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.

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Blooming shame: Pandemic, Ukraine war hurts Thai orchid industry

Thailand's orchid growers, already weary after two years of being battered by the pandemic, are bracing for fresh blows to their livelihood as the war in Ukraine and changing weather patterns further cloud their futures.

US companies break long silence on abortion rights

After carefully avoiding the taboo topic for decades, more and more US companies are taking a stand on the right to abortion, a sign of a new generation with growing influence and very different expectations than their predecessors.

Facing soaring rents, some US tenants are fighting back

Before the start of each month, Anh-Thu Nguyen and her two roommates send rental checks to their landlord. A few days later, the checks are mailed back.

Nigerian airlines suspend flights over soaring fuel prices

Nigerian airlines are to suspend all flights from Monday over rising jet fuel prices, an umbrella organisation of operators said on Saturday.

Pensioners swarm cash vans under fire at Ukraine front

Postwoman Iryna Fedyanina's laughter drowns out the mortar fire ringing out as she hands out pensions to the frightened masses near a river splitting Ukrainian and Russian forces.

Government pressure forces Venezuelan media to self-censor

Football fans have become familiar with final calls being made by "VAR" -- video assistant referees -- but at one of Venezuela's biggest radio groups, it also controls what news gets aired.

Indonesia seizes tanker over palm oil export ban violation

The Indonesian Navy has seized a tanker that was carrying palm oil out of the country in violation of an export ban, a spokesman said Saturday.

Soy boon for Argentina as Ukraine war boosts prices

Russia's war on Ukraine has sent grain prices skyrocketing -- a worry for consumers worldwide but potentially a boon for producers like Argentina, which hopes an influx of soybean "agridollars" will boost its faltering economy.

Warhol Monroe portrait set to smash records at New York sales

An Andy Warhol portrait of Marilyn Monroe worth an estimated $200 million headlines this month's spring sales in New York that collectors say are among the most anticipated ever.

Global stocks mostly fall despite solid US jobs data

Global stocks mostly tumbled Friday to conclude a volatile week as investors fretted over inflation and worries about slowing growth despite a solid US jobs report.

At least 75 killed in recent Haiti gang battles: UN

Clashes between two rival gangs in the outskirts of the Haitian capital Port-au-Prince have claimed the lives of at least 75 people, including women and children, in less than two weeks, the UN said Friday.

Yogurt maker Lactalis betting on US appetite

French dairy giant Lactalis is betting big on North America, adapting to local preferences to attract consumers while it manages country-specific issues, such as the extreme volatility of US milk prices.

Facebook accused of blocking Australian health sites

A whistleblower group is accusing Facebook of deliberately blocking websites for Australian hospitals and emergency services as part of a negotiating tactic last year.

Crisis-hit Sri Lanka declares emergency after crippling strike

Sri Lanka's president Friday declared a state of emergency for the second time in five weeks, giving security forces sweeping powers amid a nationwide strike by angry demonstrators who blame him for an unprecedented economic crisis.

India, Pakistan must brace for even worse heatwaves

The devastating heatwave that gripped India and Pakistan over the last two months is unprecedented, but worse -- perhaps far worse -- is on the horizon as climate change continues apace, top climate scientists told AFP.

Solid job growth continues in recovering US economy

From bars to factories to warehouses, American businesses hired staff with vigor in April as the US economy recovers from the damage done by Covid-19 while grappling with inflation that has hit the highest rate in decades.

Tech vs telecoms: EU ignites debate on 'net neutrality'

Tech and streaming giants suck up vast amounts of bandwidth, so the EU this week revived a long-standing idea to make them pay the telecom firms who maintain the infrastructure.

Stocks selloff deepens, pound takes fresh tumble

A global stocks selloff over fears about the impact of interest rate hikes that seek to tackle sky-high inflation deepened on Friday.

Ukraine wheat harvest set to drop by third: satellite imagery

Ukraine's wheat production is likely to be down by at least a third from last year due to the Russian invasion, a data analysis firm that uses satellite imagery said Friday.

China troubles mar Adidas's first-quarter result

German sportswear giant Adidas reported a drop in its profits in the first quarter on Friday, as widespread coronavirus lockdowns hurt business in key market China.

India to reopen abandoned coal mines as heatwave hits supply

India plans to lease abandoned coal pits to private mining companies, a government official said Friday, in an effort to ramp up production as power outages exacerbate a sweltering heatwave.

'King of streets': Last skateboarder on Ukraine front

The baby-faced teenager in baggy shorts races his skateboard past the bombed burger joint and hit Peace Square just as air raid sirens rolled over the Ukrainian front.

Police tear-gas students as strike hits Sri Lanka

Police again fired tear gas and water cannon at students trying to storm Sri Lanka's parliament Friday as the country was brought to a halt by a trade union strike demanding the government step down.

Biden heads to Ohio to tout industrial renewal plan

US President Joe Biden will travel to political battleground state Ohio on Friday to announce the launch of a new industrial renewal plan that his administration hopes will revive the country's manufacturing sector.

National strike in Sri Lanka to demand govt step down

Sri Lanka's bus and train networks ground to a halt while offices and factories were empty Friday in a nationwide strike demanding the government's resignation over the island's worsening economic crisis.

US Women's Basketball season kicks off with key star held in Russia

Women's Basketball season kicks off in the United States on Friday without one of its brightest stars: Brittney Griner, who was arrested in Russia just before Moscow launched its war in Ukraine.

Police violence remains chronic struggle in Dominican Republic

An argument between a shopper and a store clerk at a mall in the Dominican Republic capital of Santo Domingo ended last month with police arresting customer David de los Santos.

China building collapse death toll rises to 53

Fifty-three people died in a building collapse in central China, authorities said Friday, announcing the end of the rescue mission in a disaster which has been blamed on illegal construction.

Will Hong Kong reopen for business under new leader Lee?

Hong Kong's next leader John Lee is inheriting a once vibrant Asian business hub mired in its third year of pandemic isolation but he may prioritise security over an economic reboot, business leaders and observers say.

Wall Street tumbles on Fed worries, pound slumps

After breathing a sigh of relief when the Federal Reserve held off on signaling more aggressive measures ahead to fight inflation, Wall Street tumbled on Thursday amid renewed anxiety over rising interest rates, while the pound slumped on fears of a UK recession.

Karine Jean-Pierre named as first Black W.House press secretary

US President Joe Biden on Thursday named Karine Jean-Pierre as the next White House press secretary, the first Black person to hold the high-profile post.

UN convoy en route for rescue from Mariupol 'hell'

The United Nations on Thursday said a new convoy was heading to evacuate civilians from the "hell" of a besieged steel plant in Mariupol, even as Ukraine accused Russia of breaking its promise to pause fire at the site.

Sawt Falasteen - Economy (English)