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- BusinessAFP News
Yen drops, Asian markets mixed as Japan hikes interest rates
The yen weakened and Tokyo stocks rose Tuesday after the Bank of Japan hiked interest rates for the first time in 17 years as it shifted away from its long-running ultra-loose monetary policy.While the moves were a major change from a long-running policy, traders took them in their stride, with Japanese stocks rising and yen down against the dollar owing to fading expectations for US rate cuts this year.
3-min read - BusinessAFP News
Bank of Japan scraps negative interest rate
Japan's central bank on Tuesday scrapped its negative interest rate as it finally began unwinding one of the world's most aggressive monetary easing programmes.Because negative interest rates mean banks lose out by parking capital with the BoJ, the policy was aimed at encouraging them to lend to businesses and thereby jump-start the economy and inflation.
2-min read - NewsReuters
Bangladesh, Pakistan and India bottom in air quality rankings in 2023, data shows
Pakistan remained one of the world's three smoggiest countries in 2023, as Bangladesh and India replaced Chad and Iran, with particulate matter about 15 times the level recommended by the World Health Organization, data published on Tuesday showed. Average concentrations of PM2.5 - small airborne particles that damage the lungs - reached 79.9 micrograms per cubic metre in Bangladesh in 2023, and 73.7 micrograms in Pakistan. "Because of the climate conditions and the geography (in South Asia),
2-min read - PoliticsAFP News
Trump unable to post $464mn bond in New York civil case: lawyers
Donald Trump faced having assets seized in a humiliating blow to his carefully cultivated image as a self-made tycoon as his lawyers acknowledged Monday he doesn't have the cash to appeal a $464 million fine for fraudulently inflating his wealth."Defendants have faced what have proven to be insurmountable difficulties in obtaining an appeal bond for the full $464 million," Trump Organization general counsel Alan Garten said in a filing to the court.
3-min read - NewsAFP News
N. Korea's Kim oversees 'super-large' rocket launcher drills
North Korean leader Kim Jong Un oversaw firing drills involving "newly-equipped super-large" multiple rocket launchers, state media said Tuesday, a day after Seoul said Pyongyang had fired several short-range ballistic missiles.The super-large multiple rocket launcher, referred to as KN-25 by the Seoul-Washington military, is a short-range ballistic missile, according to South Korea's Yonhap news agency.
3-min read - BusinessReuters
Nvidia supplier SK Hynix begins mass production of next generation memory chip
SK Hynix Inc said on Tuesday it has begun mass production of next-generation high-bandwidth memory (HBM) chips used in artificial intelligence chipsets, with sources saying initial shipments will go to Nvidia this month. Last month, Micron Technology said it had started mass production of the chips while Samsung Electronics said it had developed the industry's first 12-stack HBM3E chips. SK Hynix has, however, led the HBM chip market by virtue of being the sole supplier of the version currentl
2-min read - NewsAFP News
Biden summons Israeli team in bid to avoid Rafah assault
US President Joe Biden said Monday he had told Israeli Prime Minister Benjamin Netanyahu to send a team to Washington to discuss how to avoid an all-out assault in the southern Gaza city of Rafah."I asked the Prime Minister to send a team to Washington to discuss ways to target Hamas without a major ground operation in Rafah," Biden said on X after speaking to Netanyahu for the first time in more than a month.
3-min read