Sawt Falasteen - Economy

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Featured

HSBC profit jumps on higher rates, lower costs

HSBC profits jumped in the third quarter thanks to higher interest rates and lower costs, the bank giant said Tuesday, but its share price slid as the results undershot investor expectations.

Mercedes-Benz cuts 2026 profit outlook on tough China market

Mercedes-Benz on Tuesday became the third big German carmaker to cut its outlook for the year on tough conditions in China, underlining the scale of the crisis facing the industry.

Last news

China export growth slows sharply in August: official data

China's export growth slowed significantly in August, customs authorities said Wednesday, as economic uncertainty is exacerbated by strict Covid-19 lockdowns across the country.

Real life, right now -- photo app claims to capture authenticity

It's not all sunsets and selfie smiles -- people are flocking to a new social network app that calls on users to share true glimpses of their lives rather than cherry-picked moments.

Search on for people missing from Venezuelan religious retreat

Family members have joined the search for nearly two dozen people reported missing after going on a religious retreat in Venezuela two weeks ago, civil protection authorities said Tuesday.

Brazil fines Apple $2.4 mn, prohibits sale of iPhone without charger

Apple has been barred from selling iPhones without a charger in Brazil and fined more than $2 million over the issue, the government said Tuesday, after accusing the US tech giant of "discriminatory practices."

Juul agrees to pay $438 mn in US over marketing vapes to youth

Juul Labs will pay $438.5 million to settle a probe by 34 US states that found the vaping company marketed to underage smokers, state officials announced Tuesday.

Kwasi Kwarteng: ultraliberal heading UK Treasury

Britain's new finance minister Kwasi Kwarteng takes on the heavy task of trying to steer the country through a cost-of-living crisis and probable recession.

Dollar weighs on yen and euro

The euro and yen sunk new multi-year lows against the dollar on Tuesday as investors focused on central bank efforts to contain surging inflation and fears of an economic slowdown.

100% compostable coffee balls bid to take on Nespresso

Switzerland's biggest retailer launched a new coffee machine invention on Tuesday -- fully compostable coffee balls which it hopes will shake up the global market and take on Nespresso's global dominance.

Uganda bans 'immoral' festival linked to sex, drugs, LGBTQ

Uganda's parliament on Tuesday slapped a ban on a popular music festival, the second time that authorities have taken steps against the annual event over accusations that it promotes sex, drugs and homosexuality.

US services sector expands in August as prices ease: survey

The American services sector expanded at a slightly faster pace in August amid signs of easing supply issues and slowing price gains, according to an industry survey released Tuesday.

South African GDP shrinks, hit by floods, energy crisis

South Africa's economy shrank in the second quarter, as floods and an energy crisis put a halt to months of growth, official data showed Tuesday.

More European energy firms get state aid as prices soar

Finland and Switzerland offered financial backing to utility companies on Tuesday, the latest energy firms in Europe to receive state support as gas prices have spiked since Russia invaded Ukraine.

Sour grapes: Rankings divide a French wine wonderland

When the new rankings of Saint-Emilion wines drop on Thursday, Jean-Luc Thunevin could see the value of his vineyard double overnight, the payoff for years of efforts to meet France's most exacting -- and mystifying -- taste test.

Asian markets mostly rise as bargain-buying offsets fears over outlook

Asian investors squeezed out gains Tuesday as they tried to recover from the previous day's losses, but they remain gripped by fears over Europe's worsening energy crisis, China's economic slowdown and central bank efforts to contain surging inflation.

Belarus exiles find home from home in 'travelling' bar

Tucked under a bridge in downtown Warsaw is a bar like no other. Over the years, Karma has relocated from Belarus to Ukraine and Poland, in the face of repression and war.

Shelling forces Ukraine nuclear plant off grid as Zelensky warns of 'disaster'

The last working reactor at Ukraine's Zaporizhzhia nuclear plant was disconnected from the grid after shelling caused a fire, with the UN's atomic watchdog due to brief the Security Council about the crisis on Tuesday.

Germany puts two nuclear plants on standby in energy U-turn

Germany said Monday it would keep two nuclear plants on standby beyond the end of the year in a policy U-turn, as the shut-off of Russian gas supplies sends Europe scrambling for energy sources.

French rugby boss Laporte's graft trial opens

Bernard Laporte, a towering figure in French rugby, goes on trial on Wednesday on charges of corruption and influence-peddling in a high-profile case making big waves only a year before France hosts the World Cup.

Incoming UK prime minister Truss faces a country in crisis

The UK's new prime minister, Liz Truss, takes power following a "summer of discontent" and as Britons tighten their belts in response to double-digit inflation and soaring energy costs.

New UK PM Truss inherits economy headed for recession

New UK Prime Minister Liz Truss inherits an economy set to enter recession before the end of the year, with double-digit inflation forecast to soar further.

Take the train! French rail boss slams PSG after short-haul hop

French football giants Paris Saint-Germain made light work of their opponents Nantes in an away league game this weekend but then received a volley of criticism for making the relatively short journey to western France by plane.

European stocks, euro tumble as Russia fuels energy crisis

European stocks tumbled Monday and the euro hit a new 20-year dollar low on energy crisis fears, after Russia said it would not restart gas flows to Germany and effectively most of the continent.

Ukraine's winegrower 'closest to the frontline'

Pavlo Magalias has made two equal piles. On the left are remnants of ancient storage jars unearthed in recent years at his vineyard in southern Ukraine, to the right, cluster bombs, dropped since the war broke out.

A ruff deal: Hong Kong exodus sparks surge in abandoned pets

Cassius and Roxie have spent three months at a Hong Kong dog shelter waiting for new owners.

ECB poised for big rate hike in face of record inflation

After raising interest rates for the first time in over a decade at their last meeting, European Central Bank policymakers are poised to deliver another bumper hike on Thursday in a show of determination to tame soaring inflation.

Scandals, Covid, deforestation: Brazil under Bolsonaro

Brazil's first elected far-right president Jair Bolsonaro, dubbed the "Trump of the Tropics," has been accused of letting Covid-19 rage out of control and allowing the Amazon to burn during his controversial first four years at the helm.

'Social' investment strategies under fire in Republican-led US states

Republican-led US states such as Texas and West Virginia are piling pressure on firms including giant asset manager BlackRock for supposedly boycotting oil and gas companies as part of "responsible" investment strategies.

OPEC+ to meet amid economic downturn fears

Faced with recession fears, the OPEC+ countries are expected to agree a modest increase in oil production at a meeting on Monday, with some experts even forecasting a cut to support prices.

War crimes trial in post-WWII Ukraine unveiled at Venice festival

Watching the powerful historical testament to the horrors of war and the depths of human cruelty in "The Kiev Trial" at the Venice Film Festival, it can seem that little has changed.

Norway's future CO2 cemetery takes shape

On the shores of an island off Norway's North Sea coast, engineers are building a burial ground for unwanted greenhouse gas.

Money transfer firms replace banks in crisis-hit Lebanon

Like many people in crisis-hit Lebanon, Elias Skaff used to wait for hours to withdraw cash at the bank but now prefers money transfer companies as trust in lenders has evaporated.

K-pop, K-drama... K-art. Frieze fair lands in Seoul

The art world landed in Seoul this week for the inaugural edition of Frieze in Asia, as the vibrant South Korean capital looks to position itself as the region's next art hub.

Sawt Falasteen - Economy (English)