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Iconic Paris cinema shuts in sign of Champs-Elysees decline
The iconic UGC Normandie cinema on the Champs-Elysees in Paris closed its doors Thursday after 90 years -- with critics seeing another sign of tourism and fashion sucking the life from one of the world's most famous shopping boulevards.
Russian stock market suspends dollar trades after US sanctions
Russia's main stock exchange halted dollar and euro trades on Thursday after the United States hit Moscow with a new package of sanctions over its military offensive in Ukraine.
G7 to agree $50-bn Ukraine loan at Italy summit
G7 leaders were set to agree on a new $50-billion loan for Ukraine as they gathered Thursday for a summit in southern Italy, using the profits from frozen Russian assets. The European Union agreed earlier this year to use the profits from the frozen Russian assets for Ukraine, worth up to three billion euros a year.
Fire at Iraqi oil refinery injures 10: civil defence
A massive fire at an oil refinery in Iraqi Kurdistan injured at least 10 people including firefighters battling to control the blaze, which was ongoing Thursday, the civil defence agency reported. "More than 10 people were injured, mainly men from the Arbil civil defence," the agency said in a statement, noting three fire trucks were burned.
Kenya to present budget with new tax hikes
Kenya's finance minister is due to present Thursday the East African economic powerhouse's biggest ever budget, alongside a contentious finance bill that contains a raft of new or increased taxes. One of the most contentious provisions is the introduction of a motor vehicle tax set at 2.5 percent of the value of the car and the reintroduction of VAT on bread.
Why are Chinese electric cars in EU crosshairs?
The European Union said this week it would slap additional tariffs of up to 38 percent on Chinese electric cars from next month after an anti-subsidy probe. Almost 40 percent of those exports went to the European Union, making it the largest recipient of Chinese EVs. Who are the key players?
Musk says Tesla shareholders voting for his pay package by 'wide margins'
Tesla CEO Elon Musk said late Wednesday that the electric vehicle company's shareholders were voting to approve his multibillion-dollar pay package by "wide margins" before the ballot had been concluded. "Both Tesla shareholder resolutions are currently passing by wide margins!"
Asian stocks build on Wall St records after US inflation data
Asian traders extended a rally across world markets Thursday as they welcomed figures showing US inflation slowed further last month, tempering concerns about the Federal Reserve's forecast of just one interest rate cut this year.
Japan's escargot entrepreneur achieves the 'impossible'
Far from Parisian bistros serving up Burgundy snails, one Japanese man has figured out how to farm the slimy species -- a feat that has long eluded the French. Around five percent are homegrown in France, but these are a different species, helix aspersa, which are easier to farm and do not have the "Burgundy" name.
AFP
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