AFP
13875 articles published since 08 Mar 2022
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Hong Kong economy shrank 3.5 percent in 2022
Hong Kong's economy shrank by 3.5 percent in 2022, with exports plunging and the city's worst-ever coronavirus outbreak battering businesses, the government announced Wednesday, while saying it hoped China's reopening would spur a recovery.
Adani shares nosedive as Indian tycoon drops down rich list
Shares in the Indian tycoon Gautam Adani's flagship firm nosedived again on Wednesday as its owner dropped out of the Forbes top 10 rich list following allegations of massive accounting fraud. Adani's personal fortune has plummeted by more than $40 billion in the same period, according to the real-time Forbes list, dropping him out of the top 10 and below fellow Indian Mukesh Ambani.
Indonesian islanders file Holcim climate complaint
Residents of the Indonesian island of Pulau Pari have filed a complaint against the Swiss cement giant Holcim, demanding compensation for climate damage, the NGO backing them announced Wednesday. The complaint requests that Holcim pay compensation for the damage already caused on the island and finance flood protection measures on the picturesque island north of Jakarta.
US Fed set to slow rate hikes but signal inflation fight not over
The Federal Reserve starts the second day of its policy meeting Wednesday, on growing expectations that it will step down to a smaller interest rate hike as red-hot inflation shows signs of cooling. Policymakers are widely expected to announce a 0.25 percentage point rate hike at the end of their two-day meeting, slowing from a half-point increase in December and steeper hikes before that.
Electric cars gain record market share in Europe
Electric car sales set a new market share record in the European Union in 2022, industry figures showed Wednesday, as the region seeks to rid itself of fossil fuel cars. In Norway a record four out of five new cars (79 percent) sold last year were electric, in a major oil-producing country that aims to end the sale of new fossil fuel cars by 2025 -- a decade ahead of the EU's ban.
Share sale fails to halt Adani market slide in India
A successful public offer failed to stop investors dumping shares in Indian tycoon Gautam Adani's business empire for a fifth day on Wednesday after allegations of massive accounting fraud from a short-seller investment group.
EU lays out response to US green tech subsidies
The EU will reveal Wednesday plans to counter the threat to European industry from US green energy subsidies and unfair competition from China, with leaked proposals pointing to a controversial expansion of state aid rules. Draft proposals seen by AFP suggest the fund idea will be jettisoned in the short term but state aid rules will be extended to the green technology sector.
Biden, Republican leader clash -- with US economy at stake
President Joe Biden and the new Republican speaker of the House of Representatives, Kevin McCarthy, face off Wednesday at the White House to discuss the US debt standoff -- but so far apart they can't even agree on how to describe their get-together.
Arctic cold 'no sweat' for electric cars in Norway
Norwegian electric car owners have a word for the way they feel when they look nervously at their battery indicators while driving in subfreezing weather: "rekkevideangst", or "range anxiety".
AFP
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