Columbia Professor Jeffrey Sachs criticises the US's economic activity in Africa, calling for unity among African states and reflecting on ties with China.
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China's Huawei says expects revenue up almost nine percent in 2023
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At halfway point, next challenges loom for ECB's Lagarde
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Angry Polish farmers protest EU rules, Ukraine farm imports
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Ford beats earnings expectations despite rising labor cost
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China's leaders to set growth goals as economic woes mount
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Saudi Aramco's Q1 profit down 14.5 percent: statement
Oil giant Saudi Aramco announced first-quarter net profit of $27.27 billion on Tuesday, down 14.5 percent from last year as the Gulf kingdom kept production cuts in place. Net income was 102.27 billion riyals ($27.27 billion), down from 119.54 billion riyals ($31.88 billion) for the same quarter in 2023, Aramco said, adding that "the decrease was primarily a result of lower crude oil volume sold".
UBS net profit up 71% after two quarters in the red
Swiss banking giant UBS on Tuesday said first quarter net profit rose 71 percent to nearly $1.8 billion after two quarters in the red due to the takeover of Credit Suisse. In March 2023, Swiss authorities strongarmed UBS into the $3.25-billion takeover to prevent Credit Suisse from going under with catastrophic consequences for the global financial system.
Chinese mill blamed for turning Serbia village red with pollution
In the eight years since Chinese company HBIS bought a steel mill near the eastern Serbian city of Smederevo, locals say they have been plagued by heavy air pollution and thick red dust. - Cancer cases quadrupled - The Serbian Environmental Protection Agency has ranked Smederevo repeatedly among the country's most polluted cities, classified as having "excessively polluted air".
Asia tracks another rally on Wall St as US rate optimism lingers
Asian markets built on the latest global rally Tuesday as optimism that the US Federal Reserve will cut interest rates this year continued to breeze through trading floors.
Boeing probed in US over possible falsified records on 787
US air safety authorities are investigating whether embattled aviation giant Boeing completed required inspections on its 787 aircraft and whether employees falsified records, officials said Monday. "The FAA is investigating whether Boeing completed the inspections and whether company employees may have falsified aircraft records," the agency said.
EU ready for 'tough decisions to protect economy', von der Leyen tells China
European Commission President Ursula von der Leyen said on Monday that the EU would not shrink back from taking tough measures to protect its economy and security, amid tense trade relations with China. "Europe will not waver from making tough decisions needed to protect its economy and its security," she said.
EU election could force sharp turn in electric car policy
A change at the top of European institutions could herald a change in the 2035 target to phase out sales of internal combustion engine cars even though the automotive industry is already well down the road towards transitioning to electric vehicles.
Europe's auto suppliers reach the end of the road
Emrullah Karaca has made brakes for the past 20 years, but he is now learning to assemble heat pumps instead, as the Continental factory where he works in northern Germany is slated to close. "Brakes or heat pumps, it's all the same to me," said Karaca, whose two parents both worked for Continental at the factory.
Indonesia first-quarter growth boosted by election, holiday spending
Indonesia's economic growth accelerated in the first quarter of 2024 on the back of election and religious holiday spending, official data showed Monday. Government estimates had projected growth of 5.17 percent but experts warned Jakarta's official data might not be reliable to judge economic performance.
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