Economy
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Some stability returns as stocks rise after collapse but yen remains weak
Stocks rose again Wednesday as some stability returned after a volatile start to the week, while the yen weakened further…
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Maersk sees profits slide after months of Red Sea attacks by Yemen’s Houthis
Danish shipping giant Maersk posted Wednesday a 45-percent fall in net profit in the second quarter, as supply chain disruptions…
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Egypt asks its airlines to avoid Iran airspace for three hours on Thursday
Egypt instructed all of its airlines to avoid Iranian air space for a three-hour period in the early morning on…
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Air France and Transavia extend Beirut flight suspension
Air France said Tuesday that its flights and that of its low-cost subsidiary Transavia to Beirut will be suspended through…
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Italy’s ITA Airways extends suspension of Tel Aviv flights
Italy’s ITA Airways has extended a suspension of its flights to and from Tel Aviv until Aug. 8 “due to…
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US Federal Reserve under pressure to cut rates as market turmoil continues
The ongoing global stock sell-off has fueled calls for the US Federal Reserve to lower interest rates swiftly and decisively,…
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US to award SK Hynix up to $450 mln for US chips packaging facility
The US Commerce Department said on Tuesday it plans to award SK Hynix up to $450 million in grants to…
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Saudi Aramco Q2 profit drops 3.4 percent on lower volumes, refining margins
Oil giant Saudi Aramco on Tuesday reported a 3.4 percent fall in second-quarter profit on lower crude volumes and softer…
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Buy, sell or hold? Experts weigh in on Dubai’s red-hot property market
With Dubai’s booming property markets showing no sign of slowing down in 2024, homeowners across the emirate are facing a…
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Iraq says it rejects ‘reckless’ action targeting its bases and coalition outposts
Iraq said on Tuesday it rejects all “reckless” actions that target Iraqi bases, diplomatic missions, and US-led coalition outposts. On…
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