Economy
Labour crunch forces Croatia to open doors to Asian workforce
Durga Phuyal had hoped to start anew when she landed in Croatia, but the Nepali migrant faced an uphill battle to adjust to life in the Balkan country. In Nepal, Phuyal paid 7,000 euros in total for the various fees, documents and travel expenses before landing Croatia.
Panama opens new cruise ship terminal at mouth of canal
Panama on Tuesday inaugurated a new cruise ship terminal at the mouth of the drought-hit Panama Canal, hoping to attract more tourists to the Central American nation. "The cruise terminal will generate new tourist routes... attracting more visitors to our country," Cortizo said at an opening ceremony.
Canadian farmers 'not satisfied' with EU trade deal
Canadian farmers say they are bewildered by the French Senate's rejection last week of the free trade agreement between the EU and Canada -- as agricultural producers and trade experts suggest that the accord mainly benefits Europeans over their North American counterparts. "We cannot reduce the free trade agreement to just agriculture," added Dufour.
Port blocked by Baltimore bridge collapse is key hub for US shipping
Baltimore's Francis Scott Key Bridge, named after the poet who penned the lyrics to the US national anthem, used to carry around 34,000 vehicles a day across one of the busiest harbors in the United States. The extended closure of the Francis Scott Key Bridge "will inevitably disrupt commercial activities and supply chains," the Maryland Chamber of Commerce said in a statement.
Vietnam appeals to US for 'market economy' status
Vietnam called Tuesday on the United States to recognize it as a market economy, saying stronger trade ties would benefit Washington in key areas as it seeks to diversify from China. Vietnam and China are among a dozen countries designated non-market economies by the United States, allowing tougher actions on exports.
Swiss Re warns insured disaster losses could double in a decade
Insured property losses could double in the coming decade due to climate change and more frequent and more intense severe weather events, reinsurance giant Swiss Re warned Tuesday. Swiss Re estimates that insured losses "could double within the next 10 years as temperatures rise and extreme weather events become more frequent and intense".
Chinese EV giant BYD announces record annual profit for 2023
Chinese battery and automotive giant BYD achieved a record profit in 2023, annual results showed Tuesday, despite fierce competition in the country as demand for electric vehicles grows. As BYD continues to perform well in the competitive Chinese market, it is now expanding abroad.
Unilever eyes ice cream float in Amsterdam
British consumer goods giant Unilever is mulling an Amsterdam stock market flotation for its ice cream division, whose top-selling products include Ben & Jerry's and Magnum, according to CEO Hein Schumacher. "As a company, we are now listed in London, the largest market for ice cream is the United States and we currently run the ice cream division from the Netherlands."
Karl Lagerfeld's Paris apartment sold for 10 millions euros
The futuristic Paris apartment of late fashion designer Karl Lagerfeld sold for 10 million euros ($10.8 millon) at auction on Tuesday, its notary said. The final price (which was 11.1 million euros with notary fees) was roughly double the guide price, set at 5.3 million euros.
Economy
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