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AP National Business

Turkish leader names new statistics chief as inflation rises

ISTANBUL (AP) — Turkey’s president has fired the head of the Turkish Statistical Institute, which is responsible for posting official inflation statistics, among other data. Turkish President Recep Tayyip Erdogan’s decision was announced Saturday. Prices in Turkey have skyrocketed amid economic turmoil with an unstable national currency, triggered by massive interest rate cuts.  Inflation on

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Philippines secures supersonic anti-ship missiles from India

MANILA, Philippines (AP) — The Philippines has signed a $378 million contract with India to acquire his country’s first shore-based anti-ship missile system. Defense Secretary Delfin Lorenzana says the supersonic missiles would be used to defend the country’s sovereignty especially in the disputed South China Sea. Despite financial constraints and the coronavirus pandemic, the Philippines

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Hong Kong economy grows 6.4% in 2021

BEIJING (AP) — Hong Kong’s economy grew by 6.4% last year after activity weakened as anti-coronavirus controls were tightened. Government data show economic output expanded by 4.8% over a year earlier in the three months ending in December, down from the previous quarter’s 5.5%. Growth in consumption and investment weakened. The government has tightened controls

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EU watchdog clears Facebook’s purchase of Kustomer startup

LONDON (AP) — European Union regulators have approved Facebook parent Meta’s purchase of customer service startup Kustomer, after the social network made concessions to ease concerns the deal wouldn’t squeeze out rivals. The EU Commission’s decision Thursday following an in-depth investigation clears an obstacle for the deal, which has been facing scrutiny over fears it

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Israel, Cyprus, Greece power cable link secures EU funding

By MENELAOS HADJICOSTIS Associated Press NICOSIA, Cyprus (AP) — Cyprus’ energy minister says the European Union has earmarked 657 million euros ($736 million) for the construction of a 2,000-megawatt undersea electricity cable linking the power grids of Israel, Cyprus and Greece. Energy Minister Natasa Pilides told reporters on Thursday the funding is Cyprus’ largest-ever investment

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Japan’s Mitsubishi, energy body join Gates’ nuclear project

TOKYO (AP) — Mitsubishi Heavy Industries and the Japan Atomic Energy Agency have signed an agreement to participate in a next-generation nuclear energy project with TerraPower, a company started by Bill Gates. The memorandum of understanding is on cooperating in developing advanced nuclear technologies. Based in Kemmerer, Wyoming, the demonstration project will use a nontraditional,

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England lifts COVID restrictions as omicron threat recedes

By SYLVIA HUI Associated Press LONDON (AP) — Most coronavirus restrictions, including mandatory face masks, have been lifted in England after Britain’s government said its vaccine booster rollout successfully reduced serious illness and COVID-19 hospitalizations. From Thursday, face coverings are no longer required by law anywhere in England, and a legal requirement for COVID passes

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