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By Alexis Hontang with Suy Se in Siem Reap BANGKOK, Dec 6, 2023 (AFP) – Major airport expansion projects are taking off across Thailand, Cambodia and Vietnam, and a new airline is set to launch next year — all banking on an expected boom in air travel in Southeast Asia, fuelled by Chinese and Indian tourists. But there are doubts about whether it will materialise in an uncertain economic environment and as worries about the […]
BRUSSELS, Dec 5, 2023 (AFP) – European Union member states won’t tolerate their growing trade imbalance with China forever, EU chief Ursula von der Leyen warned Tuesday, ahead of a key summit. “We have tools to protect our market,” von der Leyen told an AFP reporter in an interview for the European Newsroom, while adding: “But we prefer to have negotiated solutions.” Von der Leyen, the president of the European Commission, and Charles Michel, who […]
Bitcoin on Monday rose past $40,000 for the first time since May last year, boosted by hopes that the United States will soon allow broader trading of the world’s biggest cryptocurrency. The digital asset has skyrocketed this year, gaining nearly 150 percent, with expectations growing that US regulators will allow the creation of exchange-traded funds (ETFs). These would track the price of bitcoin and allow the public to invest in the currency without directly purchasing […]
Music streaming giant Spotify said Monday it will reduce the number of its employees by around 17% in a bid to cut costs amid “dramatically” slower economic growth. Spotify in October posted a rare quarterly operating profit of 32 million euros, compared to a loss of 228 million for the same period a year earlier, on the back of 26% growth in active users for the third quarter. “I realise that for many, a reduction […]
SAN FRANCISCO, Dec 4, 2023 (AFP) – Alaska Airlines announced Sunday that it would buy Hawaiian Airlines for $1.9 billion, consolidating its position as the nation’s fifth biggest carrier if it can attain regulatory approval. Both brands will continue to exist under the terms of the agreement, which could take up to 18 months to finalize, according to a joint press release. The combined airlines would have a fleet of 365 narrow and widebody aircraft, […]
SAN FRANCISCO, Dec 2, 2023 (AFP) – US Commerce Secretary Gina Raimondo on Saturday urged lawmakers, Silicon Valley and US allies to stop China from getting semiconductors and cutting-edge technologies key to national security. Speaking at an annual national defense forum in Simi Valley, California, Raimondo called Beijing “the biggest threat we’ve ever had” and stressed “China is not our friend.” The world’s top two economies are locked in a fierce commercial and geopolitical rivalry, […]
MANILA, Dec 1, 2023 (AFP) – The Philippines will block access to cryptocurrency giant Binance, an official said Thursday, as part of a crackdown on online trading platforms operating in the country without licences. The Securities and Exchange Commission (SEC) announced Tuesday that Binance was not registered in the Philippines and therefore not authorised to sell or offer securities in the country. Filipinos could withdraw their investments before access to Binance’s platform and apps was […]
DUBAI, Dec 1, 2023 (AFP) – The World Bank will “operate” an ambitious new climate change fund, but donors and recipients will likely control how the money is actually spent, the head of the development lender said Friday. More than $400 million has been pledged initially to the new “loss and damage” fund for countries impacted by climate change since it was approved by nations attending the UN’s COP 28 climate summit in Dubai on […]
YANGON, Myanmar, Dec 1, 2023 (AFP) – Ethnic minority fighters clashed with Myanmar’s military on a major trade route to Thailand on Friday, blocking traffic and sending people fleeing, residents and local media said. Fighters from the Karen National Union (KNU) fought with the military at dawn in the town of Kawkareik in eastern Karen state, according to local media reports. The town sits on the Asia Highway that links the trade hub of […]
PARIS, Nov 30, 2023 (AFP) – Zurich and Singapore are the most expensive cities in the world ahead of New York amid the ever-rising cost of living, according to rankings published Thursday by The Economist magazine. The British weekly estimated that prices have increased an average of 7.4 percent over the past year in 173 major cities, a slight slowdown compared to a record 8.1 percent inflation in 2022. “The cost of living crisis is […]
NEW YORK, Nov 30, 2023 (AFP) – Data showing lower inflation in the United States and Europe lifted stocks Thursday, with the dollar advancing as traders bet on faster ECB interest rate cuts following the surprisingly big drop in European prices. A key pricing measure used by the US Federal Reserve to set interest rates eased further last month amid a drop in energy prices, according to government data published on Thursday. The annual personal […]
LONDON, Nov 29, 2023 (AFP) – Uber is to roll out its service to London black cabs next year, it announced Wednesday, despite long-running friction between drivers of the traditional taxis and the US-based firm. “The move opens up the Uber app to the iconic hackney carriage — much-loved by tourists and Londoners alike and an historic part of the capital’s transport network,” the San Francisco-based company said in a statement. Currently, black cabs are […]
