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US Commerce chief warns against China 'threat'
US Commerce Secretary Gina Raimondo on Saturday urged lawmakers, Silicon Valley and US allies to stop China from getting semiconductors and cutting-edge technologies key to national security. Speaking at an annual national defense forum in Simi Valley, California, Raimondo called Beijing "the biggest threat we've ever had" and stressed "China is not our friend."
To greenwash or do the right thing? Corporate dilemmas at COP28
They call the giant climate business expo running outside the COP28 United Nations talks in Dubai the "green zone". With the enormous former Expo 2020 site given over to green -- and not so green -- companies to trumpet their climate credentials, the private sector has never been embraced so warmly at a climate summit as it has been in the oil-rich city state.
Nuclear power has role to play, atomic energy head tells AFP at COP28
It would be a mistake to reject nuclear power because of problems at a handful of projects, Rafael Grossi, head of the International Atomic Energy Agency said in an interview with AFP. Grossi was speaking at the COP28 conference in Dubai, where on Saturday a group of large countries are expected to call for nuclear power capacity to be tripled by 2050 as part of the fight against global warming.
IMF to revise regional outlook over Israel-Hamas conflict
The IMF announced Friday that it will revise its economic outlook for the Middle East and North Africa region due to the ongoing Israel-Hamas conflict. It did not say if the revisions would be released ahead of its next outlook publication, which is due in January.
US Fed Chair Jerome Powell calls rate cut speculation 'premature'
It is still "premature" to speculate on when the US Federal Reserve will start cutting interest rates despite the bank's recent progress on inflation, Fed Chair Jerome Powell said Friday. On Friday, Powell said the Fed's rate-setting Federal Open Market Committee (FOMC) would continue its inflation battle despite the apparent success of its "restrictive" stance of monetary policy.
UK unveils £11 bn windfarm investment by UAE, German firms
UK Prime Minister Rishi Sunak announced Friday plans by UAE state-owned renewables firm Masdar and German energy giant RWE to invest up to £11 billion ($14 billion) in a giant offshore windfarm. "I'm pleased to announce a new deal between Masdar and RWE, which includes a commitment to jointly invest up to £11 billion into the UK's new windfarm at Dogger Bank," said Sunak.
Designer Matthew Williams leaves Givenchy
Fashion designer Matthew Williams is leaving Givenchy after three years as creative director, the French luxury brand announced Friday, in the latest shake-up at the top of the luxury business. Williams described his time as creative director as "the dream of a lifetime" in the statement.
Inflation, unemployment weigh on DR Congo leader's economic gains
President Felix Tshisekedi, who once vowed to transform DR Congo into "the Germany of Africa", has promised to create jobs if he is re-elected, after a first term marked by economic growth but soaring inflation. Jobs are a hot-button electoral issue -- Tshisekedi has promised to create 6.4 million by attracting investors, and the main opposition candidates are also promising jobs.
British train drivers set to continue pay strike
Train drivers belonging to Britain's Aslef union on Friday voted to continue strike action for the next six months in a long-running dispute over pay that has caused chaos on the country's rail network. Aslef's decision to continue striking comes after rail workers with the RMT union voted on Thursday in favour of a pay deal to end more than a year of walkouts.
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