Washington — The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates. Thursday’s report…
more ...Some US states purge Chinese companies from investments amid tensions with China
JEFFERSON CITY, Mo. — As state treasurer, Vivek Malek pushed Missouri’s main retirement system to pull its investments from Chinese companies, making Missouri among the first nationally to do so. Now…
more ...India to spend billions of dollars on job creation
New Delhi — The government in India will spend $24 billion on boosting employment opportunities for young people, as job creation emerges as the biggest challenge confronting Prime Minister Narendra Modi…
more ...South Africa presses to maintain preferred trade status with US
Johannesburg — Some members of the U.S. Congress have called for South Africa to be excluded from the African Growth and Opportunity Act, a U.S. program that grants duty-free access to…
more ...Iraq to import electricity from Turkey
Baghdad — Iraq said Sunday a new power line will bring electricity from Turkey to its northern provinces as authorities aim to diversify the country’s energy sources to ease chronic power…
more ...Mayor: Barcelona will raise tourist tax for cruise passengers
Madrid — Barcelona will raise the tourist tax for cruise passengers visiting the city for less than 12 hours, the mayor said in an interview published on Sunday. Jaume Collboni said…
more ...African aviation conference ends with pledges to improve travel
Moki Edwin Kindzeka — Participants in Africa-Indian Ocean Aviation Week this week in Libreville, Gabon, say they’ve produced a plan to make continentwide improvements to aviation development and safety. Some 350 representatives from…
more ...China vows to boost economic growth by balancing reform, national security
TAIPEI, TAIWAN — China’s ruling Communist Party concluded a highly anticipated party conclave Thursday, promising to boost economic growth through comprehensive reform while reiterating the importance of maintaining national security. The…
more ...China’s Third Plenum does nothing to revive economy, observers say
Taipei, Taiwan — China’s ruling party has concluded the Third Plenum of its 20th Central Committee with a communique described as vague and cliché by China watchers, who said it lacks…
more ...US appeals court blocks remainder of Biden’s student debt plan
WASHINGTON — A federal appeals court blocked the implementation of the Biden administration’s student debt relief plan, which would have lowered monthly payments for millions of borrowers. In a ruling Thursday,…
more ...Nigeria to resume crude oil refining in August, industry authorities say
Abuja, Nigeria — Nigeria plans to resume local refining of crude oil in early August, national petroleum authorities announced Monday. The resumption would end years of idleness at Nigeria’s state-owned refineries,…
more ...IMF should work with Kenya to account for public funds, says rights group
Nairobi, Kenya — Advocacy group Human Rights Watch called Tuesday for greater accountability of public funds in Kenya, framing it partially as a human rights issue. Kenyans have taken to the…
more ...Chinese e-commerce companies popular in South Africa
Johannesburg — Rotondwa Mbadaliga is a self-professed “shopping addict.” The 25-year-old South African fashion influencer says she is a huge fan of Chinese-linked e-commerce companies Shein and Temu because…
more ...Cash-starved Pakistan acquires $7 billion IMF loan
ISLAMABAD — Pakistan said Saturday that a newly secured multibillion-dollar loan from the International Monetary Fund would help improve the cash-starved country’s macroeconomic stability. The official reaction came hours after the…
more ...US consumer inflation eases to 3.0% in June
Washington — U.S. inflation edged down in June as analysts expected, government data showed Thursday, a reassuring development for President Joe Biden as he fights to win confidence on his economic…
more ...Namibia struggles with growing seal population that threatens fishing industry
Windhoek, Namibia — Namibia will attempt to reduce the local seal population by 80,000 this year, officials recently announced, despite opposition from animal rights groups. The Ministry of Fisheries and Marine…
more ...Kenyan president warns of huge consequences over debt plan failure
NAIROBI, Kenya — The ballooning debt in East Africa’s economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President…
more ...Burkina Faso’s internally displaced scramble to make a living
Burkina Faso is home to many people internally displaced by years of insecurity and conflict. Most of them live in various towns across the country, and some are now trying…
more ...Federal Reserve’s Powell says US making ‘modest’ progress on inflation
Washington — The U.S. Federal Reserve is making “modest” progress in its inflation fight, the head of the U.S. central bank told lawmakers Tuesday, on the first of two days of…
more ...Kenyan president bows to pressure, makes major concessions
Nairobi, Kenya — Kenyan President William Ruto on Friday ordered significant cuts in the federal budget along with other government reforms to pay off a crushing debt burden in a move…
more ...Sri Lanka to save $5bn from bilateral debt deal
Colombo, Sri Lanka — Sri Lanka will save $5 billion following the restructure of its bilateral debt, much of which is owed to China, through slashed interest rates and longer repayment…
more ...US manufacturing contraction deepens in June
Washington — U.S. manufacturing activity edged lower in June, deepening a recent slump on continued weak demand, according to industry survey data published Monday. The Institute for Supply Management’s (ISM) manufacturing…
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