Sawt Falasteen - Economy

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Featured

Dangote, Nigeria's oil tycoon rewriting Africa's story

After going from hawking sweets to his primary schoolmates to becoming Africa's richest man, Nigerian billionaire Aliko Dangote now stands on the cusp of what could be the continent's biggest-ever IPO.

Mbappe apologises for Mao Zedong comment after Chinese sponsors drop him

Kylian Mbappe apologised on Tuesday after the Real Madrid star was dropped by major Chinese brands for apparently joking about Mao Zedong in a video that has gone viral.

Last news

China's factory activity contracts for second straight month in August

China's factory activity shrank in August for the second month in a row, official data showed Wednesday, as the sector was hit by strict zero-Covid restrictions and extreme heat.

Asian markets down again as traders eye more monetary tightening

Stock markets resumed their downward trend Wednesday, with traders fearing the Federal Reserve's determination to beat inflation with higher interest rates will tip the world's top economy into recession.

China's August factory activity weakens for second straight month

China's manufacturing activity dropped in August for the second month in a row, official data showed Wednesday, as strict zero-Covid restrictions and extreme heat hit growth.

London mayor warns of possible 'Tube' fare hikes

London's mayor warned Tuesday of possible fare rises and service cuts after the capital's transport operator struck a 20-month funding deal with the UK government that still leaves a budget "gap".

Will take 'a few years' to get US inflation back to 2%: Fed official

The Federal Reserve is committed to bringing soaring US inflation back down to two percent, but that will take "a few years," a top central banker said Tuesday.

Baltic nations to boost offshore wind energy seven-fold by 2030

Nations bordering the Baltic Sea agreed Tuesday to increase offshore wind energy to 20 gigawatts by 2030, as Europe seeks to wean itself off Russian gas following Moscow's invasion of Ukraine.

Stocks extend Fed-induced sell-off

Stock markets mostly tumbled again on Tuesday, extending losses that were sparked by last week's Federal Reserve warning that more monetary tightening was on the way.

Barbecue-bashing French green MP stirs up carnivores

Are barbecues "a symbol of virility"? A prominent French green MP has sparked a national debate by suggesting that red meat is macho and grilled ribs are a gender issue.

Eurozone equities bounce from Fed-induced sell-off

Eurozone stocks rebounded Tuesday from recent losses, but London gains were capped as investors played catch-up after a long weekend.

Baidu reports 5% year-on-year decrease in Q2 revenue

Chinese internet giant Baidu Inc. on Tuesday announced second-quarter revenues of 29.6 billion yuan ($4.3 billion), down five percent from last year after the company faced a challenging economic climate and tight controls on China's once-thriving tech sector.

China state support for economy this year exceeds 2020, premier says

State support for China's economy this year is now greater than it was in 2020, Beijing's premier has said, surpassing help given at the height of the coronavirus pandemic as the country grapples with the impacts of its zero-Covid policy and a property sector crisis.

We're hiring: babies wanted for Japan nursing home

A nursing home in southern Japan is "hiring" babies for a very important job -- to keep its elderly residents company and make them smile. The salary? Nappies and milk formula.

French-Indian textile designer brings back Mughal patterns

Textiles designer Brigitte Singh lovingly lays out a piece of cloth embossed with a red poppy plant she says was probably designed for emperor Shah Jahan, builder of the Taj Mahal, four centuries ago.

China arrests hundreds over banking scandal that sparked rare protests

Chinese police have arrested more than 200 suspects linked to one of the country's biggest-ever banking scandals, which triggered rare mass protests.

Energy price hikes could force UK pubs to shut

British pubs could be forced to close because of massive increases in energy prices, leading industry figures said on Tuesday, urging the government to step in.

Last member of Brazilian indigenous community found dead

The last of his people, a Brazilian indigenous man known only as "the man of the hole" has been found dead, decades after the rest of his uncontacted tribe were killed off by ranchers and illegal miners, officials said.

Stocks extend losses after Fed chief's warning

Stocks slid further Monday and the dollar rallied as traders continued to digest US Federal Reserve chief Jerome Powell's warning of more interest rate hikes to fight inflation.

Lithuania completes Belarus border fence

Lithuania on Monday said it had finished building a fence along its border with Belarus to fight illegal immigration which the West accuses Minsk of orchestrating.

IMF approves revival of massive Pakistan loan program

The IMF board on Monday approved an agreement to revive a massive loan program for Pakistan, as the country grapples with devastating monsoon flooding that has worsened an economic crisis.

NASA scrubs launch of giant Moon rocket, may try again Friday

NASA has scrubbed a test flight of its powerful new rocket, in a setback to its plan to send humans back to the Moon and eventually to Mars, but may shoot for another launch attempt on Friday.

IMF approves revival of massive Pakistan loan programme

The IMF has approved an agreement to revive a massive loan programme for Pakistan, the finance minister said Monday, as the country grapples with devastating monsoon flooding that has worsened an economic crisis.

IAEA team heads to Ukraine nuclear plant, as offensive launched in south

International Atomic Energy Agency chief Rafael Grossi said on Monday he was en route to inspect Ukraine's Zaporizhzhia nuclear plant, as Kyiv's forces launched a counteroffensive to retake the occupied southern region of Kherson.

EU plans emergency action to halt energy price rise

The European Union is preparing to take emergency action to reform the electricity market and get a grip on energy prices that have soared since Russia invaded Ukraine, senior officials said Monday.

Engine issue forces NASA to scrub launch of giant Moon rocket

NASA called off a test flight on Monday of its largest-ever rocket in a setback to the ambitious program to send humans back to the Moon and eventually to Mars.

Stocks extend losses after Fed chief's rates warning

Stocks slid further Monday and the dollar rallied as traders continued to digest Federal Reserve chief Jerome Powell's warning of more interest rate hikes to fight inflation.

France taxman deploys AI spy to spot hidden swimming pools

France's tax authority said Monday that a new artificial intelligence system had found thousands of undeclared swimming pools, allowing it to collect millions of euros from homeowners who failed to report the facilities.

NASA calls off Monday launch of Moon rocket

NASA called off the test flight on Monday of its largest-ever Moon rocket because of a temperature issue with one of the four giant engines.

Engine issue threatens delay of NASA Moon rocket

An engine problem threatened to delay the launch on Monday of NASA's most powerful rocket yet on an uncrewed test flight to take humans back to the Moon and eventually to Mars.

Ambani commits $25 bn to launch 5G in India

Indian billionaire Mukesh Ambani on Monday announced an investment of $25 billion to launch 5G networks in India, aiming to strengthen his grip on one of the world's fastest-growing smartphone markets.

Elon Musk says the planet needs more oil ... and babies

Billionaire tech entrepreneur Elon Musk, who has fathered 10 children, said on Monday the world needs to "make more babies" -- and keep digging for oil.

Diamond magnate appeals Swiss bribery verdict

French-Israeli diamond magnate Beny Steinmetz was back in court in Switzerland on Monday to appeal his conviction in what has been described as the mining sector's biggest-ever corruption case.

Honda, LG to invest $4.4 bn in US battery plant

Japanese auto giant Honda and South Korean battery maker LG Energy Solution announced a joint venture Monday to invest $4.4 billion in a new US electric car battery plant.

Sawt Falasteen - Economy (English)