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India extends micro-credit guarantee plan for five years

"" NEW DELHI: The Union Cabinet on Wednesday approved the continuation of the Credit Guarantee Fund for Micro Units (CGFMU) for five years up to March 2031, a move that will facilitate loans of Rs 12.

Spain's General Strike Links Housing Crisis to Lost Purchasing Power

Spain experienced its first nationwide general strike in 14 years as unions protested soaring housing costs and shrinking purchasing power. Transport and traffic were disrupted in several large cities, although unions and employer groups offered sharply different estimates of participation.

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Singapore engineer pivots from oil rigs to 'fish farm of the future'

A high-tech fish farm floats just off the coast of Singapore, part of a plan by a retired engineer who once built oil rigs to bring diners cleaner, healthier seafood.

WTO chief insists global trade body still counts

The head of the World Trade Organization insisted Friday the WTO was still relevant as it prepares for its main gathering with few major deals on the table.

Tens of thousands protest Hungary child abuse pardon

Tens of thousands protested Friday in central Budapest against a presidential pardon in a child abuse case that is becoming the biggest political crisis Hungarian Prime Minister Viktor Orban has faced since his return to power in 2010.

US Fed should be patient as rate cuts considered: official

The US Federal Reserve should "resist the temptation to act quickly" as it contemplates the right time to begin interest rate cuts, a senior bank official said Friday.

US wholesale prices rose more than expected in January

US wholesale prices rose more than expected in January, according to government data published Friday, as services costs were lifted by a jump in the index for hospital outpatient care.

Russian invasion catalyst for renewables in Ukraine: minister

The wartime destruction of its coalmines and several of its power plants are proving a catalyst for Ukraine's renewable energy transition, said the country's Energy Minister German Galushchenko.

France, Germany block EU deal on scaled-back app worker law

France and Germany on Friday refused to back a watered-down agreement on controversial EU rules covering app workers in the gig economy, European diplomats said.

Hot US inflation report stops Wall Street stocks rebound

A larger-than-expected rise in US wholesale prices Friday rekindled worries over the timing of interest rate cuts and brought a halt to Wall Street's recent rebound.

London Fashion Week kicks off with tribute to New York

London Fashion Week kicked off Friday with a tribute to New York, as Princess Diana's favoured couturier delivered a show featuring scarves and blouses adorned with the city's famous taxis and skyscrapers.

'Resilient' Africa set for growth rebound: ADB

Africa saw the pace of economic growth sag last year as inflation continued to rise but is set to rebound this year, the African Development Bank said Friday.

UK bank NatWest shakes off CEO turmoil as profits jump

British bank NatWest on Friday said net profit jumped nearly a third in 2023 on higher interest rates, adding that Paul Thwaite would become permanent chief executive following boardroom turmoil.

Global stock markets stage pre-weekend rally

Europe's stocks rallied Friday, with Frankfurt and Paris striking more record peaks after solid Asian gains, as investors shrugged off recessions in Britain and Japan before publication of key US data.

Seoul hopes egg freezing can help S. Korea baby crisis, experts disagree

As South Korea's birth rate hits fresh lows, Seoul city officials have a plan to help -- subsidised egg freezing. But experts warn the initiative is unlikely to reverse precipitous demographic decline.

Asian markets rally after Wall Street highs

Asian markets rose Friday, supported by Wall Street and eurozone records, as traders shrugged off weak US retail sales and recession in Britain and Japan.

Cuba boosts doctors' wages in bid to halt mass exodus

Cuban cardiologist Alexey Lopez, 59, is sleeping a bit better since his salary got a bump -- part of government efforts to stop its renowned health care system from bleeding doctors amid the island's worst economic crisis in decades.

World Bank endorses new Afghanistan approach which could unlock $300 mn

The World Bank's executive board endorsed a new approach to its relationship with the people of Afghanistan Thursday under which new funds of around $300 million could be made available, outside the control of the Taliban authorities.

Global stocks rally even as Japan, Britain enter recession

Global stocks rose to fresh records Thursday despite lackluster economic data that included negative growth reports from Britain and Japan that qualified both countries as in recession.

Rod Stewart banks $100 million for song catalog: report

Rod Stewart, the singer whose hits include "Maggie May," is the latest artist to sell the rights to his music, The Wall Street Journal said Thursday.

World Bank approves $300 mn in new funding for Afghanistan

The World Bank's executive board has approved $300 million in new funds for Afghanistan, which it will deploy outside the control of the Taliban authorities, the development lender confirmed Thursday.

Four Xbox exclusives heading to rivals in big shift

Microsoft on Thursday shook up the video game world with word it is making some once-exclusive Xbox video games available for play on rival consoles.

Thom Browne's Poe-tinged dark romance ends NY Fashion Week

In a sparse warehouse dotted with trees, models sauntered down the catwalk in tweed coats to the sound of ravens as US designer Thom Browne closed New York Fashion Week with what he called a "romantically dark" show.

Musk fights US state of Delaware after Tesla pay debacle

Elon Musk is on the warpath against Delaware and its powerful business court, moving his SpaceX company out of the eastern US state after a judge struck down his $56 billion compensation package at Tesla.

US dollar dominance not under threat, despite risks: Fed official

The status of the US dollar as the world's reserve currency is likely to continue, despite threats posed by China's rise and the growth of cryptocurrencies, a US Federal Reserve official said Thursday.

Bitcoin's renewed euphoria as price keeps rising

Bitcoin is forecast to keep on rising after hitting fresh two-year highs above $50,000 on Thursday, leaving analysts to wonder whether investors have moved on from recent cryptocurrency setbacks, including scandals.

Global stocks rebound rolls on

A rebound in global stocks largely continued on Thursday despite lacklustre economic data in the United States and news the UK and Japanese economies had fallen into recession.

Mailed abortion pills found to be safe ahead of US ruling

Abortions administered as pills sent in the mail are just as safe and effective as those provided in person, a US study said Thursday ahead of a Supreme Court ruling on restricting the medication.

Giant teddy bear nabs Peru drug dealers in Valentine raid

Happy Valentine's Day, you're under arrest!

Global stocks rebound begins to fizzle

A rebound in global stocks appeared to fizzle on Thursday, with Wall Street held back by lacklustre data and London by news the UK economy had fallen into recession.

US retail sales in January log biggest fall in almost a year

Retail sales in the United States slipped more than anticipated last month, retreating after the holiday season and bogged down by auto sales and gas prices, government data showed Thursday.

US retail sales slump more than expected in January

Retail sales in the United States fell more than analysts anticipated last month, bogged down by weak auto sales and lower gas prices, government data showed Thursday.

Tractors gather in central Madrid in farmers' protest

Spanish farmers kept up their protests over the sector's troubles on Thursday, with tractors parked outside of the agriculture ministry in central Madrid before a meeting with Agriculture Minister Luis Planas.

EU cuts growth and inflation forecasts for 2024

The European Commission on Thursday cut both its growth and inflation forecasts for the eurozone in 2024, as it warned geopolitical tensions spelled rising uncertainty for the single-currency area's economy.

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American Marconi Wireless News - Economy (English)