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Featured

KKR secures Indian regulator approval for Gentari Renewables investment

New Delhi Global investment major KKR has received the competition watchdog CCI's approval to acquire a stake in Gentari Renewables India, a clean energy platform of Malaysia's energy giant PETRONAS. KKR is making the investment through its affiliate Sapphire US HoldCo (USA), LLC, which will subscribe to certain securities of Gentari Renewables India Pte Ltd, the Competition Commission of India (CCI) said on Tuesday.

Equitas Small Finance Bank rebounds after naming interim chief executive

Following a 19 per cent rout in four days, shares of Equitas Small Finance Bank (Equitas SFB) bounced back on Wednesday after the lender named Balaji Nuthalapadi as the interim CEO, subject to the central bank's approval. The bank, on November 3, said it would its Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, has approved the appointment of Balaji Nuthalapadi, who is currently serving as a Whole-Time Director (Executive Director), as its interim CEO, subject to the ap

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Ethiopians mourn the destruction of historic Piassa district

"Our history and our identity have been erased," laments Samira after the destruction of her birthplace in the historic Piassa district in the heart of Ethiopia's capital.

Stocks mixed after selloff as Fed, Middle East dampen sentiment

Asian markets were mixed Wednesday as Federal Reserve boss Jerome Powell's indication that interest rates could stay higher for longer offset a rebound following the latest bout of Middle East-fuelled selling.

Stocks mixed after latest selloff as Fed, Middle East dampen sentiment

ASML profits down amid China chip spat

Dutch tech giant ASML, which supplies chip-making machines to the semiconductor industry, on Wednesday reported a drop in net profits and orders amid a high-tech trade spat between China and the West.

ASML profits, bookings down amid China chip spat

Apple CEO meets Indonesia leader to talk investments

Apple chief executive Tim Cook met Indonesia's president on Wednesday, as the tech giant explores ways to invest in Southeast Asia's biggest economy and diversify supply chains away from China.

Seoul, Tokyo vow 'appropriate action' on weak yen and won

South Korea and Japan shared "serious concerns" on the recent weakness of their currencies against the dollar and agreed to take "appropriate actions" to counter extreme volatility, the finance ministry in Seoul said Wednesday.

'GTA' video game publisher Take-Two cuts workforce

Take-Two Interactive on Tuesday told US regulators it is trimming its workforce by five percent and eliminating some video games in production to cut costs.

Tennessee VW workers hold key unionization vote

Volkswagen employees in Tennessee will begin casting ballots Wednesday in a vote that could make theirs the first foreign carmaker to unionize in the American South, expanding gains made by organized labor in the auto heartland of Detroit.

US says new sanctions on Iran coming soon

The United States said Tuesday it would soon impose new sanctions on Iran's missile and drone program after its weekend attack on Israel, and that it expects its allies and partners to follow with parallel measures.

Tech venture capital titan Andreessen Horowitz raises $7.2 bn

Silicon Valley venture capital star Andreessen Horowitz said Tuesday it had raised $7.2 billion to invest in startups behind games, apps, artificial intelligence and more.

'We are not Fed-dependent,' ECB chief says on rate cuts

European Central Bank president Christine Lagarde suggested Tuesday that the regulator could lower interest rates before a similar move by the US Federal Reserve, saying "we are not Fed-dependent."

Bill to phase out smoking advances in UK parliament

A contentious bill that aims to eventually phase out smoking in Britain advanced in parliament on Tuesday, as the House of Commons voted in favour of the controversial measure.

Dubai airport diverts flights as 'exceptional weather' hits Gulf

Dubai's major international airport diverted scores of incoming flights on Tuesday as heavy rains lashed the United Arab Emirates, causing widespread flooding around the desert country.

US Fed's Powell says inflation fight may take 'longer than expected'

The US Federal Reserve's ongoing fight against inflation could take "longer than expected," the head of the US central bank said Tuesday, further paring back the chances of early rate cuts.

Yellen says US set to tighten sanctions on Iran soon

US Treasury Secretary Janet Yellen warned Tuesday of further sanctions targeting Iran following its unprecedented attack on Israel over the weekend, saying she expects Washington will take added action "in the coming days."

Behind the growth, Ivory Coast's debt fuels debate

Abidjan's soaring Alassane Ouattara bridge lit up at night in the colours of the national flag is Ivory Coast's jewel in the crown after years of investment.

Drought-hit Colombia halts export of electricity to Ecuador

Colombia has halted electricity exports to neighboring Ecuador as its hydropower plants reach near-critical levels due to a biting drought, the government said late Monday.

Global ocean summit nets $10 bn in pledges: Greek PM

An international summit on saving the oceans netted $10 billion in pledges, the prime minister of host country Greece said on Tuesday.

IMF ups global growth forecast but signals medium-term pessimism

The IMF has raised its outlook for the global economy this year, while maintaining a gloomy forecast over the medium term, according to fresh data published Tuesday.

Biopic series of French first lady in the works

Brigitte Macron's "fairytale journey" from schoolteacher to first lady is to be recounted in a French TV series, the producers said Tuesday.

Shareholders approve pay package of Stellantis CEO

Stellantis shareholders on Tuesday approved a controversial 36.5-million-euro ($38.75 million) pay package for chief executive Carlos Tavares.

Spain's tourism revenue seen hitting new record in 2024

Spain's tourism sector is expected to post record revenues again in 2024, the Exceltur tourism association said Tuesday, adding it was concerned at growing anger in the country against overtourism.

Mideast-related oil price spike threatens 'relatively good' economic outlook: IMF chief economist

The recent oil price spike fueled by rising Middle East tensions has the potential to derail the IMF's "relatively good" outlook for the world economy, its chief economist told AFP.

Milan design fair opens with sustainability and David Lynch

One of the world's leading design events, the Salone del Mobile, opened in Milan on Tuesday, marked by sustainability, craftsmanship and two "thinking rooms" from David Lynch.

Global equities extend selloff on Iran-Israel conflict fears

Asian and European stock markets sank Tuesday after Israel's army chief vowed a response to Iran's attack on his country, with sentiment also dented by diminishing US interest-rate cut hopes and mixed earnings.

Meta 'supreme court' takes on cases of deepfake porn

Meta's oversight board said Tuesday it is scrutinizing the social media titan's deepfake porn policies, through the lens of two cases.

UK parliament to debate law phasing out smoking

The UK parliament will on Tuesday kick off its first debate on Prime Minister Rishi Sunak's planned legislation to prevent young people from ever smoking, despite opposition from many in his own Conservative Party.

Stellantis boss Tavares defends pay rise ahead of shareholders' vote

Stellantis chief executive Carlos Tavares has defended his 36.5 million euro ($38.75 million) pay package ahead of a vote Tuesday by the car giant's shareholders.

Free Willie: Amsterdam naked gay bar tackles intolerance

In an Amsterdam bar, six men cluster around the pool table arguing good-naturedly about how to rack the balls. Everyone is stark naked from the ankle up: welcome to Free Willie.

Chinese economy beats growth expectations in first quarter

China's economy grew far more than expected in the first quarter of 2024, data showed Tuesday, even as it is buffeted by a property-sector crisis and flagging consumer spending.

Australia's Great Barrier Reef struggles to survive

Australia's famed Great Barrier Reef is suffering one of the most severe coral bleaching events on record, leaving scientists fearful for its survival as the impact of climate change worsens.

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Arizona Tribune - Economy (English)