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IMF raises 2025 global growth forecast on 'modest' US trade shock
The International Monetary Fund on Tuesday lifted its outlook for global growth this year, flagging a milder-than-expected economic hit from President Donald Trump's tariff policies while warning of risks ahead.
Europe's economic integration 'insufficient': IMF chief economist
The EU's attempts to integrate the economies of its 27 member states have been insufficient to boost lackluster growth, the IMF's chief economist said in an interview. "There's been some progress, but insufficient in our view, in terms of integrating these economies," Gourinchas said.
Maria Grazia Chiuri named creative director at Fendi
Italian designer Maria Grazia Chiuri was named Tuesday as the new chief creative officer at Rome-based luxury brand Fendi, just months after stepping down as womenswear designer at Dior. "Maria Grazia Chiuri is one of the greatest creative talents in fashion today," said Bernard Arnault, the multi-billionaire chief executive of fashion giant LVMH, which owns Fendi and Dior.
Fallen Austrian property tycoon Benko goes on trial over fraud charges
Fallen Austrian property tycoon Rene Benko pleaded not guilty Tuesday to alleged fraud, the first charges in a wide-ranging investigation into the insolvency of his former real estate empire. On the first day of his trial in the city of Innsbruck, Benko pleaded not guilty to the charges, according to a spokeswoman.
China sanctions five US units of South Korean ship giant Hanwha
China imposed sanctions on five American subsidiaries of South Korean shipbuilder Hanwha Ocean on Tuesday, accusing them of supporting a US government investigation into the shipping industry, as tit-for-tat port fees took effect.
Flights cancelled as Belgium hit by national strike
A national strike over a government savings plan grounded flights and disrupted public transport in Belgium on Tuesday, with tens of thousands expected to join a demonstration in Brussels. Unions expect tens of thousands to join a rally in Brussels on Wednesday, as delays and cancellations also hit the capital's metro, tram, and bus services.
Google to invest $15 bn in India, build largest AI hub outside US
Google said Tuesday it will invest $15 billion in India over the next five years, as it announced a giant data centre and artificial intelligence base in the country. Kurian announced "capital investment of $15 billion" over the five years and a "gigawatt-scale AI hub in Visakhapatnam", a port city in the southeastern state of Andhra Pradesh.
Trump tariffs on timber, furniture take effect
US President Donald Trump's fresh tariffs on imported wood, furniture and kitchen cabinets took effect Tuesday, a development likely to fuel building costs and pile pressure on homebuyers in an already challenging market. The latest salvo features a 10-percent tariff on imports of softwood lumber, while duties on certain upholstered furniture and kitchen cabinets start at 25 percent.
Asian stocks pare tariff-led losses, Tokyo hit by political turmoil
Most Asian stocks rose Tuesday, tracking a rally on Wall Street, after Donald Trump tempered his rhetoric against China, which he has threatened with 100 percent tariffs, while Tokyo struggled amid Japanese political turmoil.
AFP
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