Sawt Falasteen - Economy

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Featured

US Fed holds interest rates steady despite 'too high' inflation

The US Federal Reserve on Wednesday held interest rates steady, even as its Chairman Kevin Warsh said inflation remained "too high" but insisted that politics played no part in the central bank's decision not to continue raising rates days before crucial midterm elections.

Pioneering US labor leader Dolores Huerta dies at 96

Dolores Huerta, the US labor leader and civil rights icon whose union work changed the lives of migrant workers, has died, her family said Wednesday. She was 96.

Last news

Final touches for 75th Cannes film fest

The last touches were being laid in Cannes on Monday for the 75th anniversary edition of the world's leading film festival, promising a return to its full glitz.

Ukrainian women ask West to save trapped Mariupol defenders

Their menfolk are the last pocket of resistance in the Ukrainian city of Mariupol, holed up in a warren of underground tunnels and bunkers at the vast Azovstal steelworks under heavy Russian bombardment.

Afghan money exchangers reopen after strike: brokers

Thousands of money exchangers in Afghanistan ended their strike on Monday, the brokers commission said, a day after they shut their shops to protest a steep hike in licence fees imposed by Taliban authorities.

Asian stocks retreat on fears of recession from Covid damage

Asian equities retreated Monday following last week's temporary rally on Wall Street due to fears of surging inflation and supply chain woes inflicted by Beijing's punishing zero-Covid policy.

Adani in $10.5bn deal for Holcim India cement business

Indian billionaire Gautam Adani struck a $10.5 billion deal to buy Swiss cement giant Holcim's local business, the companies said, betting on a construction boom predicted in coming decades.

Renault hands Russian assets to Moscow

French automaker Renault has handed over its Russian assets to the Russian government, both parties announced Monday, marking the first major nationalisation since the onset of sanctions over Moscow's military campaign in Ukraine.

Ryanair slashes annual loss as lockdowns lifted

Irish no-frills carrier Ryanair on Monday announced a large reduction in annual net losses as the aviation sector recovered from pandemic lockdowns.

China's retail sales slump as lockdowns cause chaos

China's retail sales and factory output slumped to their lowest levels in around two years, official data showed Monday, capturing the dismal economic fallout from Beijing's zero-Covid policy.

China's retail sales lowest in two years from Covid damage

China's retail sales slumped to its lowest in two years while factory output plunged, official data showed Monday, capturing the dismal economic fallout from Beijing's zero-Covid policy.

Dutch doctor says group will keep sending abortion pills to US women

Rebecca Gomperts, a 55-year-old Dutch physician, has spent years fighting for women's access to abortion around the world.

Facebook: from Harvard dorm to global phenomenon

Key chapters in the history of Facebook, the world's biggest social media application, which marks the tenth anniversary Wednesday of its stock market debut.

Brentford duo report racist abuse of family at Everton

Everton are helping police identify suspects after Brentford's Rico Henry and Ivan Toney reported members of their family were racially abused during the Bees' 3-2 win at Goodison Park on Sunday.

US in mourning, outrage after 'racist' mass shooting

Grieving residents from the US city of Buffalo held vigils Sunday after a white gunman who officials have deemed "pure evil" shot dead 10 people at a grocery store in a racially-motivated rampage.

Crisis-hit Lebanon votes but few expect major change

Lebanon held its first election Sunday since a painful economic crisis dragged it to the brink of becoming a failed state, a major test for new opposition groups bent on ousting the ruling elite.

Afghan money exchangers on strike after licence fee hike

Thousands of money exchangers shut shop across Afghanistan on Sunday after Taliban authorities imposed a steep hike in licence fees, the brokers' commission said, in a bid to slow down money laundering and terrorism financing according to financial analysts.

Saudi Aramco says Q1 profits jump 82% as oil prices surge

Saudi Aramco on Sunday posted an 82-percent jump in first quarter profits, buoyed by a global surge in oil prices that has made it the world's most valuable company.

Crisis-hit Sri Lanka lifts curfew for Buddhist festival

Sri Lankan authorities lifted a nationwide curfew Sunday for an important Buddhist festival, with celebrations muted as the island weathers a worsening economic crisis.

Swiss vote on 'Netflix' law, organ donations and Frontex

Switzerland votes on Sunday on whether streaming services should cough up money to boost Swiss film-making -- and whether everyone should automatically become an organ donor unless they say otherwise.

Tech titans curb hiring in a 'challenging macro environment'

From e-commerce colossus Amazon to social networking star Facebook, US tech firms that once grew with abandon have reined in hiring to endure tumultuous times.

US rate hikes strain Hong Kong's virus-weakened economy

Recent rate hikes from the Federal Reserve have come at a bad time for Hong Kong which, thanks to its US dollar peg, must follow suit despite its own flagging economy.

'My body my choice': Thousands rally across US for abortion rights

Thousands of activists, many in pink, took to the streets across the United States on Saturday in a national day of action calling for safe and legal access to abortion.

Debate in Spain over 'menstrual leave' plan

Spain's plan to become the first European nation to allow women to take "menstrual leave" from work has sparked a debate that has split the country's leftist coalition government and unions.

'Jane Roe': Tumultuous journey of woman behind America's abortion law

Her real name is little known but her pseudonym, Jane Roe, is synonymous with abortion access in the United States, a topic once again in the spotlight with the Supreme Court seemingly poised to overturn the nationwide right after 50 years.

Lack of competition fueled US baby formula shortage

There's no end in sight to America's shortage of baby formula -- and the crisis has highlighted the lack of competition that has spread to all parts of the US economy, even essential ones such as food for infants.

US stocks finish bruising week on positive note

Wall Street stocks rebounded Friday after a bruising week beset with worries over inflation, the Ukraine war and the economic outlook.

Stocks bounce after Fed boss calms nerves over rates

The rebound on global stock markets extended further Friday on easing fears about the pace of interest rate rises in the United States that are aimed at bringing down the country's highest inflation in decades.

Frontline milkmaids tell tale of Ukraine's trust in outgunned army

The 26 cows feeding Oksana But and her sister in the east Ukrainian war zone are both a blessing and a curse.

UAE's ailing President Sheikh Khalifa dies aged 73

The United Arab Emirates' President Sheikh Khalifa bin Zayed Al-Nahyan died aged 73 on Friday, state media said, after battling illness for several years.

Musk says deal to buy Twitter 'temporarily on hold'

Elon Musk said on Friday he was putting a temporary halt on his much-anticipated deal to buy Twitter, sending shares in the social media giant plunging.

Markets rebound after Fed boss calms nerves over rates

Global stock markets rebounded Friday on easing fears about the pace of interest rate rises in the United States that are aimed at bringing down the country's highest inflation in decades.

UAE President Sheikh Khalifa has died: official media