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US Fed mulls more rate hikes amid banking uncertainty
US Fed mulls more rate hikes amid banking uncertainty
Business and Economy
by  AFP

American banks will be paying especially close attention to the Federal Reserve's interest-rate decision on Wednesday, as the collapse of Silicon Valley Bank (SVB) continues to reverberate through financial markets. The Fed will also update its GDP growth and interest-rate projections on Wednesday. da/caw

'Guns and Roses': Bulgaria arms trade booms on Ukraine war
'Guns and Roses': Bulgaria arms trade booms on Ukraine war
Business and Economy
by  AFP

With its huge munitions factories and endless rose fields, Kazanlak in central Bulgaria has been really living up to its "Guns and Roses" nickname since Moscow invaded Ukraine. Although Bulgaria itself has largely not sent arms to Ukraine because of the EU member's historic ties with Moscow, that is where Kazanlak's burgeoning production is mostly destined.

Asia tracks Wall St rally as Fed decision replaces bank worries
Asia tracks Wall St rally as Fed decision replaces bank worries
Business and Economy
by  AFP

Asia extended a global equities rally Wednesday as more pledges of government support soothed worries over the banking sector and provided some much-needed stability after more than a week of upheaval. - 'Fear index' drops - The US and European rally filtered through to Asia, where banks were among the big gainers with tech firms.