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 ...Financial Institutions in US, East Asia Spoofed by Suspected North Korean Hackers
There are renewed concerns North Korea’s army of hackers is targeting financial institutions to prop up the regime in Pyongyang and possibly fund its weapons programs. A report published Tuesday…
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 ...Japan, Australia, US to Fund Undersea Cable Connection in Micronesia to Counter China’s Influence
Japan announced Tuesday that it joined the United States and Australia in signing a $95 million undersea cable project that will connect East Micronesia island nations to improve networks in…
more ...Could Artificial Intelligence Help Stop Trade in Goods Made From Child, Forced Labor?
The U.S. Department of Homeland Security is looking at how artificial intelligence can be used to help identify goods made with child or forced labor and prevent those goods from…
more ...Musk Says China Detailed Plans to Regulate AI
Top Chinese officials told Elon Musk about plans to launch new regulations on artificial intelligence on his recent trip to the Asian giant, the tech billionaire said Monday, in his…
more ...Is It Real or Made by AI? Europe Wants a Label as It Fights Disinformation
The European Union is pushing online platforms like Google and Meta to step up the fight against false information by adding labels to text, photos and other content generated by…
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 ...App Offering Government Services to Ukrainians Expands Reach
In collaboration with the Ukrainian government, the U.S. Agency for International Development, or USAID, has created an app that connects Ukrainians with their government so they can access public services…
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 ...Amazon to Pay $31 Million in Privacy Violation Penalties for Alexa Voice Assistant, Ring Camera
Amazon agreed Wednesday to pay a $25 million civil penalty to settle Federal Trade Commission allegations it violated a child privacy law and deceived parents by keeping for years kids’…
more ...China Eyes Spain in Drive to Conquer European EV Market
The International Energy Agency says Chinese car manufacturers are emerging as a major force in the global electric car market, with more than 50% of all electric cars on roads…
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 ...China’s Micron Chips Ban Is Litmus Test for South Korea
The semiconductor trade war between Washington and Beijing may ensnare Seoul as South Korea must decide between backing its closest ally or embracing a lucrative export opportunity presented by China,…
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 ...Key US Official Calls for Tech Companies to ‘Do Something’ About AI
The director of the leading U.S. cybersecurity agency has a message for scientists and top technology company officials who are warning that artificial intelligence could lead to the end of…
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…
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