Business and Tech

Sri Lankans return to cooking with firewood as economy burns

AFP - 1h ago

As once relatively wealthy Sri Lanka suffers a dire economic crisis with shortages of everything from medicines to gas, …

Jordan chalks up business success from limestone riches

AFP - 1h ago

Long before whiteboards, beamers and laptops entered modern school classrooms, teachers relied on the humble, dusty, …

Oil rises after sell-off but euro stuck at 20-year low, equities drop

AFP - 2h ago

Oil prices rose Wednesday after suffering a painful drop the previous day, though the euro remained wedged at a 20-year …

US senators call for close look at TikTok

AFP - 3h ago

Leaders of the US Senate Intelligence Committee on Tuesday called for an investigation into whether Chinese officials …

Ben & Jerry's sues Unilever to block distribution in Israeli settlements

AFP - 4h ago

American ice cream brand Ben & Jerry's said Tuesday it is suing its parent company Unilever to block a move that would …

UK overselling Australia trade deal, British MPs warn

Jul 05 2022

The UK is overselling its free trade deal struck with Australia in the wake of Brexit, British MPs have concluded in a …

Euro tumbles to 20-year low against dollar amid recession fears

Jul 05 2022

European stocks sank Tuesday along with oil prices, while the euro slumped towards parity with the dollar on deepening …

Norway government intervenes, ending oil and gas strike

Jul 05 2022

Norway's government said Tuesday it was referring a dispute between oil and gas workers and employers to an independent …

Disputed Russian cargo ship still stranded off Turkish coast

Jul 05 2022

A Russian-flagged cargo ship at the centre of a fight over grain between Kyiv and Moscow remained anchored Tuesday off …

US court rules distributors not responsible for opioid crisis

Jul 05 2022

The three largest drug distributors in the United States have won a major court victory, with a judge ruling that they …

Markets slump as recession fears grip investors

Jul 05 2022

Stock markets sank and oil prices plummeted Tuesday as fears mounted that major economies will slide into recession as …

Ford's US car sales rise despite semiconductor crunch

Jul 05 2022

Ford reported higher US auto sales Tuesday, bucking an industry-wide trend of declines in the latest quarter amid …

Euro slumps as recession risk stalks eurozone

Jul 05 2022

The euro on Tuesday slumped to its lowest level since 2002 and European stock markets sank as growing recession risks …

Ukraine, allies map out road to reconstruction

Jul 05 2022

Ukraine and its allies agreed Tuesday to a set of principles for rebuilding the war-torn country, including the need for …

French music streamer Deezer flops at stock market debut

Jul 05 2022

French music streaming service Deezer's shares failed to strike the right note with investors at its Tuesday launch on …

Struggling SAS files for Chapter 11 bankruptcy proceedings in US

Jul 05 2022

Faced with financial difficulties and a massive pilot strike, Scandinavian airline SAS said Tuesday it has filed for …

China mulls dipping into pork reserves to rein in costs

Jul 05 2022

Chinese authorities said Tuesday they could dip into pork reserves and ordered suppliers to slaughter more pigs in a bid …

Hacker claims major Chinese citizens' data theft

Jul 05 2022

A hacker claiming to have stolen personal data from hundreds of millions of Chinese citizens is now selling the …

Markets mostly up on talk Biden to roll back some China tariffs

Jul 05 2022

Most markets rose Tuesday on growing speculation US President Joe Biden is about to roll back some of the Trump-era …

I.Coast eyes cassava for its bread as wheat prices surge

Jul 05 2022

As wheat prices are driven upwards by the war in Ukraine, bakers in the West African state of Ivory Coast are starting …

Tunisia struggles to grow more wheat as Ukraine war bites

Jul 05 2022

Tunisian farmer Mondher Mathali surveys a sea of swaying golden wheat and revs his combine harvester, a rumbling beast …

US, China discuss 'severe' economic challenges, supply chains

Jul 05 2022

Top officials from the United States and China held a "candid" video call on Tuesday to discuss global economic …

Asian markets rise on talk Biden to roll back some China tariffs

Jul 05 2022

Asian markets rose Tuesday on growing speculation US President Joe Biden is about to roll back some of the Trump-era …

'Guerrilla' sales, crowdsourcing: Japan's game console crunch

Jul 05 2022

It's still dark when the line starts forming outside an electronics store in Tokyo, as desperate gamers try to snag the …

Mecca businesses see hajj boom ending pandemic slump

Jul 05 2022

"Business is back", exclaims Abdullah Mekhlafi at the shop where he sells prayer mats in Islam's holiest city, which is …

Markets react badly to Argentina economy minister appointment

Jul 04 2022

Argentina's peso fell sharply against the US dollar on the informal market Monday after the appointment of a new economy …

Markets react badly to new Argentina economy minister appointment

Jul 04 2022

Argentina's peso fell sharply against the US dollar in the informal market on Monday following the appointment of new …

Indigenous protests cost Ecuador $1 bn, central bank says

Jul 04 2022

Eighteen days of protests over the cost of living by Indigenous Ecuadorans who blocked roads and oil wells cost the …

Stocks mostly advance as optimism creeps back in

Jul 04 2022

European and Asian stocks mostly advanced Monday as investors tentatively regained some optimism following the heavy …

Kellogg's loses court challenge against UK obesity strategy

Jul 04 2022

Cereals giant Kellogg's on Monday lost a High Court challenge against new UK rules limiting the prominence of sugary …

UK drivers in go-slow protest over surging fuel prices

Jul 04 2022

Protesters snarled up major UK roads on Monday with a slow-moving procession of vehicles to demand government action …

Central African Republic dives into crypto with the Sango

Jul 04 2022

Undeterred by the turmoil hitting crypto, the Central African Republic (CAR) -- one of the poorest and most troubled …

European equities recover as optimism creeps back in

Jul 04 2022

Europe's stocks recovered somewhat Monday as investors tentatively regained some optimism following the heavy losses in …

Trial of Chinese-Canadian tycoon who disappeared in 2017 begins in China

Jul 04 2022

Canadian-Chinese tycoon Xiao Jianhua is standing trial on Monday, Ottawa's embassy in Beijing said in a statement, after …

Turkish inflation hits two-decade high of 78.6%

Jul 04 2022

Inflation in Turkey in June soared to an annual rate of 78.6 percent -- the highest in 24 years, according to official …

Stocks fluctuate as traders fret over recession

Jul 04 2022

Markets swung Monday as traders fret over a possible recession caused by central bank interest rate hikes aimed at …

Chinese developer Shimao misses $1 bn bond payment

Jul 04 2022

Chinese developer Shimao Group said it has failed to make payment on a $1 billion bond that matured Sunday, one of the …

Bezos slams Biden appeal for lower gasoline prices

Jul 03 2022

Amazon founder Jeff Bezos has criticized President Joe Biden for calling on oil companies to lower sky-high gasoline …

Sri Lanka grinds to a halt as fuel reserves shrink

Jul 03 2022

Sri Lanka has less than a day's worth of fuel left, the energy minister said Sunday, with public transport grinding to a …

DR Congo drug manufacturing plan sparks safety concerns

Jul 03 2022

Sitting at his desk overlooking a pharmaceutical factory floor on the outskirts of the Congolese capital Kinshasa, Joss …

Mixed fortunes of celebrities who leapt on NFT craze

Jul 03 2022

Sports, film and music stars have all flocked to the NFT market to buy pictures of apes, endorse corporate partners or …

In mine-infested sea, Romania aims to cut Russia gas reliance

Jul 03 2022

Gas now flows to Romania from a new Black Sea platform operating in waters where mines and warships have been spotted.

US funds software for Russians to slip past censors

Jul 03 2022

A US-backed campaign is giving Russians access to anti-censor software to dodge Moscow's crackdown on dissent against …

US multinationals grapple with soaring dollar

Jul 03 2022

The rapid rise of the US dollar since the start of the year is a double-edged sword for American multinational …

Argentine economy minister who renegotiated IMF debt resigns

Jul 03 2022

Argentine economy minister Martin Guzman, who led debt renegotiations with the International Monetary Fund, announced …

Hundreds of flights axed as US kicks off long holiday weekend

Jul 02 2022

Airlines struggling to staff their planes cancelled hundreds of US flights Saturday at the start of a long and almost …

Tesla deliveries fall with temporary closure of China factory

Jul 02 2022

Tesla's deliveries of electric vehicles fell in the second quarter compared to the previous one due mainly to a …

Google to delete user location history on US abortion clinic visits

Jul 02 2022

Google announced Friday it would delete users' location history when they visit abortion clinics, domestic violence …

Kerry vows US to meet climate goal despite court setback

Jul 01 2022

US climate envoy John Kerry vowed Friday the United States will meet goals it submitted to the United Nations on …

Global stocks mixed as eurozone inflation hits record

Jul 01 2022

Wall Street stocks shrugged off early weakness to begin the second half of 2022 on a solid note Friday, but record …

Flights cancelled in Spain due to Ryanair, EasyJet strikes

Jul 01 2022

Fifteen flights to and from Spain were cancelled on Friday and dozens of others delayed due to the latest strike by …

Automakers reports lower Q2 US sales as supply chain woes persist

Jul 01 2022

General Motors, Toyota and other automakers suffered a hit to US sales in the latest quarter as supply chain woes …

French police bust gang selling fake Bordeaux wine

Jul 01 2022

French police have broken up a gang that had allegedly produced hundreds of thousands of bottles of fake Bordeaux wine …

Stocks choppy, dollar frothy

Jul 01 2022

Stock markets wobbled on Friday while the dollar shot higher against the euro and pound as investors fretted about …

S.Leone slashes 'zeros of shame' from banknotes

Jul 01 2022

Sierra Leone on Friday introduced a new family of banknotes, stripping three zeros off the leone, in a bid to restore …

GM reports lower Q2 sales as supply chain woes persist

Jul 01 2022

General Motors reported a 15 percent drop in US auto sales in the second quarter as supply chain woes continued to crimp …

Google to pay $90 mn in settlement with app developers

Jul 01 2022

Google will fund a $90-million settlement to small app developers who had alleged the technology giant abused its market …

Europe stocks steady as eurozone inflation hits record high

Jul 01 2022

European stock markets steadied Friday with traders digesting news of record-high eurozone inflation that reinforced …

Eurozone inflation hits record, as gas crunch looms

Jul 01 2022

Eurozone inflation accelerated to another record high in June, official data showed on Friday, as Russia's war in …

Amazon secure Champions League rights in UK for first time

Jul 01 2022

Amazon has secured live rights to the Champions League in the UK for the first time from 2024.

Japan warns on 'interests' after Russia gas project decree

Jul 01 2022

Japan's energy "interests must not be undermined", Tokyo said Friday, after Moscow issued a decree transferring …

Metaverse years from being global phenomenon, says pioneer

Jul 01 2022

Big brands are rushing to the metaverse but the path to profit is still unclear and mass adoption may be years away, one …

Crypto lending world sways under risk and turmoil

Jul 01 2022

Starting with the lofty goal of competing with traditional banks, cryptocurrency lending giants and their clients now …

Asian markets drop with traders gripped by recession fear

Jul 01 2022

Asian markets struggled again Friday following another selloff on Wall Street fuelled by recession fears, with warnings …

Bankrupt Sri Lanka's inflation jumps beyond 50%

Jul 01 2022

Sri Lanka's inflation hit a ninth consecutive record in June, official data showed Friday, rising to 54.6 percent a day …

World Bank creates fund to better prevent, respond to pandemics

Jul 01 2022

The World Bank's board on Thursday approved creation of a fund meant to finance investments in strengthening the fight …

Asian markets struggle as traders gripped by recession fear

Jul 01 2022

Asian markets struggled again Friday following another selloff on Wall Street fuelled by recession fears, with warnings …

Argentina's black market dollar trade: illegal but part of life

Jul 01 2022

It is hard to come by but ever-present on the mind of average Argentines: the US dollar, whose value relative to the …

Flight trouble: Strained US airlines face July 4 test

Jul 01 2022

US airlines are bracing customers for what will probably be another bumpy holiday weekend as the industry struggles to …

Stocks and oil sink on recession fears

Jun 30 2022

World stock markets mostly sank Thursday on intensifying recession fears, while oil prices receded after an OPEC …

US Supreme Court limits government powers to curb greenhouse gases

Jun 30 2022

The US Supreme Court ruled Thursday that the government's key environmental agency cannot issue broad limits on …

Washington blocks more than $1 bn in Russian oligarch's US assets

Jun 30 2022

The United States on Thursday blocked a US-based company worth more than $1 billion linked to Russian oligarch Suleiman …

US inflation high but stable in May as spending slows

Jun 30 2022

A key US inflation measure showed price increases held steady in the 12 months ended in May, while consumer spending …

Salmonella found in world's biggest chocolate plant

Jun 30 2022

Production has been halted in the world's biggest chocolate plant, run by Swiss giant Barry Callebaut in the Belgian …

OPEC+ stays the course on oil output boost

Jun 30 2022

Major oil producers led by Saudi Arabia and Russia stuck to a previously decided output boost on Thursday, despite calls …

EU and New Zealand seal 'state-of-the-art' trade deal

Jun 30 2022

European Commission chief Ursula von der Leyen said Thursday the EU and New Zealand had sealed a free trade deal after …

US firefighters adapt to 'new hazards' in electric car blazes

Jun 30 2022

California firefighters ended up using a water-filled pit to douse stubborn flames in a Tesla's battery compartment …

Stocks sink on recession fears, oil slips

Jun 30 2022

World stock markets mostly sank Thursday on intensifying recession fears, while oil prices receded after an OPEC …

US prices high but stable in May, spending slows

Jun 30 2022

A key US inflation measure showed price increases held steady in the 12 months ended in May, while consumer spending …

Stocks sink on recession fear, oil slips before OPEC

Jun 30 2022

World stock markets mostly sank Thursday on intensifying recession fears, while oil prices receded before an OPEC output …

OPEC+ tipped to stay the course on oil output boost

Jun 30 2022

Major oil producers led by Saudi Arabia and Russia are expected to stick to a previously decided output boost on …

UK urged to cleanse 'stain' of dirty Russian money

Jun 30 2022

For all its tough talk against Russia, the UK's government is failing to enforce its promises to clean up dirty foreign …

Markets mostly down on recession fear, China data lends some light

Jun 30 2022

Most markets fell again Thursday as traders fear that hefty rate hikes to rein in soaring inflation will spark a …

Markets mostly hit by recession fear but China offers some light

Jun 30 2022

Most markets fell again Thursday as traders fear that hefty rate hikes to rein in soaring inflation will spark a …

Japan's Kirin offloads Myanmar beer business over coup

Jun 30 2022

Japanese drinks giant Kirin said Thursday it has agreed to a buyout of its shares in a Myanmar joint venture with a …

Samsung begins production of advanced 3nm chips

Jun 30 2022

Samsung Electronics became the first chipmaker in the world to mass produce advanced 3-nanometre microchips, the company …

Services, manufacturing rebound in China after Covid curbs eased

Jun 30 2022

China's factory and services activity picked up in June, official data showed Thursday, fuelled by the easing of …

Asian markets mostly down but China data offers some light

Jun 30 2022

Most Asian markets fell again Thursday as traders fear that hefty rate hikes to rein in soaring inflation will spark a …

Cairo's floating heritage risks being towed away by grand projects

Jun 30 2022

Dozens of vibrantly coloured floating homes have for decades dotted the banks of the River Nile, rare havens of leafy …

OPEC+ expected to stay course on oil output boost

Jun 30 2022

Major oil producers led by Saudi Arabia and Russia are expected to stick to a previously decided output boost at their …

'No progress made' on Iran nuclear talks: US State Department

Jun 30 2022

Indirect talks in Qatar's capital between Iran and the US on reviving a 2015 nuclear deal have concluded with "no …

US secures 105 million doses of Pfizer vaccine for fall

Jun 29 2022

The United States on Wednesday announced an agreement with Pfizer and BioNTech for 105 million doses of Covid vaccine …

Webb telescope: NASA to reveal deepest image ever taken of Universe

Jun 29 2022

NASA administrator Bill Nelson said Wednesday the agency will reveal the "deepest image of our Universe that has ever …

Recession fears weigh on European, Asian stocks

Jun 29 2022

Asian and European stock markets nursed losses Wednesday on resurgent fears that sharp interest rate hikes aimed at …

Subscription version of Snapchat makes its debut

Jun 29 2022

US tech firm Snap on Wednesday launched a subscription version of Snapchat as it looks to generate more money from the …

Recession fears haunt markets

Jun 29 2022

Asian and European stock markets nursed losses Wednesday on resurgent fears that sharp interest rate hikes, aimed at …

UK extends steel tariffs, breaching WTO obligations

Jun 29 2022

Britain has extended steel tariffs for another two years to protect its ailing industry, the government said Wednesday, …

Aquaculture drives aquatic food yields to new high

Jun 29 2022

The production of wild and farm-raised fish, shellfish and algae reached record levels in 2020, and future increases …

World equities slide on recession fear

Jun 29 2022

Global stock markets nursed steep losses Wednesday on resurgent fear that sharp interest rate hikes, aimed at tackling …

Germany plans return to debt-limit rules in 2023

Jun 29 2022

Germany will reinstate its so-called debt brake in 2023 after suspending it for three years to cope with the impact of …

How long will it take to get over the inflation hump?

Jun 29 2022

Inflation has surged back to levels not seen in many developed economies since the 1970s and 1980s. Economists and …

Equity market losses driven by recession, inflation fears

Jun 29 2022

Fears of a recession caused by sharp interest rate hikes aimed at fighting soaring inflation sent Asian and European …