Tech News

Asian markets rise on talk Biden to roll back some China tariffs

Asian markets rose Tuesday on growing speculation US President Joe Biden is about to roll back some of the Trump-era tariffs on Chinese goods as he looks for ways to rein in inflation, though sentiment remains at a premium owing to fears of a recession.. "Given that inflation remains the White House public enemy number one, (investors are) leaning toward a gradual rollback of some China tariffs as it would reduce end costs to US consumers," said SPI Asset Management's Stephen Innes.

Mon, Jul 4, 2022 3 mins read

Tech News

Mecca businesses see hajj boom ending pandemic slump

"Business is back", exclaims Abdullah Mekhlafi at the shop where he sells prayer mats in Islam's holiest city, which is preparing for the biggest influx of hajj pilgrims since the coronavirus pandemic began.. "We had few customers (during the last two hajj seasons), but today business is back, thanks to God.

Mon, Jul 4, 2022 3 mins read

Tech News

'Guerrilla' sales, crowdsourcing: Japan's game console crunch

It's still dark when the line starts forming outside an electronics store in Tokyo, as desperate gamers try to snag the latest PlayStation or Xbox despite chronic shortages in Japan.. Tetsuya, 50, has been trying to get a console since February and lined up before 6:30 am with dozens of other people outside a store in the electronics district of Akihabara.

Mon, Jul 4, 2022 3 mins read

Tech News

Markets react badly to new Argentina economy minister appointment

Argentina's peso fell sharply against the US dollar in the informal market on Monday following the appointment of new Economy Minister Silvina Batakis.. Argentina operates an official exchange rate, which stood at 132 pesos against the US dollar, depreciating by just over one percent on Monday.

Mon, Jul 4, 2022 2 mins read

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Indigenous protests cost Ecuador $1 bn, central bank says

Eighteen days of protests over the cost of living by Indigenous Ecuadorans who blocked roads and oil wells cost the country at least $1 billion, the central bank said Monday as the movement's leader went on trial.. He was arrested on the second day of protests, and held for 24 hours before being freed pending trial for the illegal road closures.

Mon, Jul 4, 2022 2 mins read

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Kellogg's loses court challenge against UK obesity strategy

Cereals giant Kellogg's on Monday lost a High Court challenge against new UK rules limiting the prominence of sugary foods in English shops to tackle child obesity.. But in a ruling on Monday, the court noted that no breakfast cereal manufacturer raised objections to the methodology during the consultation period about the rules.

Mon, Jul 4, 2022 1 mins read

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UK drivers in go-slow protest over surging fuel prices

Protesters snarled up major UK roads on Monday with a slow-moving procession of vehicles to demand government action against rocketing fuel prices.. On the roads, a social media campaign called Fuel Price Stand Against Tax mobilised drivers to drive deliberately slowly on motorways and other arterial routes, demanding the government slash fuel duty.

Mon, Jul 4, 2022 2 mins read

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Central African Republic dives into crypto with the Sango

Undeterred by the turmoil hitting crypto, the Central African Republic (CAR) -- one of the poorest and most troubled countries in the world -- has unveiled plans to launch its own digital currency.. On April 27, Touadera's office abruptly announced that the CAR had adopted Bitcoin as legal tender alongside the CFA franc, a currency the country shares with five other central African economies.

Mon, Jul 4, 2022 2 mins read

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Turkish inflation hits two-decade high of 78.6%

Inflation in Turkey in June soared to an annual rate of 78.6 percent -- the highest in 24 years, according to official data released Monday -- as President Recep Tayyip Erdogan's unconventional economic policies continued to take their toll.. According to the official data, the surge in inflation in June was driven by a jump of 123.4 percent in the cost of transportation and a 94-percent increase in non-alcoholic drinks.

Mon, Jul 4, 2022 3 mins read

Tech News

Turkish inflation hits two-decade high of 78.6%

Inflation in Turkey in June soared to an annual rate of 78.6 percent -- the highest in 24 years, according to official data released Monday -- as President Recep Tayyip Erdogan's unconventional economic policies continued to take their toll.. According to the official data, the surge in inflation in June was driven by a jump of 123.4 percent in the cost of transportation and a 94-percent increase in non-alcoholic drinks.

Mon, Jul 4, 2022 2 mins read