The Federal Reserve building in Washington. File/Associated Press
A flurry of interest rate cuts by the US Federal Reserve and a host of other central banks marks the broadest shift in global monetary policy since the depths of the financial crisis in 2009, analysts at Fitch Ratings said in a report.
For the first time since the Great Recession a decade ago, the US Federal Reserve is poised to cut interest rates, shoring up America’s defenses as the global economy weakens.
US job growth rebounded strongly in June, with government payrolls surging, but persistent moderate wage gains and mounting evidence the economy was losing momentum could still encourage the Federal Reserve to cut interest rates this month.
The company announced two weeks ago that it would cancel 900 connections in July. Now it will take out of the system a further 2,200 of a total of 80,000 flights, Lufthansa said, dpa news agency reported.
According to data from hotel management analytics firm STR, Dubai ranked No.1 globally in hotel occupancy, ahead of other international destinations including New York, London and Paris for the January-April 2022 period.
A day after endorsing Ukraine’s candidacy to join the European Union, the bloc’s leaders turned their attention on Friday to the severe economic turbulence looming over