The finance ministers of the Group of Seven leading industrial nations agreed Friday to move forward with an unprecedented plan to cap the price of oil that Russia sells on…
more ...Indonesia Hikes Fuel Prices by 30%, Cuts Energy Subsidies
Fuel prices increased by about 30% across Indonesia Saturday after the government reduced some of the costly subsidies that have kept inflation in Southeast Asia’s largest economy among the world’s…
more ...FAO: Lower Food Prices Not Helping Consumers
The U.N. Food and Agriculture Organization says consumers are not yet feeling the benefits of declining food prices. The FAO says world food commodity prices dipped for the fifth consecutive…
more ...US Job Growth Solid in August; Unemployment Rate Rises to 3.7%
U.S. employers hired slightly more workers than expected in August, keeping the Federal Reserve on track to deliver a third 75 basis points interest rate hike this month, though the…
more ...Zambia Receives IMF Bailout for Debt Reduction Plan
Zambia’s President Hakainde Hichilema has pledged to improve the country’s financial situation after it received a $1.3 billion bailout from the International Monetary Fund. Zambia was the first African country…
more ...Arizona Governor to Focus on Semiconductors in Taiwan Visit
Arizona Gov. Doug Ducey arrived in Taiwan on Tuesday for a visit focused on semiconductors, the critical chips used in everyday electronics that the island manufactures. Ducey is on a…
more ...Sri Lanka’s President Says IMF Talks Nearing Successful End
Sri Lanka’s president said Tuesday that his bankrupt country’s talks with the International Monetary Fund for a rescue package have successfully reached final stages as he presented an amended budget…
more ...Tunisia Hosts Japanese-African Economic Cooperation Meeting
African heads of state, representatives of international organizations and private business leaders gathered in Tunisia on Saturday for the Tokyo International Conference on African Development, a triennial event launched by…
more ...Powell: Fed’s Inflation Fight Could Bring ‘Pain,’ Job Losses
Federal Reserve Chair Jerome Powell delivered a stark warning Friday about the Fed’s determination to fight inflation with more sharp interest rate hikes: It will likely cause pain for Americans…
more ...China’s Youth Unemployment Nearly 20%
In 1999, fewer than 1 million people graduated from college in China. This year, a record-breaking 10.7 million new college graduates joined the Chinese job market. And many of them…
more ...Biden Announces Long-Awaited Student Debt Forgiveness Plan
President Joe Biden on Wednesday announced his long-awaited plan to deliver on his campaign promise to provide $10,000 in debt cancellation for millions of Americans — and up to $10,000…
more ...As Inflation Soars, Access to Indigenous Foods Declines
Blueberry bison tamales, harvest salad with mixed greens, creamy carrot and wild rice soup, roasted turkey with squash. This contemporary Native American meal, crafted from the traditional foods of tribes…
more ...IMF Fees on War-Torn Countries Closer to Elimination
The International Monetary Fund is facing pressure to reevaluate how it imposes fees on loans it disperses to needy countries like war-torn Ukraine — which is one of the fund’s…
more ...Ghana Raises Benchmark Interest Rate over Soaring Inflation
Ghana has raised its benchmark interest rate to a record-high 22% as the country struggles to check soaring prices caused in part by Russia’s invasion of Ukraine. Ghana is also…
more ...In Mozambique, Banana Wholesalers Are Turning into Pedalers
With transportation costs tripling in the past year, Mozambican wholesalers are sending bananas to market by bicycle instead of truck, aiming to reduce spending on fuel. From Manica province in…
more ...Nigeria’s Inflation Hits 17-Year High as Food Prices Soar
Nigerian authorities say the country’s inflation rate jumped to nearly 20% in July, compared to last year, the highest in nearly two decades. Consumers in Africa’s biggest economy are struggling…
more ...Amid Energy Crisis, EU Plans to Help Gas-Rich Mozambique Boost Security
The European Union is planning a five-fold increase in financial support to an African military mission in Mozambique, an internal EU document shows, as Islamist attacks threaten gas projects meant…
more ...Saudi Aramco Profit Soars on Higher Prices and Refining Margins
State oil giant Saudi Aramco reported a soaring 90% rise in second-quarter profit on Sunday, beating analyst expectations and propelled by higher oil prices, volumes sold and refining margins. The…
more ...‘Now Hiring’: US Employers Struggle to Find Enough Workers
Salespeople, food servers, postal workers — “Help Wanted” ads are proliferating across the United States, as companies struggle to deal with a worker shortage caused by the pandemic, a rash…
more ...US Gas Prices Lowest in 5 Months
Gasoline prices have dipped to their lowest in more than five months — good news for consumers who are struggling with high prices for many other essentials. AAA said the…
more ...COVID-19 Wreaks Havoc on Youth Employment
The International Labor Organization says the COVID-19 pandemic has wreaked havoc on the youth labor market. The ILO’s just released “Global Employment Trends for 2022” report finds job prospects for…
more ...At 75, India Seeks Way Forward in Big but Job-Scarce Economy
As India’s economy grew, the hum of factories turned the sleepy, dusty village of Manesar into a booming industrial hub, cranking out everything from cars and sinks to smartphones and…
more ...In Solomon Islands, Some Wary of Beijing-backed Construction
On the main street of Honiara, capital of the Solomon Islands, the Chinese presence is noticeable — some people on the street, some characters on the signs and at almost…
more ...US Inflation Slips From 40-Year Peak but Remains High 8.5%
Falling gas prices gave Americans a slight break from the pain of high inflation last month, though the surge in overall prices slowed only modestly from the four-decade high it…
more ...US Senate Approves Inflation Reduction Act of 2022
The evenly split U.S. Senate has passed the Inflation Reduction Act of 2022. With Vice President Kamala Harris casting the tiebreaking vote and all Democrats seemingly on board, lawmakers worked…
more ...US Senate Democrats Poised to Approve Climate, Tax Legislation
U.S. Senate Democrats, over uniform Republican opposition, are poised Sunday to approve sweeping legislation to combat climate change, trim health care costs and raise taxes on highly profitable corporations. The…
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