Finance news

U.S. issues sweeping Iran oil sanctions waivers, unlocking billions in revenue for Tehran

The U.S. issued a sweeping rollback of sanctions on Iranian oil, offering Tehran an economic lifeline as negotiations toward a peace deal proceed.

Jan Wachtel: Media boss leaves Burda after just six months

Jan Wachtel was supposed to provide a strategy for “Focus” and “Bunte”. Now he is giving up the position again - according to Handelsblatt information, also because of a dispute over a personnel matter.

Li Qiang’s tech blueprint: turn China’s old industrial hubs into high-value powerhouses

During an inspection of shipbuilding and nuclear power firms in China’s heavy industrial hub in the northeast, Premier Li Qiang pushed state-owned firms to achieve breakthroughs in high-end equipment manufacturing and to bolster the nation’s core industrial competitiveness. “Dalian’s shipbuilding industry boasts a long history and a solid foundation in developing high-end equipment manufacturing,” Li was quoted as saying by Xinhua during his visit to a state-owned shipbuilder in the harbour city

US tops Philippine tourism market, propelled by strong ties, even stronger dollar

The US has overtaken South Korea as the Philippines’ top source of foreign tourists this year, helped by diaspora travel and closer ties between the long-time allies, giving Manila a boost as it tries to close the gap with more popular destinations in Southeast Asia. Figures from the Philippines’ Department of Tourism (DOT) showed that between January and May, 531,859 visitors came from the US, while 501,789 were from South Korea – comprising 19.4 per cent and 18.3 per cent of the total tourism.

Driver, passenger hurt as taxi collides with truck in Hong Kong

A taxi driver and a passenger were injured after the vehicle collided with a truck on Kwun Tong Road in Hong Kong on Tuesday afternoon. Police said the crash occurred at about 12.25pm on the eastbound carriageway of the road, near Ping Shek Estate in Ngau Tau Kok. The taxi was headed towards the public transport interchange in Choi Hung when it struck a medium goods vehicle that was travelling in the third lane, according to preliminary findings. The cab driver, a 27-year-old woman surnamed Yip,

Living in a high-rise: “Frankfurt real estate is too cheap for a billionaire from Malaysia”

Up to 30,000 euros per square meter – Frankfurt’s high-rise market is a world of its own. Realtor Michael Pabst explains who his customers are, what kind of life they are looking for in the tower and why the penthouse is overrated.

Tight budgets: One in five people cannot afford a vacation

A week at the beach or mountains? For many people this remains out of reach. One population group in particular often has to take a step back.

Stock markets: Dax follows Asia correction downwards

The DAX slips back below the 25,000 point mark and thus continues its volatile course. It was only on Monday that he exceeded the mark.

Beer brewer: Heineken gets new boss from coffee company JDE Peet's

The Dutch brewer Heineken will have a new boss from October. The beverage manufacturer is reacting to falling sales figures.

Pension: “We agree”: Coalition wants to implement all of the Pension Commission’s proposals

The statutory pension is to be reformed. A commission has now submitted concrete proposals that Merz and Bas want to adopt in full. It is a “total work of art”.

Statutory pension: Chancellor announces full implementation of pension proposals

A 13-member commission made 33 proposals for a major pension reform. Chancellor Friedrich Merz supports the recommendations 100 percent.

When cells feel something: Körber Prize for amazing findings on cells

Sara Wickström has discovered that body cells react to pressure and that individual genes can be switched on or off. This groundbreaking finding could soon help in the fight against cancer.

Singapore hotel rates skyrocket ahead of sold-out BTS concerts

Hotel bookings in Singapore are surging ahead of K-pop boy band BTS’ highly anticipated concerts in December, with some reporting demand jumping by as much as 50 times. The spike mirrors a broader trend across Asia, where cities on BTS’ tour schedule have recorded significant increases in accommodation searches. Some booking platforms reported search volumes rising by up to 10 times in certain concert destinations like Kaohsiung in Taiwan. All tickets for the Singapore leg of BTS’ Arirang tour..

+++ Ukraine War +++: Fuel crisis in Russia spreads to Siberia

Bombers equipped with rockets complete a test flight over the Barents Sea +++ Russia: There could soon be a prisoner exchange with Ukraine +++ The news blog.

Hong Kong declared Sars-free in 2003 – SCMP archive

This article was first published on June 24, 2003. WHO gives the all-clear by Jimmy Cheung, Chow Chung-yan and Benjamin Wong Hong Kong is ready to spend $1 billion to rebuild its battered image and lure back tourists and businesses after it was officially declared free of Sars by the World Health Organization yesterday (June 23, 2003). Officials said the announcement had given the go-ahead for a campaign aimed at promoting Hong Kong as the best place for visitors and business in Asia. The...

Study: Small business owners cut salaries instead of taking out loans

Almost every second self-employed person in Europe foregoes wages in order to remain independent. What is behind the pride in foregoing loans - and what fears play a role?

Malaysian MP slams Johor crown prince over ‘most Hollywood’ populist label

Malaysian lawmaker Syed Saddiq Syed Abdul Rahman has fired back at Tunku Ismail Ibrahim after the Johor crown prince took a swipe at the former sports minister, describing him as the “most Hollywood” among populist politicians. Tunku Ismail told a podcast show over the weekend that he “liked people who carry out their duties and show full care and concern for the people”. “Before making any decisions, make an assessment first because we have many ‘Hollywood’ types among us. The most ‘Hollywood’.

After 6 prime ministers in 10 years, can anyone fix the UK?

On Monday morning, ⁠Keir Starmer emerged into the sunshine in Downing Street flanked by his staff and ⁠wife, his voice thick with emotion as he said he was no longer the right person to lead Britain. Starmer, who won one of the biggest landslides in British political history, is out after less than two years. The sixth leader to quit in 10 years. The highest rate of political turnover in almost two centuries. Like his predecessors, Starmer failed to stem popular anger over living standards,...

Trump spent a decade making friends in Europe. Now they’re turning away.

From Italy to France, nationalist leaders are reassessing their ties with the U.S. president as his brand sours across the EU. Trump’s brand in Europe has soured — curdled by his tariff wars, threats against Greenland and a war on Iran that increased energy prices. His interventions, once welcomed by his ideological allies, are now seen as political explosives: liable to alienate moderate voters, split nationalist electorates and hand ammunition to their opponents. submitted by /u/Any-Original-6

How Japan seeks to win over allies by refuting China’s militarism claim

Japanese Defence Minister Shinjiro Koizumi’s pushback against China signals a calculated bid to fend off accusations of Tokyo’s “new militarism” by Beijing to ensure that the label does not stick and slow Japan’s security reforms. His comments in recent weeks on separate instances are aimed at shaping the perceptions of Tokyo’s state partners, according to analysts. Speaking in his first published interview with foreign media as defence chief on June 17, Koizumi questioned the accuracy of...

Impending labor shortage: Almost a third of the workforce is likely to be retired

Germany is facing a wave of retirements in the next few years. The Federal Statistical Office warns: “Younger age groups will not be able to replace the baby boomers in numbers.”

Retirement: Retired baby boomers will leave a large gap in the German labor market by 2040

Around 30 percent of all employed people will retire by 2040. At the same time, the Pension Commission is presenting its reform proposals today.

Is China’s risk tolerance reaching its limit with pause of African mine deal?

As China’s relationship with African countries has deepened, the country’s influence is spreading into more areas. In the latest of a series of articles, Dulue Mbachu investigates the extent of Chinese investments in the continent and Beijing’s growing wariness about their security. Chinese regulators balked at Zijin Mining’s planned US$4 billion acquisition of Canadian company Allied Gold, placing it on hold to scrutinise the potential risks. As a result, the agreement for the deal, already...

University start: studying without NC? This is possible with more and more courses

Just a few years ago, 40 percent of all degree programs had admission restrictions. But for more and more offers, the numerus clausus is becoming less important - although not everywhere.

UK Has Enough Electricity for Winter Despite Energy Market Turmoil

The UK will have sufficient electricity supply this winter despite the Strait of Hormuz crisis, NESO, the country’s grid operator, said today. “While we will continue to monitor global energy markets, households and businesses can be confident that electricity supplies remain secure,” NESO’s head of whole energy system resilience, Deborah Petterson, said in a statement, as quoted by Reuters. The UK has, in recent years, become increasingly dependent on imported oil and gas as several successive

Electricity network: “Risk-free dream returns”: Does the network agency control enough?

The accusations are serious: electricity network operators filled their pockets and did poor quality work. The Federal Network Agency doesn't keep an eye on them enough. What's it?

Foodpanda bike deliveries pull ahead in Myanmar as fuel prices surge

Australians see China more as partner than threat as confidence in US sinks

Nissan shareholders block key outside director appointment

China and Germany: “It’s a bad idea to shoot yourself in the foot three times”

Germany can no longer find the right footing in its competition with China. Economist Julian Hinz explains in an interview what the causes are.