A senior United Nations official says trade protectionism, rising private and corporate debt, and shortcomings in revenue raising are growing challenges to the economic outlook for the Asia Pacific. Shamshad Akhtar, executive secretary of the UN’s Economic and Social Commission for Asia and the Pacific (UNESCAP), noted the threats of …
Mexico on Thursday indicated time was running out to see whether NAFTA nations could agree a new deal in the short term while Canada struck a upbeat tone, saying top-level talks this week had achieved a great deal. Major differences remain between the three members of the North American Free …
Virginia Wallen is a wife, a mother of three, and a woodworker. She achieved what she has never imagined she would — turning her carpentry hobby into a business. The entrepreneur isn’t just succeeding in her new career, she’s tearing down stereotypes and building a new role model. It happens …
Wall Street surged on Wednesday as surging oil prices boosted energy stocks following U.S. President Donald Trump’s decision the previous day to quit a nuclear agreement with Iran. Gains were broad and volume was high, with all but the utilities and telecom sectors advancing as investors who had moved to the sidelines in recent days …
A New York hedge fund founder was arrested Wednesday on charges that he exaggerated his company’s performance by over $200 million to impress and preserve investors. Anilesh Ahuja, 49, of Manhattan, was charged with conspiracy, securities fraud and wire fraud. Federal officials said that the founder, chief executive officer and …
Saudi Arabia is monitoring the impact of the U.S. withdrawal from the Iran nuclear deal on oil supplies and is ready to offset any shortage but it will not act alone to fill the gap, an OPEC source familiar with the kingdom’s oil thinking said. U.S. President Donald Trump on …
U.S. producer prices barely rose in April after strong gains in the first quarter, held back by a moderation in the cost of services such as hotel accommodation and healthcare, which could ease fears that inflation pressures were rapidly building up. The slowdown in wholesale price growth reported by the …
For generations, farmers planted the lush earth of Awedai and nearby areas in eastern Ethiopia with coffee trees, earning a livelihood from a crop that is now the country’s main export. But the centuries-long practice is now being abandoned in favor of khat, a leafy plant chewed as a stimulant …
Sub-Saharan African nations are at growing risk of debt distress because of heavy borrowing and gaping deficits, despite an overall uptick in economic growth, the International Monetary Fund said Tuesday. The sober assessment came as African countries continue to tap international debt markets and issue record levels of debt in …
Soon after presenting his credentials to the German president, the new U.S. ambassador to Germany, Richard Grenell, told German companies to start leaving Iran. “As Donald Trump said, U.S. sanctions will target critical sectors of Iran’s economy. German companies doing business in Iran should wind down operations immediately,” Grenell tweeted …
Wooden dhows crammed with secondhand Japanese cars have been sailing unhindered into Yemeni ports for the past three years despite rigid wartime controls on imports of aid and other vital supplies. Like many Yemeni traders, Ali al-Mahry jumped at this chance to turn a profit by supplying customers at home …
The Trump administration is unveiling a multibillion-dollar roster of proposed spending cuts but is leaving this year’s $1.3 trillion catchall spending bill alone. The cuts wouldn’t have much impact, however, since they come from leftover funding from previous years that wouldn’t be spent anyway. The White House said …
Australia’s government is expected to release annual spending plans on Tuesday with a focus on winning votes at elections due within a year. Cheaper craft beer plus personal tax cuts compensated by strengthening company tax revenue have been flagged as well as more investment on roads and rail to stimulate …
U.S. oil giant ConocoPhillips is pressing for control of Venezuela’s key offshore operations in the Caribbean, seeking to recoup $2 billion from a decade-old dispute with the nation struggling to feed its people, a source confirmed Monday. The Houston-based ConocoPhillips is asking a court in the Dutch Antilles for …
Air France’s share price dived Monday after its CEO quit and the French government warned that the country’s flagship carrier might collapse. A new strike Monday over wage demands, meanwhile, prompted the cancellation of about 15 percent of Air France flights worldwide. The number of striking staffers appears to be …
An innovative consumer awareness campaign will be launched this summer in several cities in the United States. The campaign is aimed at preventing the waste of food that costs the world billions of dollars and has severe consequences on global food security and the environment. Verónica Balderas Iglesias spoke with …
The U.S. and China ended the second day of high level talks Friday aimed at avoiding a possible trade war. The U.S. delegation, headed by Treasury Secretary Steven Mnuchin, will brief President Donald Trump Saturday and “seek his decision on next steps,” the White House said in a statement, adding …
President Trump reveled in the 3.9 percent U.S. unemployment rate Friday, following the release of figures by the Bureau of Labor Statistics. But some say that these numbers don’t tell the whole story. From Washington, VOA’s Jill Craig has more. …
The Trump administration has drawn a hard line in trade talks with China, demanding a $200 billion cut in the Chinese trade surplus with the United States, sharply lower tariffs and advanced technology subsidies, people familiar with the talks said Friday. The lengthy list of demands was presented to Beijing …
The Trump administration has drawn a hard line in trade talks with China, demanding a $200 billion cut in the Chinese trade surplus with the United States, sharply lower tariffs and advanced technology subsidies, people familiar with the talks said Friday. The lengthy list of demands was presented to Beijing …
The Central Bank of Nigeria (CBN) and Peoples Bank of China (PBoC) have agreed on a currency swap worth $2.5 billion to reduce their reliance on the U.S. dollar in bilateral trade. CBN Governor Godwin Emefiele led Nigerian officials, while the PBoC governor, Yi Gang, led the Chinese team to …
U.S. employers stepped up hiring modestly in April, and the unemployment rate fell to 3.9 percent, evidence of the economy’s resilience amid the recent stock market chaos and anxieties about a possible trade war. Job growth amounted to a decent 164,000 last month, up from an upwardly revised 135,000 in …
Venezuela said on Thursday it would take over the country’s leading private bank, Banesco, for 90 days and announced the arrest of 11 top executives for “attacks” against the country’s rapidly depreciating bolivar currency. The detentions came on the heels of last month’s shock arrests of two Venezuelan executives working in the country for U.S. oil …
A federal grand jury in Detroit has indicted former Volkswagen CEO Martin Winterkorn with conspiracy and wire fraud in the car builder’s scheme to rig diesel emissions tests. “If you try to deceive the United States, then you will pay a heavy price,” Attorney General Jeff Sessions said Thursday. “The …
The U.S. trade deficit narrowed sharply in March as exports increased to a record high amid a surge in deliveries of commercial aircraft and soybeans, bolstering the economy’s outlook heading into the second quarter. While other data on Thursday showed a modest increase in new applications for jobless benefits last …
South Korea is looking into developing and financing economic projects with North Korea that could take effect if a nuclear deal is reached with the United States. South Korean Finance Minister Kim Dong-yeon said on Wednesday the government was “internally carrying out preparations” to organize, finance and implement possible inter-Korea …