Author: Biznews

Kenyan Fashion Designers Struggle to Grow Business

The fashion and textile industry could generate nearly half a million jobs in sub-Saharan Africa over the next decade. That’s according to the African Development Bank, which launched its “Fashionomics” initiative in 2015 to revitalize the industry. However, designers in the region still struggle to grow their businesses. Lenny Ruvaga …

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Venezuela Arrests Top Citgo Executives

Venezuelan authorities arrested the acting president of Citgo, the U.S. subsidiary of state-owned Petroleos de Venezuela SA (PDVSA), along with five other senior executives Tuesday for alleged corruption. Attorney General Tarek William Saab told a press conference that interim president Jose Pereira and other managers allegedly arranged contracts that put …

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Some Republicans Nervous NAFTA Talks Could Fail

Pro-trade Republicans in the U.S. Congress are growing worried that U.S. President Donald Trump may try to quit the NAFTA free trade deal entirely rather than negotiate a compromise that preserves its core benefits. As a fifth round of talks to modernize the North American Free Trade Agreement kicked off …

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Unions Take NAFTA Wage Fight to Mexican Senate

The head of Canada’s biggest private-sector union headed to Mexico’s Senate on Friday, promising to fight at the NAFTA trade pact talks for improved Mexican wages and free collective bargaining as a way of benefiting workers across North America. The issue of tougher labor standards has emerged as a key …

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Mexico Rejects Special Benefit in NAFTA for AT&T

Mexico shot down a proposal by the United States to include provisions in the North America Free Trade Agreement that would benefit AT&T, Mexico’s Economy Minister Ildefonso Guajardo said Wednesday. “AT&T, which is North American, asked its government to reflect its interests in the negotiation,” Guajardo said in an interview …

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Shrinking GE Rattles Investors, Shares Hit 5-year Low

General Electric’s new Chief Executive John Flannery on Monday outlined steps that will turn the biggest U.S. industrial conglomerate into a smaller, more focused company, surprising some investors who sold the company’s shares to a five-year low. Flannery’s plan to shrink GE’s multi-industry array of businesses was a reversal of …

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Mexico Readying Economic Response if US Exits NAFTA

Mexico’s government is preparing a macroeconomic response in case U.S. President Donald Trump makes good on threats to quit the North American Free Trade Agreement (NAFTA), an event which could wreak havoc on the Mexican economy and hurt the peso. Mexico’s Foreign Minister Luis Videgaray said on Monday the government …

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Seeking to Dodge Default, Venezuela Hosts Creditors

Venezuela’s socialist government welcomed scores of creditors on Monday for talks intended to renegotiate a crippling foreign debt and avert a default that could compound the once-prosperous OPEC nation’s economic crisis. About 100 investors — including some bondholders from New York, and lawyers and representatives for others — gathered at …

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