The Philippines ranked among Asia’s 10 fastest growing economies in 2017. Consumer power, remittances from overseas workers and an influx of call centers had given it that status, raising hopes for easing rampant poverty. Then GDP expansion wobbled in 2018 because of rising prices and lack of new direct investment. …
Brazilian miner Vale SA identified concerns around its tailings dams in 2009 and studied but did not implement several steps that could have prevented or lessened the damage from last week’s deadly disaster, according to a corporate presentation seen by Reuters. A tailings dam, used to store the …
The U.S. has imposed sanctions on Venezuela’s state-owned oil company, PdVSA, in an increased effort to pressure Nicolás Maduro to relinquish power to Juan Guaidó, now recognized by the U.S. and a number of other nations as the country’s legitimate president. VOA’s diplomatic correspondent Cindy Saine reports from the State …
Brazil eyes management overhaul for Vale after dam disaster Brazil’s government weighed pushing for a management overhaul at iron ore miner Vale SA on Monday as grief over the hundreds feared killed by a dam burst turned into anger, with prosecutors, politicians and victims’ families calling for punishment. By Monday …
Food shocks, or sudden losses of crops, livestock or fish, due to the combination extreme weather conditions and geopolitical events like war, increased from 1961 to 2013, said researchers at The University of Tasmania in a report released Monday. Researchers saw a steady increase in shock frequency over each decade …
U.S. Treasury Secretary Steven Mnuchin said on Monday the United States expects significant progress this week in trade talks with Chinese Vice Premier Liu He, but the two sides will be tackling “complicated issues”, including how to enforce any deal. The talks, scheduled for Wednesday and Thursday in Washington, will …
Federal prosecutors on Monday unsealed two separate indictments against China’s Huawei Technologies, it’s chief financial officer and several affiliates for financial fraud and theft of American intellectual property. In a 13-count indictment unsealed in federal court in Brooklyn, New York, prosecutors charged the Chinese tech giant, its top financial officer, …
When Germany signed a deal last month to help Bolivia exploit its huge lithium reserves, it hailed the venture as a deepening of economic ties with the South American country. But it also gives Germany entry into the new “Great Game,” in which big powers like China are jostling across …
The World Economic Forum summit in Davos, Switzerland, that wrapped up Friday, had some notable absentees, including U.S. President Donald Trump. With a backlash against a perceived ruling elite gaining ground in many countries, analysts say some leaders steered clear of a gathering often seen as an inaccessible club for the world’s super-rich. …
A government-appointed commission laid out a plan Saturday for Germany to phase out coal use by 2038. The commission — made up of politicians, climate experts, union representatives and industry figures from coal regions — developed the plan under mounting pressure on Europe’s top economy to step up efforts …
Impatient with the lack of World Trade Organization rules to cover the explosive growth of e-commerce, 76 countries and regions agreed on Friday to start negotiating this year on a set of open and predictable regulations. The WTO’s 164 members were unable to consolidate some 25 separate e-commerce proposals at …
A Republican U.S. representative on Thursday introduced White House-drafted legislation that would give President Donald Trump more power to levy tariffs on imported goods in an effort to pressure other countries to lower their duties and other trade barriers. The measure offered by Representative Sean Duffy, which has been touted …
European Trade Commissioner Cecilia Malmstrom said on Thursday that Europe should be more ambitious on issues such as climate change as a way to unite the bloc around a single vision. “We need a great debate on the future of Europe,” she said in a wide-ranging debate at the World …
The European Union on Wednesday warned countries running lucrative schemes granting passports and visas to rich foreigners to toughen checks on applicants amid concern they could be flouting security, money laundering and tax laws. EU countries have welcomed in more than 6,000 new citizens and close to 100,000 new residents …
The hottest job of the future might be app developer. All you have to do is look at what you’re holding in the palm of your hand to figure out why. “All of us use our cellphones probably more than we should be every day, and that is what is …
The annual World Economic Forum opened today in Switzerland against a backdrop of anxieties over trade disputes, Brexit and a growth slowdown that some fear could tip the world economy. VOA’s Mariama Diallo reports. …
Nigeria is to send a bill recommending a national minimum monthly wage rise of 50 percent to 27,000 naira ($88) to lawmakers in the national assembly, the labor minister said on Tuesday. Cost of living is a major campaign issue ahead of a presidential election on 16 February and unions …
Brazilian President Jair Bolsonaro will headline the first full day of the World Economic Forum in Davos, Switzerland, with a speech to political and business leaders. The nationalist leader is attending an event that has long represented business’s interest in increasing ties across borders. But globalism is in retreat …
Economists warn that political uncertainties and trade tensions could undermine global economic growth. Rights groups warn of the dangers of growing economic inequality. About 3,000 political and economic leaders have gathered in the Swiss resort town of Davos to discuss global business and economic trends at an annual economic forum. …
The United Nations is forecasting that the global economy will grow by around 3 percent in 2019 and 2020, but says waning support for multilateralism, escalating trade disputes, increasing debt and rising climate risks are clouding prospects The United Nations is forecasting that the global economy will grow by around …
British Prime Minister Theresa May unveiled her Brexit Plan B on Monday — and it looks a lot like Plan A. May launched a mission to resuscitate her rejected European Union divorce deal, setting out plans to get it approved by Parliament after securing changes from the EU to a …
China’s 2018 economic growth decelerated to 6.6 percent after activity in the final quarter of the year declined amid a tariff battle with Washington. Data announced Monday showed economic growth cooled to a post-global crisis quarterly low of 6.4 percent in the three months ending in December from the previous …
The sale of Nile Perch fish maw in Uganda has become a lucrative business, especially for distributors. The fish maw – or dried swim bladder – is used as an aphrodisiac in China. But Ugandan fishermen bringing in the perch say they are being exploited while others are reaping the …
U.S. President Donald Trump said on Saturday progress is being made toward a trade deal with China and denied that he was considering lifting tariffs on Chinese products. “Things are going very well with China and with trade,” he told reporters, adding that he had seen some “false reports” indicating …
World stock indexes jumped on Friday, with Wall Street posting a fourth straight week of gains, and the dollar had its first positive week since mid-December as optimism increased that an end is in sight to the U.S.-China trade conflict. Stocks were boosted by a Bloomberg report that said China …
U.S. consumer sentiment tumbled in early January to its lowest level since President Donald Trump was elected more than two years ago as a partial shutdown of the federal government and financial market volatility stoked fears of a sharp deceleration in economic growth. The drop in confidence reported by the University of Michigan on …