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Bank of Japan scraps negative interest rate
Bank of Japan scraps negative interest rate
Economy
by  AFP

Japan's central bank on Tuesday on Tuesday its negative interest rate as it finally began unwinding one of the world's most aggressive monetary easing programmes. Because negative interest rates mean banks lose out by parking capital with the BoJ, the policy was aimed at encouraging them to lend to businesses and thereby jump-start the economy and inflation.

Michelin unveils 62 newly starred French restaurants
Michelin unveils 62 newly starred French restaurants
Economy
by  AFP

The Michelin Guide unveiled its annual list of the best French restaurants Monday, praising the "cultural dynamism" of a new generation of chefs, though again honouring only a handful of women. Among top chefs, the Michelin Guide is as feared and criticised as it is respected.

Iconic US magazine Sports Illustrated gets publishing lifeline
Iconic US magazine Sports Illustrated gets publishing lifeline
Technology
by  AFP

Sports Illustrated, one of America's most storied magazines, saw an end to months of limbo Monday as a new 10-year publishing deal was announced. On Monday, the turmoil appeared to have subsided as Sports Illustrated's owner said it has chosen a new company to publish the magazine, Minute Media, for a 10 year deal.

US oil stockpile to be refilled this year: Energy secretary
US oil stockpile to be refilled this year: Energy secretary
Economy
by  AFP

The United States plans to refill its strategic oil reserve by the end of 2024 after the stockpiles reached historic lows last year, Energy Secretary Jennifer Granholm said Monday. "By the end of this year we will essentially be back to where we would have been absent the sales," Granholm said at the CERAWeek energy conference in Houston.