Coin Press - Economy

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Crude prices surge, stocks sink amid rising energy shock fears

Oil surged more than five percent Thursday and stocks sank as Iran attacked several Gulf energy facilities and warned of more in retaliation for a strike on one of its key gas fields.

Patching the wounds of Kinshasa's street children

In the back of a 4X4, a nurse cleaned a gash in a boy's arm, picked up from living rough on the streets of Kinshasa, the capital of one of the world's poorest countries.

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US, UK ramp up sanctions pressure on Russia over Ukraine

The United States and Britain on Sunday flagged new and "devastating" economic sanctions against Russia, as Washington and its NATO allies step up efforts to deter any invasion of Ukraine.

China factory activity edges down in January amid Covid outbreaks

Factory activity in China edged down in January, official figures showed Sunday, but slightly exceeded expectations as businesses struggled with sporadic disruptions due to coronavirus outbreaks.

Start ups bringing Pakistan's farming into digital age

Agriculture entrepreneurs are bringing the digital age to Pakistan's farmers, helping them plan crops better and distribute their produce when the time is right.

Bottom of gender rankings, Iraqi women defy critics to work

Each working morning, oil engineer Safa al-Saeedi dons a safety helmet and heads into a gas complex for another day challenging conservative prejudices by being a professional woman in Iraq.

Miami's lure during Covid sends housing prices through the roof

Miami resident Maria Ruby learned last month that her rent will shoot up 65 percent in February. She cannot afford it and does not know where to go.

A Ukrainian mother vows to take up gun if Russia invades

Standing in the dining room of her Kyiv flat, mother-of-three Mariana Zhaglo pulls her long rifle out of its khaki case.

UK assisted dying bill hopes to end 'inhumane' suicides

Molly Meacher's voice quivers with emotion as she tells how her aunt took her own life after her liver cancer tumour grew to the size of a football.

Qatar looks to profit from Europe gas fears over Ukraine

Europe's fears of losing Russian gas supplies in the Ukraine crisis will loom large when Qatar's emir meets the US president on Monday but the powerful Gulf ruler has no "magic wand", analysts say.

Amazon accused of anti-union tactics in New York

US labor authorities have filed a complaint accusing e-commerce giant Amazon of using threats and surveillance against its workers trying to organize a union at a New York City warehouse.

At collapsed bridge, Biden envisions rebuilding America

A bridge collapse Friday in Pittsburgh provided a symbolic backdrop for President Joe Biden's trip to the city to tout his $1 trillion infrastructure plan -- and try rebuilding his own crumbling approval ratings.

Russia loses a million people in historic population fall

Russia's population declined by more than one million people in 2021, the statistics agency Rosstat reported Friday, a historic drop not seen since the collapse of the Soviet Union.

US regulator points to progress in allowing 5G at more airports

US aviation officials reported progress Friday on allowing more 5G service near airports following negotiations with telecommunications providers, but airlines said there were still some disruptions.

Wall Street rebounds, European stocks slump at end of volatile week

European stock markets ended a volatile week in the red of Friday, as investors weighed expectations of economic recovery against soaring inflation, rising interest rates and mixed earnings.

Bridge collapses in Pittsburgh just before Biden speech

US inflation slowed in December, spending fell: govt

In the final month of 2021, Americans dialed back their spending even as incomes rose thanks to wage increases, while inflation showed signs of moderating, government data released Friday said.

Argentina president announces new debt deal with IMF

Argentine President Alberto Fernandez unveiled what he called a "reasonable" new debt repayment deal with the International Monetary Fund on Friday, the day a $700-million repayment was due.

Caterpillar reports profit jump but warns of supply chain headwinds

Caterpillar reported a jump in fourth-quarter earnings Friday on surging demand for industrial equipment, but warned that supply chain problems will probably continue to weigh on results in 2022.

Italy speeds up presidential vote but deadlock persists

Italy on Friday sought to accelerate the process of electing a new president after days of deadlock that has paralysed Prime Minister Mario Draghi's government, but parliament remained bitterly divided.

Rwanda to reopen Uganda border in boost to ties

Rwanda said Friday it would reopen its land border with Uganda next week after a three-year closure, a major breakthrough in repairing relations between the neighbours.

IMF warns China's property stress poses spillover risk

A funding crisis battering China's big property developers could start to shake the wider economy and global markets, the IMF warned on Friday, saying deeper reforms were needed to fully curb the threat.

Left out in the cold by Spain's soaring energy prices

In her flat on the outskirts of Madrid, Pamela Ponce no longer turns on the heating despite the biting chill coming in through the windows.

Google to invest $1 bn in India's number two mobile operator

Google will invest up to $1 billion in India's second-largest mobile operator, Airtel, the companies said Friday, as the Android-maker looks to bolster its presence in the vast nation's booming telecoms market.

Toyota keeps top-selling automaker title despite chip crunch

Toyota retained its crown as the world's top-selling automaker on Friday, having overcome a chip shortage and supply chain woes to beat Volkswagen for a second straight year.

Philippines to re-open to vaccinated foreign tourists

The Philippines will re-open to fully vaccinated tourists from most countries on February 10 and lift quarantine requirements, officials said Friday, nearly two years after closing its borders to contain the coronavirus.

China Unicom says no 'justifiable grounds' for US ban

China Unicom said Friday there were no "justifiable grounds" for a US order that banned the company from operating in the country on national security concerns.

Ex-government workers mine for salvation in Afghan mountains

In the bone-splitting chill of the Afghan mountains, Mohammad Israr Muradi digs through coarse earth spilling from the open mouth of an emerald mine.

German industry seeks ladder out of supply chain woes

A new warehouse with a freshly unboxed smell is the consequence of the coronavirus pandemic for the German ladder, stool and scaffold-maker Munk.

Salvadorans show support for bitcoin despite IMF criticism

Karen Hernandez sells mobile phone accessories in El Salvador and says business has been through the roof since the country started using bitcoin as legal tender.

Apple quarterly revenue record high despite chip shortage

Apple reported record $124 billion quarterly revenue on Thursday, despite a global chip pinch and shifting impacts of the pandemic that have weighed down other big tech players.

Morocco starts construction of anti-Covid vaccine plant

Morocco on Thursday inaugurated construction of an anti-Covid vaccine manufacturing plant in partnership with Swedish firm Recipharm, the official news agency MAP reported.

Honduras: Poor, violent and corrupt

Honduras, which inaugurated Xiomara Castro as its first-ever woman president Thursday, is a small country with idyllic beaches at the heart of Central America's "triangle of death," plagued by gangs, poverty and corruption.

McDonald's profits rise as fast-food giant lifts prices carefully

Price increases helped McDonald's report higher profits Thursday as the fast-food giant navigates an inflationary environment that it argues advantages the Big Mac maker over its competitors.

Coin Press - Economy (English)