Economy

Economy Latest News

Rice prices up 91 pct year-on-year in Japan
Rice prices up 91 pct year-on-year in Japan
by  AFP

Rice prices in Japan soared 90.7 percent in July year-on-year, official data showed Friday, but the rate of increase slowed from previous months offering some relief for Prime Minister Shigeru Ishiba. But other data released Wednesday showed exports to the United States plunging 10.1 percent in July, with cars down 28.4 percent.

Meta makes huge cloud computing deal with Google: source
Meta makes huge cloud computing deal with Google: source
by  AFP

Meta has made a cloud computing deal with Google worth more than $10 billion over the course of six years, a source close to the transaction told AFP Thursday. Google parent Alphabet's cloud computing business was on pace to bring in $50 billion over the course of the year, the company said in a recent earnings report.

Less tax, more luxury: millionaires flock to Dubai
Less tax, more luxury: millionaires flock to Dubai
by  AFP

Rich people are flocking to Dubai in record numbers, drawn to the desert city by its zero income tax policy and easy luxury lifestyle that has become harder to maintain elsewhere. Some are pushed out by a stricter taxation policy for people with "non-dom" status -- those who live in Britain but whose permanent domicile is abroad and had benefitted from no tax on income earned outside the country.