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India's troubled Adani invests in bankrupt Sri Lanka
India's troubled Adani invests in bankrupt Sri Lanka
Business and Economy
by  AFP

Cash-strapped Sri Lanka on Thursday announced its first major foreign investment since it declared bankruptcy, approving a $442 million wind power project by India's scandal-hit Adani group. The project comes after Sri Lanka awarded Adani a $700 million strategic port terminal project in Colombo in 2021.

Chinese livestreamers flock outdoors for late-night tips
Chinese livestreamers flock outdoors for late-night tips
Business and Economy
by  AFP

In the dead of night on a bridge in southern China, around two dozen livestreamers sat crooning and chatting into microphones, their identical ring lights spaced a few metres apart in glowing rows. Livestreaming on apps like Douyin, which said it had 600 million users in 2020, is a popular way to make money in China.

Asian markets mixed but little joy as traders eye more Fed hikes
Asian markets mixed but little joy as traders eye more Fed hikes
Business and Economy
by  AFP

Markets were mixed Thursday, with little buying enthusiasm after minutes from a Federal Reserve policy meeting indicated interest rates will likely keep rising longer than previously feared. "Almost all participants agreed that it was appropriate to raise the target rate for the federal funds rate 25 basis points at this meeting."

Bosnian furniture sector spurs economic growth
Bosnian furniture sector spurs economic growth
Business and Economy
by  AFP

The screech of chainsaws echoes through a Bosnian forest edged by snowy peaks, where lumber is to be crafted into high-end furniture to adorn European or South Korean homes. Eldin Sabeta, head of sales at Standard Furniture Factory -- one of the country's largest exporters, said Bosnian producers have consistently crafted superb products at more affordable prices compared to many competitors.