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Tourism buoys southern Europe's 'Club Med' nations
Derided as "Club Med" nations during the European debt crisis 15 years ago, the economies of Spain, Greece and Portugal are now outperforming their northern peers thanks to a rebound in tourism. Darvas said the "convergence" of southerrn European nations with northern ones "is likely to continue" but at a "slower pace".
US Fed likely to remain on pause and pare back rate cut expectations
The US Federal Reserve is likely to keep interest rates unchanged this week, but could pare back the number of cuts it has penciled in for this year, as policymakers digest a mixed bag of economic data. But with the data still painting a mixed picture, he is unlikely to rock the boat too much this week, according to Oxford Economics chief US economist Ryan Sweet.
Virgin Galactic completes final spaceflight before two-year pause
Virgin Galactic on Saturday successfully completed its last spaceflight before heading into a two-year pause on commercial operations to upgrade its fleet, as the space tourism company seeks to finally turn a profit.
Virgin Galactic set for final spaceflight before two-year pause
Virgin Galactic is poised on Saturday for its last spaceflight before heading into a two-year pause on commercial operations to upgrade its fleet, as the company seeks to finally turn a profit. Seat prices will be set at $600,000 and up to 125 flights are projected per year, the company says, hoping to turn around its fortunes.
Aquaculture overtakes wild fisheries for first time: UN report
Aquaculture is playing an increasingly important role in meeting the world's food needs, surpassing wild fisheries in aquatic animal production for the first time, according to a report published Friday. While wild fisheries production has stayed largely unchanged for decades, aquaculture has increased by 6.6 percent since 2020, the report noted.
COP29 climate hosts say they'll keep expanding fossil fuels
The incoming president of the COP29 UN climate summit in Azerbaijan told AFP on Friday that his country would keep increasing fossil fuel production "in parallel" with investments in cleaner alternatives.
BYD says to build second EU factory despite EV slowdown
BYD says to build second EU factory despite EV slowdown
US hiring surges past expectations as job market still strong
US job growth blew past estimates in May while unemployment also edged up, according to government data released Friday, underscoring the labor market's resilience as policymakers seek to cool the economy gradually. Fed policymakers are watching for signs that the economy is cooling.
Ivory Coast bets on solar in clean energy drive
The sun beats down from a cloudless sky on the town of Boundiali, where Ivory Coast's first solar power plant embodies the drive to embrace clean energy without abandoning fossil fuels. Although Ivory Coast has about 10 smaller solar power plants serving villages at a local level, Boundiali is the first on the national grid.
AFP
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