US Inflation Eases Slightly In July on Lower Petrol prices
US inflation decelerated in July by more than expected, reflecting lower energy prices, which may take some pressure off the Federal Reserve to continue aggressively hiking interest rates. The consumer [...]
Cathay Pacific Posts $637 Million Loss in H1 2022
Hong Kong airline, Cathay Pacific Airways has posted a $637 million loss in the first half of 2022, down from $964.5 million during the same period last year. Cathay’s first-half [...]
Elon Musk Sells Tesla Shares Worth $6.9 Billion
Elon Musk has sold $6.9 billion of stock (about 7.92 million shares) inTesla Inc., the billionaire’s biggest sale on record, saying he wanted to avoid a last-minute selloff of the [...]US trade deficit in June shrinks to 6.2%, Exports Hit Record High
US exports set another record in June, narrowing the US trade gap for the third consecutive month, according to official data released on Thursday. Goods and services exports rose by $4.3 [...]KQ Shoulders Losses as Schipol Extends Passenger Cuts to October
Kenya Airways (KQ) will continue to shoulder more losses on its Europe route after Schiphol International airport extended passenger caps to October from the initial August date it had issued. [...]Bank of England Hikes Interest Rates to 1.75%
The Bank of England (BoE) has hiked interest rates by 0.5% points to 1.75%, the biggest increase in 27 years. The BoE said that because of the latest surge in [...]China Hits Taiwan with Trade Curbs Amid Nancy Pelosi's Visit
China halted some trade with Taiwan in retaliation to the high-profile visit of US House Speaker Nancy Pelosi to the island, with more disruptions likely as political tensions intensify. China suspended some [...]Sri Lanka Set to Restart Bailout Talks with IMF
Sri Lanka's new President Ranil Wickremesinghe told parliament on Wednesday that talks with the International Monetary Fund (IMF) for a bailout package would restart in August as the country wrestles [...]Kenya UAE Set to Sign a Trade Deal to Deepen Investment Ties
Kenya and the United Arab Emirates have announced plans to start negotiations on a Comprehensive Economic Partnership Agreement (CEPA), the first trade deal that the UAE signs with an African nation. [...]Fed Hikes Interest Rate by 0.75% to Fight Rising Inflation
Federal Reserve officials raised interest rates by 75 basis points for the second straight month. Chair Jerome Powell said a similar move was possible again, rejecting speculation that the US [...]IMF Cuts Global Growth Outlook Warning High Inflation Could Lead to a Recession.
The International Monetary Fund (IMF) cut global growth forecasts again on Tuesday, warning that downside risks from high inflation and the Ukraine war were materializing and could push the world [...]China's Economy Rebounds in July Despite Housing and Covid Woes
China’s economic recovery gained momentum in July as business activities resumed and confidence improved, despite disruptions from sporadic Covid outbreaks across the country. Small business confidence improved on stronger expectations [...]
