AFP
13876 articles published since 08 Mar 2022
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Dutch authorities tow fire-struck cargo ship to new location
A cargo ship packed with electric cars ablaze off the Dutch coast has been towed to a new temporary position, authorities said Monday, racing to prevent an ecological disaster. Its new position is better suited "for the different scenarios and weather conditions expected", the authorities said, with Dutch broadcaster NOS adding that the ship is also now out of busy shipping lanes.
China announces consumption-boosting measures as data disappoints
Chinese authorities announced new measures to boost consumption on Monday, as fresh economic data suggested that the country's post-Covid recovery is running out of steam and growth is slowing. Official figures released Monday showed factory activity contracting for the fourth straight month in July, adding to a run of dismal economic data that has ramped up calls for government support measures.
UK to issue 'hundreds' of new oil, gas licences in North Sea
The UK government said Monday it would issue "hundreds" of new oil and gas licences in the North Sea to secure energy reserves while still aiming for net zero carbon emissions by 2050. Sunak added that even when Britain reaches its net zero target by 2050, a quarter of its energy needs will come from oil and gas.
Eurozone economy rebounds as inflation slows in July
Economic growth in the eurozone rebounded in the second quarter, data showed Monday, but concerns remain over inflation that is slowing yet still stubbornly high, and over stagnation in the German economy. There will be further concerns over the health of Germany's economy as inflation remains high, reaching 6.5 percent in July, Eurostat said, down slightly from 6.8 percent in June. raz/rmb/js
Hong Kong economy slows in second quarter after rebound
Hong Kong's economy expanded by 1.5 percent in the second quarter, data released Monday showed, indicating slowing growth after a robust start to the year. After its reopening, the economy bounced back in the first quarter, growing by 2.7 percent on year.
Asia joins Wall St rally on US rates, China hopes
Markets rallied Monday, tracing another bump on Wall Street, where investors cheered a further slowdown in US inflation that stoked optimism the Federal Reserve will not have to hike interest rates again.
China and Pakistan to mark mega infrastructure anniversary
Chinese Vice Premier He Lifeng was due in the Pakistan capital on Sunday to mark the 10th anniversary of a mega economic plan that is the cornerstone of Beijing's Belt and Road Initiative. Ahead of the visit, banners celebrating the anniversary and flags of both countries have been put on display across the Pakistan capital.
Decoupling from China 'an illusion', French finance minister says
France's finance minister said during a visit to Beijing on Sunday that cutting all economic ties with China was "an illusion", as some Western countries question their reliance on the Asian giant.
Egypt energy-saving measures power satirical reaction
Sweltering without air conditioning during the day and plunged into darkness at night, many Egyptians have responded with anger and ridicule to government measures for reducing energy consumption. In his televised address, Madbouli blamed the energy shortage on soaring temperatures which led consumption to exceed the government's supply of fuel.
AFP
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