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.

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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.

From bus routes to gutters, tech-savvy youth map Mali's capital

Under a blazing sun in Mali's capital, Amadou Menta leant over to measure a gutter then jotted down the results on a mapping app on his smartphone.

Diamond magnate's appeal of Swiss bribery verdict opens

French-Israeli diamond magnate Beny Steinmetz will be back in court in Switzerland on Monday to appeal against a corruption verdict linked to mining rights in Guinea.

IAEA chief leading team to Ukraine's Zaporizhzhia nuclear plant

International Atomic Energy Agency chief Rafael Grossi said Monday he was on his way to Ukraine's Zaporizhzhia nuclear plant, which has been the target of strikes in recent weeks.

Japanese bath houses find new ways to stay afloat

Just before it opens each afternoon, elderly residents gather outside one of Tokyo's last remaining old-style bath houses carrying flannels, soap and shampoo for their regular soak.

Asian markets tumble after Powell's rate hike warning

Asian markets sank Monday and the dollar rallied after Fed boss Jerome Powell warned of more interest rate hikes to fight inflation and poured cold water on the prospects of a cut in the new year.

Ancient Iranian rug tradition gets makeover as sales sink

Striking geometric shapes that recall 20th century abstract art are not what you would expect to see adorning a handmade Iranian rug.

Sony issues 'Invitation'; not many filmgoers RSVP

New Sony horror film "The Invitation" topped the North American box office this weekend despite extremely weak ticket sales of just $7 million, industry watcher Exhibitor Relations reported Sunday.

Japan vows to work for 'more resilient' African economies

Japan will cooperate closely with African countries to promote "more resilient" economies, Prime Minister Fumio Kishida told the final session of an investment conference in Tunisia on Sunday.

Ethereum crypto overhaul targets environmental impact

The world's second biggest cryptocurrency after bitcoin, ethereum, will soon overhaul its blockchain technology to curb the network's much-criticised environmental impact.

China's jobless youth left in the lurch

China's slowing economy has left millions of young people fiercely competing for an ever-slimming raft of jobs and facing an increasingly uncertain future.

'Sight to behold': tourists flock to Florida for Moon rocket launch

Seeing a rocket blast off to the Moon is "a once-in-a-lifetime thing to experience," says Joanne Bostandji.

Churchgoers, researchers celebrate Tunisia's Sicilian past

Worshippers crying "Hail Mary" walk alongside their Muslim neighbours in the Tunisian port district of La Goulette, harking back to a time when Sicilians were at the heart of neighbourhood life.

Chinese badminton star ordered to throw Olympic semi in Sydney 2000

Former Chinese badminton champion Ye Zhaoying claims she was forced to throw her semi-final at the Sydney Olympics in 2000 to increase the chances of a gold medal for one of her compatriots, in an interview broadcast on Saturday by Danish television TV2.

Fresh shelling at Ukraine power plant as operator warns of radiation risk

Ukraine and Russia traded fresh accusations of shelling at the Zaporizhzhia nuclear power plant on Saturday, as its operator warned of a radioactive leak risk at the atomic facility.

Tunis hosts Japan-Africa investment conference

Japan opens an African investment conference in Tunisia on Saturday, seeking to counter the influence of rival China which has steadily grown its economic imprint on the continent.

Energy crisis pushes nuclear comeback worldwide

As the costs of importing energy soars worldwide and climate crises wreak havoc, interest in nuclear power is on the rise with nations scrambling to find alternative sources.

Peak Tram back on track in tourist-devoid Hong Kong

The Peak Tram, Hong Kong's famed public transport and a popular tourist draw, reopened Saturday after a year-long $102 million facelift even as the city's coronavirus curbs continue to keep overseas visitors at bay.

Mexico lures visitors on new age tourism trail

With restorative rituals, yoga retreats and psychedelic experiences, Mexico has become a magnet for spiritually minded tourists seeking an alternative vacation far from the troubles of the modern world.

Cuba asks for US help to rebuild destroyed fuel depot

Cuba has asked the United States for help in restoring a major fuel storage plant devastated by a massive fire that left 16 people dead, the island nation's foreign ministry said on Friday.

Taming inflation will inflict 'pain' on Americans: Fed's Powell

Taming high US inflation will inflict "pain" on American families and businesses, but failure to wrestle prices down from their current 40-year high would be even more harmful, Federal Reserve Chair Jerome Powell said Friday in a hotly-anticipated speech to global policymakers.

Moderna sues Pfizer, BioNTech for Covid-19 vaccine patent infringement

Moderna said Friday it is suing rival vaccine makers Pfizer and BioNTech, alleging the partners infringed on its patents in developing their Covid-19 shot administered to hundreds of millions around the world.

Stocks wobble before Fed chair speech

Stock markets wobbled Friday ahead of a speech by Federal Reserve boss Jerome Powell that is expected to reiterate his plan to ramp up US interest rates to fight soaring inflation.

Europe stocks subdued before Fed chair speech

European stock markets wobbled Friday ahead of a speech by Federal Reserve boss Jerome Powell that is expected to reiterate his plan to ramp up US interest rates to fight soaring inflation.

Staff work to end outage at Ukraine nuclear plant as inspection prepared

Staff at Ukraine's Zaporizhzhia nuclear plant occupied by Russian soldiers were on Friday working to reconnect its reactors to the national power grid, the state energy operator said.

Young Poles abandoning 'frozen' Catholic Church

It is still one of Europe's most Catholic countries but Poland is seeing a rapid secularisation -- particularly among younger generations.

Long Covid costs Australia millions of working days

Long Covid has already cost the Australian economy three million working days this year, according to a government analysis seen by AFP Friday, significantly worsening the country's acute labour shortages.

Christie's to auction Microsoft co-founder Allen's $1bn-plus art collection

Christie's announced plans on Thursday to auction the art collection of late Microsoft co-founder Paul Allen, which it estimated to be worth more than $1 billion.

In risky recycling venture, Gazans burn plastic for fuel

Living in one of the poorest parts of the Middle East and facing some of the region's highest fuel costs, Palestinians in Gaza are burning plastic to make affordable diesel.

Asia stocks up before Powell speech, China tech adds support

Asian markets rose Friday after a Wall Street rally ahead of a speech by Federal Reserve boss Jerome Powell that is expected to reiterate his plan to ramp up interest rates to fight inflation.

Fed's Powell to hammer home inflation-fighting message

With US inflation at a 40-year high, economists say there is no doubt about the Federal Reserve's policy course: Interest rates will continue to rise.

Trump social media platform faces money woes, modest following

Signs are growing that Donald Trump's social media platform Truth Social is in financial trouble, with just a modest following six months after launching.

Sawt Falasteen - Economy (English)