Sawt Falasteen - Economy

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Featured

Anthropic unveils IPO filing showing soaring sales and AI risks

Anthropic, one of the world’s leading artificial intelligence companies, on Monday made public its plans to sell shares on the stock market, a significant test of whether the AI boom can deliver profits.

Stocks climb ahead of tech earnings, central bank calls

The world's main stock markets mostly climbed Monday as investors geared up for the week's crucial run of central bank decisions and tech earnings, while oil prices retreated from a six-month high.

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Stocks mostly rise, dollar dips before US midterms

Global stock markets mostly rose Monday, extending last week's strong gains, while dollar dipped against key rivals ahead of this week's US midterm elections.

EU threatens US over electric car subsidies

The European Union threatened Monday to take retaliatory measures against the United States for electric car subsidies that favour domestic manufacturers.

Stocks mostly rise, oil steady tracking China lockdown policy

Global stock markets mostly rose Monday, extending last week's strong gains, while oil prices steadied after China reaffirmed its commitment to an economically painful zero-Covid policy.

Ukraine hails new air defences, warns power situation 'tense'

Ukraine announced Monday it had received more air defence systems from Western military allies, as officials in Kyiv said the situation with supplies was "tense" after protracted Russian attacks on energy facilities.

Black marketeers grease the wheels in Central Africa's petrol crisis

The Tradex petrol station on Bangui's Boganda avenue stands deserted, except for a lone goat wandering between the empty pumps.

Stocks mostly rise, oil falls tracking China lockdown policy

Stock markets mostly rose Monday, extending last week's strong gains, while oil prices fell after China reaffirmed its commitment to its economically painful zero-Covid policy.

Tanzania pays tearful tribute to plane crash victims

Grieving Tanzanians paid emotional tribute Monday to 19 people killed when a passenger plane plunged into Lake Victoria in the country's deadliest air crash in decades.

Ryanair flies into profit, eyes strong outlook

Irish airline Ryanair flew back into a first-half profit Monday and forecast a strong outlook despite recession headwinds in Europe, as air travel rebounds after the lifting of Covid restrictions.

Kenya Airways cancels 'most flights' over pilots' strike

Kenya Airways cancelled most flights Monday as a pilots' strike entered its third day, with thousands of travellers stranded and the government threatening disciplinary action if staff don't return to work.

Asian markets rise despite China's zero-Covid pledge

Asian stocks made gains on Monday, with a fresh rally seen in Hong Kong even after China reaffirmed its commitment to its economically painful zero-Covid policy.

China exports fall in October, first decline since 2020

China's exports shrank in October, the first such decline since mid-2020, customs authorities said Monday, as a domestic slowdown and the threat of global recession hit international trade.

Asian markets mostly up after solid US jobs data

Most Asian markets started the week with gains Monday following strong US jobs data, although stocks in Shanghai were flat after China said it would stick to its strict zero-Covid policy.

'Why are we here?': Climate activists shunted to COP27 sidelines

Ugandan youth activist Nyombi Morris arrived in Egypt for the UN's COP27 climate summit with high hopes of being part of the campaign for environmental justice.

Africa's mega-cities look to mass transit to ease growing pains

Tade Balogun times his commute like a military operation.

Stand-off at port as Italy accepts only some rescued migrants

Italy on Sunday took in families with babies and vulnerable migrants rescued in the Mediterranean as charities slammed Rome's decision to order the others back into international waters.

'Black Adam' extends its stay atop N.America box office

Warner Bros.' superhero film "Black Adam" held onto the top spot in North American theaters on a sleepy weekend, taking in an estimated $18.5 million, industry watcher Exhibitor Relations reported Sunday.

Kenya govt threatens striking pilots with disciplinary action

Pilots on strike at Kenya Airways will face disciplinary action if they don't return to work immediately, the government said Sunday, with thousands of passengers stranded for a second day after dozens of fresh flight cancellations.

Kenya Airways pilots extend strike

Kenya Airways pilots on Sunday extended their strike and warned of "major flight disruptions", forcing fresh cancellations as the carrier's deadline for disciplinary action against those participating lapsed.

UN climate summit opens with warning against 'backsliding'

The UN's COP27 climate summit kicked off Sunday in Egypt with warnings against backsliding on efforts to cut emissions and calls for rich nations to compensate poor countries after a year of extreme weather disasters.

US Powerball jackpot grows to record $1.9 bn

The US Powerball jackpot has grown to a massive $1.9 billion after no one won Saturday's already record prize.

Italy lets minors, sick off migrant rescue boat but spurns 35 others

Italy let minors and sick people off a German-flagged rescue vessel Sunday but refused to let 35 male adult migrants off, to the rejected survivors' despair.

In UK first, nurses vote to strike: media

Nurses across the UK have voted to strike in their first national action over a pay dispute, a media report said on Sunday.

By taking Twitter private, Musk makes daring bet

Elon Musk's decision to pull Twitter off the stock market allows him to make major changes quickly, but it also takes the company more heavily into debt, a risky choice for a money-losing business.

Anatomy of the week the Musk tornado hit Twitter

The whirlwind week that Elon Musk took over Twitter began with sleepless nights for company engineers -- and ended with half the staff getting the axe.

Italy may let in vulnerable migrants off rescue ship but spurn others

Children and sick or vulnerable people are expected to be allowed off a German-flagged rescue vessel by Italy on Saturday but other migrants on board may be sent back into international waters despite worsening weather conditions.

Former Twitter CEO apologizes to staff after massive layoffs

Twitter co-founder and former CEO Jack Dorsey on Saturday apologized to company staff for growing the social media giant "too quickly" a day after roughly half of the company's 7,500 employees were fired by new owner Elon Musk.

Powerball fever hits US as drawing nears for $1.6 bn jackpot

Powerball mania hit the United States on Saturday hours before a drawing for a $1.6 billion jackpot, a world record.

Child migrants need safe port as tensions rise: rescue charities

Children rescued in the Mediterranean must be allowed to disembark in a safe port, charities said Saturday, as a stand-off with Italy over migrant arrivals intensified.

Pilot strike disrupts Kenya Airways flights

A strike by Kenya Airways pilots forced nearly two dozen flight cancellations on Saturday, affecting thousands of passengers, the beleaguered national carrier said.

Iranians stage new protest actions despite widening crackdown

Iranian students protested and shopkeepers went on strike Saturday despite a widening crackdown, according to reports on social media, as demonstrations that flared over Mahsa Amini's death entered an eighth week.

'No choice' but cholera water for Lebanon's poor

Marwa Khaled's teenage son was hospitalised with cholera after drinking polluted water in Lebanon's impoverished north -- yet she still buys the same contaminated water, the only kind she can afford.

China doubles down on zero-Covid after reopening rumours boosted markets

China said on Saturday that it would "unswervingly" stick to its zero-Covid policy, dampening the outlook for global markets following their recent surge on hopes that Beijing would cast aside some of its economically damaging virus curbs.

Sawt Falasteen - Economy (English)