Sawt Falasteen - Economy

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Featured

UK set for 'limited' budget giveaways as borrowing costs surge

British Prime Minister Andy Burnham's new government unveils its first budget Wednesday, testing a commitment to ease the cost of living and ramp up defence spending with little financial room for manoeuvre.

Canada-EU summit seeks deepened alliance as US ties fray

Canadian and European Union leaders meet in Montreal this week for a summit aimed at deepening their alliance as both sides navigate tumultuous relations with the United States.

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Alibaba reports loss of $2.9 billion in third quarter

Chinese e-commerce giant Alibaba on Thursday reported a loss of 20.6 billion yuan ($2.89 billion) for the third quarter, as the company grapples with an economic slowdown and an anti-monopoly crackdown.

Binance boss pledges to release audit, throws 'psychopath' jab

The head of Binance, the world's top cryptocurrency exchange, pledged Thursday to release an audit into the firm and rejected claims he sparked the recent collapse of rival platform FTX.

Russian mines in Ukraine 'greatest challenge' to landmark ban treaty

Russia's use of newly-produced landmines in Ukraine poses the greatest challenge to a landmark global ban treaty forged 25 years ago, a monitor said Thursday.

Europe stocks mostly drop before UK budget

European equities mostly fell Thursday with London on tenterhooks before a painful UK budget set to rip up the country's economic forecasts.

S. Korea, Saudi Arabia agree to boost energy and defence ties

The leaders of South Korea and Saudi Arabia agreed Thursday to boost ties in key sectors such as energy and defence, with the oil-rich kingdom signing a slew of deals including a $6.7 billion petrochemical agreement.

Markets hurt as rate hike woes return to the fore

Trading was subdued on Thursday as the optimism that characterised recent sessions was dealt a blow by data showing a resilience among US consumers that gives the Federal Reserve room to keep hiking interest rates.

Asian markets hurt as rate hike woes return to the fore

Trading was subdued in Asia on Thursday as the optimism that characterised recent sessions was dealt a blow by data showing a resilience among US consumers that gives the Federal Reserve room to keep hiking interest rates.

Rising temperatures boost olive growing in Bosnia

Winemaker and olive grower Jure Susac's land in Bosnia used to be blanketed with frost or even snow by autumn's end, but years of rising temperatures now mean balmy weather late into the year.

Greece's treasures caught between tourism and conservation

With 18 UNESCO World Heritage sites, including the Acropolis facing a new push for tourism, experts are calling for a "fine balance" to be struck between protecting Greece's great ancient monuments and further development.

As Qatar World Cup looms, street cricket rules for Gulf migrant workers

It is 7:00 am in Dubai and as the sun peeks above high-rises, it reveals an animated scene below: about 200 people, mostly men, wielding bats and taped-up tennis balls in a weekly festival of street cricket.

Warhol piece sells for $85 mn at New York auction

Andy Warhol's iconic 1960s painting "White Disaster" sold for $85 million at auction Wednesday evening at Sotheby's in New York.

Out of the box: defying stereotypes in 'Return to Seoul'

It is Cambodia's next Oscars entry, has a Korean-born France-based star, a French-Cambodian director, and was shot in South Korea.

Asian markets sink as rate hike woes return to the fore

UK budget set to deliver more economic pain

Britain is set Thursday to unveil hefty tax rises and spending cuts at the risk of worsening a cost-of-living crisis for millions in the recession-bound economy.

European equities slip on Ukraine fears, US markets slump

Global markets slid Wednesday with investors in Europe spooked by a deadly missile blast in Poland, while US markets fretted over a major retailer's warnings about a weak holiday season.

NATO believes Poland blast an 'accident,' Kyiv assails Russia

Western leaders moved to calm fears of a dangerous escalation in Russia's war in Ukraine Wednesday, saying a missile blast in Poland was likely an accident, while Kyiv pushed back hard at the idea its anti-aircraft fire was to blame.

CNN tells New Year anchors to lay off the booze

Cable news giant CNN has told its celebrity presenters they need to cut back the on-air boozing this New Year's Eve, with bosses seemingly determined to make their broadcast a more sober affair.

US Fed official open to slower rate hike in December

Recent signs of easing inflation pressures and a slowing US economy could allow the central bank to dial back the pace of interest rate hikes, Federal Reserve Governor Christopher Waller said on Wednesday.

US sports stars named in lawsuit over FTX's deceptive practices

High-profile US sports stars and personalities have been named in a lawsuit over deceptive practices targeting investors who became victims of the stunning collapse of cryptocurrency exchange FTX.

UK central bank blames Brexit for trade slump

Brexit is hurting the UK economy, Bank of England officials said Wednesday, even as government leaders downplay the impact of the seismic EU withdrawal.

In US trial, Musk defends his $50 bn pay deal at Tesla

Tesla tycoon Elon Musk on Wednesday defended his $50 billion pay package as CEO of the electric vehicle giant, arguing that the pioneering company was expected to collapse when the deal was agreed.

US retail sales bounce in October on auto and gas

US retail sales jumped more than expected in October, bumped up by higher gas prices and auto sales while pointing to resilience in spending in the face of price pressures, according to government data released Wednesday.

Israel blames Iran as 'drone strike' hits tanker off Oman

Israel blamed Iran on Wednesday after what it said was a drone strike hit a tanker operated by an Israeli-owned firm carrying gas oil off the coast of Oman.

European equities slip on Ukraine fears

European stock markets slid Wednesday, with investors spooked over a deadly missile blast in Poland near the border with Ukraine.

Indonesia proposes nickel producer bloc at Canada G20 talks

Indonesia has proposed the establishment of a bloc of the world's top nickel producers similar to the oil cartel OPEC in talks with Canada, its investment minister said.

Russia accuses Ukraine of Poland missile blast

Russia on Wednesday accused Ukraine of a deadly blast in Poland, with Belgium saying it was probably caused by Kyiv's air defences firing at Moscow's incoming missiles.

UK inflation accelerates to 41-year peak

British inflation has jumped to a 41-year high on soaring energy and food bills in a worsening cost-of-living crisis, data showed Wednesday on the eve of a key budget.

UK householders face squeeze as budget looms

Thursday's government budget is unlikely to be uppermost in the minds of people enjoying the annual light show on the seafront promenade of Blackpool.

Falconers hope to draw World Cup fans to Qatar heritage

In the deserts of northern Qatar, children with a falcon perched on gloves on their left arms show off their hunting birds in a bid to preserve an age-old tradition.

Asian stocks mostly down as Ukraine fears offset inflation hopes

Asian stocks mostly fell Wednesday as another positive US inflation report that fanned hopes of a slowdown in the Fed's rate hike campaign was offset by fresh geopolitical concerns over Ukraine and profit-taking.

Liftoff! NASA successfully launches mega Moon rocket

NASA launched the most powerful rocket ever built on a journey to the Moon on Wednesday, in a spectacular blaze of light and sound that marked the start of the space agency's new flagship program, Artemis.

Chagall painting stolen by Nazis sells for $7.4 mn at US auction

A painting by Marc Chagall, which was among 15 works stolen by Nazis and eventually returned by France to the heirs of the affected families, sold for $7.4 million at auction in New York Tuesday.

Sawt Falasteen - Economy (English)