Sawt Falasteen - Economy

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Featured

South Korea's chip boom fuels forecast-beating third-quarter growth

South Korea's economy grew more than three times faster than expected in the third quarter, driven by booming semiconductor demand, central bank data showed Tuesday.

South Korea economy grows three times faster than expected in Q3

South Korea's economy grew more than three times faster than expected in the third quarter, driven by booming semiconductor demand, central bank data showed Tuesday.

Last news

Judge says Twitter-Musk trial still on track

The judge presiding over Twitter's legal battle to hold Elon Musk to his $44-billion buyout deal said Wednesday the case was still on course for trial -- despite the billionaire's apparent U-turn.

Spain lawmakers pass bill honouring Franco-era victims

Almost five decades after the death of Francisco Franco, Spanish lawmakers passed a flagship law Wednesday seeking to honour the victims of the 1936-1939 civil war and the ensuing dictatorship.

OPEC+ delivers Biden diplomatic slap with output cut

President Joe Biden got a diplomatic slap in the face Wednesday with the OPEC+ cartel's decision to ignore both his efforts at isolating Russia and desperate attempts to hold down fuel prices ahead of midterm elections.

Nord Stream leaked less methane than feared: atmospheric monitor

Leaks from the Nord Stream gas pipelines released some 70,000 tonnes of the powerful greenhouse gas methane, researchers said Wednesday, less than previously thought.

OPEC+ angers US with major oil output cut

Saudi Arabia, Russia and other top oil producers agreed on a major cut in production on Wednesday to boost crude prices -- a move denounced by the United States as a concession to Moscow that will further hurt the global economy.

Homemade 'DIY' weapons boost Ukraine war arsenal

In a metal workshop in the industrial city of Kryvyi Rih in southern Ukraine, a homemade anti-drone system waits to be mounted on a military pick-up truck.

OPEC+ agrees major oil output cut, Biden 'disappointed'

OPEC and its Russia-led allies agreed on a major cut in oil production to boost crude prices on Wednesday, irking the United States which warned that it would hurt countries struggling with soaring energy prices.

Amid Ukraine war, US flys Russian cosmonaut to ISS

A SpaceX spaceship blasted off from Florida Wednesday, headed for the International Space Station and carrying a Russian crewmate, in a voyage that carries symbolic significance amid the Ukraine war.

WHO probing Indian cough syrup after 66 children die in The Gambia

The World Health Organization (WHO) issued an alert Wednesday over four cough and cold syrups made by Maiden Pharmaceuticals in India, warning they could be linked to the deaths of 66 children in The Gambia.

OPEC+ agrees major oil output cut

OPEC and its Russia-led allies agreed on a major cut in oil production on Wednesday, a move to prop up prices that could bolster sanction-hit Moscow's coffers and irk Washington.

UK rail workers stage latest strike over pay

Train travel in Britain was disrupted on Wednesday by the latest in a string of strikes by railway workers over wages.

Moving on up... or out? UK's PM seeks to soothe Tory faithful

Britain's embattled Prime Minister Liz Truss marched to the lectern for the most important speech of her political career on Wednesday -- accompanied by a song about a bitter break-up.

WC host Qatar sees 'incredible progress' in labour rights: union head

The International Trade Union Confederation chief said Wednesday that Qatar has made a dramatic turnaround in its treatment of foreign workers to become a country fit to host World Cup 2022.

OPEC+ eyes major oil output cut

Ministers from oil exporting countries were expected Wednesday to agree on major production cuts to prop up prices, a move that could irk the United States as economies struggle with energy-fuelled inflation.

Canada trade surplus drops in August to lowest 2022 level

Canada's trade surplus fell in August to Can$1.5 billion (US$1.1 billion) -- its lowest level so far this year -- as both exports and imports slumped, the government statistical agency said Wednesday.

Oil prices rise awaiting OPEC output cut

Oil prices rose Wednesday as OPEC and Russia-led allies prepare to announce a big cut in output.

EU signals shifts towards gas price cap

The EU is "ready to discuss" a price cap on gas within the bloc to bring down soaring energy costs, European Commission chief Ursula von der Leyen said Wednesday.

Musk-Twitter deal: a roller-coaster saga

Elon Musk's pursuit of Twitter was a melodrama from the beginning -- a mercurial billionaire locked in a bitter fight with his favorite social media platform.

In Morocco hills, cannabis farmers bet on budding industry

In the hills of northern Morocco, vast cannabis fields are ready for harvest, but farmers complain that a government plan to market the crop legally is yet to deliver them any benefits.

Hong Kong 'Rick and Morty' fans spot protest codes in new episode

Eagle-eyed Hong Kong fans of the adult cartoon sitcom "Rick and Morty" have spotted oblique references to the city's democracy movement in the latest episode of the cult sci-fi show.

Beaten and robbed: Vietnamese fisherman recounts China attacks

Vietnamese fisherman Nguyen Van Loc has been attacked by Chinese coast guard vessels so many times, he has lost count.

OPEC+ expected to slash oil output

Major oil producers led by Saudi Arabia and Russia were set to meet Wednesday as reports said they were mulling an output cut of up to two million barrels per day in a bid to prop up slumping prices.

Energy crisis feared by Europe long a reality in Iraq

Europe may fear an energy crisis over the coming winter, but for Iraqis an unstable power supply and frequent blackouts have been a reality during decades of war and turmoil.

Equities extend rally on rate hopes, traders await OPEC decision

Asian investors joined their Wall Street and European counterparts in an equity buying spree Wednesday as more data pointing to weakness in the US economy further fanned hopes the Federal Reserve could temper its rate hike campaign.

UK's Truss rejects 'drift and delay' in defiant speech to Tories

Britain's Prime Minister Liz Truss is set Wednesday to close her party's tumultuous annual conference with an unabashed defence of "disruption" to counter economic "drift and delay".

Stocks surge on hopes interest rate hikes will slow

Global stocks gained on Tuesday and the dollar slid amid growing hopes the Federal Reserve could ease its interest-rate hiking plans.

EU pushes to impose Iran sanctions over Mahsa Amini 'killing'

The European Union said Tuesday it was weighing tough new sanctions on Iran over a lethal crackdown on protests sparked by the "killing" of Mahsa Amini, after a similar move by the United States.

US to require extra hour of rest for flight attendants

US authorities will require flight attendants be given an additional hour to rest between trips, according to new rule announced Tuesday.

Atalanta fined for 'racist' chants at Fiorentina owner

Atalanta have been fined 12,000 euros ($11,969) after their fans directed "territorially offensive" chants at Fiorentina owner Rocco Commisso.

Stocks surge on interest rate hopes

Global stocks rallied Tuesday and the dollar mostly slid as weak US data sparked hopes the Federal Reserve could ease its interest-rate hiking plans.

Power blackouts hit 130 million people in Bangladesh

At least 130 million people in Bangladesh were left without power on Tuesday after a grid failure caused widespread blackouts, the government's power utility company said.

Micron unveils new $100 bn New York semiconductor plant

Micron announced Tuesday it will invest up to $100 billion to build semiconductors in New York state, capitalizing on US policies to boost domestic manufacturing of key goods.

Sawt Falasteen - Economy (English)