Sawt Falasteen - Economy

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Featured

Two hundred 'Cruise for life' passengers stranded in Cambodia

Around 200 passengers who paid to live on a cruise ship while travelling the world were abruptly left in a Cambodian port after the company ran out of money, an official said on Wednesday.

S.African activists push back on data centre rush

A little boy balanced a large bottle of water on his shoulder as he returned from a communal tap near land acquired by a major data centre developer in South Africa's water-scarce city of Cape Town.

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Russia and China eye NATO's 'Arctic Achilles heel'

Russian flags flap in the stiff polar breeze, a bust of Lenin looms out of the snow and a vast slogan declares, "Communism is our goal!"

Monkeypox vaccine maker Bavarian Nordic ready to meet demand

As the lone laboratory manufacturing a licensed vaccine against monkeypox, Danish company Bavarian Nordic has seen its order book fill up as the usually rare disease spreads around the world.

China's Xi calls for stronger fintech oversight, security

A high-level Chinese government meeting led by President Xi Jinping has called for stronger oversight and better security in financial tech, state media reported, with the sector hit hard by a regulatory crackdown.

Markets fluctuate, oil falls again as recession warnings build

Asian markets struggled Thursday to recover from the previous day's battering, while oil extended losses, after Federal Reserve boss Jerome Powell admitted the economy could tip into recession as the bank hikes interest rates to fight runaway inflation.

Workers in Chile strike at world's largest copper producer

Workers at Chile's state mining company Codelco, the largest producer of copper in the world, launched an open- ended strike Wednesday to protest the closure of a foundry in one of the country's most polluted regions.

Vienna returns as world's 'most liveable city'

The Austrian capital Vienna has made a comeback as the world's most liveable city, according to an annual report from the Economist published Thursday.

Beachgoers brave rockets in East Ukraine

With its white sand, changing cubicles and clear water, the beach at Sloviansk in eastern Ukraine looks tempting. There's just one problem: the nearby bangs of rockets and missiles.

New antibody therapies fight cancer, drum up investment

Antibody therapies are offering promising treatment breakthroughs for cancer and other illnesses, generating greater investor interest more than 20 years after they were first commercialised.

Troubled Canada pipeline no longer profitable: budget watchdog

The controversial Trans Mountain pipeline expansion project, now under construction in western Canada after being nationalized, is no longer profitable as costs have spiralled, Parliament's budget watchdog said Wednesday.

UK inflation hits fresh 40-year high in cost-of-living crisis

British annual inflation has hit a fresh 40-year high, official data showed Wednesday, further eroding workers' wages in a cost-of-living crisis, and heaping more pressuring the Bank of England to keep raising interest rates.

US Fed chair admits recession a 'possibility' after rate hikes

The US economy remains strong but a series of aggressive rate hikes meant to cool soaring inflation could eventually trigger a recession, Federal Reserve Chair Jerome Powell cautioned Wednesday.

US wants to ban Juul vaping products: report

US health authorities are expected to order Juul Labs to stop selling e-cigarettes in the world's biggest economy, the Wall Street Journal reported Wednesday.

Saudi prince arrives in Turkey for talks clouded by Khashoggi murder

Saudi Arabia's de facto ruler on Wednesday took another step out of his international isolation by paying his first visit to Turkey since the 2018 murder of journalist Jamal Khashoggi in the kingdom's Istanbul consulate.

Recession fears send stocks, oil prices plunging

Equities and oil prices tumbled Wednesday after a brief respite from last week's painful rout across world markets, with recession fears building as central banks hike interest rates to combat decades-high inflation.

US could face more inflation 'surprises': Fed's Powell

The US economy is strong but faces an "uncertain" global environment and could see further inflation "surprises," Federal Reserve Chair Jerome Powell said Wednesday.

Google agrees to pay for Wikipedia content

Google has agreed to pay Wikipedia for content displayed by its search engine, mirroring deals the US tech giant has struck with news outlets in Europe.

New UK statue unveiled to post-war Caribbean migrants

Prince William on Wednesday unveiled a new national monument to the "Windrush" generation of Caribbean migrants who moved to Britain following World War II, praising their "immense contribution" to national life.

Cleaner, piano tuner: French parliament's fresh faces

A wave of new French MPs with more diverse profiles, including a cleaner and a blind piano tuner, are heading to parliament after legislative elections that saw President Emmanuel Macron lose his majority.

Stocks, oil prices plunge on recession fears

'We must defend our families': In Zaporizhzhia, women learn urban combat

Down at a shooting range in Zaporizhzhia in south-eastern Ukraine, six women are learning how to use Kalashnikov assault rifles as part of an urban combat training programme.

'We are human beings': Transgender rugby player says ban is punishment

Transgender former rugby player Caroline Layt said she was assaulted by her teammates nearly two decades ago, and now she fears a new generation of players is being punished for being themselves.

UK inflation hits fresh 40-year high

British annual inflation has hit a fresh 40-year high, official data showed Wednesday, further eroding workers' wages and pressuring the Bank of England to keep on raising interest rates.

Sri Lanka bets on casino magnate to revive wrecked economy

Sri Lankan casino magnate Dhammika Perera entered parliament on Wednesday with a mandate to revive the bankrupt island nation's wrecked economy -- working alongside a premier who once accused him of corruption.

Egypt calls for 'reality check' in UN climate talks

Egypt hopes to jump-start the action needed to face a warming world when it takes the presidency of major UN climate talks in November, but warns that countries need a "reality check" as progress stalls.

Iran's oldest pistachio trader readies daughter to one day take over

Tucked away in Tehran's famed Grand Bazaar, Iran's oldest pistachio wholesaler quietly prepares a small revolution -- he will hand his business to his youngest daughter, in a trade dominated by men.

Fish trade's murky waters cloud double murder in Amazon

The pirarucu is one impressive fish: a huge, thrashing Amazonian monster with red-and-black scales the size of serving spoons.

Facebook agrees to safeguards in ad discrimination case

Facebook owner Meta has agreed to change its ad targeting technology and pay $115,000 to settle US government allegations the social media giant allowed discrimination in who saw housing advertisements, authorities said Tuesday.

White House says concerned about recession but US economy strong

The American economy remains strong, a White House economist asserted Tuesday, while acknowledging President Joe Biden's team is concerned about a possible recession.

Elon Musk's child seeks name change in break from dad

A transgender child of Elon Musk has asked a California court to recognize her as female and change her name as part of a new gender identity and to sever ties with the billionaire, records show.

US high court denies Bayer bid to block Roundup weedkiller lawsuits

The US Supreme Court on Tuesday declined to hear a bid from Bayer-owned Monsanto that aimed to challenge thousands of lawsuits claiming its weedkiller Roundup causes cancer -- a potentially costly ruling.

US home prices top $400,000 for first time, crimping May sales

The median US home price broke above $400,000 for the first time, sending existing home sales in May falling for the fourth straight month, according to industry data released Tuesday.

Kellogg pops as it plans spin-off of legacy cereal business

Iconic breakfast food brand Kellogg became the latest US corporate giant to announce a breakup, unveiling plans Tuesday to split into three companies in a move that lifted its share price.

Sawt Falasteen - Economy (English)