The United States has banned Russian energy imports and wants Saudi Arabia to increase oil production to mitigate a dramatic spike in gas prices. But just how willing Gulf states…
more ...Not All Western Companies Sever Ties to Russia Over Ukraine
A shrinking number of well-known companies are still doing business in Russia, even as hundreds have announced plans to curtail ties. Burger King restaurants are open, Eli Lilly is supplying…
more ...Sudan Looks to Gold to Boost Economy, Denies Russian Smuggling
Sudan’s military rulers this week announced an emergency committee to address the country’s collapsing economy and pointed to its gold mining as a possible boost. Sudan’s ambassador to Russia has…
more ...US Inflation Soared 7.9% in Past Year, a Fresh 40-Year High
Propelled by surging costs for gas, food and housing, consumer inflation in the U.S. jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger…
more ...Experts Forecast Big Boost in Oil Revenue for Some African Economies
While soaring oil prices hit consumers worldwide, their misfortune means a fortune for others. There will certainly be a “significant boost in government revenue” for some oil-producing African countries as…
more ...Biden Signs Cryptocurrency Oversight Order as Its Use Explodes
President Joe Biden on Wednesday signed an executive order on government oversight of cryptocurrency that urges the Federal Reserve to explore whether the central bank should create its own digital…
more ...EU Agrees to Broaden Sanctions on Russian Officials, Oligarchs
The European Union has agreed to expand its third round of sanctions being imposed on Russia to target a larger number of oligarchs and officials close to President Vladimir Putin…
more ...Iraqis Protest Rise in Food Prices, Officials Blame Ukraine War
Protests erupted Wednesday in Iraq’s impoverished south over a rise in food prices that officials attributed to the conflict in Ukraine. For about a week, the price of cooking oils…
more ...US Banning Russian Energy Imports
Global oil prices soared Tuesday as President Joe Biden announced that the United States will ban imports of Russian energy — a move that could have a dramatic impact in…
more ...US Bans Imports of Russian Oil Amid Ukraine Invasion
The U.S. is banning all imports of Russian oil and gas, President Joe Biden announced Tuesday — a move that he said “will deal another powerful blow to Putin’s war…
more ...Women Break Barriers to Find Success in Real Estate in Kenya
Like in much of Africa, women in Kenya own only a small fraction of property, and less than 14% of Kenya’s real estate brokers are women. For VOA, Juma Majanga…
more ...Invasion of Ukraine Prompts Exodus of Western Companies from Russia
A growing number of Western businesses are either halting operations in Russia or exiting altogether over that country’s military incursion of neighboring Ukraine. The major hit to Russia’s economy will…
more ...What Happens in Kenya When Modernization Clashes With Nature?
The tension between nature and modern development is being played out in Kenya. Along Nairobi Expressway’s construction site, workers can be seen wrapping marigolds and other greenery onto industrial beams,…
more ...Biggest Stock Slide on Wall Street in 16 Months as Oil Surges
Wall Street had its biggest drop in more than a year Monday as another leap for oil prices threatened to squeeze inflation’s grip on the global economy. The S&P 500…
more ...As Hershey Raises Prices, Ivory Coast Cocoa Farmers Grapple With Climate Change
Chocolate makers are expected to raise prices this year due to higher costs of cocoa from exporters like Ivory Coast, the world’s largest cocoa producer. Hershey, the largest producer of…
more ...US Delegation Travels to Venezuela to Explore Easing Sanctions
A delegation of senior U.S. officials visited Venezuela Saturday for talks with members of President Nicolas Maduro’s government to explore the possibility of easing U.S. sanctions against the major oil…
more ...Libya Oil Production Falls After 2 Crucial Fields Shut Down
Libya’s national oil company said Sunday that an armed group has shut down two crucial oil fields, causing the country’s daily production of oil to drop by 330,000 barrels. The…
more ...Sanctioning Russia Curtails North Korea’s Hard Currency Intake
As international sanctions on Moscow have triggered a decrease in the ruble’s value, North Korean workers in Russia are struggling to meet the remittance quotas set by Pyongyang, according to…
more ...Mastercard, Visa Suspend Operations in Russia After Invasion
Mastercard and Visa are suspending their operations in Russia, the companies said Saturday, in the latest blow to the country’s financial system after its invasion of Ukraine. Mastercard said cards…
more ...Nigeria to Supply Equatorial Guinea With Natural Gas
Nigeria has agreed to supply natural gas to Equatorial Guinea at Nigeria’s International Energy Summit in Abuja. African energy experts are urging quick implementation of the gas deal amid high…
more ...US Added 678,000 Jobs in February in Sign of Economic Health
Hiring by U.S. businesses picked up last month as the omicron variant of the coronavirus faded and more Americans started to dine out, shop and stay in hotels, despite climbing…
more ...Argentina Signs $45 Billion IMF Deal to Help Restructure Debt
Argentina has signed a $45 billion agreement with the International Monetary Fund (IMF) to help restructure and delay its debt payments. Negotiations about revamping the country’s debt payments have taken…
more ...Ukraine Conflict Disrupts Global Energy Markets
The ongoing conflict between Russia and Ukraine has left global oil and gas markets in the uncertain and unstable, causing supply issues and price spikes, with oil reaching levels of…
more ...Western Sanctions Push Russia Back to Soviet-Type Market
It’s unclear if Russian President Vladimir Putin expected the sanctions that followed his invasion of Ukraine. But their severity could have far-reaching economic consequences for Russia. Oksana Bedratenko has the…
more ...Fewer Americans Apply for Jobless Benefits Last Week
Fewer Americans applied for unemployment benefits last week reflecting a low number of layoffs across the economy. Jobless claims fell by 18,000 to 215,000 for the week ending February 26,…
more ...European Markets Make Gains Amid Worsening Ukraine Crisis
European markets are rising Wednesday as Russia launched a more intense phase of its invasion of Ukraine. The FTSE index in London is up 0.9% at midday, with Paris’s CAC…
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