Economy

Economy Latest News

Russian central bank holds key rate at two-decade high
Russian central bank holds key rate at two-decade high
by  AFP

Prices have been rising quickly across the Russian economy for months, pushed up by massive government spending on the Ukraine conflict and deep labour shortages. That spending has bloated the Russian economy, partially offsetting the impact of Western sanctions.

Massive disruption after power outage shuts London's Heathrow airport
Massive disruption after power outage shuts London's Heathrow airport
by  AFP

Britain's Heathrow airport -- Europe's busiest -- shut down early on Friday after a major fire at an electricity substation cut power to the sprawling hub, causing disruption worldwide to hundreds of flights and thousands of travellers. The UK's second busiest airport, Gatwick, said it would accept some flights from Heathrow.

London's Heathrow airport closed after fire causes major power cut
London's Heathrow airport closed after fire causes major power cut
by  AFP

Britain's Heathrow airport, Europe's busiest, was shut down early Friday after a major fire at an electrical substation supplying power to the sprawling facility west of London, officials said. London Fire Brigade said there had been a "significant" fire at a substation in Hayes, a nearby town in the London borough of Hillingdon.

Asian markets skid into weekend as trade fears cast a pall
Asian markets skid into weekend as trade fears cast a pall
by  AFP

Asian markets limped into the weekend on Friday following a tepid lead from Wall Street as the optimism stoked by a dovish US Federal Reserve meeting gave way to long-running fears about President Donald Trump's tariff agenda.