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Can an ambitious Milei make Argentina an AI giant?
Can an ambitious Milei make Argentina an AI giant?
by  AFP

Argentina's President Javier Milei has plans to turn his country, which has one of the lowest rates of artificial intelligence (AI) use on the continent, into a world leader in the field.

US Fed dissenter calls for 'measured' pace of rate cuts
US Fed dissenter calls for 'measured' pace of rate cuts
by  AFP

The sole holdout in the US Federal Reserve's 11-to-1 vote cementing a larger interest rate cut said Friday that the move "could be interpreted as a premature declaration of victory." "I see the risk that the Committee's larger policy action could be interpreted as a premature declaration of victory on our price stability mandate," Bowman said.

Central banks face 'difficult balancing act': IMF chief
Central banks face 'difficult balancing act': IMF chief
by  AFP

Central banks face a "difficult balancing act" as they start lowering interest rates around the world in the face of falling inflation, the head of the IMF said Friday. "Central banks face a difficult balancing act," Georgieva said.

US nuclear plant Three Mile Island to reopen to power Microsoft
US nuclear plant Three Mile Island to reopen to power Microsoft
by  AFP

Three Mile Island, the site of America's worst nuclear accident, will restart operations to provide power to Microsoft, Constellation Energy announced Friday. Constellation Energy expects the Three Mile Island reactor to go back online in 2028.

UK economic data delivers fresh blow to new govt
UK economic data delivers fresh blow to new govt
by  AFP

UK state debt is as big as the country's economic output for the first time since the 1960s, data showed Friday, as the new government warns of tough fiscal decisions before its maiden budget. - 'Tough decisions' - Friday's data also showed "the highest August borrowing on record, outside the (Covid) pandemic", Darren Jones, a senior official at the UK Treasury, said in a statement.

Bank of Japan leaves key interest rate unchanged
Bank of Japan leaves key interest rate unchanged
by  AFP

The Bank of Japan left interest rates unchanged on Friday, after a decision to hike them in July pushed the yen sharply higher and fuelled turmoil across world markets. Japanese central bank officials said borrowing costs would be left at 0.25 percent, a policy decision widely predicted after the fallout from the previous hike.

Asian markets track Wall Street record to extend global rally
Asian markets track Wall Street record to extend global rally
by  AFP

Asian markets built Friday on the latest global rally after a jumbo US interest rate cut, while the yen edged up as focus turns to the Bank of Japan policy decision later in the day. With the Fed now out the way, attention turns to the Bank of Japan as it winds up its own policy meeting.