Economy

Economy Latest News

Gold hits record peak on US rate cut hopes
Gold hits record peak on US rate cut hopes
by  AFP

The price of gold on Tuesday struck an all-time pinnacle, boosted by its haven status ahead of expected cuts to US interest rates amid growing economic gloom.

EU proposes vast defence boost as Ukraine war drags on
EU proposes vast defence boost as Ukraine war drags on
by  AFP

EU officials on Tuesday unveiled an ambitious proposal to massively boost weapons production and procurement in the bloc to shift from a reliance on US arms and in reaction to Russia's invasion of Ukraine.

Shady bleaching jabs fuel health fears, scams in W. Africa
Shady bleaching jabs fuel health fears, scams in W. Africa
by  AFP

In her quest for "fair skin", an Ivorian YouTuber recently visited a market stall in Abidjan to receive several injections promoted as containing whitening agents. An Ivorian trader promoting a brand named Glutax told AFP that a wholesaler in Manila was behind the products.

China's economic woes far from over, despite optimistic growth goal
China's economic woes far from over, despite optimistic growth goal
by  AFP

China's economic troubles are far from over and leaders admit the country will face an uphill struggle in hitting its goals for 2024, piling on the pressure for stimulus and reforms that experts say are needed to reverse the malaise. That will continue to trouble consumers who have been hit hard by high youth unemployment and the broader economic uncertainty.

Chemicals giant Bayer rules out break-up 'for now' after huge loss
Chemicals giant Bayer rules out break-up 'for now' after huge loss
by  AFP

German chemicals giant Bayer vowed Tuesday to "urgently" address key challenges after plunging deep into the red in 2023, weighed down by woes related to its glyphosate-based weedkillers. Anderson said Bayer faced "four challenges that urgently must be addressed."

Women battle on for equality in top business jobs
Women battle on for equality in top business jobs
by  AFP

More women are taking top management jobs but inequality persists, with men still dominating business leadership roles, research showed ahead of International Women's Day on March 8. But the overall figures for women's representation at companies show they are still in a minority at the top level.

Bezos dethrones Musk to reclaim title of world's richest man
Bezos dethrones Musk to reclaim title of world's richest man
by  AFP

Amazon founder Jeff Bezos took back his spot as the world's richest man on Monday, dethroning Elon Musk on the Bloomberg Billionaires Index. Bezos, who no longer runs Amazon, has meanwhile benefited from the ecommerce giant's rising stock price.