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Eurozone inflation falls sharply to 6.9% in March
Inflation in the eurozone slowed more sharply than expected in March but food prices jumped even as energy costs eased, official data showed Friday. According to other Eurostat data published Friday, the unemployment rate in the eurozone remained stable in February at 6.6 percent. raz/del/lth
Huawei reports huge drop in profits as US sanctions bite
Huawei's profits fell almost 69 percent last year, the company said Friday, as US sanctions and international economic uncertainty bit into the Chinese tech giant's earnings. The company generated 35.6 billion yuan ($5.2 billion) in net profit in 2022, it said, down 68.7 percent from a record 113.7 billion last year.
Pirates kidnap some crew from Danish ship in Gulf of Guinea
Pirates who seized a Danish oil tanker off Congo last week have abandoned the ship and taken some crew members with them, while the rest were found in good health, the ship's owner said Friday. By the time the ship was located, "the pirates had abandoned the vessel and brought a part of the crew members with them," Monjasa said in a statement.
Why is India so thirsty for Russian oil?
India is snapping up discounted crude from Russia, refining it and selling it, becoming a key supplier to Europe as it reshapes global fuel flows more than a year into Moscow's war in Ukraine.
China manufacturing slows in March, services growth hits 12-yr high
China's manufacturing activity slowed in March, official figures showed Friday, while growth in the services and construction sectors surged to a 12-year high. The official non-manufacturing PMI, which measures growth in the services and construction sectors, rose to 58.2 in March -- the highest since May 2011 -- and up from 56.3 in February.
Japan unveils export control plans for chip equipment
Japan on Friday unveiled plans to control exports of 23 items used to make semiconductors, following US pressure for countries to impose restrictions to contain China. Japan had been expected to take similar steps with its ally Washington also reportedly urging the country to impose controls.
Big E3 videogame expo in US is canceled
Sponsors of E3, a long-running videogame trade show, pulled the plug on its 2023 gathering, announcing on the event's website Thursday they will "reevaluate" the future of the expo. "Show organizer ReedPop announces E3 2023 will not take place as scheduled this June, with both physical and digital events canceled," the show website said.
UK claims post-Brexit win by sealing trans-Pacific trade pact membership
The UK will join 11 other countries in a major Asia-Pacific trade partnership, Prime Minister Rishi Sunak announced Friday, in the country's biggest post-Brexit trade deal following nearly two years of talks. "We are at our heart an open and free-trading nation, and this deal demonstrates the real economic benefits of our post-Brexit freedoms," Sunak said in a statement announcing the deal.
China's JD to spin-off two units, list in Hong Kong
E-commerce giant JD.com will spin off its industrial and property units and take both of them public, the company said, in the latest reorganisation of a major Chinese tech firm. The company said in filings with the Hong Kong stock exchange Thursday that its property and industrial arms will be spun-off and taken public, though the parent company will retain a controlling stake in both.
AFP
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