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UAE oil giant ADNOC swoops on German chemicals firm Covestro
German chemicals group Covestro said Tuesday it had accepted a takeover bid from UAE state energy company ADNOC, as one of the key sectors in Europe's largest economy is gripped by crisis. - Chemicals crisis - ADNOC's bid for Covestro comes while the challenges facing the Germany's energy-intensive chemicals industry show no signs of abating.
Eurozone inflation falls under 2% for first time since 2021
The eurozone's annual inflation rate fell to its lowest level in three-and-a-half years in September, official data showed Tuesday, dropping below the European Central Bank's two-percent target and fuelling expectations of a rate cut. The slowdown in inflation comes after energy prices fell sharply by 6.0 percent in September, compared with a drop of 3.0 percent in August, Eurostat data showed.
Droughts drive Spanish boom in pistachio farming
Two decades ago, Miguel Angel Garcia harvested grapes and grains on his farm in central Spain, like his father and grandfather before him. Garcia harvests 10 to 20 tonnes of the green nut each year at his 26-hectare (64-acres) farm in Manzanares in the central region of Castilla-La Mancha, part of a boom in pistachio production in Spain.
Locals toil as experts toast Turkish wine renaissance
As the evening light falls on her vineyards in northwestern Turkey, Zeynep Arca Salliel pinches the grapes and tastes the skin. "Alas, we remain a well-kept secret," says Salliel.
Kenya airport whistleblower fears for his life
Nelson Amenya caused an uproar by exposing secret talks for an Indian firm to take over Kenya's main airport. The Adani Group did not respond to a request for comment from AFP. Amenya believes the airport deal would not have been made public until it was already signed, had he not exposed it first.
Tokyo recovers some losses as most Asian markets rise
Tokyo stocks rose Tuesday, recovering some of the losses suffered in the previous day's rout, as the yen weakened against the dollar, while most other Asian markets started the day on a positive note following another record on Wall Street. All three main indexes on Wall Street rose, with the Dow chalking up another record, and most of Asia followed suit.
Qatar Airways seeking 25% stake in Virgin Australia
Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal that could shake up Australia's Qantas-dominated market. That could significantly shake up Australia's air travel market which is currently dominated by Qantas, a pseudo-flag carrier beset by allegations of price gouging and deliberate overbooking.
US port officials gird for strike as labor talks stay stuck
Officials at 14 ports along the US East and Gulf coasts were making last-minute preparations on Monday for a likely labor strike that could drag on the US economy just ahead of a presidential election. - At Monday's news conference, New York officials emphasized that they have been preparing for a likely US dockworkers strike.
US Fed Chair sees 'further disinflation' in economy
The United States is set to see inflation cool further towards policymakers' target, Federal Reserve chair Jerome Powell said Monday, with interest rates likely to come down over time, too. Powell's speech comes more than a week after the Federal Reserve slashed interest rates by half a percentage point, marking its first reduction since 2020.
AFP
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