BUSINESS

Ship Blaze Off Dutch Coast Losing 'Intensity'

Crews were racing to douse the fire aboard a cargo ship off the Netherlands
Rescuers were on Friday finally able to board a cargo ship packed with electric vehicles that caught fire off the Dutch coast but authorities said the flames, though less intense, still pose a risk to nearby natural sites.
Dozens of models in dark blues and pastels paraded down the riverfront catwalk that took Shanghai's Oriental Pearl Tower as a backdrop

Kenzo Presents First Fashion Show In China

Against Shanghai's glittering river skyline, Kenzo-clad models strutted down a breezy open-air runway on Friday for the French fashion brand's first-ever show in China.
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IAG, the owner of British Airways, Iberia and other airlines, posted a net profit of $1 billion in the first half

British Airways Parent IAG Flies Back To Profit

IAG, parent of British Airways, said Friday it returned to first-half profit as the aviation sector recovers from the Covid pandemic despite inflation lifting company costs and ticket prices.
Ethiopian Airlines boss Mesfin Tasew says the Covid pandemic bequeathed the airline sector with supply-chain problems and a burst of inflation

Ethiopian Airlines Facing 'Real Challenges' Despite Covid Success

Ethiopian Airlines successfully weathered the Covid pandemic by shifting its strategy, but Africa's only profitable carrier still faces "real challenges" in sourcing parts and staying competitive at a time of inflation, its CEO told AFP. The 2022-2023 financial year ending June 30 "was a very successful year," Mesfin Tasew said in an interview in Ethiopia's capital Addis Ababa.
The first World Meeting to celebrate the classic French car was held in 1975

2CV Classic Car Meet Gets Show On The Road

Around 5,000 Citroen 2CVs from across the globe are tootling into the Swiss countryside this week for a mass gathering celebrating the instantly recognisable French classic car.
Should the outcome of the EU investigation go against Microsoft, the firm could face a heavy fine or other ordered remedies

EU Opens Antitrust Probe Into Microsoft Over Teams

The European Commission on Thursday announced an antitrust probe into Microsoft bundling its Teams communications app with its popular Office suite, on concerns the firm could be cutting out competitors.
Analysts are divided over what the Fed under Chair Jerome Powell might do next

US Fed's Inflation Fight Enters New Phase

The US Federal Reserve's united front against inflation could be harder to hold together going into the next hike in September, with strong economic data and falling inflation figures fueling disagreement over the best path forward.
Illustration shows word "Crypto" and stock graph

Promising Crypto Projects To Follow In The Current Market Surge

Projects are attracting increased attention in the current bullish market era, and investors are actively entering the space. However, amid this surge, projects with exceptional utilities hold a unique advantage, as they gain double the trust and confidence of investors during such favorable seasons.
Turkey's new central bank chief Hafize Gaye Erkan, a former Wall Street executive, is unwinding President Recep Tayyip Erdogan's interest-rate policy

Turkish Central Bank Doubles Inflation Forecast

Turkey's central bank more than doubled its year-end inflation forecast to 58 percent on Thursday as its new Wall Street-trained governor vowed to keep raising interest rates after years of controversial policies.
The ECB began lifting borrowing costs in July last year to combat soaring costs

ECB To Mark Year Of Hikes With Inflation Still High

European Central Bank policymakers looked set to deliver another interest rate increase on Thursday as their fight against eurozone inflation reaches the one-year mark with consumer prices still rising fast.
The Fed is widely expected to raise interest rates by 25 basis points -- chief Jerome Powell will address reporters after the decision is released

Powell: Fed Is No Longer Forecasting US Recession

The Federal Reserve is no longer forecasting a recession for the U.S. economy, according to Fed Chair Jerome Powell.The FMOC increased the benchmark lending rate by a quarter percentile on Wednesday in an effort to keep inflation on a downward trend.

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