FRANKFURT—The European Central Bank should raise interest rates soon and has room for up to three hikes this year, ECB policymaker Martins Kazaks told Reuters, joining a chorus of policymakers calling for a swift exit from stimulus. The ECB has been rolling back support at a glacial pace for months but a surge in inflation…
Chip Startups Using Light Instead of Wires Gaining Speed and Investments
Computers using light rather than electric currents for processing, only years ago seen as research projects, are gaining traction and startups that have solved the engineering challenge of using photons in chips are getting big funding. In the latest example, Ayar Labs, a startup developing this technology called silicon photonics, said on Tuesday it had…
Indonesia May Widen Palm Export Ban to Combat Shortages
JAKARTA–Indonesia will ban exports of RBD palm olein from midnight on April 28 until prices of bulk cooking oil drop to 14,000 rupiah per litre, a senior minister said on Tuesday, while a document showed it was prepared to widen the ban if there are shortages. The export ban will be imposed on all producers…
FDA Not Issuing Contracts to McKinsey Amid Investigation Into Conflict of Interest in Opioid Consulting
The Food and Drug Administration (FDA) will not be issuing new contracts to the consulting firm McKinsey and Co. amid an investigation into potential conflicts of interest, a top official has confirmed. The U.S. House Oversight Committee is currently investigating McKinsey over allegations that it was working for the U.S. government on issues relating to the opioid epidemic while at…
Qatar Airways Suffers Setback in Feud With Airbus
LONDON—A British judge on Tuesday denied a bid by Qatar Airways to reinstate a jet contract cancelled by Europe’s Airbus in the latest twist to a dramatic feud playing out in UK courts. The companies have been locked in a safety dispute for months on Europe’s A350 long-haul jet. Their unprecedented bust-up widened in January…
A Luxurious Destination: Portonovi, Montenegro
Thanks to pristine beaches, lush nature, and relaxing resorts, the Portonovi real estate development has been crowned “the Monaco of Montenegro.” Sitting at the entrance of a natural harbor, this mixed-use destination features a Mediterranean-inspired, Riviera-lifestyle village. It features 218 luxury residences, a helipad, 30 swimming pools, a tennis club, restaurants, shops, an art gallery,…
World Bank to Provide $600 Million to Assist Crash-Strapped Sri Lanka
The World Bank has agreed to provide Sri Lanka with $600 million in financial aid to help cover the cost of essential imports as the country’s economic crisis deepened, the Sri Lankan President’s Media Division said Tuesday. The first tranche of $400 million would be released “shortly,” it stated, adding that the World Bank had…
Two-Thirds of Workers Might Seek New Jobs If Forced Back to Office: Global Survey
Worker demands for more flexibility and security, bolstered by the pandemic and a tight labor market, are only growing more intense as the world economy reopens and some firms begin trying to pull employees back to offices, payroll provider ADP reported in a survey of nearly 33,000 people worldwide. The survey found that two-thirds of…
UN Rights Team in China Ahead of Xinjiang Visit
April 27, 2022
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GENEVA—The U.N. human rights office has sent an advanced team to the Chinese city of Guangzhou where they are quarantining ahead of a visit to the Xinjiang region, a spokesperson said on Tuesday. The team of five which arrived on Monday precedes an expected visit by the U.N. human rights chief Michelle Bachelet initially programmed…
Fed Up With COVID-19 Lockdown, Bankers, Fund Managers Looking to Leave Shanghai
HONG KONG—Finance sector professionals in Shanghai are preparing to move back to Hong Kong and other offshore centers after spending only a few years in the Chinese city as a harsh COVID-19 lockdown has hurt their business prospects and upended daily lives. Thousands of bankers, traders, and investors in the financial hub of the world’s…
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