The global economy was gripped by an economic crisis in 2022, as the aftermath of the coronavirus pandemic was exacerbated by Russia’s invasion of Ukraine – which sent energy prices…
more ...349 Million People Suffering From Acute Food Insecurity
The United Nations says high food prices in 2022 led to a crisis of affordability that has pushed millions more people into hunger. VOA U.N. Correspondent Margaret Besheer talks to…
more ...Chinese-Funded Projects Deepen Sri Lanka’s Economic Woes
During the past decade, China funded the construction of massive infrastructure projects in Sri Lanka meant to boost the island nation’s economy. However, after the economic collapse of the tiny…
more ...Global Holiday Travel Soars
Across the globe, people are on the move as a hectic Christmas and New Year’s holiday travel season is in full swing. December and January are among the busiest months…
more ...Nigeria’s Central Bank Raises Cash Withdrawal Limits After Public Outcry
The Central Bank of Nigeria has raised the maximum weekly limit for cash withdrawals after a public uproar over the caps it announced two weeks ago. The new limit is…
more ...Tariff Hike Squeezes Struggling Lebanese as Reforms Stall
Every time a part of his old grey Mercedes breaks, 62-year-old Beirut cab driver Abed Omayraat faces a tough choice: go into debt to import an expensive car part, or…
more ...Americans Reflect on a Challenging Economic Year
“I feel anxious about inflation every time I go to the grocery store,” Caroline Fitzsousa, a bar manager in Baltimore, Maryland, told VOA. “And at work, my customers aren’t happy…
more ...US Stocks Sink as Fed Signals It Will Remain Aggressive
Stocks tumbled on Wall Street and across European markets Thursday as investors grew increasingly concerned that the Federal Reserve and other central banks are willing to risk a recession to…
more ...Botswana Communities Earn $5 Million Through Elephant Hunting
Botswana’s government says rural communities have earned $5 million since last year from the proceeds of elephant hunting. Conservationists object to the practice, but local officials say the hunts are…
more ...Biden Touts Billions in US-Africa Deals at Summit of 50 African Delegations
President Joe Biden enumerated billions of dollars’ worth of U.S. investments in Africa in remarks to African leaders and the continent’s business community at a three-day summit. VOA White House…
more ...Fed Lifts Rates by Half Percentage Point, Sees Economy Nearing Stall Speed
The Federal Reserve raised interest rates by half a percentage point on Wednesday and projected at least an additional 75 basis points of increases in borrowing costs by the end…
more ...Forecasts Show India May Become World’s Third Largest Economy by 2030
India’s economy is posting the fastest growth among major economies putting it on track to become the world’s third largest before the end of the decade, according to financial forecasts.…
more ...COVID Restrictions Lifted, China’s Businesspeople Hit the Road to Revive Export Economy
Yiwu, a city in China’s Zhejiang province, produces more than half the world’s Christmas ornaments purchased by the billions of people who celebrate the holiday. China’s “zero-COVID” policy, coupled with…
more ...Increase in US Consumer Prices Eased in November
The increase in U.S. consumer prices eased again in November, rising at their slowest pace since last December, the Labor Department reported Tuesday. The consumer price index climbed 7.1% in…
more ...SEC Charges Former FTX CEO With Defrauding Crypto Investors
The U.S. Securities and Exchange Commission has charged the former CEO of failed cryptocurrency firm FTX with orchestrating a scheme to defraud investors. An SEC complaint filed Tuesday alleges that…
more ...In Wider Diversity Push, Norway Proposes 40% Gender Quota for Large Unlisted Firms
Large private Norwegian firms must have boards that comprise at least 40% of women or they will be shut down, the government proposed in a bill on Monday, in a…
more ...US Inflation Will Be Much Lower by End of 2023 – Yellen
U.S. Treasury Secretary Janet Yellen on Sunday forecast a substantial reduction in U.S. inflation in 2023, barring an unexpected shock. “I believe by the end of next year you will…
more ...Saudi Energy Minister Sees No Clear Results Yet From Russia Price Cap
Saudi energy minister Prince Abdulaziz bin Salman said Sunday the impact of European sanctions on Russian crude oil and price cap measures “did not bring clear results yet” and its…
more ...UAE, Ukraine to Start Talks on Bilateral Trade Deal
The United Arab Emirates and Ukraine on Monday announced their intention to start negotiations on a bilateral trade deal, expected to conclude by the middle of next year, the UAE…
more ...Growth in Arms Trade Stunted by Supply Issues: Report
Sales of arms and military services grew in 2021, researchers said Monday, but were limited by worldwide supply issues related to the pandemic, with the war in Ukraine increasing demand…
more ...EU Chief Says Bloc Must Act Over US Climate Plan ‘Distortions’
EU chief Ursula von der Leyen said Sunday the bloc must act to address “distortions” created by Washington’s $430-billion plan to spur climate-friendly technologies in the United States. The European…
more ...Sources: OPEC+ Agrees No Change to Oil Policy
OPEC+ agreed to stick to its oil output targets at a meeting on Sunday, two OPEC+ sources told Reuters. The decision comes two days after the Group of Seven (G-7)…
more ...Biden Signs Bill to Block US Railroad Strike
President Joe Biden signed legislation Friday to block a national U.S. railroad strike that could have devastated the American economy. The U.S. Senate voted 80 to 15 on Thursday to…
more ...US Job Growth Beats Expectations; Unemployment Rate Steady At 3.7%
U.S. employers hired more workers than expected in November and raised wages despite mounting worries of a recession, which could complicate the Federal Reserve’s intention to start slowing the pace…
more ...US Central Bank Hints at Less Severe Interest Rate Hikes
The U.S. central bank could scale back the pace of its interest rate hikes “as soon as December,” Federal Reserve Chair Jerome Powell said on Wednesday, while warning that the…
more ...Cyber Monday Deals Lure In US Consumers amid High Inflation
Days after flocking to stores on Black Friday, consumers are turning online for Cyber Monday to score more discounts on gifts and other items that have ballooned in price because…
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