Jordan’s high and rising public debt has worried the International Monetary Fund and prompted a downgrade from Standard & Poor’s. So the government is planning a blast of austerity by year-end. Tax hikes and subsidy cuts —- likely to be highly unpopular —- are on the agenda as the country’s …
An unprecedented Chinese financial and construction effort is rapidly developing Pakistan’s strategically located Arabian Sea port of Gwadar into one of the world’s largest transit and transshipment cargo facilities. The deep water port lies at the convergence of three of the most commercially important regions of the world, the oil-rich …
The U.S. economy is expected add another 11.5 million jobs by 2026, as an aging population and longer life spans raise the need for health care providers. The total U.S. workforce is expected to grow to 167.6 million people. Tuesday’s projections come from the U.S. Bureau of Labor Statistics, which …
The sloping vineyards of New York’s Finger Lakes region known for producing golden-hued rieslings and chardonnays also are offering a splash of orange wine. The color comes not from citrus fruit, but by fermenting white wine grapes with their skins on before pressing – a practice that mirrors the …
A bakery in a low-income area of Johannesburg slashed prices of its popular bread, with unexpected results. What started as a way to help feed the community became a recipe for success as the bakery has a lot more business than ever. VOA’s Arash Arabasadi reports. ((NARRATOR)) …
President Donald Trump is considering nominating Federal Reserve Governor Jerome Powell and Stanford University economist John Taylor for the central bank’s top two jobs, in an apparent bid to reassure markets and appease conservatives hungry for change. Under that scenario, either Powell or Taylor would take the reins from Fed …
Turkey’s banking regulator urged the public on Saturday to ignore rumors about financial institutions, in an apparent dismissal of a report that some Turkish banks face billions of dollars of U.S. fines over alleged violations of Iran sanctions. “It has been brought to the public’s attention that stories, that are …
Hong Kong’s last remaining stock market floor traders are taking their final orders as the exchange prepares to shut its trading hall. The bourse’s operator, Hong Kong Exchanges & Clearing, says it will close the trading hall by the end of the month and turn the space into a showcase …
A California judge on Friday threw out a $417 million verdict against Johnson & Johnson in a lawsuit by a woman who claimed she developed ovarian cancer after using its talc-based products like Johnson’s Baby Powder for feminine hygiene. The ruling by Los Angeles Superior Court Judge Maren Nelson marked …
Running 1,300 kilometers over the world’s highest mountain pass, the “Friendship,” or Karakoram, Highway is evidence of China’s willingness to spend big as a contributor to global development. Costing tens of billions of dollars, the road links western China with Pakistan, part of Beijing’s “One Belt One Road” Initiative, which …
A mass transit strike in the Philippines this week risks more disruptive collective action unless drivers and the government settle differences over costly upgrades to an aging yet iconic vehicle fleet, analysts say. Thousands of drivers and operators of “jeepneys” went on strike Monday and Tuesday. The government called for …
Kenya’s economy is expected to grow next year by 5 percent, down from a projected 6 percent, according to the International Monetary Fund. The slowdown is largely blamed on the political uncertainties related to the re-run presidential election scheduled for October 26. Mohammed Yusuf reports from Kisumu, an opposition stronghold …
When the new school year started in September, 16-year-old Aelina Pogosian couldn’t wait to tell her friends about the most interesting part of her summer vacation: her RISE internship, working three weeks in the biology lab at Montgomery College. “A lot of the materials and machinery we used is not …
The last mass-produced car designed and built in Australia rolled off General Motors Co.’s production line in the industrial city of Adelaide on Friday as the nation reluctantly bid farewell to its auto manufacturing industry. GM Holden Ltd., an Australian subsidiary of the U.S. automotive giant, built its last car …
In Iraq, young entrepreneurs cash-in on a food trend popularized in the West. Trucks serving American-style fast food serve meals on-the-go and opportunities for those hungry for work. Arash Arabasadi reports. …
The Dow Jones Industrial Average closed above 23,000 for the first time on Wednesday, driven by a jump in IBM after it hinted at a return to revenue growth. The Dow hit 22,000 on Aug. 2, only 54 trading days earlier and roughly half the time it took the index …
Every month, Fatma Ahmed sends $200 of the earnings she makes in London to her family in Somalia. “It’s for daily life. For rent, for buying grocery things, to live over there. Because actually in Somalia, that much we do not have,” she said. Remittances from overseas diaspora constitute a …
Remittances from overseas diaspora constitute a vital part of the economy of many developing nations, none more so than Somalia, where the inflows add up to more than foreign aid and investment combined. But analysts warn the industry is poorly understood by regulators and banks — and its precarious nature …
A Geneva trade official says China and Taiwan have joined many U.S. allies including Israel at the World Trade Organization to express concerns over a Trump administration executive order that seeks to maximize use of American-made goods, products and materials in government procurement. The 10 WTO members, also including the …
Canada’s foreign minister says there are “unconventional” and “troubling” proposals on the table as Canada, the United States and Mexico seek to update the North American Free Trade Agreement. The fourth round of talks on revising the 23-year-old NAFTA deal wrapped up Tuesday, with more talks set for Mexico next …
U.S. homebuilders are feeling more optimistic than they have in months, looking past a recent slowdown in new home sales and the risk of rising labor and materials costs following hurricanes Harvey and Irma. The National Association of Home Builders/Wells Fargo builder sentiment index released Tuesday rose four points to …
U.S. President Donald Trump’s net worth declined by some $600 million to $3.1 billion in the past year, according to Forbes magazine. The biggest contributing factor to Trump’s declining fortune was his real estate holdings, much of which is in New York City. Several of his Manhattan properties have declined …
The church was empty, except for the piano too heavy for one man to move. It had been 21 days since the greatest storm Wayne Christopher had ever seen dumped a year’s worth of rain on his town, drowning this church where he was baptized, met his high school sweetheart …
For months, the outlook for the eurozone economy has brightened thanks to a series of electoral defeats for populist parties in key states like France. Now, following votes in Germany and Austria and the uncertainty over the Spanish region of Catalonia, concerns are growing again about the potential impact of …
The world economy is the healthiest it’s been in years but could still use a little help from low-interest rates and higher government spending from countries that can afford it, the International Monetary Fund says. “There was a strong consensus that the global outlook is strengthening,” said Agustin Carstens, …
Throughout Northern California, where wildfires have raged for almost a week, killing at least 36 people and destroying about 6,000 buildings, residents are taking stock of what they have and what they have lost. Many are feeling lucky to have survived with their lives. The fire’s path of destruction lacked …