AFP
13875 articles published since 08 Mar 2022
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South Korea to build 'world's largest' chip centre
South Korea said Wednesday it would build the world's largest chip centre using $230 billion of private investment mostly from Samsung Electronics, as it seeks an edge in the global industry.
UK unveils cost-of-living budget as mass strikes hit nation
Britain on Wednesday unveils a new cost-of-living budget, including more help on soaring energy bills, but the government is set to stand firm on rising public sector pay demands as the country endures a fresh wave of strikes.
Zara owner Inditex posts record profit
Zara owner Inditex, the world's biggest fashion retailer, reported record profits for 2022 despite halting operations in Russia and soaring global inflation. Inditex also overcame a surge in production costs that has hit manufacturers as inflation soared following Russia's assault on Ukraine.
China retail sales up in New Year after Covid reopening
Chinese retail sales rebounded in January and February as Beijing abandoned its suffocating zero-Covid policy, reopening borders and ending mandatory quarantine, and the country celebrated the Lunar New Year holiday. China usually releases January and February economic data together to ensure they are not skewed by the long Chinese New Year holiday.
Strike grips Sri Lanka as unions protest IMF bailout
Bankrupt Sri Lanka's hospitals were crippled and transport disrupted on Wednesday as trade unions protested against the doubling of taxes to qualify for a crucial IMF bailout. Officials involved in the negotiations said the IMF was closely monitoring the protests and social unrest since the tax reforms.
Africa pays the price as China and Russia muscle in
China and Russia are bolstering their presence in Africa to tap its rich natural resources, analysts say, amid grave warnings from UN agencies the world's poorest countries face accumulating crippling debts. The 1990s debt crisis in Africa was caused by Western countries, not by China or Russia, said Nantulya.
Syrian medical students study German in hopes of move abroad
His medical studies in Syria keep Mohammed Shasho busy enough but whenever he can he also pores over German vocabulary and grammar points in hopes of a move to Europe. "German is very difficult to learn, especially because it is not taught by native speakers in Syria," said the 23-year-old who regularly studies German textbooks and video tutorials.
Asian markets rally as bank worries ebb, Fed rates back in view
Asian markets bounced Wednesday as concerns about contagion from the collapse of two US regional lenders eased while investors turned their attention back to next week's Federal Reserve interest rate decision. - Eyes on the Fed - With the temperature over US banking lowered, traders were able to turn their attention back to inflation and the Federal Reserve's plans for interest rates.
Satellite constellations multiply on profit hopes, geopolitics
The massive constellation of satellites operated by SpaceX, while still growing, will soon be joined in low Earth orbit by many more commercial competitors, but also government-sponsored programs. But when it comes to government-sponsored projects, such as the EU's Iris, "commercial utility comes second."
AFP
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