Sawt Falasteen - Economy

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Featured

A Viking longship in 'The Odyssey'? It's a case of history meets Hollywood

The eras of "The Odyssey" and the Vikings happened about 2,000 years apart -- so how did a Viking longship end up with a starring role in this year's blockbuster movie?

Copper powers profit rise at mining giant BHP

Australian mining titan BHP reported Tuesday a solid rise in annual profit boosted by surging prices for copper -- a key metal for the global energy transition and AI data centres.

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China banks to repay more customers after protests

Chinese regulators on Friday offered repayments to more customers of rural banks whose withdrawals were frozen, in the ongoing saga of one of the country's biggest-ever banking scandals that triggered rare mass protests.

UK retail sales in surprise rebound

British retail sales surprisingly rose overall in July but consumer confidence is at a record-low level as the UK heads towards recession under a new leader, data showed Friday.

Stocks mostly retreat, oil slides over recession fears

Stock markets mainly dropped on Friday, with investors focused firmly on the outlook for interest rate hikes as central banks battle to bring down sky-high inflation.

Pro-Putin rapper opens Starbucks successor in Moscow

Re-branded as Stars Coffee, the successor of Starbucks welcomed its first visitors in Moscow on Friday after the Seattle-based coffee shop chain withdrew from the Russian market over the conflict in Ukraine.

Strikes bring London transport system to near halt

Public transport workers in London held fresh strikes Friday over pay and conditions, cutting services on almost all underground and overground rail lines that link up the UK capital.

Fuel price hikes, scarce rice add to hardship in Myanmar

Dozens of people queue under monsoon drizzle for subsidised cooking oil in Myanmar's commercial hub Yangon, waiting for one of the many commodities that have become scarce as economic misery strikes the city.

Asian, European markets drop as investors assess Fed outlook

Most stocks swung lower on Friday as investors fret over the Federal Reserve's plans for lifting interest rates to fight inflation, with mixed data and differing opinions by bank officials providing little clarity.

Asian markets drift as investors assess Fed outlook

Stocks swung in Asia on Friday as investors tried to assess the Federal Reserve's plans for lifting interest rates to fight inflation, with mixed data and differing opinions by bank officials providing little clarity.

Academy unearths long-lost 'race films' in Black cinema exhibit

Long before Denzel Washington, Spike Lee or even Sidney Poitier, generations of pioneering and revolutionary Black US filmmakers played a key role in shaping early American cinema and dispelling pejorative stereotypes, a major new Hollywood exhibition argues.

Oil prices fall but inflation stays high

Oil prices have dropped by a quarter since June and could fall further if a nuclear deal is reached with Iran as it would bring more crude to the market, yet inflation remains stubbornly high.

Stocks mostly up as markets digest Fed rate signals

US and European stock markets mostly rose on Thursday as investors digested US economic data and Federal Reserve signals that it will maintain its agressive monetary-tightening policy to combat inflation.

UK pet owners face grim choices amid soaring costs

Unable to afford the cost of cremation for his much-loved dog Khan under the weight of sharply increasing living costs, David Mcauliffe turned to a social media group offering help for under-pressure pet owners.

Germany to fall short of gas stock targets: regulator

The head of Germany's energy regulator said on Thursday that the country would almost certainly fail to meet its gas reserve targets in the face of a Russian supply squeeze.

In UK, workers strike as inflation crushes earnings

Railway and postal staff, dockers too. Britain's workers are striking in vast numbers as decades-high inflation erodes the value of wages at a record pace.

Okinawa to Atlanta: Japan's hip-hop queen Awich

The self-proclaimed queen of Japanese hip-hop Awich has stories to tell, from discovering rap as a rebellious teenager in Okinawa to losing her husband to gun violence in America.

Cuba unable to identify remains of 14 firefighters after fuel plant blaze

The remains of 14 firefighters who died combatting a major blaze at a Cuban fuel depot last week are too badly burned to be identified, a specialist said Wednesday.

UN's Guterres, Turkey's Erdogan to meet Zelensky in Ukraine

UN chief Antonio Guterres will meet the leaders of Ukraine and Turkey in Lviv on Thursday, following a deal reached last month that allowed the resumption of grain exports after Russia's invasion blocked essential global supplies.

Fed says more US rate hikes coming, pace will slow 'at some point'

US central bankers remain committed to raising interest rates further to quell rising prices, but agreed it would be appropriate to slow the pace of the hikes "at some point," the Federal Reserve said Wednesday.

More US rate hikes coming but 'at some point' pace will slow: Fed

US central bankers remain committed to raising interest rates further to quell rising prices, but agreed that "at some point" it would be appropriate to slow the pace of such hikes, the Federal Reserve said Wednesday.

Boxing star Joshua avoids comment in Saudi as tweeter jailed

Boxer Anthony Joshua declined to comment on human rights in Saudi Arabia as news broke Wednesday that a woman had been jailed for 34 years over her Twitter activity, days before his world heavyweight fight in Jeddah.

IMF sees Saudi growth soaring 7.6% this year on high oil prices

The Saudi economy is expected to grow 7.6 percent this year, up from 3.2 percent in 2021, on the back of soaring oil revenues, the International Monetary Fund said Wednesday.

US retail sales flatline in July as gas prices fall

US retail sales held steady in July as gas prices fell sharply, but the new data released Wednesday showed consumers are still spending, keeping the pressure on the Federal Reserve to continue its aggressive interest rate hikes.

Chinese tech giant Tencent revenue falls for first time since going public

Chinese tech giant Tencent on Wednesday posted its first drop in quarterly revenue since going public, as the company grapples with China's economic downturn, pandemic disruptions and ongoing scrutiny from regulators.

Tech stocks sink world's biggest sovereign wealth fund

Norway's sovereign wealth fund, the world's largest, shrank by some 1.68 trillion kroner ($173.2 billion) in the first half of the year, weighed down by tech stocks, the Norwegian central bank said Wednesday.

China reconnects nuclear reactor after shutdown due to damage

A nuclear reactor in southern China has been reconnected to the electricity grid more than a year after it was shut down to repair damage, its operator said.

UK inflation hits new 40-year high as food prices rocket

British inflation surged to a new 40-year high in July on soaring food prices, official data showed Wednesday, adding to a cost-of-living crisis as the country faces the prospect of recession.

South Korean founder of failed Terra coin admits he was 'wrong'

The co-founder of the failed Terra cryptocurrency, which collapsed and wiped out about $40 billion of investors' money in May, has admitted he was "wrong", but said that he was not talking to South Korean investigators.

Markets track Wall St up as traders weigh economic outlook

Markets rose with oil prices on Wednesday following a rally on Wall Street, with Asia given a lift after China's premier called for more measures to boost the struggling economy.

Asian markets track Wall St up as traders weigh economic outlook

Markets rose in Asia on Wednesday following a rally on Wall Street and after China's premier called for more measures to boost the struggling economy.

Asian markets fluctuate as traders weigh economic outlook

Markets drifted in Asia on Wednesday, with investors trying to navigate an uncertain economic landscape as central banks hike interest rates to fight runaway inflation, in turn fuelling fears of a possible recession.

Cuba authorizes foreign investment in wholesale, retail

The Cuban government has announced it will allow foreign investment in domestic wholesale and retail trade for the first time in 60 years, in a move aimed at addressing critical shortages of goods.

Stocks end mostly higher amid mixed economic news

Global stocks moved mostly higher on Tuesday, as investors were buffeted by mixed economic news and a surge in European natural gas prices that later reversed.

Sawt Falasteen - Economy (English)