WASHINGTON: The Federal Reserve needs to accelerate the pace of interest rate increases to fight rising inflation, but can do so in a way that doesn’t roil financial markets, St Louis Fed President James Bullard said yesterday.

KUWAIT: The Governor of the Central Bank of Kuwait (CBK), Dr Mohammad Y Al-Hashel, received the European Commissioner for Budget and Administration, Johannes Hahn and his accompanying delegation, in the presence of senior officials from the Ministry of Finance and the Kuwait Investment Authority. 

PHNOM PENH: Cambodia is powering up its new National Internet Gateway, a move activists say will allow the government to further silence the country’s embattled opposition voices. UN rights experts warn the gateway, which will funnel all web traffic through a state-controlled entry point from February 16, will have a “devastating” effect on privacy and free speech.

RIYADH: Saudi Arabia has moved four percent of Aramco shares worth $80 billion in the world’s biggest oil exporter to the kingdom’s sovereign wealth fund, authorities said yesterday. 

AGII APOSTOLI, Greece: Until a few years ago, Agii Apostoli was a picturesque seaside village on the eastern coast of Evia, drawing a modest income from tourism and fishing. Now it is ringed by towering wind turbines whose night lights and whirring sounds are tantamount to daily “torture”, locals say.

FRANKFURT: German industrial giant Siemens ploughed ahead in the first quarter, booking an increased net profit despite the supply chain disruptions which have troubled many businesses, it said yesterday.

HONG KONG: Asian and European stocks enjoyed further gains yesterday as traders jostled for position ahead of the release of US inflation data later in the day that could have a huge bearing on the Federal Reserve’s rate hike plans. 

PARIS: French energy giant TotalEnergies yesterday rebounded from the COVID crisis with a huge 2021 profit as oil and gas prices soared — a performance that raised political hackles in an election year in France.

BEIJING: The COVID lockdown this week of a relatively unknown Chinese city sent global prices of aluminum rocketing to a 14-year high. Why did the outbreak in Baise spark fears around the world about the key metal?