Hong Kong confirmed Thursday it will host an international banking summit in early November, days after it lifted mandatory quarantine rules for arrivals that have battered the city's reputation as a business hub.. Arrivals in the city no longer have to quarantine in hotels, but they cannot enter restaurants or bars for three days after landing and must undergo regular testing.
Asian stocks rallied Thursday as UK and US government yields fell after the Bank of England jumped into bond markets to prevent a fresh financial catastrophe.. The spending plan sent yields on UK government bonds, as well as those of other countries, soaring and raised the prospect of even bigger interest rate hikes.
Luxury sports carmaker Porsche will debut on the Frankfurt stock exchange Thursday in one of Europe's biggest listings in years, hoping its brand power can attract investors despite market turbulence.. "On Thursday, sports car icon Porsche goes full throttle and races onto the stock market," read a column in the paper.
Outside, balmy September sunshine warms an idyllic coast, as California basks in yet another perfect day.. Quantum mechanics is a field of research that scientists say could be used one day to help limit global warming, design city traffic systems or develop powerful new drugs.
French designer Olivier Rousteing pulled out all the stops on Wednesday in his latest collection for Balmain at Paris Fashion Week, closing his show with US star Cher on the catwalk.. The show began with Cher on a screen, saying: "All of us invent ourselves.
Apple on Wednesday confirmed that it removed popular Russian social network VKontakte from its App Store globally due to sanctions imposed by Britain.. VK apps are used for messaging, digital payments and grocery shopping as well as social networking.
Barbados on Tuesday became the first country to secure agreement on a financing package under a new IMF fund aimed at helping low-income countries tackle the impacts of climate change.. The IMF aims to mobilize $45 billion for the RST with contributions from member governments and provide 20-year loans available to about 140 low- and middle-income nations eligible for the funding. hs/sw
Moscow questioned Wednesday whether Washington caused mystery undersea gas pipeline leaks in Europe, that have been blamed on sabotage, which US officials bluntly called ridiculous as Russia opened a "terrorism" probe. . Swedish intelligence announced it was opening an investigation into the massive leaks in the Baltic Sea, branding them "aggravated sabotage," hours after the EU called the damage a "deliberate act".
The EU's executive on Wednesday proposed a new round of sanctions on Moscow over its latest "escalation" in Ukraine, including an oil price cap and ban on Russian exports worth seven billion euros ($7 billion). . It will also look to ban Russian exports worth $7 billion and tighten restrictions on goods flowing from the EU that could help Russia's war machine.
Kwasi Kwarteng has been finance minister for less than a month but is already in the firing line as Britain's economy teeters on the brink following his first policy announcement.. The 47-year-old free-marketeer last week announced sweeping tax cuts, spooking currency and bond markets concerned about his mammoth spending commitments, and earning a rebuke from the IMF. Kwarteng is a close ally of Liz Truss, who this month won the race to become prime minister following the resignation of scandal-hit Boris Johnson.
