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German govt okays plan to legalise recreational cannabis
The German government approved a draft law Wednesday legalising the purchase and possession of small amounts of cannabis for recreational use, despite criticism from opposition politicians and judges. The German Judges Association meanwhile said the legislation would create more red tape and add more stress to the judicial system, rather than relieving it.
China's Tencent reports jump in Q2 income, misses revenue expectations
Chinese internet giant Tencent announced on Wednesday a 41 percent year-on-year jump in second-quarter net income, but missed analyst forecasts for revenue. And on a quarter-to-quarter basis, Tencent's latest quarterly net income figure represents an increase of just 1 percent.
Cargo ship exits Ukraine port despite threat from Russian navy
Kyiv announced Wednesday a cargo vessel had exited its southern port of Odesa along a new maritime corridor, despite an earlier warning from Russia it could target vessels using Ukrainian ports. The possibility of a Russian attack on cargo ships on the Black Sea increased after last week, when Moscow said it fired warning shots from a Russian warship at a cargo vessel heading towards Izmail.
Kenya's debt rises to historic high: treasury
Kenya's debt level has reached record highs despite President William Ruto's vow to tame the country's appetite for loans, treasury figures show. "The increase in the public debt is attributed to external loan disbursements, exchange rate fluctuations and the uptake of domestic and external debt," the treasury said.
Vietnam's VinFast targets USA electric car markets
Vietnamese electric vehicle maker VinFast has made its debut on the Nasdaq, and its shares soared to push its stock market valuation past Ford and General Motors.
UK annual inflation drops to 15-month low
Britain's annual inflation rate dropped sharply in July to a 15-month low, official data revealed Wednesday, off the back of lower energy prices and in line with economists' expectations. "The stubbornly high rate of price inflation for goods and services other than food and energy has put the target in jeopardy," said IFS research economist Heidi Karjalainen.
Hong Kong exchange posts 31% rise in H1 profit despite IPO malaise
Hong Kong's stock exchange operator reported a "strong" first-half net profit of HK$6.31 billion ($807 million) on Wednesday, up 31 percent on the same period last year despite IPO activity being impacted by "global market fragility".
Asian markets fall on China woes, US rate concerns
Asian markets fell Wednesday on concerns about the Chinese economy and after stronger-than-expected US retail sales data increased the likelihood of a further Fed rate hike. The data comes on top of a raft of weaker-than-expected figures on Tuesday showing slowing growth in retail sales and industrial production.
Plus-size movement reshapes fashion in Brazil
Defying the fashion world's narrow stereotype of beauty, Brazilian plus-size designer Amanda Momente poses confidently for the camera, wearing the clothing label she founded after failing to find other options that fit. "The fashion industry needs to fit our bodies, not the other way around," says Momente.
AFP
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