South Korea has charged a former Samsung executive accused of stealing company secrets worth hundreds of millions of dollars to set up a copycat chip factory in China, prosecutors told…
more ...Canadian Wildfires Shutter Sawmills, Drive Up Lumber Prices
Canada’s worst-ever spring wildfire season has forced its forestry industry to shutter sawmills, driving up lumber prices and setting production back for months just as housing construction has slowed due…
more ...Can Russian Crude Ease Pakistan’s Economic Woes?
Pakistani authorities are touting the arrival of the first shipment of discounted Russian crude oil as “transformative,” however, analysts say the extent of relief it will bring the country’s crisis-riddled…
more ...Value of Zimbabwe’s Currency Keeps Plunging Despite Rescue Attempts
Zimbabwe’s central bank’s efforts to arrest the sharp depreciation of the country’s dollar seem to be failing as the currency took a nosedive and was trading Monday at more than…
more ...Borrowers Worry as Pause on US Student Loan Payments Nears End
In a good month, Celina Chanthanouvong has about $200 left after rent, groceries and car insurance. That doesn’t factor in her student loans, which have been on hold since the…
more ...Russian Trade Rises Despite Sanctions, as NATO Member Turkey Offers ‘Critical Lifeline’
Despite Western attempts to stifle Russia’s economy through sanctions following its invasion of Ukraine last year, Russian trade volumes with dozens of countries have actually increased since the war began…
more ...Pakistani Charities Burdened by Record Inflation
Pakistanis traditionally give generously to charity, but most avoid paying taxes. Now, charities are feeling the pressure as donations drop amid record-setting 38% inflation. Low tax collection, meanwhile, hurts economic…
more ...China’s Targeting of US Firms Politically Motivated, US Ambassador Says
The United States will push back on China’s targeting of American firms, which Washington considers politically motivated and unfair, U.S. Ambassador to China Nicholas Burns said on Wednesday. Several U.S.…
more ...New Nigerian President Says He Will Remove Fuel Subsidy
After his May 29 inauguration, Nigerian president Bola Tinubu announced he would soon end a decades-old fuel subsidy, saying the country can no longer afford the cost. His comments sparked…
more ...OECD Slightly Raises World GDP Growth Forecast to 2.7%
The OECD slightly raised its growth outlook for the world economy on Wednesday as inflation eases and China has dropped COVID restrictions, but it warned the recovery faces a “long…
more ...World Bank Lifts 2023 Global Growth Forecasts, But Cuts Next Year’s Outlook
The World Bank on Tuesday raised its 2023 global growth forecast as the U.S. and other major economies have proven more resilient than predicted but said higher interest rates would…
more ...What’s Behind the Decline in Limousine Demand?
Stretch limousines — once a symbol of the rich and famous — are now rarely seen on the roads and at red carpet events. Karina Bafradzhian investigates why demand for limousines has declined.…
more ...Strong US Jobs Report Cheers Biden, Raises Questions for Fed
The labor market in the United States continued to defy expectations in May, adding 339,000 new jobs. The figure was far above what economists had expected and signals that ongoing…
more ...Biden Delivers Oval Office Remarks on US Avoiding Default
President Joe Biden delivered remarks Friday evening on the Fiscal Responsibility Act, bipartisan legislation achieved following weeks of tough negotiations that suspends the government’s debt limit and avoids a potentially…
more ...Biden to Deliver Remarks on US Avoiding Default
President Joe Biden is set to sign the Fiscal Responsibility Act, legislation that suspends the U.S. government’s debt limit through January 2025 and avoids a potentially disastrous default on U.S.…
more ...US Employers Added 339,000 Jobs in May as Labor Market Stays Durable
The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations and evidence of strength in an economy that the Federal Reserve is desperately…
more ...Developing Nations Struggle to Return Employment to Pre-Pandemic Levels
A combination of crises, including high indebtedness, global inflation, the war in Ukraine, and a slow recovery from the COVID-19 pandemic has left many countries in the developing world without…
more ...US Senate Now Considering House-Approved Debt Ceiling Deal
The U.S. Senate could vote as soon as Thursday on a measure to suspend the government’s borrowing limit until early 2025 to avert a first-ever default when the United States…
more ...Zimbabwe Government Moves to Rescue Worthless Local Dollar
Zimbabwe’s government has instituted several measures it says will increase demand for the local currency and raise its value, as well arrest demand for the U.S. dollar. But as Columbus…
more ...US House of Representatives Approves Debt Ceiling Deal
The U.S. House of Representatives approved legislation to suspend the government’s borrowing limit until early 2025, a step toward averting a Washington political showdown five days before the country could…
more ...US House of Representatives to Vote on Debt Ceiling Deal
The U.S. House of Representatives is moving toward a Wednesday evening vote on legislation to suspend the government’s borrowing limit until early 2025, a Washington political showdown occurring just five…
more ...Kenyan Workers Seek Opportunities Abroad Despite Safety, Rights Concerns
The Kenyan government says it has entered or plans to enter labor agreements with Canada, Germany, the United States, and certain Persian Gulf nations. The agreements aim to ease the…
more ...US Lawmakers Consider Debt Ceiling Deal
Lawmakers in the U.S. House of Representatives are starting Tuesday to consider legislation to suspend the government’s $31.4 trillion debt ceiling until early 2025 so it can borrow more money…
more ...US Leaders Urge Lawmakers to Approve Debt Ceiling Deal
U.S. lawmakers are examining the details of an agreement to increase the country’s borrowing limit ahead of votes expected in the coming days, as both President Joe Biden and House…
more ...Amid Some Objections, Confidence on US Debt Ceiling Deal Grows
Republican and Democratic House leaders expressed optimism Sunday that they will get enough votes in favor of raising the debt ceiling. VOA’s Veronica Balderas Iglesias has details on a deal…
more ...China’s 1st Domestically Made Passenger Plane Makes Inaugural Flight
China’s first domestically made passenger jet flew its maiden commercial flight Sunday, as China looks to compete with industry giants such as Boeing and Airbus in the global aircraft market.…
more ...
