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Tag: protests

Iran petrol price hike: Protests erupt over surprise rationing

Iran petrol price hike: Protests erupt over surprise rationing

World
Media playback is unsupported on your device Protests have erupted across Iran after the government unexpectedly announced it was rationing petrol and increasing its price. At least two people have been killed. Prices rose by at least 50% on Friday as subsidies on petrol were reduced.The authorities say they want to free up money to help the poor. Iran is already suffering economically due to stiff sanctions imposed by the US after Washington decided to pull out of the 2015 Iran nuclear deal. How renewed US sanctions have hit Iran hardIran's network of influence in Mid-East 'growing'One person was killed during protests in the central city of Sirjan. State news agency Irna said there were clashes with police when protesters attacked a fuel st...
Hong Kong in first recession for a decade amid protests

Hong Kong in first recession for a decade amid protests

World
Hong Kong has entered its first recession in a decade as the territory continues to be gripped by protests.Its economy shrank 3.2% in the July-to-September period compared with the prior quarter, figures showed, confirming earlier preliminary data.It means the economy has contracted for two quarters in a row, which is the usual definition of a recession.Tourists are staying away and shops are suffering amid battles between anti-government protesters and police.Compared with a year ago, Hong Kong's economy was 2.9% smaller in the third quarter of the year. Hong Kong's protests started in June after the government planned to pass a bill that would allow suspects to be extradited to mainland China.Many feared this bill would undermi...
Hong Kong protests: Two ‘critical’ after day of chaos

Hong Kong protests: Two ‘critical’ after day of chaos

World
Media playback is unsupported on your device Two people are in critical condition after another day of violent demonstrations in Hong Kong.The first person - a protester - was injured on Monday morning, when he was shot by a police officer.He is the third person shot by police since rallies began 24 weeks ago.Later, a pro-Beijing supporter was doused in flammable liquid and set alight after arguing with protesters, who are demanding greater democracy and police accountability.There were a number of other flashpoints during the day, with police firing rubber bullets and tear gas in others parts of Hong Kong. At one point, tear gas was fired in the central business district - a rare occurrence during working hours on a weekday.Monday's violence followed a we...
Hong Kong protests haven’t hurt our profitability, say bank CEOs

Hong Kong protests haven’t hurt our profitability, say bank CEOs

Finance
Pro-democracy protests have hurt the Hong Kong economy, but the chief executives of two major banks said their businesses in the city have not been affected in a big way.Singaporean bank DBS said on Monday that net profit for its Hong Kong business jumped 14% year-on-year in the July-to-September quarter. That performance came on the back of a 15% year-on-year rise in overall profit for the quarter to 1.63 billion Singapore dollars ($ 1.2 billion), which beat analyst estimates compiled by Refinitiv.Hong Kong contributed around 334 million Singapore dollars, or 20%, of DBS' overall profits in the third quarter this year.Piyush Gupta, CEO of DBS, told CNBC's Tanvir Gill that he doesn't anticipate a "serious problem" with the bank's loan book in Hong Kong. But the bank has set aside some mone...