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Adani Group says it lost nearly $55 bn as US charges sparked rout
Adani Group says it lost nearly $55 bn as US charges sparked rout
Economy
by  AFP

India's Adani Group conglomerate said Wednesday it had lost almost $55 billion in a stock market rout since US prosecutors last week accused its founder and other officials of fraud. The conglomerate saw $150 billion wiped from its market value in 2023 after a report by short-seller Hindenburg Research accused it of "brazen" corporate fraud.

To tackle plastic scourge, Philippines makes companies pay
To tackle plastic scourge, Philippines makes companies pay
Economy
by  AFP

Long one of the world's top sources of ocean plastic, the Philippines is hoping new legislation requiring big companies to pay for waste solutions will help clean up its act. She then sells them at a 25 percent mark-up to charity Friends of Hope, which works with PCX Solutions to process them.

German family winery taps into zero-alcohol trend
German family winery taps into zero-alcohol trend
Economy
by  AFP

Alcohol-free drinks are becoming ever more popular, especially with health-conscious younger people -- a trend cheered by a small German winery based in a Rhine Valley castle. From its base in a small castle set amid vine-covered hills, the business has been making alcohol-free wine ever since, and three decades ago stopped producing alcoholic varieties altogether.

Asian markets mixed as traders eye fresh trade tensions
Asian markets mixed as traders eye fresh trade tensions
Economy
by  AFP

Asian markets were mixed Wednesday as traders tried to gauge the economic outlook after Donald Trump picked a tough-negotiating hawk as his trade envoy the day after saying he would hit China, Canada and Mexico with hefty tariffs. Traders are keenly awaiting the release later Wednesday of the Fed's preferred gauge of inflation as well as figures on jobless claims and economic growth.