In a grim report issued last week, the World Bank warned of a slow-growth crisis in the global economy that could persist over the coming decade unless governments worldwide adopt…
more ...McDonald’s Briefly Closes US Offices Ahead of Layoffs
McDonald’s announced Monday plans to lay off a number of corporate employees and closed U.S. offices through Wednesday as the company prepares to deliver the notifications as part of a…
more ...Oil Producers’ Cuts Could Boost Gasoline Prices, Help Russia
Major oil-producing countries led by Saudi Arabia said they’re cutting supplies of crude — again. This time, the decision was a surprise and is underlining worries about where the global…
more ...Beijing’s Contradictory Signals May Deter Foreign Investment, Experts Say
Beijing is sending conflicting signals to foreign companies by telling those offshore that the country is reopening while arresting employees of foreign companies already operating in China, experts say. The…
more ...IMF Approves $15.6 Billion Ukraine Loan Package
The International Monetary Fund has approved a $15.6 billion support package for Ukraine to assist with the conflict-hit country’s economic recovery, the fund said in a statement Friday. Russia’s invasion…
more ...Hundreds of Companies Take Part in Nairobi Business Conference
More than 700 delegates and 300 companies participated in the third edition of the American Chamber of Commerce summit in the Kenyan capital, Nairobi, organizers said. U.S. government and private…
more ...What Is the Signal Sent by Return to China of Alibaba’s Founder?
Jack Ma, one of China’s most prominent entrepreneurs, returned to China this week after traveling overseas for more than a year, in what is being interpreted as evidence of an…
more ...Ukrainian Grain Lowers Prices, Triggers Protests in Poland, Bulgaria
Poland’s agriculture minister promised financial support from the government and the European Union and easier rules for constructing grain storage as he met Wednesday with farmers angered by falling grain…
more ...Fed Official Tells US Congress Many to Blame for Silicon Valley Bank Failure
The scope of blame for Silicon Valley Bank’s failure stretches across bank executives, Federal Reserve supervisors and other regulators, the banking system’s top cop on Wednesday told U.S. lawmakers demanding…
more ...‘What Can We Do?’: Millions in African Countries Need Power
From Zimbabwe, where many must work at night because it’s the only time there is power, to Nigeria where collapses of the grid are frequent, the reliable supply of electricity…
more ...US Regulators: Banking System ‘Sound and Resilient’
The multi-regulator U.S. Financial Stability Oversight Council (FSOC) agreed Friday that the U.S. banking system remains “sound and resilient” despite stress on some institutions, the U.S. Treasury said in its…
more ...China Said to Ask Domestic Firms to Shun Big Four Accountants
In a possible sign that the so-called “decoupling” of the U.S. and Chinese economies is continuing, a recent media report said that the Chinese government has urged large state-owned enterprises…
more ...Survey: Business Economists Push Back US Recession Forecasts
A majority of the nation’s business economists expect a U.S. recession to begin later this year than they had previously forecast, after a series of reports have pointed to a…
more ...Pipeline Debate at Center of California Carbon Capture Plans
In its latest ambitious roadmap to tackle climate change, California relies on capturing carbon out of the air and storing it deep underground on a scale that’s not yet been…
more ...Pakistan Will Unwillingly Accept Strict Conditions of IMF Deal, PM Says
Pakistan has to unwillingly accept the strict conditions of a deal with the International Monetary Fund (IMF) to provide a lifeline for an economy in turmoil, Prime Minister Shehbaz Sharif…
more ...Russia’s Ukraine War Rattles Energy Sector, But Not How Moscow Wants
Russia’s invasion of Ukraine nearly a year ago has profoundly affected how the world powers itself. …
more ...Survey Shows Russians Increasingly Confident About Economic Future
The extensive sanctions imposed on Russia after its invasion of Ukraine one year ago have not led to the decimation of the Russian economy, as many experts had predicted. As…
more ...Russia’s Ukraine War Shakes Up the Energy World, But Not How Moscow Wants
Moscow’s invasion of Ukraine a year ago has had profound impacts on how the world powers itself. VOA’s Steve Baragona explains. …
more ...Ghana’s Farmers Switch to Crops Requiring Less Russian Fertilizer
Russia’s invasion of Ukraine a year ago saw a dramatic rise in the price of fertilizer for importers like Ghana, where farmers are struggling to cope. Ghana’s economic problems have…
more ...US Nominates Ajay Banga for World Bank President
The United States is nominating former Mastercard CEO Ajay Banga to lead the World Bank, President Joe Biden announced on Thursday, crediting him with critical experience on global challenges including…
more ...Pakistan to Cut Government Expenses by 15% in Austerity Drive
Pakistan Prime Minister Shehbaz Sharif has asked his ministers and advisers to fly economy class, forgo luxury cars and their salaries as part of an austerity drive that will save…
more ...Chinese Bank Seeks to Reassure over Missing Star Dealmaker
The disappearance of a star Chinese dealmaker has left his bank struggling to reassure clients and staff, people with knowledge of the matter said on Monday, and has heightened concerns…
more ...Iran’s Currency Falls to Record Low as Sanctions to Continue
Iran’s troubled currency broke below the psychologically key level of 500,000 rial per U.S. dollar on Monday, as market participants saw no end in sight to sanctions. The Iranian rial…
more ...At Job Fairs in China, Employers Are Thrifty, Applicants Timid
China’s job fairs are making a comeback after being forced online by COVID-19 for three years, but subdued wages and less abundant offerings in sectors exposed to weakening external demand…
more ...With COVID Travel Bans Lifted, Hong Kong-China ‘Parallel Import Trade’ Returns
Long before the pandemic shut down Hong Kong’s vibrant retail sector, traders from China crossed the border to purchase everything from cosmetics to cars tax-free for profitable reselling upon returning…
more ...Retail Sales Jump as Americans Defy Inflation, Rate Hikes
America’s consumers rebounded last month from a weak holiday shopping season by boosting their spending at stores and restaurants at the fastest pace in nearly two years, underscoring the economy’s…
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