortune Pink diamond, an exceptionally rare giant gemstone, sold for more than $28.5 million at auction in Geneva on Tuesday to a private Asian collector.

Norway princess gives up royal duties for alternative medicine

Norway's Princess Martha Louise on Tuesday relinquished her royal duties in order to focus on her alternative medicine business with her fiance, a self-proclaimed shaman.

Global stocks move higher as US voters cast ballots

Global stock markets mostly moved higher on Tuesday as Americans headed to the polls in critical midterm elections.

'Toxic cover-up': UN draws red line around net zero greenwashing

The UN's chief called Tuesday for an end to a "toxic cover-up" by companies as a sweeping report said they cannot claim to be net zero if they invest in new fossil fuels, cause deforestation or offset emissions instead of reducing them.

Court orders striking Kenya Airways pilots back to work

A Nairobi court has ordered striking Kenya Airways pilots to return to work by Wednesday morning after the days-long walkout forced dozens of flight cancellations and left thousands of passengers stranded.

Global markets mixed ahead of US midterms

Asian and European stock markets traded mixed Tuesday in jittery deals as Americans head to the polls in critical midterm elections.

UAE, Egypt ink major wind energy deal on COP27 sidelines

The United Arab Emirates and Egypt agreed Tuesday to develop one of the world's largest wind farms in a deal struck on the sidelines of the UN's COP27 climate summit in Sharm el-Sheikh.

Renault unveils sweeping overhaul for electric future

French automaker Renault unveiled a sweeping green revamp Tuesday, splitting its operations in two: a new electric vehicle unit and a subsidiary for petrol, diesel and hybrid cars that will pair up with China's Geely.

Weak yen helps Nintendo lift annual net profit forecast

Nintendo raised its full-year net profit forecast on Tuesday, with the weak yen and a solid performance by new games helping compensate for falling sales of its Switch console.

'Black Panther' fights on without Chadwick Boseman

"Black Panther" returns to cinemas worldwide this week, having lost its star with the tragic early death of Chadwick Boseman, but none of its determination to push for greater diversity in superhero movies.

Sawt Falasteen - Economy (English)