Month: January 2023

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — European shares retreated Monday after a mixed session in Asia as attention turned to Wednesday’s decision by the Federal Reserve on interest rates. A report Friday showed that U.S. inflation is continuing to cool, raising hopes for a smaller increase that’s less painful than last year’s

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — World Bank economists say Myanmar’s economy grew 3% last year and will likely achieve the same pace in 2023, but still lags far behind where it stood before the army seized power in early 2021. The global lending agency issued a report Monday that estimates Myanmar’s

THE HAGUE, Netherlands (AP) — Dutch consumer electronics and medical equipment maker Philips said Monday it is cutting 6,000 jobs worldwide over the next two years as it revealed a net loss of 1.6 billion euros ($1.7 billion) in 2022, down from a net profit of 3.3 billion euros last year. The job losses come

By DAVID McHUGH AP Business Writer FRANKFURT, Germany (AP) — Europe is taking another big step toward cutting its energy ties with Russia, banning imports of diesel fuel and other products made from crude oil in Russian refineries. The European Union ban takes effect Feb. 5 following its embargo on coal and most oil from

By KRUTIKA PATHI Associated Press NEW DELHI, India (AP) — India’s Adani Group, run by Asia’s richest man, has hit back at a report from U.S.-based short-seller Hindenburg Research, calling it “malicious”, “baseless” and full of “selective misinformation.” Shares in the conglomerate have suffered massive losses since Hindenburg issued its report alleging fraud and other

By ILAN BEN ZION Associated Press JERUSALEM (AP) — On Idit Silman’s first day as Israel’s new environmental protection minister, she handed out soft drinks in disposable plastic cups to hospital patients. The gesture held deep symbolic meaning in Israel, where soft drinks and single-use cups, plates and cutlery have become weapons in a culture

By JUSTIN KABUMBA and SAM MEDNICK Associated Press GOMA, Congo (AP) — It took years for Marie Louise Wambale to re-establish her life after fighting between M23 and the Congolese army forced her to flee with almost nothing more than a decade ago. Like most Catholics here in eastern Congo, she hoped that Pope Francis

By EVELYNE MUSAMBI Associated Press NAIROBI, Kenya (AP) — Vultures scavenge for dead animals along a river turned sewer conduit in Kenya’s capital Nairobi. Its waters turn from clear to black as it traverses informal settlements and industrial hubs. The river and its tributaries cross Kibera, known as Africa’s largest slum with close to 200,000

By YURI KAGEYAMA AP Business Writer TOKYO (AP) — Nissan and Renault have changed their mutual cross-shareholdings equal at 15%, ironing out a source of conflict in the Japan-French auto alliance, both sides said Monday. Up to now, Renault Group has held a 43.4% stake in Nissan Motor Co., potentially giving it a larger say

WELLINGTON, New Zealand (AP) — A dangerous amount of rain is forecast for New Zealand’s most populous city four days after Auckland had its wettest day on record in a storm that claimed four lives. A volume of rain that would typically fall over an entire summer hit in a single day Friday. At least