Statistics South Africa confirmed the increases in prices of food amid Russia's invasion of Ukraine, which controls over a quarter of world wheat exports.
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Thames Water says needs more time for financial turnaround
Struggling UK utility firm Thames Firm needs more time to turn around its fortunes after announcing a slump in profits and mounting debt, one of its bosses said Tuesday. The Environment, Food and Rural Affairs Committee called a number of Thames Water bosses to give evidence about its debts.
Blue Origin announces space launch next week, first since 2022 crash
Blue Origin said on Tuesday it was aiming to launch its New Shepard suborbital rocket next week, the first mission since an uncrewed crash in September 2022 set back Jeff Bezos' space company. The two companies compete in the emerging space tourism sector, offering a few minutes of weightlessness in "suborbital" space.
Palestinian economy severely impacted by Israel-Hamas war: World Bank
The Israel-Hamas war in Gaza is having a severe impact on the Palestinian economy, according to the World Bank, which now estimates sharp economic contraction this year and next. Beyond the immediate human cost, the Israel-Hamas conflict has also "severely impacted the Palestinian economy," the World Bank announced in a statement published Tuesday.
Argentine government to unveil measures to avoid 'hyperinflation'
President Javier Milei's new government will on Tuesday unveil a set of emergency measures to avoid "hyperinflation" that are expected to deliver a shock to the country's ailing economy. The decision is to avoid it," government spokesman Manual Adorni said Tuesday.
US Fed kicks off rate meeting with another pause expected
The US Federal Reserve began a two-day interest rate meeting Tuesday at which policymakers are widely expected to hold rates steady for a third straight meeting as they continue the fight against high inflation.
US consumer inflation slows in November but pressures remain
Consumer inflation in the United States edged down for a second straight month in November, government data showed Tuesday, in encouraging news for policymakers seeking to get prices under control. The consumer price index (CPI), a closely eyed gauge of inflation, rose 3.1 percent from a year ago, said the Department of Labor, down from a 3.2 percent rate in October.
'New era': Berlin-Paris sleeper train completes maiden trip
A new sleeper service between Berlin and Paris arrived in the French capital on Tuesday, reflecting a growing drive for night trains as an alternative to short-haul flights. There are currently no direct daytime train services between Paris and Berlin.
Renault sells Nissan stake as part of rebalanced alliance
Renault said Tuesday that it was selling to Nissan part of the stake it owns in the Japanese automaker as the two companies rebalance their alliance. As part of the rebalanced alliance Nissan took a stake in Renault's new electric car division called Ampere. tsz/rl/rox
'Chip alliance': S. Korean president kicks off Dutch trip
South Korea's president on Tuesday kicked off a visit to the Netherlands, hoping to forge a "chip alliance" between the two global semiconductor powerhouses amid growing tech tensions with China.
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