Japan's finance ministry said Thursday it intervened in the currency market to bolster the yen, which has plummeted against the dollar in recent months on the widening policy gap between the US and Japanese central banks.. The yen has been weakening against the dollar for months, but sank further on Thursday after the US Federal Reserve again hiked rates to tame inflation, while the Bank of Japan left its ultra-loose monetary policy in place.
The yen sank to a fresh 24-year low against the dollar on Thursday, with the greenback surging to nearly 146 after Japan's central bank left its ultra-loose monetary policy unchanged, a day after the Federal Reserve ramped up interest rates and warned of more to come.. "It will continue expanding the monetary base until the year-on-year rate of increase in the observed CPI exceeds two percent and stays above the target in a stable manner."
Markets sank Thursday and the dollar rallied after the Federal Reserve unveiled a third straight jumbo interest rate hike, said more were in the pipeline, and warned the battle against inflation was straining the US economy.. Commentators are now betting on a fourth straight 75-basis-point rate hike at the next Fed meeting in November.
Almost every week now, European governments are announcing emergency measures to protect households and businesses from the energy crisis stemming from Russia's war in Ukraine.. It is important that governments make an effort to focus this action on the most vulnerable households and businesses as much as possible," he said.
Hong Kong is set to end the year in the midst of a full-blown recession, the city's finance chief warned Thursday, as spiralling interest rates join strict Covid-19 controls in hammering the economy.. The government has adhered to a version of China's zero-Covid policy for more than 2.5 years, enforcing strict coronavirus controls and mandatory quarantine for international arrivals.
Hong Konger Kitty Chan pivoted to takeout to help her restaurant survive the pandemic, but she has since opened a second shop as demand for cheap mealboxes surges in a city enduring economic woes.. Mealbox restaurants are also popular with Hong Kongers who have refused to vaccinate themselves against Covid.
Wearing headphones and anti-sweat finger sleeves, gamers from eight countries guided gun-toting avatars through a battle royale in the Saudi capital, as cheering onlookers watched the action on a big screen.. The outcry was immediate and intense, led by LGBTQ gamers who condemned Saudi Arabia's prohibition of same-sex sexual acts, which can be a capital offence.
The Swiss will vote Sunday on whether to ban intensive livestock farming in the largely rural country, which already has some of the world's strictest animal welfare laws.. The Swiss would also have to invest large amounts in costly inspections of foreign farms, it argues.
A US jury on Wednesday ordered Meta to pay $174.5 million for violating live-streaming patents developed by a US Army veteran seeking to fix shortcomings in battlefield communications.. "Mr. Katis and his team began developing communications solutions in 2006 to remedy these shortcomings," his lawyers said.
Climate groups called Wednesday for the World Bank's president to be removed after he refused multiple times to say if he believed man-made emissions contributed to global warming.. The Big Shift, a consortium of climate groups, called Wednesday for the World Bank's board to remove Malpass over the comments.
