Iraq says it will offer new oil and gas exploration rights as it looks to boost energy revenues to fund its war against the Islamic State group and shore up its finances amid low oil prices. Oil Minister Jabar Ali al-Luaibi said late Tuesday that his ministry plans to …
When Janet Yellen delivers her testimony on the Federal Reserve’s semiannual report to Congress on Wednesday, investors may listen as much for clues to her own future – and the Fed’s – as they will to what she says about interest rate policy. The Fed chair is likely to repeat …
Japanese car parts company Takata on Tuesday recalled another 2.7 million air bags that it previously thought were safe. The recall affects certain Ford, Mazda and Nissan cars from the 2005 through 2012 model years. Takata’s air bags are inflated by a chemical — ammonium nitrate — in emergency situations, …
How do you explain the European Central Bank’s capital key in 140 characters? Or the U.S. Federal Reserve’s dot plot? Difficult. But International Monetary Fund chief Christine Lagarde wants the world’s policymakers to try. At a conference in Croatia on Tuesday, Lagarde said convoluted fiscal and monetary policy proposals use …
Thailand’s Cabinet on Tuesday approved construction of the first phase of a $5.5-billion railway project to link the industrial eastern seaboard with southern China through landlocked Laos, as part of a regional infrastructure drive by Beijing. Prime Minister Prayuth Chan-ocha, who heads the Thai ruling junta, made use of an …
On the day they were freed from slavery, the fishermen hugged, high-fived and sprinted through a stinging rain to line up so they wouldn’t be left behind. But even as they learned they were going home, some wept at the thought of returning empty-handed and becoming one more mouth to …
Tanzanian President John Magufuli said on Monday he has signed into law new mining bills which require the government to own at least a 16 percent stake in mining projects. The laws, which also increase royalties tax on gold and other minerals, were passed by parliament last week despite opposition …
Tesla Inc. Chief Executive Elon Musk on Sunday tweeted pictures of the first Model 3 sedan to roll off the assembly line. Tesla board member Ira Ehrenpreis was the first to put down a $1,000 deposit on the Model 3 and gifted the car to Musk for his 46th birthday, …
Severe food crises are growing in Kenya and Somalia, as the Horn of Africa continues to receive below-normal rainfall, according to the Famine Early Warning Systems Network. The hunger-tracking group says 2.9 million people in Kenya and 3.2 million in Somalia are experiencing Phase 3 or higher on the network’s …
For a farmer in Brazil’s Amazon, Manoel Freire Camurca was doing pretty well for himself until a local power broker burned down his house and took the surrounding fields he had poured his life into. Camurca’s eviction eight months ago happened as officials were finalizing his claim to 500 hectares …
Top French company bosses who have for years lamented their country’s slow pace of reforms at an annual summer gathering in Provence offered glowing praise this year for the first steps taken by newly elected President Emmanuel Macron. Sixty days after Macron became France’s youngest ever president, the CEOs gathered …
In 28 years in India’s pharmaceuticals sector, Rajiv Desai has never been busier. Most of the last six months on his desk calendar is marked green, indicating visits to the 12 plants of Lupin, India’s No. 2 drugmaker, where Desai is a senior quality control executive. Only one day is …
Canadian lender Desjardins is considering no longer funding energy pipelines, a spokesman said Saturday, citing concerns about the impact such projects may have on the environment. Desjardins, the largest association of credit unions in North America, Friday temporarily suspended lending for such projects and may make the decision permanent, spokesman …
The G-20 summit of the world’s richest economies wrapped up Saturday against a backdrop of angry protests, and a pledge by leaders to fight protectionism in the face of U.S. President Donald Trump’s “America First” policy and Brexit. The U.S. leader took center stage at the two-day gathering, and his …
Visiting Poland this week, U.S. President Donald Trump pledged to boost exports of American liquefied natural gas (LNG) to Central Europe and take on Russia’s stranglehold on energy supplies. “America stands ready to help Poland and other European nations diversify their energy supplies so that you can never be held …
Visiting Poland this week, US President Donald Trump pledged to boost exports of American liquefied natural gas (LNG) to Central Europe, challenging Russia’s dominance of the market. Many European countries accuse Moscow of using energy as a political tool. As Henry Ridgwell reports from Warsaw, analysts say the United States …
Argentina on Friday banned embattled Brazilian construction conglomerate Odebrecht from bidding on public works projects in the country for 12 months due to investigations of bribes the company paid here and elsewhere. The announcement published in the government’s official bulletin also cites corruption and money laundering cases in Brazil …
London is a hotspot of modern slavery, with workers in hotels, restaurants and on construction sites at particular risk of exploitation, said the head of the Metropolitan police’s anti-slavery unit. Modern slavery cases surged in the first half of this year to about 820 by the end of June, compared …
No more mini-skirts and large earrings for female civil servants in Uganda. Male staff are now required to wear a jacket and tie. The Ugandan government instituted a new dress code for public workers this week, and it continues to anger some people. Women activists in Uganda have criticized the …
India-based Infosys, an information technology outsourcing firm, announced Thursday it will hire 2,000 workers over the next four years for a technology hub in North Carolina, the second of four planned hubs in the U.S. Infosys executives were joined by North Carolina Gov. Roy Cooper at a news conference …
The main points of market access in a trade deal between the South American Mercosur bloc and the European Union need to be concluded by December, Brazil’s chief negotiator said on Thursday. The EU and Mercosur have committed to a series of negotiations until the end of the year in …
U.S. Interior Secretary Ryan Zinke on Thursday signed an order to hold more lease sales and to speed up approving permits to explore for oil and gas on federal land, a process he said got bogged down under former President Barack Obama. The order is the latest move by the …
U.S. federal prosecutors say arts and crafts retailer Hobby Lobby has agreed to turn over thousands of ancient artifacts from the Middle East after the company illegally smuggled them into the country. In a civil complaint filed Wednesday, the prosecutors said in 2010 Hobby Lobby paid $1.6 million for 5,500 …
Britain will lose its status as Europe’s top financial center unless it keeps borders open to specialist staff, improves infrastructure and expands links with emerging economies, TheCityUK said in a report published Thursday. The report from Britain’s most powerful financial lobby group said continental Europe might eventually become the preferred …
Bolstering flood defenses and moving families away from risky areas are high on the agenda for Argentina’s Santa Fe as the river port city looks to grow its economy and improve its infrastructure under a new urban plan. The inland city of around 400,000 in Argentina’s Pampas region also aims …
A new report finds flourishing tourism in Africa is putting millions of people to work and adding billions of dollars to national economies. The UN Conference on Trade and Development’s annual Economic Development in Africa Report projects continued robust growth in tourism in the coming years. Growth figures in Africa’s …