In a historic move, the African Union has secured a permanent place in the Group of 20, also known as the G20, a development that could have major implications for…
more ...EU Lowers 2023-2024 Economic Forecasts
The European Commission – the European Union’s executive branch – has downgraded its economic forecast for the Eurozone, saying inflation is still too high, consumer spending is down and Germany,…
more ...Maui Beckons Tourists, And Their Dollars, To Stave Off Economic Disaster After Wildfires
Richie Olsten has been in Maui’s helicopter tour business for a half century, so long he’s developed a barometer for the tourism-dependent economy: rental cars parked at the island’s airport.…
more ...Understanding the G20 and Expectations for the Upcoming Summit
Established in 1999, the group of 20 – also known as G20 – is an informal gathering between heads of state from 20 of the world’s largest economies. While the…
more ...US Business Delegation Makes Rare Visit to Taliban-Run Afghanistan
An American private sector delegation opened meetings in Afghanistan with officials and local counterparts Wednesday in the first interaction since the Taliban seized power from a U.S.-backed government two years…
more ...UN Report: Invasive Species Costs Global Economy $423 BLN Per Year
Fishing grounds choked by water hyacinths. Songbird eggs gobbled up by rats. Power plant pipes clogged by zebra mussels. And electrical lines downed by brown tree snakes. These are just…
more ...Why is China’s Economy Slowing Down? Could It Get Worse?
China’s economic growth is slowing down as policymakers try to fix a property market downturn, with troubles at major developer Country Garden in focus. Concerns are mounting over whether the…
more ...Pakistan Merchants Close Shops to Protest Soaring Cost of Living
Merchants throughout Pakistan closed their shops Saturday to protest the country’s steep electricity bills and mounting inflation. The general public has already mounted protests about Pakistan’s soaring cost of living. …
more ...Taliban Sign Multibillion-Dollar Afghan Mining Deals
Afghanistan’s Taliban announced Thursday they have signed more than $6.5 billion worth of mining contracts with local and foreign companies from China, Iran, Turkey and Britain. Shahabuddin Dilawar, the Taliban…
more ...US Commerce Secretary Wraps Up China Visit With Commitments for More Talks
U.S. Commerce Secretary Gina Raimondo wrapped up a four-day visit to China on Wednesday in the latest move by U.S. President Joe Biden’s administration to stabilize commercial and trade links…
more ...Chinese Demand for Steel Not as Dire as Data Suggests, Brazil Miner Says
Brazilian mining company Vale SA sees declining steel demand in China, the world’s largest producer, but the situation is not as dire as some indicators suggest, the company’s vice president…
more ...Support Grows for Sustainable Development, a ‘Bioeconomy,’ in the Amazon
If all goes according to plan, in a few weeks people will be sipping a shake that Marcelo Salazar has been developing for three years, made from the Amazon jungle’s…
more ...Thailand’s Droughts Could Damage Economy, Increase Poverty, Experts Say
Record-breaking temperatures, reduced rainfall and changes in the natural climate are set to damage Thailand’s economy and increase poverty, experts say. Thailand is suffering from droughts caused by the El…
more ...Trump, Biden Policies Shifted Trade from China, Study Shows
U.S. trade has shifted away from China due to policies enacted by the Biden and Trump administrations, but U.S. reliance on China-linked supply chains has not necessarily been reduced and…
more ...Protests in Syria’s Southern Druze Enclave Appear To Be Gaining Momentum
A crowd of what appeared to be several hundred protesters in the southern Druze city of Suwaida, Syria, chanted slogans targeting the Syrian government Saturday on the seventh day of…
more ...Fed’s Powell: Higher Rates May Be Needed, Will Move ‘Carefully’
The Federal Reserve may need to raise interest rates further to cool still-too-high inflation, Fed Chair Jerome Powell said on Friday, promising to move with care at upcoming meetings as…
more ...China Tries To Defuse Economic Fears After Developer’s Debt Struggle
China’s government is trying to reassure jittery homebuyers after a major real estate developer missed a payment on its multibillion-dollar debt, reviving fears about the industry’s shaky finances and their…
more ...Evergrande Seeks US Court Nod for $32B Debt Overhaul as China Economic Fears Mount
Embattled developer China Evergrande Group has filed for bankruptcy protection in a U.S. court as part of one of the world’s biggest debt restructuring exercises, as anxiety grows over China’s…
more ...China’s Xi Calls for Patience Amid Economic Slump
Chinese leader Xi Jinping has called for patience in a speech released as the ruling Communist Party tries to reverse a deepening economic slump and said Western countries are “increasingly…
more ...Despite Improving Indicators, Biden Still Scores Low on Economy
One year after passing the Inflation Reduction Act, President Joe Biden is in Wisconsin touting the success of his ‘Bidenomics.’ But despite legislative wins and improving economic indicators, the president…
more ...China Cuts Key Rates as Weak Batch of July Data Darkens Economic Outlook
A broad array of Chinese data on Tuesday highlighted intensifying pressure on the economy from multiple fronts, prompting Beijing to cut key policy rates to shore up activity but analysts…
more ...Russia’s Ruble Hits Its Lowest Level Since Early in Ukraine War
The Russian ruble on Monday reached its lowest value since the early weeks of the war in Ukraine as Moscow increases military spending and Western sanctions weigh on its energy…
more ...Rising Prices for Travel Yet to Curb Wanderlust
The post-pandemic travel boom and the high ticket prices that come with it show no signs of slowing well into next year, despite economic uncertainty and dwindling household savings. While…
more ...Audit of Lebanon’s Central Bank Finds Misconduct, ‘Illegitimate’ Commissions
A forensic audit into Lebanon’s central bank by a New York-based company has revealed yearslong misconduct by the bank’s former governor and $111 million in “illegitimate commissions,” according to a…
more ...China’s Slide Into Deflation Raises Concerns About Economic Future
After months of concern that the Chinese economy was teetering on the brink of potentially damaging deflation, Beijing’s National Bureau of Statistics this week made it official, reporting that overall…
more ...US Consumer Prices Edged Higher in July
U.S. consumer prices edged higher in July, the government reported Thursday, but underlying data signaled that inflation is not starting to resurge in the world’s biggest economy. The Labor Department…
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