Posts Tagged ‘Crisishit’
Crisis-hit Argentina Inks $20 Bn Rescue With US
Argentina and the United States signed off on a $20 billion financial lifeline Monday, hoping to avert economic meltdown and boost President Javier Milei ahead of tough legislative elections. President Donald Trump has plied Argentina with political and economic support ahead of the October 26 vote, which will decide whether his close ally Milei can…
Read MoreCrisis-hit Bolivia Looks To The Right For Economic Salvation
Bolivia chooses between two pro-business candidates in presidential elections on Sunday, ending two decades of socialist rule that have left the beleaguered South American nation deep in economic crisis. With dollars and fuel in short supply and annual inflation at more than 20 percent, weary voters snubbed the Movement Toward Socialism (MAS) party founded by…
Read MoreCrisis-hit German Rail Operator Reports Another Massive Loss
German rail operator Deutsche Bahn reported another massive annual loss Thursday as it battles a “serious crisis” but said government plans to ramp up infrastructure spending could get it back on track. Years of chronic underinvestment have left the train network in Europe’s biggest economy in a sorry state, with passengers frequently complaining of long…
Read MoreBlinken Seeks Stability In Crisis-hit Ally South Korea
US Secretary of State Antony Blinken holds talks Monday in crisis-riven South Korea, seeking to encourage policy stability in the US ally, including in its complicated relationship with Japan. Blinken, starting what will likely be his last trip as the top US diplomat, will be meeting his counterpart on the day an arrest warrant for…
Read MoreCrisis-hit Thyssenkrupp Books Another Hefty Annual Loss
German industrial giant Thyssenkrupp reported Tuesday a massive annual loss for the second year running, as it battles challenges including a crisis in its historic steel division. The conglomerate, whose products range from steel to submarines, booked a loss of 1.5 billion euros ($1.6 billion) for the 2023-24 financial year, after a loss of over…
Read MoreCrisis-hit Germany Headed For February 23 Snap Election
Germany, mired in political crisis, is headed for February 23 elections, the main parties agreed Tuesday, aiming to form a stable government after Chancellor Olaf Scholz’s three-party coalition collapsed last week. The two biggest parties agreed on the early timetable, which would see centre-left leader Scholz seek a vote of confidence on December 16, paving…
Read MoreAfter Hurricanes, Two Earthquakes Jolt Crisis-hit Cuba
Two powerful earthquakes rocked southern Cuba in quick succession on Sunday, US geologists said, just days after the island was struck by a hurricane that knocked out power nationwide. The quakes cracked walls and damaged homes, but did not appear to have caused any deaths, according to preliminary reports. They left many residents running into…
Read MoreCrisis-hit VW Mulls Closing At Least Three German Plants
Ailing auto giant Volkswagen plans to close at least three factories in Germany and slash tens of thousands of jobs as part of drastic cost-savings drive, workers’ representatives said Monday, calling the proposed cuts “of historic dimensions”. The plan laid out by management, which affects the namesake VW brand, also includes a 10-percent pay cut…
Read MoreCrisis-hit Boeing Flies High At Farnborough Airshow
Boeing announced Monday a raft of orders on the first day of Britain’s Farnborough Airshow, shrugging off safety and production woes as the industry struggles to keep up with demand. The embattled US aviation giant swooped for a bumper deal with Korean Air, inking a firm order for 20 777-9 wide-body jets — which has…
Read MoreI.Coast Relies On Livestock From Crisis-hit Sahel For Eid
At a muddy market in a city district in Ivory Coast, hundreds of animals are lined up to be sacrificed for this Sunday’s Muslim festival of Eid. An overwhelming majority of the livestock at the market in Adjame in Abidjan come from the Sahel — a region shaken by crises that are disrupting supplies to…
Read More