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TikTok exploits trade war to shift fake luxury goods
TikTok exploits trade war to shift fake luxury goods
Business and Economy
by  AFP

TikTok abounds with viral videos accusing prestigious brands of secretly manufacturing luxury goods in China so they can be sold at cut prices. The accusation that luxury goods officially manufactured in Europe were in reality being secretly made in China "does not make any sense", concurred Michel Phan, professor of luxury marketing at emlyon business school in France.

Russia holds key rate at two-decade high despite slowdown fears
Russia holds key rate at two-decade high despite slowdown fears
Business and Economy
by  AFP

Russia's central bank kept borrowing costs at a two-decade high of 21 percent on Friday to combat rampant inflation, despite banks and businesses warning the economy was headed for a slowdown. In a statement announcing the rate decision, Russia's central bank acknowledged lending activity was "subdued" but that inflation, running above 10 percent, was still too high.