Economy

Economy Latest News

Cyclone death toll rises to four on La Reunion
Cyclone death toll rises to four on La Reunion
by  AFP

At least four people have died in the Indian Ocean island of La Reunion during the passage of a devastating cyclone that sowed destruction across the overseas French territory, officials said on Saturday. On Friday, Cyclone Garance struck the territory of 900,000 people, uprooting trees, tearing off roofs and flooding homes.

Intel slows $28 bn chip factory project in Ohio
Intel slows $28 bn chip factory project in Ohio
by  AFP

Struggling US chip maker Intel on Friday pushed out the timeline for completing two new fabrication plants in Ohio, saying it is taking a prudent approach to the $28 billion project. For the full year 2024, Intel recorded a net loss of $18.8 billion as the US chip giant continues to struggle to stake its place in the artificial intelligence revolution.

Why Mexican manufacturers seem unfazed by threat of Trump tariffs
Why Mexican manufacturers seem unfazed by threat of Trump tariffs
by  AFP

If US President Donald Trump is to be taken at his word, Mexican imports to the United States will be hit with 25-percent tariffs on Tuesday. On Tuesday, the tariffs he announced on all Mexican imports shortly after taking office are due to go into effect, after being suspended for a month.

Nigeria president says end in sight for economic crisis
Nigeria president says end in sight for economic crisis
by  AFP

Nigeria is heading towards the "light at the end of the tunnel" as the country grinds through the second year of a cost-of-living crisis, President Bola Tinubu said Friday. "Today, we see a light at the end of the tunnel."

Italy breaks 'taboo' with push to revive nuclear
Italy breaks 'taboo' with push to revive nuclear
by  AFP

Italy's cabinet opened the door Friday to a return to nuclear power, aiming to overturn nearly 40 years of opposition -- though experts say any revival is at least a decade away. In a 10-year energy and climate plan published last year, Rome said it aims to install enough nuclear capacity by 2050 to generate between 11 percent and 22 percent of the power it uses.