AFP
13875 articles published since 08 Mar 2022
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Pakistan inflation hits record-high 36.42 percent
Pakistan's year-on-year inflation hit its highest-ever level of 36.42 percent in April, after the government introduced new taxes and raised fuel prices to try to meet International Monetary Fund (IMF) conditions for a crucial bailout. Food prices were up by nearly 50 percent in April from a year earlier, with transport costs 57 percent higher.
Teapots, towels, tea bags: UK in coronation retail boost
Commemorative plates, towels and tea bags are vying for attention in shop windows near Buckingham Palace, ready for the first coronation of a British monarch in 70 years. In the souvenir shops behind the palace, customers come in to browse an eclectic mix of royal memorabilia, looking to spend "£15 to £20", according to store manager Ismayil Vadakkethil.
Fed begins rate talks that could herald end of hikes
The US Federal Reserve kicked off a two-day meeting Tuesday morning to decide whether to raise its benchmark lending rate for a 10th -- and possibly final -- time to tackle rising prices. Futures traders also see a more than 95 percent chance that the Fed will raise its benchmark lending rate by 25 basis points on Wednesday, according to CME Group.
Uber shares jump as it reports higher sales
Uber shares rocketed higher early Tuesday after the ride-hailing and delivery company reported a jump in revenues amid rising demand. Pointing to robust activity in numerous markets, the company reported a 29 percent jump in first-quarter revenues to $8.8 billion, with much higher gross bookings in both mobility and delivery.
Germany's Scholz in quest for Kenya clean energy deals
Chancellor Olaf Scholz heads Thursday to East Africa, seeking clean energy partnerships particularly with "trailblazer" Kenya where 90 percent of power needs are covered by renewables. Kenya is already Germany's biggest trading partner from East Africa and is planning to fully cover its energy needs with renewables by 2030.
Pfizer profits drop as it adapts to lower Covid-19 revenues
Pfizer reported a drop in first-quarter profits Tuesday on declining Covid-19 vaccine revenues, but said it was on track for a heavy series of product launches later in 2023. Pfizer has also forecast a 2023 decline in revenues in Paxlovid, its Covid-19 therapeutic.
HSBC profit rockets on rising interest rates
Global banking giant HSBC reported Tuesday a surge in quarterly net profit, boosted by rising interest rates and its rescue of the UK arm of failed US lender Silicon Valley Bank. - 'Positively exposed' to rates - HSBC said it was "positively exposed to rising interest rates" and forecast $34 billion in net interest income this year.
Building 'Mad Max' vehicles for Ukraine's fighters
With angular welded frames, huge wheels and teeth painted on the front grille, the one-off buggies being built to order for Ukrainian forces on the battlefield resemble props from the "Mad Max" films. It will be heavily armoured, with huge wheels.
Hong Kong reports Q1 GDP growth after 2022 contraction
Hong Kong's economy grew in the first quarter of 2023, the city's leader said Tuesday, ending a disastrous year-long spell in which the finance hub was effectively closed for business due to pandemic restrictions. At the beginning of 2023, Hong Kong's finance chief unveiled a US$97 billion budget aimed at resuscitating the city's fortunes.
AFP
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