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Lufthansa doubles profit in 2023 as demand booms
Lufthansa doubles profit in 2023 as demand booms
Economy
by  AFP

German airline giant Lufthansa said Thursday it had doubled profits in 2023 on booming demand, as the aviation sector extends a rebound from the coronavirus pandemic. Like other airline groups, Lufthansa was hit hard when the coronavirus shut down global air travel and it had to be bailed out by the German government in 2020.

China trade surges in first two months of 2024
China trade surges in first two months of 2024
Economy
by  AFP

China's exports sharply accelerated in the first two months of 2024, official figures showed Thursday, providing policymakers a bright spot as they battle to revive the world's second-largest economy. Exports have been increasing since November, after six straight months of contraction.

Asian markets swing ahead of key US jobs data
Asian markets swing ahead of key US jobs data
Economy
by  AFP

Equities fluctuated in Asian trade Thursday as investors try to assess the Federal Reserve's plans for interest rates after boss Jerome Powell indicated they would start to come down this year. Traders are also keeping an eye on a policy meeting of the European Central Bank later Thursday, which is not expected to see any movement but investors are hoping for some guidance.

EU faces uphill battle to rein in big tech
EU faces uphill battle to rein in big tech
Technology
by  AFP

The EU's landmark curbs on how tech titans do business online kick in from Thursday, but just how far Brussels succeeds in bringing the giants to heel will hinge on bitter battles that still lie ahead. European tech businesses share this concern: industry sources said they want Brussels to make sure big tech follows the rules, not just propose new ones.

Despite oil riches, Libyans hit by plummeting purchasing power
Despite oil riches, Libyans hit by plummeting purchasing power
Economy
by  AFP

Libya may sit on Africa's biggest oil reserves, but many families are struggling with rapidly rising consumer prices as the festive Muslim holy month of Ramadan nears. Economic analyst Abubakr al-Tur said "Libya is experiencing a critical situation with rising prices and a currency devaluation".