Sawt Falasteen - Economy

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Pentagon inks Tomahawk deal amid reports of missile shortfall

The Pentagon announced a $22.9 billion contract with Raytheon on Monday for Tomahawk missiles amid reports of a shortfall due to the war with Iran.

Stocks lower as Hormuz concerns and high oil prices persist

Global stocks mostly slipped Monday as lack of progress on opening the Straits of Hormuz outweighed expectations that the Federal Reserve will not raise US interest rates anytime soon.

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Sri Lanka hikes interest rates, warns trouble ahead

Cash-strapped Sri Lanka raised interest rates one percentage point Friday, the second sharp hike in three months, as the central bank warned of 80 percent inflation and a painful recession.

Tunisian street vendor serves success despite bureaucracy

Tunisian street vendors often complain of official harassment, but one sandwich maker-turned-social-media-star hopes his struggles against bureaucracy will motivate young entrepreneurs.

'Scary to be queer': Lebanon cracks down on LGBTQ rights

Lebanon's LGBTQ community, long among the most vocal and visible in the Middle East, has been targeted by a crackdown that has seen queer activists harassed and Pride gatherings cancelled.

US women prepare for what comes after abortion ruling

The US Supreme Court ruling that overturned the nationwide right to abortion has spurred a rush to prepare for an America where the procedure is banned in many states.

Samsung Electronics forecasts 11.4% rise in 2Q profits

Samsung Electronics expects operating profits in the second quarter to rise 11.4 percent, the South Korean tech giant said in a statement Thursday, despite ongoing global supply chain woes.

Apple devices getting beefed-up defense against spyware

Apple on Wednesday unveiled a new way for activists, journalists and other targets of state-sponsored espionage to protect themselves from spyware.

In eastern Ukraine, frontline cobbler fixes soldier boots for free

Sitting at his old sewing machine, Ukrainian cobbler Sergiy Kurchigin waits for customers in one of just a few businesses still open this close to the frontline.

Fed flags risk US inflation could become entrenched: minutes

US central bankers last month flagged the concern that sky-high inflation could become persistent and reiterated their willingness to continue raising interest rates to tamp down price pressures, according to the minutes of the latest policy meeting released Wednesday.

Spain eyes vibrant summer after 'dazzling' visitor surge

Spain said Wednesday it was hoping to reach its record visitor numbers of 2019 after two years of pandemic restrictions, although soaring inflation figures suggest tough times will return after the season ends.

Indigenous Australian activists fight for ancient rock art

Two Indigenous Australian activists are fighting to save 40,000-year-old sacred rock art in Western Australia from pollution and plans for a major gas project.

Long winter: South Africans struggle with rolling blackouts

Unable to switch on lights or heaters, cook dinner or charge their phones, South Africans are spending their mid-winter evenings plunged in darkness and low-tech living.

OPEC head Barkindo dies at 63 in 'shock' to oil cartel

OPEC's secretary general, Nigeria's Mohammad Barkindo, has died at the age of 63, leaving the oil cartel in "shock" on Wednesday at a tumultuous time for the markets.

Amazon, Just Eat deal to offer free Grubhub delivery in US

Amazon Prime customers in the United States will be able to receive a year of free restaurant delivery through Grubhub+ under a deal announced Wednesday by Just Eat Takeaway.com.

Tunisia's 'Roger Federer': How Ons Jabeur became a tennis star

Fifteen years ago, Ons Jabeur's young tennis sparring partner could see the Tunisian was destined for glory -- even if he suffered a broken arm in the process.

Fuel prices soar in Ethiopia as subsidies cut

Fuel prices soared in Ethiopia on Wednesday after the government reduced subsidies, adding to economic hardship for people already struggling with high inflation.

European stocks rebound, euro extends dollar slump

European stock markets rebounded on Wednesday, recovering some ground following sharp losses the previous session on fears of a global recession.

OPEC secretary general Barkindo dies unexpectedly at 63

OPEC Secretary General, Nigeria's Mohammad Barkindo, has died unexpectedly at the age of 63, it was announced on Wednesday, leaving the oil cartel without a head at a tumultuous time for the markets.

Oil rises after sell-off but euro stuck at 20-year low, equities drop

Oil prices rose Wednesday after suffering a painful drop the previous day, though the euro remained wedged at a 20-year low and equities mostly fell in Asia as recession fears continue to flow through trading floors.

'Like a dream': Japanese grandpa draws in following as art YouTuber

Harumichi Shibasaki was nearly 70 when he began making YouTube art tutorials from his quiet home in the Japanese countryside. Five years on, he has 1.4 million subscribers.

Norway government intervenes, ending oil and gas strike

Norway's government said Tuesday it was referring a dispute between oil and gas workers and employers to an independent board, after an industry group warned strikes could cut Norway's gas exports by more than half.

Gorgosaurus tipped to fetch $8 mn at New York auction

A skeleton of a Gorgosaurus dinosaur is going up for auction for the first time and is expected to fetch between $5 million and $8 million, Sotheby's said Tuesday.

Fierce shelling in eastern Ukraine as NATO heralds its 'historic' expansion

Fighting raged on Tuesday in and around Ukraine's eastern Donbas region as Russian troops tried to maintain a series of battlefield gains, while NATO pressed ahead with Finland and Sweden's momentous membership bids.

US court rules distributors not responsible for opioid crisis

The three largest drug distributors in the United States have won a major court victory, with a judge ruling that they were not responsible for record opioid addiction in one part of West Virginia state.

Markets slump as recession fears grip investors

Stock markets sank and oil prices plummeted Tuesday as fears mounted that major economies will slide into recession as inflation soars, with the euro slumping towards parity with the dollar.

Ford's US car sales rise despite semiconductor crunch

Ford reported higher US auto sales Tuesday, bucking an industry-wide trend of declines in the latest quarter amid crimped supply of semiconductor and other key parts.

Fighting rages in eastern Ukraine as NATO pushes expansion

Fighting raged Tuesday in and around Ukraine's eastern Donbas region as Russian troops tried to build on recent battlefield gains, while NATO pressed ahead with Finland and Sweden's historic membership bids.

Euro slumps as recession risk stalks eurozone

The euro on Tuesday slumped to its lowest level since 2002 and European stock markets sank as growing recession risks sent shockwaves around the region.

Struggling SAS files for Chapter 11 bankruptcy proceedings in US

Faced with financial difficulties and a massive pilot strike, Scandinavian airline SAS said Tuesday it has filed for so-called Chapter 11 bankruptcy proceedings in the United States, as a part of restructuring plan.

Hacker claims major Chinese citizens' data theft

A hacker claiming to have stolen personal data from hundreds of millions of Chinese citizens is now selling the information online.

Israel PM visits France with Lebanon gas row topping agenda

Israeli Prime Minister Yair Lapid departed on his first foreign trip in office Tuesday to France, where he will ask for backing on a gas dispute with Lebanon that days ago saw Israel shoot down three Hezbollah drones.

Markets mostly up on talk Biden to roll back some China tariffs

Most markets rose Tuesday on growing speculation US President Joe Biden is about to roll back some of the Trump-era tariffs on Chinese goods as he looks for ways to rein in inflation, though sentiment remains at a premium owing to fears of a recession.

I.Coast eyes cassava for its bread as wheat prices surge

As wheat prices are driven upwards by the war in Ukraine, bakers in the West African state of Ivory Coast are starting to use locally produced cassava flour to bake bread.

Sawt Falasteen - Economy (English)