BUSINESS

Chipmakers revived stock markets on Thursday, helping to sooth investor worries over a potentially rapid recession because of looming rate hikes, while the euro struggled near a 20-year parity with the safe-haven dollar.

Asian stocks managed gradual gains on Thursday as investors grappled with the risks of a recession and a potential pause in interest rate hikes, while the euro traded at a two-year low and oil began to claw back overnight losses.

The dollar traded little changed against the euro and other trading currencies on Thursday, though sterling held on to gains after Boris Johnson said he was quitting as British prime minister.

A pullback in the dollar offered the euro some respite, allowing it to edge away from two-decade lows reached this week after surging energy prices fanned recession fears.

The euro hovered near a two-decade low against the dollar on Thursday as Europe's energy woes cast a long shadow over the economic outlook.

The Central Bank of Sri Lanka (CBSL) raised its key rates by a full percentage point on Thursday to tackle record high domestic inflation and to contain any build-up of underlying demand, it said.

'Scary to be queer': Lebanon cracks down on LGBTQ rights

Samsung Electronics expects operating profits in the second quarter to rise 11.4 percent, the South Korean tech giant said in a statement Thursday, despite ongoing global supply chain woes.

The US Treasury said Wednesday it was freezing the assets of members of an international network for violating oil sanctions on Tehran by selling millions of dollars' worth of Iranian petrochemical products to East Asia.

The Japanese yen will likely remain weaker than the key psychological level of 130 per dollar over the next six months as a gap between Japanese and U.S.

Samsung Electronics Co Ltd turned in its best April-June profit since 2018 with an 11% year-on-year rise, as lingering demand for its memory chips from server customers offset lower sales to inflation-hit smartphone makers.

South Korea's Samsung Electronics Co Ltd turned in its best April-June profit since 2018 on Thursday, underpinned by strong sales of memory chips to server customers even as demand from inflation-hit smartphone makers cools.

Vanguard Group, the largest mutual fund company, on Wednesday reached a $6.25 million settlement to resolve regulatory charges it failed to warn many fund investors that they would face surprisingly big tax bills.

MI5, FBI chiefs warn over China in rare joint address

Apple devices getting beefed-up defense against spyware

DR Congo and Rwanda agree to 'de-escalate' tensions

Air Canada said on Wednesday it will not allow animals in the baggage hold until Sept.

Air Canada said on Wednesday it will not allow animals in the baggage hold until Sept.

Argentina's new economy chief, Silvina Batakis, told IMF officials that she supports the objectives of a $44 billion International Monetary Fund program and will work constructively with the global lender, IMF Managing Director Kristalina Georgieva said on Wednesday.

The head of the International Monetary Fund (IMF) on Wednesday said the outlook for the global economy had "darkened significantly" since April and she could not rule out a possible global recession next year given the elevated risks.

US central bankers last month flagged the concern that sky-high inflation could become a permanent fixture, and stressed their readiness to continue raising interest rates to tamp down price pressures, according to the minutes of the latest policy meeting released Wednesday.

U.S.-based money transfer firm Western Union Co, announced an agreement Wednesday with South American e-commerce giant MercadoLibre to send digital remittances to Mexico, which have become a lifeline for the weakened local economy.

A deteriorating inflation situation and concern about lost faith in the Federal Reserve's power to make it better prompted U.S.

A deteriorating inflation situation and concern about lost faith in the Federal Reserve's power to make it better prompted U.S.

A deteriorating inflation situation and concern about lost faith in the Federal Reserve's power to make it better prompted U.S.

Spain eyes vibrant summer after 'dazzling' visitor surge

Walmart's InHome Delivery Service delivers groceries direct to a customer's refrigerator without any added fees or tips required.

Netflix Inc said on Wednesday it is developing a spin-off of science fiction series "Stranger Things" as the streaming service works to build its biggest English-language hit into a broad entertainment franchise.

The United States on Wednesday imposed sanctions on a network of Chinese, Emirati and other companies that it accused of helping to deliver and sell Iranian petroleum and petrochemical products to East Asia, pressuring Tehran as it seeks to revive the 2015 Iran nuclear deal.