IBT Staff Reporter

China's central bank has accepted Ant Group's application to set up a financial holding company, three people with knowledge of the matter said, a key step in finishing a year-long revamp of Jack Ma's fintech business and reviving its stock market debut.

The European Union's executive on Friday supported giving formal membership candidate status to Ukraine and made similar recommendations for two other former Soviet states, a major political shift brought about by Russia's invasion.

The European Union's executive on Friday supported giving formal membership candidate status to Ukraine and made similar recommendations for two other former Soviet states, a major political shift brought about by Russia's invasion.

Germans turn to food banks as inflation hits

The White House will launch a summer-long initiative on Friday to encourage labor unions and industry to work together to train more workers for good jobs in the electric vehicle, broadband and construction sectors, senior administration officials said.

A market trends indicator by BofA Securities fell to zero for the first time since the pandemic-induced mayhem in financial markets in 2020, signalling extreme bearishness as investors dumped credit and crypto assets.

Nigeria's main opposition presidential candidate Atiku Abubakar on Thursday picked a governor from the oil producing Delta state as running mate for next year's presidential election.

China's national oil majors are in advanced talks with Qatar to invest in the North Field East expansion of the world's largest liquefied natural gas (LNG) project and buy the fuel under long-term contracts, three people with knowledge of the matter said.

Private rocket company SpaceX fired at least five employees after it found they had drafted and circulated a letter criticizing founder Elon Musk and urging executives to make the firm's culture more inclusive, two people familiar with the matter said.

At least five employees were fired by private rocket company SpaceX after drafting and circulating an open letter criticizing founder Elon Musk and calling on executives at the start-up to change the company's work culture to make it more inclusive, according to two people familiar with the matter.

European stocks edged higher on Friday, but posted their third straight week of losses as a slew of interest rate hikes from major central banks fuelled worries about a sharp economic slowdown.

Danube offers lifeline for Ukrainian grain exports

Sequoia Capital's India partners, caught out early this year by governance scandals at startup companies in its portfolio, assured investors at an April meeting in London that these "lowlights" were mostly behind it, according to three people familiar with the discussions.

Authorities imposed restrictions on Friday on gatherings in a satellite city of India's capital that is home to offices of several multinational firms, and one person was killed as protests against a new military recruitment process spread.

Protesters in India threw stones at police and set fire to train coaches on Friday as demonstrations against a new military recruitment process raged for a second day, police said.

Coordinated or not ahead of this month's G7 summit, global central banks are accelerating interest rate hikes but also actively draining the giant pool of cash swilling around world markets and buoying currencies to stymie imported inflation.

A week before she left Afghanistan in October 2021, Shakila Mohammadi visited her hometown on a short break from university.

Russian farmers seek to ride out Western sanctions

China launches third aircraft carrier in major military milestone

Japan's yen is at its weakest in decades and inflicting high costs of imported food and fuel on households and businesses, but also proving to be an unexpected tailwind for multinationals such as pharmaceutical giant Takeda.

Pacific security issues can and should be dealt with by regional nations, Samoan Prime Minister Fiame Naomi Mata'afa said on Friday, while adding that China's size made it an attractive economic partner.

Ecuador oil company Petroecuador says it is working to shut down gas flares in the Amazon to comply with a court-imposed deadline, but progress is too slow for nearby communities who allege the flares cause cancer and other illnesses.

Global central bankers, who shared the limelight for skirting a pandemic-driven depression with quick action two years ago, are now stumbling through the aftermath as they try to quell an inflation surge none predicted or have been able to forestall.

Spain's Santander named Hector Grisi as its new chief executive officer to oversee the bank's digital transformation and growth strategy through the global economic uncertainty that is rattling the whole industry.

Spain's Santander named Hector Grisi as its new chief executive officer, replacing long-time executive Jose Antonio Alvarez, the bank said on Friday.

Bank of Japan keeps easing despite global rate hikes

China launched its third aircraft carrier on Friday, the Fujian, named after the province opposite self-ruled Taiwan, sending a statement of intent to rivals as it modernises its military.

Control without invasion: Other actions China could take against Taiwan

'Life goes on' for unfazed Taiwanese on frontline islands