Sawt Falasteen - Economy

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Featured

Lamour leaves key FIFA position after criticising Infantino

Frenchman Kevin Lamour has left his role as FIFA's chief operating officer after criticising president Gianni Infantino's scrapped private investor plan, world football's governing body confirmed Monday.

OpenAI to lease massive new AI data center in US, backed by Nvidia

ChatGPT-maker OpenAI will lease a massive new data center in the United States for 20 years, backed by a $105 billion financing commitment from Nvidia, according to a regulatory filing published Monday.

Last news

Boeing profit falls as CEO eyes resumption of 787 deliveries

Boeing reported a drop in second-quarter profits on Wednesday due to the continued travails of the 787, but the company said it was close to receiving regulatory approval to resume deliveries of the plane.

Military aircraft drive US goods orders higher in June

An eye-popping surge in new orders for US military aircraft in June drove a surprise increase in demand for big-ticket manufactured goods, according to government data released Wednesday.

Joint centre for Ukraine grain exports opens in Istanbul

Turkey on Wednesday formally opened a joint coordination centre for Ukrainian grain exports under a UN-backed deal aimed at resuming shipments for the first time since Russia's February invasion of its neighbour.

Boeing profit falls as 787 deliveries still halted

Boeing reported a drop in second-quarter profits Wednesday on the continued halt to deliveries of the 787, in results that missed analyst expectations.

Russian anger after EU court upholds ban on RT

The Kremlin vowed to further restrict Western media in Russia on Wednesday after the EU's top court upheld European sanctions that took Moscow's RT channel off-air around the continent.

Markets mixed as traders await US rate decision

Stock markets traded mixed and the dollar retreated Wednesday as attention switched to the Federal Reserve and the size of its upcoming interest rate hike.

Miners unearth pink diamond believed to be largest seen in 300 years

Miners in Angola have unearthed a rare pure pink diamond that is believed to be the largest found in 300 years, the Australian site operator announced Wednesday.

Bitter harvest: Malaysian palm oil farmers face labour crunch

Overripe palm oil fruits hang untouched in trees while others lie rotting scattered around a plantation, as Malaysian farmers reap the bitter harvest of a severe labour shortage.

Eye-popping: Saudi prince unveils mirrored skyscraper eco-city

A futuristic Saudi megacity is to feature two skyscrapers extending across a swathe of desert and mountain terrain, according to the latest disclosures on the project by the kingdom's de facto ruler.

Most Asian markets down as Fed prepares latest hike

Stocks fell Wednesday as recession fears returned to the forefront of traders' minds ahead of an expected Federal Reserve interest rate hike later in the day.

Japan eSports players with disabilities shoot down stereotypes

Street Fighter player Shunya Hatakeyama has muscular dystrophy, so he uses his chin to launch devastating combos. He is not the only Japanese gamer proving that disability is no barrier in eSports.

Fed poised to attack inflation with another interest rate hike

The Federal Reserve is set to announce another big interest rate increase on Wednesday, the fourth this year, in its ongoing battle to tamp down price pressures that have been squeezing American families.

Tunisia approves new constitution in vote with low turnout

Tunisia has approved a new constitution granting unchecked powers to the office of President Kais Saied, the electoral board said, after a poorly attended referendum in which voters overwhelmingly backed the document.

Israel's Teva reaches potential $4.25 bn US opioid settlement

Israeli generic drug maker Teva has reached an agreement in principle to pay $4.25 billion over 13 years to settle a series of court cases over its role in the US opioid epidemic.

After the apology, the 'healing': Pope visits sacred lake in Canada

Pope Francis called for "healing" Tuesday as he joined a pilgrimage to a sacred lake in Canada, one day after making a landmark apology for the abuse of Indigenous children at Catholic-run schools.

Microsoft earnings fall short as computer sales sag

Microsoft on Tuesday said that its earnings in the recently ended quarter fell shy of expectations as personal computer sales suffered from production holdups in China and sagging demand.

New York asks WHO to re-name 'stigmatizing' monkeypox

New York City asked the World Health Organization (WHO) on Tuesday to rename the monkeypox virus to avoid stigmatizing patients who might then hold off on seeking care.

Saudi prince to sign deal for 'cheaper energy' in Greece

Saudi Crown Prince Mohammed bin Salman announced upcoming bilateral projects on a visit to Greece Tuesday, including for a power cable between both countries to provide Europe with "cheaper renewable energy".

Twitter shareholders to vote on Musk buy in September

Twitter on Tuesday urged shareholders to endorse the $44 billion deal Elon Musk made to buy the online podium, setting a vote on the merger for September 13.

Buzz Aldrin's Apollo 11 jacket sold for $2.7 mn

The jacket worn by US astronaut Buzz Aldrin during his 1969 flight to the Moon aboard Apollo 11 was sold at auction for $2.7 million in New York Tuesday, Sotheby's announced.

Biden hails $22 bln investment by S. Korea's SK Group

President Joe Biden on Tuesday hailed progress in the US bid to revamp its 21st century economy after huge South Korean group SK announced a $22 billion investment in US semiconductor and other cutting edge industries.

Google-parent Alphabet's profit slips as growth slows

Google-parent Alphabet on Tuesday reported its profit in the recently ended quarter slipped to $16 billion as its long sizzling ad revenue growth cooled.

Biden undecided on China tariffs ahead of Xi call: W.House

President Joe Biden has still not decided whether to end some trade tariffs on China ahead of a phone call expected this week with his Chinese counterpart Xi Jinping, a senior official said Tuesday.

Russia doing better than expected despite sanctions: IMF

Despite damaging Western sanctions imposed on Moscow in the wake of the invasion of Ukraine, Russia's economy appears to be weathering the storm better than expected as it benefits from high energy prices, the IMF said Tuesday.

Don't let inflation 'genie' out of the bottle: IMF economist

The global economy is facing a worrisome slowdown, but the critical priority for policymakers is to bring raging inflation under control, the IMF's chief economist said Tuesday.

France struggles with drought over punishing summer of heat

From farmers to fishermen, boat owners to ordinary households, communities across France are struggling with a severe drought that has seen an unprecedented number of regions affected by water restrictions this summer.

Stocks slide as gas prices and inflation erode confidence

Eurozone and US stocks sank on Tuesday on gas supply fears and renewed concerns about the impact of inflation.

Coca-Cola results boosted by comeback in 'away-from-home' spending

Higher prices and a comeback in away-from-home sales helped Coca-Cola score solid quarterly profits Tuesday in spite of increased operating costs and the drag of the strong US dollar in international markets.

France committed to Africa's security, says Macron

French President Emmanuel Macron on Tuesday declared his country would support Africa's need for security as he embarked on a three-nation tour aimed at renewing France's relations with the continent.

EU to cut Russian gas use as missiles strike Ukraine

The European Union agreed to reduce gas consumption to break its dependence on Russia on Tuesday, as missile strikes on Ukraine's Black Sea coast cast doubt on a grain export deal.

Amazon hikes Prime subscription in five European countries

Amazon Prime customers in five European countries learned Tuesday that they face double-digit price increases for the platform's expedited delivery service.

IMF cuts global growth outlook due to US, China slowdowns

Surging inflation and severe slowdowns in the United States and China prompted the IMF Tuesday to downgrade its outlook for the global economy this year and next, while giving an even starker assessment of what may lie ahead.

Sawt Falasteen - Economy (English)