Economy

Economy Latest News

Dollar weakens further as rate cut bets build, but equities mixed
Dollar weakens further as rate cut bets build, but equities mixed
by  AFP

The dollar extended losses Wednesday as traders ramped up bets on the Federal Reserve cutting interest rates in the new year after officials sounded optimistic notes on the battle against inflation. The more dovish comments, combined with falling yields and rate expectations has dragged on the dollar, and it extended losses Wednesday.

Charlie Munger, Warren Buffett's longtime business partner, dies at 99
Charlie Munger, Warren Buffett's longtime business partner, dies at 99
by  AFP

Charlie Munger, the longtime friend and business partner of famed US investor Warren Buffett, died on Tuesday at the age of 99, his employer has confirmed. Berkshire Hathaway, where Munger served for decades as vice chairman under Buffett, announced it was "advised by members of Charlie Munger's family that he peacefully died this morning at a California hospital."

Top Panama court says contested mining contract 'unconstitutional'
Top Panama court says contested mining contract 'unconstitutional'
by  AFP

Panama's Supreme Court on Tuesday declared that a contract allowing a Canadian company to continue operating Central America's biggest copper mine was "unconstitutional." "We have unanimously decided to declare the entire law 406 unconstitutional," said Supreme Court president Maria Eugenia Lopez, referring to the law governing the contract with the Canadian mining firm.

Busan, Riyadh or Rome? 2030 World Expo host to be revealed
Busan, Riyadh or Rome? 2030 World Expo host to be revealed
by  AFP

The host of the 2030 World Expo will be chosen on Tuesday, with Rome in Italy, the Saudi capital Riyadh and South Korea's Busan contending to welcome the showpiece event held every five years. This year's event has been the subject of particularly intense lobbying from Italy, Saudi Arabia and South Korea, whose governments are all keen to have the honour of the 2030 World Expo.