AFP
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Turkey hikes interest rates but disappoints markets
Turkey's central bank hiked its main interest rate for the second month in a row on Thursday but analysts said the unwinding of President Recep Tayyip Erdogan's unconventional policy was too timid to tame inflation. But the two hikes have disappointed analysts. who had forecast a five-point hike for Thursday.
'No way out': Ukraine farmers lament collapse of grain deal
Vitaliy Bylenko looked ruefully at the mountains of grain in his barn, contemplating the growing obstacles to shifting the stockpiles after Russia this week exited a deal allowing Black Sea exports. Ukraine officials accused Russia of obstructing the deal in recent months, and Bylenko said so few ships were arriving at Ukrainian ports to export grain he was already using alternate routes.
Chip giant AMD says AI to be 'mega-trend' for computing world
AI will be the "defining mega-trend" for the global computing industry, the head of chip giant AMD said Thursday in Taiwan, where the majority of the world's semiconductors powering the technology is produced. As a chip design foundry, AMD outsources the production of their microchip designs to Taiwan Semiconductor Manufacturing Company (TSMC), which is headquartered in Hsinchu.
EasyJet says to land record profits despite disruption
British airline EasyJet on Thursday said it expected record pre-tax profits during the current peak summer season despite strike action by air traffic controllers and other disruptions. EasyJet, which flies mainly throughout Europe, recently cancelled about 1,700 flights for the summer season owing to air traffic control disruption.
Deals on wheels: Housing prices drive young Chinese into RV living
With its open kitchen, bathtub and electric piano, Chinese e-commerce worker Twiggy He's home is the envy of her colleagues -- even if it is located in their office carpark. The walls of office worker Li Conghui's homey white van are lined with bunk beds, and drawings and photographs of his children, who live with their mother in a different city.
Chinese ghost town of mansions reclaimed by farmers
Cattle wander between the concrete shells of half-finished mansions in northeastern China, some of the only occupants of a luxury complex whose crumbling verandas and overgrown arches are stark symbols of a housing market crippled by its own excess.
Young homebuyers take refuge in China's rust-belt towns
Fontana Fang has dived into China's cutthroat real estate market and emerged victorious, shaking off soaring prices to snap up a handsome property for next to nothing -- a distant dream for many. Fang, 29, is part of a wave of young Chinese choosing to invest in dirt-cheap real estate in declining and remote industrial regions, ditching China's modern, expensive metropolises.
Chinese mortgage strikers despair as unfinished homes stay stalled
Gao Zhuang says he has refused to pay his mortgage for months, a desperate protest against the Chinese property developer he blames for endless delays on the unfinished apartment he bought years ago for his son. But the developer announced delay after delay, and construction work ground to a virtual halt late last year.
Markets mostly rise on rate hopes but China fears weigh
Markets mostly rose Thursday on signs that more than a year of interest rate hikes around the world was subduing inflation, giving central banks room to take a softer approach to monetary policy.
AFP
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