AFP
13876 articles published since 08 Mar 2022
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Niger finance minister rebuffs pressure to drop oil drive
Niger's finance minister says lack of support from rich countries makes it impossible for his impoverished nation to abandon revenue from oil. Under this scenario, oil income would account for half of the country's fiscal revenue and a quarter of GDP. Income from oil compares starkly with the funds channelled by rich countries to help poorer nations move to a climate-friendlier path, said Jidoud.
Airlines to return to profit in 2023: IATA
Airlines are expected to return to profit next year for the first time since 2019 despite slowing global growth as they recover from a Covid-induced crisis, an industry group said Tuesday. And that expected improvement comes as global GDP growth slows, according to IATA's forecast, to 1.3 percent from 2.9 percent in 2022.
Libya tells foreign energy firms it's safe to return
Libya's state energy firm urged its foreign oil and gas partners to resume exploration and production Tuesday assuring them security had begun to improve dramatically after clashes earlier this year. NOC said its appeal followed a "realistic and logical analysis of the security situation, which has begun to improve dramatically."
Oversight board slams Meta for special treatment of high-profile users
An oversight panel said on Tuesday Facebook and Instagram put business over human rights when giving special treatment to rule-breaking posts by politicians, celebrities and other high-profile users. Meta told the board the program is intended to provide an additional layer of human review to posts by high-profile users that initially appear to break rules for content, the report indicated.
South African GDP rebounds to scale new peak
South Africa's economy rebounded beyond pre-Covid levels in the third quarter of 2022 to reach its highest-ever peak, official data showed Tuesday. "The size of the economy now exceeds pre-pandemic levels," the official statistics agency said in a statement.
Biden celebrates giant semiconductor project
President Joe Biden flies Tuesday to Arizona to celebrate the mammoth expansion of a Taiwanese semiconductor plant, citing the project as proof that the United States is finally breaking dangerous dependency on foreign manufacturers for the vital component.
EU agrees ban on imports driving deforestation
The European Union reached an agreement Tuesday to ban the import of products including coffee, cocoa and soy in cases where they are deemed to contribute to deforestation. The scope encompasses palm oil, cattle, soy, coffee, cocoa, timber and rubber as well as derived products such as beef, furniture and chocolate.
Philippine lawmakers propose $4.9 bn sovereign wealth fund chaired by Marcos
Philippine lawmakers have proposed a $4.9 billion sovereign wealth fund to be chaired by President Ferdinand Marcos Jr to boost growth, but critics warn it will be prone to graft and risk Filipino pensions.
Asian markets swing as Fed worries offset China Covid easing
Asian markets were mixed Tuesday as fresh fears that the US Federal Reserve will push interest rates higher than hoped played off against growing optimism over China's economic reopening. Markets had been running higher ahead of the jobs figures after a surprise drop in inflation and comments from Fed boss Jerome Powell that the bank would likely raise rates at a slower pace.
AFP
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