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Asian markets bounce after tough week as US inflation looms
Asian markets bounce after tough week as US inflation looms
Economy
by  AFP

Asian markets rose Friday after falling for much of the week, with below-forecast US data injecting some fresh life into hopes the Federal Reserve will cut interest rates this year. "Assuming the PCE comes in OK, the data suggests the Fed doesn't need to hike and may cut later in the year," Capital.com's Kyle Rodda said.

Flood-hit Brazil businesses count losses, look to future
Flood-hit Brazil businesses count losses, look to future
Economy
by  AFP

The thriving economy of southern Brazil has been brought to its knees by historic floods, with vast agricultural land unusable and factories paralyzed. According to a local industry federation, nine out of 10 factories in the state have been affected by the flooding.

Humanity in 'race against time' on AI: UN
Humanity in 'race against time' on AI: UN
Technology
by  AFP

Humanity is in a race against time to harness the colossal emerging power of artificial intelligence for the good of all, while averting dire risks, a top UN official said Thursday. "We are in a race against time," she told the opening of a two-day AI for Good Global Summit in Geneva.

Oil giant Aramco says to offer shares worth over $10 bn on Saudi bourse
Oil giant Aramco says to offer shares worth over $10 bn on Saudi bourse
Economy
by  AFP

Oil giant Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than $10 billion in one of the biggest such offerings in recent years. In a statement posted to the Saudi stock exchange, Aramco announced a "secondary public offering of 1.545 billion shares", with an expected price range between 26.70 and 29 Saudi riyals ($7 to $7.70).