AFP
13876 articles published since 08 Mar 2022
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US home sales tick up in May but activity muted
Sales of existing homes in the United States edged up in May but activity remained muted on tighter supply and with interest rates still elevated, according to industry data released Thursday. Another factor, however, is available inventory and "existing-home sales activity is down sizably due to the current supply being roughly half the level of 2019," Yun said in a statement.
Cash-strapped Pakistan to lease part of Karachi port to UAE for $220 million
AD Ports Group of the United Arab Emirates (UAE) signed an agreement Thursday to take over the running of part of Pakistan's main Karachi docking facility in a deal worth an immediate $220 million, the company said. AD Ports Group has formed a joint venture with another UAE company, Kaheel Terminals, to take over berths from Karachi Port Trust (KPT), the state-owned handling agency.
US Fed official says more rate hikes necessary
A senior US Federal Reserve official said Thursday that additional interest rate hikes are needed to tackle historically high inflation. "Nearly all FOMC participants expect that it will be appropriate to raise interest rates somewhat further by the end of the year," he said, adding that "a big majority" believe two additional hikes will be needed this year.
Climate goals depend on fixing global finance: top economist
If world leaders and the heads of multilateral development banks gathered at a Paris summit recognise that climate goals depend on revamping the architecture of global finance, it would be a "historic" development, a top development economist said Thursday.
European airlines hit by 'greenwashing' complaint
European airlines have been hit by a consumer complaint filed with the EU's executive arm accusing the 17 companies of greenwashing, the practice of making misleading climate-related claims. The European Consumer Organisation, or BEUC, said Thursday the claims made by the airlines breach EU rules on unfair commercial practices.
Musk and Zuckerberg call out each other for cage fight
Tech titans Mark Zuckerberg and Elon Musk are in a fierce business rivalry that has spilt over into a playground spat, with the two men offering to fight each other in a cage. "The best Musk-Zuckerberg cage match is one in which two men enter and no men leave," wrote podcaster Bennett Tomlin.
First Olympic Esports Week kicks off
The first-ever Olympic-organised Esports Week kicked off in Singapore on Thursday, but an IOC official said there is currently no plan to include video games in the Olympic program. But he said there is currently "no discussion about integrating real traditional eSports and video games into the Olympic program".
Netflix CEO says $2.5 bn investment an 'opportunity' for S.Korea
Netflix's $2.5 billion investment in South Korea is an "opportunity" for local business, the streaming giant's CEO said Thursday, as he played down a dispute with local internet companies over network usage.
EU 'enforcer' visits Twitter, Meta as new rules loom
The EU commissioner in charge of enforcing Europe's new landmark rules on online content is heading to San Francisco on Thursday to ensure that the big platforms are ready.
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