Browsing: Business
On Wednesday, the Dow Jones Industrial Average recorded its biggest plunge since 2020 after another prominent retail company warned of escalating prices, reinforcing investors’ apprehensions about future inflation, and triggering the catastrophic 2022 sell-off. The Dow lost 1,164.52 points, or
A United Nations report accuses Lebanon’s central bank and the banking sector of human rights violations as a result of their alleged role in one of the world’s worst economic and financial crises. A UN report criticizing Lebanon’s government singled
Before finalizing his agreement to buy Twitter, Elon Musk wants to know more details about the number of fake accounts on the social media platform. He said that he wants more details about how many Twitter accounts are fake or
Bitcoin fell below $27,000 for the first time in over 16 months on Thursday. This was amid concerns about rising inflation and the collapse of a controversial stablecoin project. According to Bitstamp data, Bitcoin sank as low as $26,595.52 Thursday
The UN Food and Agricultural Organization (FAO) reports that world food prices decreased at the end of April after reaching an all-time high in March amid the conflict in Ukraine. In April, the FAO Food Price Index was 158.2 points,
After a sudden 8% decline in Swedish stocks, Citigroup Inc. said its London trading desk caused a flash crash in Europe that sent shares across the continent tumbling. A trader at the New York-based bank made an error when entering
A survey released on Saturday showed that the manufacturing sector in China fell to a six-month slump in April due to lockdowns that were carried out in Shanghai and other manufacturing hubs in the wake of COVID-19 outbreaks that were
The US stock market plummeted on Friday, with the Nasdaq marking its worst month since October 2008 and the S&P notching its worst month since March 2020 at the onset of the Covid pandemic. The tech-heavy Nasdaq fell 4.2%, dragged
The annual inflation rate in Lebanon is the highest in the world according to recently announced Bloomberg data. As the financial meltdown in the Middle East nation worsens, Lebanon’s inflation rate has risen to the highest of all the countries
Arab Monetary Fund (AMF) and African Export-Import Bank (Afreximbank) signed a Memorandum of Understanding (MoU) to set the groundwork for cooperation and interoperability between Buna, the cross-border and multi-currency payment system owned by the AMF, and the Pan-African Payment and