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Saudi Arabia to invest $7 bn in theme parks near Paris: French presidency

France and Saudi Arabia on Monday signed a memorandum of understanding for a six-billion-euro ($7 billion) Saudi investment to create three theme parks near Paris, including one likely to be manga-themed, the office of the French president said.

WeGolden Receives Best Gold Trading Platform Asia 2026 Recognition from TrustFinance Awards

WeGolden has received the Best Gold Trading Platform Asia 2026 recognition from the TrustFinance Performance Awards, highlighting its gold-focused trading environment, platform capabilities, and accessibility across supported Asian markets.

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Crisis-hit Sri Lanka hikes rates as protests spiral

Cash-strapped Sri Lanka's central bank hiked interest rates by a record 700 basis points Friday as police fired tear gas at hundreds of students protesting about the economic crisis.

Indonesian thrill-seekers dine in the sky

Indonesians are heading out to eat again as the Covid-19 pandemic's grip on the country loosens, and some thrill-seekers in Jakarta are celebrating by having dinner while dangling 50 meters in the air.

Tape of you: Sheeran films songwriting sessions after court case

Ed Sheeran says he now films his songwriting sessions to try to avoid future copyright claims after winning a high-profile court case this week.

World food prices hit record high over Ukraine war: FAO

World food prices hit an all-time high in March as Russia's invasion of Ukraine sent "shocks" through markets for staple grains and vegetable oils, the UN's Food and Agriculture Organization said on Friday.

Asian markets track Wall St gains, traders wary of hawkish Fed

Asian markets mostly rose Friday after a tough week dominated by the US Federal Reserve's hawkish tone that has set it on an aggressive tightening path, while oil ticked higher after another series of losses.

Kenyans heal devastated land with the power of mangroves

Along a riverbank scarred by logging, Joseph Mwandenge Mangi points out a solitary mangrove tree, a species once abundant in the forest where the mighty Sabaki River meets the sea.

Tesla inaugurates huge Texas plant with 'Cyber Rodeo'

Tesla welcomed throngs of electric car lovers to Texas Thursday for a huge party dubbed a "cyber rodeo" to inaugurate a manufacturing plant the size of 100 soccer fields.

The struggle to save Cuban sugar from bitter end

A whistle reverberates through a sugar factory in central Cuba to signal the resumption of milling at midday after an hours-long halt when the raw cane ran out.

Toshiba pauses spin-off plan, weighs going private

Troubled Japanese conglomerate Toshiba has said it is suspending its plan to split into two after last month's shareholder vote against the idea and will now weigh the possibility of going private.

Amazon to fight union's win in NY labor election

Amazon told a federal agency it will file "substantial" objections to last week's worker election in New York that established the company's first union in the United States, according to a filing released Thursday.

Chile's Boric unveils economic recovery plan

Chile's new leftist president, Gabriel Boric, whose election in December was met with market skepticism, announced an economic recovery plan worth $3.7 billion Thursday that envisages the creation of half a million jobs.

US recession fears grow as Fed plots aggressive course

The Federal Reserve has made clear it will come out guns blazing to battle the highest inflation rate in four decades, but that has sparked increasing fears their campaign will plunge the world's largest economy into recession.

IMF, Lebanon strike conditional deal on $3 bn aid

The IMF announced Thursday a conditional agreement to provide Lebanon with $3 billion in aid to help it emerge from a severe economic crisis, following months of negotiations.

Walmart hikes starting US trucker pay to as much as $110,000/year

Walmart will lift starting pay for truckers to as much as $110,000 a year in the retail giant's latest move to recruit and retain logistics staff in the tight US labor market.

US ends normal trade ties with Russia over Ukraine invasion

The US Congress voted Thursday to end normal trade relations with Moscow and codify the ban on Russian oil, as the White House ratchets up pressure on President Vladimir Putin over his invasion of Ukraine.

Maradona's daughter claims wrong jersey is up for auction

Diego Maradona's eldest daughter claims that the Argentina shirt being auctioned is not the one her late father wore when he scored the infamous "Hand of God" goal against England.

IMF reaches agreement on $3 bn deal for Lebanon

The IMF announced Thursday that after months of negotiations it reached a staff-level agreement to provide Lebanon with $3 billion in aid to help it emerge from a severe economic crisis.

Stocks wilt as investors brace for US Fed tightening

US and European stocks retreated Thursday after minutes from central banks showed US policymakers ready to aggressively wind back easy-money policies while their eurozone counterparts disagreed over their own way forward.

ECB members divided over inflation response: minutes

European Central Bank policymakers disagreed last month on how to respond to runaway inflation and economic uncertainty caused by the Ukraine war, minutes from their meeting showed on Thursday.

Sri Lanka asks experts to plan debt restructure as protests rage

Sri Lanka's president has appointed a panel of experts to organise a restructuring of foreign debt as he seeks a way out of a worsening economic crisis, with protests demanding his resignation escalating.

Greece to double coal output to reduce Russian gas use

Greece's government said Thursday it plans to double production of lignite, or brown coal, in the coming two years despite the pollution it causes as Athens aims to reduce its dependence upon Russian gas.

Rodin 'Thinker' auction expected to reach up to 14 mn euros

A cast of "The Thinker" by Auguste Rodin will be auctioned in Paris on June 30, expected to reach between 9 and 14 million euros ($10-$15 million), Christie's said Thursday.

Eurozone stocks climb but London slips

Eurozone stocks rose Thursday but London drooped as investors digested news that the Federal Reserve held off from a bigger interest rate hike last month owing to Ukraine turmoil, dealers said.

Pakistan rupee nosedives against dollar as political crisis rocks confidence

The Pakistan rupee dropped to a historic low of 191 rupees to the dollar Thursday as an ongoing political crisis rocked confidence in the currency.

Energy giant Shell hikes Russian exit hit to $5 bn

Shell on Thursday warned that its exit from Russia over the Ukraine war would cost the British energy giant up to $5 billion, but it would fulfil pre-conflict contracts to buy fuel from Moscow.

Asian markets track Wall St down with Fed set to tighten screws

Asian equity markets fell Thursday after minutes from the Federal Reserve's latest policy meeting indicated it is preparing to aggressively wind back its monetary policy, while oil prices rebounded from another big drop.

Shell to take hit of up to $5 bn on Russia exit

British energy giant Shell warned Thursday that it would take a hit of up to $5 billion (4.6 billion euros) on its exit from Russia, following Moscow's invasion of Ukraine.

Hong Kong leader defends Covid flight ban policy

Hong Kong's leader on Thursday defended her policy of temporarily banning flight routes that bring in coronavirus cases, as a leading airline industry figure warned the city had fallen "off the map" as an aviation hub.

The race to dominate satellite internet heats up

Though satellite internet has existed for years, the competition is about to rapidly intensify, with companies planning to launch thousands of their own systems into low Earth orbit.

Samsung forecasts Q1 operating profit up 50.3% year-on-year

Samsung Electronics expects operating profits for the first quarter to rise 50.3 percent, the South Korean tech giant said in a statement Thursday, despite global supply chain woes.

'Amazon, here we come': Biden cheers US union drive

President Joe Biden sang praises for organized labor once again Wednesday, hailing last week's triumph by union backers at Amazon as a sign of what is possible throughout the United States.

Many US Fed officials support future half-point increase: minutes

At their March policy meeting, several US Federal Reserve officials supported raising interest rates by half a percentage point in the future to combat inflation, minutes released Wednesday said.

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American Marconi Wireless News - Economy (English)