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Economy News

Turkey's Erdogan in China for talks amid Uighur strains

Bejing - Turkish President Recep Tayyip Erdogan met Chinese leaders for talks in Beijing on Wednesday, a day after securing NATO's backing for Ankara's fight against Islamic State militants.

Critics fear Pacific trade deal favours big business over states

Sydney - With the end game in sight to what could be the world's most ambitious trade deal, critics fear a controversial mechanism to protect investors will strengthen the hand of big business while eroding national sovereignty.

Greece's headache: How to lift the capital controls?

Atenas - It is just the headache Greece's government does not need right now: how can it loosen the capital controls that are shielding its banks, but strangling the rest of the economy?

Egypt completes first trial run of 'new Suez canal'

Cairo - Egypt on Saturday completed the first trial run of its "new Suez canal", officials said, ahead of the formal inauguration of the shipping route next month.

Monsoon troubles Nepal quake survivors three months on

Kathmandu - As dark clouds loomed overhead, Rabi Baral hurriedly secured his tent to the ground at a camp for victims of Nepal's earthquake, three months after the disaster upended his life.The 7.

Lonmin likely to cut 6,000 jobs in South Africa

Johanesburg - Lonmin, the world's third largest platinum producer, said Friday it was set to cut 6,000 jobs in South Africa due to falling prices and high costs, dealing another blow to the country's fragile economy.

Hard lives of China's 'left behind' children

- Deep in the Chinese countryside, the lives of Liang Yuxiu and her brother Zhaolu epitomise the cost of decades of breakneck economic growth.

U.S. Senate committee votes to ease Cuba travel restrictions

Washington - The US Senate Appropriations Committee approved a slate of amendments that open to the door to restoring open travel to Cuba, as well shipping and agricultural financing.

IMF could release new funds to Ukraine at end of July

Washington - The International Monetary Fund signaled Thursday it could release $1.7 billion in bailout funds next week to Ukraine as the country reels from civil war and seeks private-sector debt relief.

Poverty rises in Mexico under President Pena Nieto

- Two million people joined the ranks of the poor in Mexico between 2012 and 2014, official figures showed Thursday, as the poverty rate rose under President Enrique Pena Nieto.Some 55.3 million people, or 46.

Cuba and United States resume full diplomatic relations

Washington - The United States and Cuba restored diplomatic relations Monday in one of the most-obvious signs of change since Barack Obama was elected president and Fidel Castro left office.

Philippines in record defence spending plan amid China tensions

Manila - The Philippines is planning a 25 percent hike in its defence budget next year, mainly to bolster its claims in the disputed South China Sea, officials said Tuesday.

South Korea tourism struggles to recover from MERS crisis

Seoul - The recent outbreak of the deadly MERS virus in South Korea has left the country's tourist industry in intensive care, with visitor numbers plunging more than 40 percent in June, according to data released Tuesday.

EU vows new support for Tunisia after tourist attack

Brussels - The European Union promised Monday to boost political and economic support for Tunisia to ensure its transition to democracy is not derailed by last month's deadly attack on a tourist resort.

With relations restored, Cubans in U.S. see more contact with relatives

Miami - The flight from Miami to Havana takes just 45 minutes, but the passengers lining up to check in are hardly traveling light.They are lugging big TVs, bulky bags of non-perishable food like canned goods and even automobile tires.

EU's Juncker praises Cyprus recovery after bailout

Nicosia - European Commission President Jean-Claude Juncker praised Cyprus Thursday for its budding economic recovery after harsh bailout terms saved the eurozone member from meltdown, and urged re-unification of the divided island.

Refugees help fill gaps in German labour market

Bobingen - Like a growing number of German employers, garage-owner Robert Menhofer has decided to give a young refugee a chance and is lavish in his praise for George Romanos, a young trainee from Syria. "He's going to be a really good mechanic!

Two Koreas discuss Kaesong wage row

Seoul - North and South Korean officials on Thursday opened rare talks over a protracted wage dispute at the jointly operated Kaesong industrial zone in the North.

EU's Juncker to make first visit to Cyprus

Nicosia - European Commission President Jean-Claude Juncker is to start his first official visit to Cyprus on Thursday for talks on the bailed-out island’s economy and the UN-brokered peace process.

Russian village fears future as health cuts hit poorest

Russia - More than 70 years after Gennady Vinogradov was born in the small village of Sheshurino, northwest of Moscow, he just asks for one thing: to be able to die there in dignity.

Brazil police target politicians in new Petrobras raids

Bras - Brazilian police probing the giant Petrobras corruption scandal launched raids Tuesday against several politicians, including former president Fernando Collor de Mello, reportedly seizing a Ferrari and other luxury cars from his home.

Sanctions go, but Iran must wait for economic recovery

Tehran - Iranian trade will be boosted by a lifting of nuclear-related sanctions but the country needs billions of dollars of investment and meaningful economic gains are likely to take many months.

China stocks turn positive on government moves

Shanghai - Chinese stocks stormed into positive territory in volatile trading Thursday as Beijing launched new measures to halt a dramatic sell-off that has also hurt regional share markets and commodity prices.The benchmark Shanghai Composite Index jumped 5.

China bars 'big' shareholders from selling: Regulator

Shanghai - China's market regulator has barred major shareholders and executives of listed companies from selling their shares for the next six months, it said in a statement, the latest government action to stem a slide in the markets.

Millions exit poverty, but only just barely: Study

Washington - Almost 700 million people rose out of abject poverty over the first decade of the century, but most of them remain locked at very low levels of income, a study released Wednesday showed.

Putin welcomes BRICS leaders amid standoff with West

Ufa - Russian President Vladimir Putin on Wednesday welcomed the leaders of emerging powers for a summit Moscow hopes will show it not isolated despite the standoff with the West over Ukraine.

Language becomes a new frontier in digital commerce

Language has become a new frontier in business. From entrepreneurs and startups to existing SMBs and enterprises, language products and services are on the rise in the global economy.

Revised Greek bailout request to 'take into account' creditors' concerns

Atenas - Greece will on Wednesday present a revised bailout request that will "take into account" the concerns of international creditors, a government official said.

Greek bailout negotiator Euclid Tsakalotos named new finance minister

Atenas - Greece on Monday named economist Euclid Tsakalotos, its top negotiator in the stalled EU-IMF talks, as the country's new finance minister, the president's office said."Euclid Tsakalotos will take his oath of office at 1700 GMT today," it said.

Putin tells Tsipras he supports Greek people to 'overcome difficulties'

Moscow - Russian President Vladimir Putin on Monday told Greek Prime Minister Alexis Tsipras he supported Greeks in overcoming the "difficulties" they faced after their resounding 'No' to creditors' bailout terms, the Kremlin said.
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A store advertising its sales
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The economic divide in Cabbagetown.
Hawaii: APEC 2011
Hawaii: APEC 2011
APEC
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Chuck Kennedy / White House
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Eman Jueid / Aslan Media
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Canberra: Bus Depot Markets.
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Wikipedia
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Pete Souza / White House