Pakistan Railway Revival Clashes With Shanty Towns

After many false starts, plans to resurrect a railway in Pakistan’s teeming metropolis of Karachi are moving ahead with the help of Chinese cash. Not everyone is happy. The Chinese-funded $2 billion project to revive Karachi Circular Railways (KRC), nearly two decades since it was shut down, has been touted as a way to ease pollution and chronic congestion in the port city of 20 million people. It is also…

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Petrobras Argentina Sale Under Scrutiny in Brazil

Brazilian prosecutors plan to investigate last year’s controversial sale of the Argentine subsidiary of Petrobras, Brazil’s state-controlled oil company, a lawyer representing some Petrobras shareholders said on Wednesday. Petrobras, formally known as Petroleo Brasileiro SA , sold its 67.2 percent stake in Petrobras Argentina SA for $892 million to Pampa Energia SA, Argentina’s largest power company. The sale has already drawn scrutiny from Brazil’s Congress and a federal audit court,…

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As Rural Sri Lanka Dries Out, Young Farmers Look for Job Options

Scorched by a 10-month drought that has killed crops and reduced residents to buying trucked-in water, Adigama’s young people are voting with their feet. At least 150 youth have left this agricultural village 170 kilometers northwest of Sri Lanka’s capital since the drought began, looking for jobs in the country’s cities, or overseas, village officials say. Few are expected to come back, even when the rains end. “If they get…

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Trump Dissolves Business Advisory Councils After CEOs Quit in Protest

U.S. President Donald Trump continues to face a barrage of criticism for his contention that both white supremacists and counterprotesters were to blame for the deadly violence that erupted last weekend in Charlottesville, Virginia. On Wednesday, the president announced that he had dissolved two business advisory committees composed of top American corporate executives, after at least seven CEOs announced they were resigning from the councils because of his remarks. Trump…

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Trump Dissolves Business Advisory Councils After CEO Resignations

U.S. President Donald Trump continues to face a barrage of criticism for his contention that both white supremacists and counterprotesters were to blame for the deadly violence that erupted last weekend in Charlottesville, Virginia. On Wednesday, the president announced that he had dissolved two business advisory committees made up of top American corporate executives, after at least seven CEOs announced they were resigning from the councils because of his remarks….

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Canada Approves First Cryptocurrency Sale in Property Rights Shake-Up

Canadian financial regulators have approved the public sale of a new digital currency in the country’s first official endorsement of money created independently of the government or central banks, company officials said on Wednesday. Produced with digital encryption techniques, cryptocurrencies like Montreal-based impak Coin allow users to create their own money supply – with potentially significant impacts for how wealth and property rights are controlled. Impak Coin has already raised…

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US Trade Envoy Says NAFTA Has ‘Failed’ Americans

U.S. President Donald Trump’s top trade official laid down a hard negotiating line for revamping the North American Free Trade Agreement on Wednesday, saying that major changes were needed to slash U.S. trade deficits and boost U.S. content in autos. U.S. Trade Representative Robert Lighthizer said NAFTA had “failed many, many Americans” and Trump was not interested in merely tweaking the 23-year-old pact, and would seek major changes that would…

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Trump Goes After Amazon, Again

President Donald Trump is renewing his attacks on e-commerce giant Amazon, and he says the company is “doing great damage to tax paying retailers.”   Trump tweets that “towns, cities and states throughout the U.S. are being hurt – many jobs being lost!” The president has often criticized the company and CEO Jeff Bezos, who also owns The Washington Post.   Many traditional retailers are closing stores and blaming Amazon…

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Defector: UN Sanctions Would Play Havoc With North Korean Economy

The impact of the latest round of U.N. sanctions leveled against North Korea could be greater than the projected $1 billion cut in its export revenue if fully implemented, a high-profile North Korean defector told VOA’s Korean Service, and this would deal a significant financial blow to a regime intent on advancing its nuclear and missile programs. “The new U.N. restrictions are perhaps the strongest sanctions ever imposed on Pyongyang…

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Brazil Lawmakers Seek $1B in Taxpayer Money for Election Campaigns

Brazilian lawmakers facing a dearth of financing for their re-election campaigns next year proposed on Tuesday creating a fund of 3.6 billion reais ($1.1 billion) in taxpayer money to help their parties foot the bills. The Supreme Court banned corporate donations to campaigns in 2015, drastically reducing political fund-raising. On top of that, a massive investigation into endemic corruption in the country has uncovered a web of political bribes and…

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