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Economy News

Argentine central bank chief resigns amid economic turmoil

Buenos Aires - Argentina's central bank governor resigned Wednesday, the president's office said, as the country grapples with an economic slowdown, a debt default and a damaging row with the United States.

Obama makes pitch for affections of Modi government

Washington - US President Barack Obama on Tuesday hailed the "energy" and "determination" of Prime Minister Narendra Modi, flexing the symbolism of his office to court the affections of the new Indian government.

Argentina deposits debt payment, defying US judge

Buenos Aires - Argentina deposited a $161 million payment on its restructured debt Tuesday, defying a US judge who ruled it in contempt of court and ordered it to pay two "holdout" creditors first.

US judge calls Argentina in contempt in debt case

New York - A US judge ruled Argentina in contempt of court Monday for its attempts to skirt his block on payments to holders of the country's restructured debt.

U.S. court ruling on Argentine debt violates int'l law: Buenos Aires

Buenos Aires - Argentina on Monday slammed as illegal a U.S. judge's ruling finding it in contempt of court on its debt payments.

Boko Haram dims hopes of oil-fuelled revival of north Nigeria

Lagos - Social and economic development has long been touted as the way to revive the fortunes of Nigeria's impoverished north and prevent legions of disaffected young men turning to radical Islam.

Venezuela announces 'temporary occupation' of U.S. firm Clorox

Caracas - The Venezuelan government announced it was temporarily taking control of a Clorox factory, after the U.S.-based firm said this week it was leaving the country and selling its assets.

IMF fast-tracks $130 mn for Ebola fight in West Africa

Washington - The International Monetary Fund fast-tracked $130 million in aid Friday to fight the Ebola epidemic in the worst-hit countries in West Africa.

Jack Ma of Alibaba becomes China's richest person

Shanghai - The largest stock offer in history has made Jack Ma, founder of e-commerce giant Alibaba, China's richest person with a fortune of $25 billion, an annual wealth ranking in the world's second largest economy showed Tuesday.

Renzi shows fierce side as battle for Italy reform intensifies

Rome - He's promised to shake-up recession-plagued Italy, but Prime Minister Matteo Renzi's ambitious schemes to revive the eurozone's third largest economy have hit a stumbling block, amid a fierce row with powerful trade unions.

Economic injustice theme of Pope, Kirchner meet

- Pope Francis met Argentine President Cristina Kirchner on Saturday for a closed-door Vatican meeting focused largely on the theme of economic injustice, as Buenos Aires fights hedge fund creditors.

G20 finance chiefs aim to 'change destiny of global economy'

Cairns - Finance chiefs from G20 nations held talks Saturday, confident they can "change the destiny of the global economy" despite rising world political tensions and mounting fears of financial instability.

Argentine leader seeks pope's backing for debt battle

Buenos Aires - Argentine President Cristina Kirchner will visit her compatriot Pope Francis Saturday, seeking to enlist his support for her fight against hedge fund creditors before taking her pitch to the UN.

Hollande goes on offensive with Iraq air strike decision

Paris - President Francois Hollande kicked off a rare news conference Thursday with the dramatic announcement that France would conduct air strikes in Iraq, as he sought to wrest back the initiative after a catastrophic few weeks at home.

Under-fire Hollande faces press grilling

Paris - French President Francois Hollande holds a rare and hotly awaited news conference later Thursday as the embattled and deeply unpopular leader seeks to turn the tide on a catastrophic few weeks.

Ebola 'fear factor' risks economic disaster, World Bank warns

Washington - The World Bank warned Wednesday that fear of the deadly Ebola virus is choking off economic activity in West Africa with potentially "catastrophic" results.

South Sudan won't expel foreign workers

Juba - The government in war-torn South Sudan said Wednesday it will not be expelling any foreign workers, reversing a policy announcement made the previous day that caused a storm of protests from aid agencies and neighbouring countries.

How far is Putin prepared to go in Ukraine?

Brussels - Russia could go even further in Ukraine with the "frozen conflict" strategy it has tried and tested in other countries, and may even end up annexing around half of Ukrainian territory, analysts say.

Embattled French government scrapes through confidence vote

Paris - France's crisis-hit government on Tuesday narrowly won a crunch parliamentary vote of confidence in its economic reform path, in a rare respite for the deeply unpopular President Francois Hollande.

French PM sticks to reform plan ahead of crunch confidence vote

Paris - French Prime Minister Manuel Valls pledged Tuesday to stick to the disputed economic reform plan that he has championed, ahead of a crunch parliamentary vote of confidence.

Japan PM Abe to host women's conference

Tokyo - Japan's Prime Minister Shinzo Abe on Friday was due to host a three-day conference on women in the workforce, as the country grapples with boosting a low female participation rate.

Moody's negative on Brazil in new blow to Rousseff

Rio De Janeiro - Ratings agency Moody's lowered its outlook for Brazil Tuesday, in the latest blow to President Dilma Rousseff's economic record, just weeks before voters decide if she will be re-elected.

Japan economy contracted 7.1 percent in Q2

Preliminary estimates of the economic situation in Japan have been revised further down, despite extraordinary attempts to stimulate the economy.

Cyprus parliament adopts crucial foreclosure bill

Nicosia - The Cypriot parliament adopted Saturday a controversial bill to streamline bank foreclosures of bad debts, clearing the way for international lenders to release the next tranche of a 10 billion euro loan.

NYU Stern economic forum says to curb your (economic) enthusiasm Special

New York - The economy seems poised to improve, but will the changes coming be bold enough to be felt on "Main Street"? A special report for Digital Journal with comments from top economists and photos from NYU Stern's September 3, 2014 Economic Outlook Forum:

Argentina moves to impose price, production controls

Buenos Aires - Argentina's Senate on Thursday passed a bill sponsored by President Cristina Kirchner that would empower her government to regulate prices and production to combat high inflation, drawing sharp objections from the private sector.

Argentine lawmakers OK debt payment alternatives

Buenos Aires - Argentina's lawmakers approved a measure early Thursday that would transfer the payment site for the country's restructured debt obligations from New York to Buenos Aires, as the country grapples with fallout from its 2001 default.

Venezuelan president shakes up cabinet

Caracas - Venezuela's President Nicolas Maduro replaced Rafael Ramirez as head of the country's state oil giant PDVSA and appointed him as foreign minister.

Economic growth kills minority languages: Study

Paris - Economic prosperity is the worst enemy of minority languages, said researchers Wednesday who listed parts of Australia and North America as "hotspots" for extinction risk.

Mexico leader touts reforms amid falling popularity

- Facing sagging popularity, Mexican President Enrique Pena Nieto used his second state of the nation speech Tuesday to tout a drop in drug-related violence and defend his economic reforms.
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Schoenholtz  Coronado  Reinhart  and Backus at the Economic Outlook Forum at NYU Stern on September ...
Schoenholtz, Coronado, Reinhart, and Backus at the Economic Outlook Forum at NYU Stern on September 3, 2014
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President Barack Obama greets Rep. Gabrielle Giffords  D-Ariz.  as he arrives on the floor of the Ho...
President Barack Obama greets Rep. Gabrielle Giffords, D-Ariz., as he arrives on the floor of the House Chamber to deliver the State of the Union address at the U.S. Capitol in Washington, D.C., Jan. 24, 2012
Pete Souza / White House
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Backus  Schoenholtz  Coronado  and Reinhart at the Economic Outlook Forum at NYU Stern on September ...
Backus, Schoenholtz, Coronado, and Reinhart at the Economic Outlook Forum at NYU Stern on September 3, 2014
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 We are the Champions : Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundhei...
"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
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Canberra: Bus Depot Markets.
Canberra: Bus Depot Markets.
Stephan Ridgway
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Geithner to leave in consideration of family.
Geithner to leave in consideration of family.
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Coronado  Schoenholtz  Reinhart  and Backus at the Economic Outlook Forum at NYU Stern on September ...
Coronado, Schoenholtz, Reinhart, and Backus at the Economic Outlook Forum at NYU Stern on September 3, 2014
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 We are the Champions : Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundhei...
"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
image:67432:3::0
 We are the Champions : Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundhei...
"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
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Obama addresses Congress - State of the Union Address 2013
Obama addresses Congress - State of the Union Address 2013
Chuck Kennedy / White House
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Canberra: Bus Depot Markets.
Canberra: Bus Depot Markets.
Stephan Ridgway
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Occupy London: The piazza of St Paul’s Cathedral
Occupy London: The piazza of St Paul’s Cathedral
Eman Jueid / Aslan Media
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US GDP  2010 to 2012
US GDP 2010 to 2012
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Hawaii: APEC 2011
Hawaii: APEC 2011
APEC
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Untitled
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Pudong  China s financial and commercial hub  situated in Shanghai.
Pudong, China's financial and commercial hub, situated in Shanghai.
Wikipedia
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Berlin:  We are the Champions
Berlin: "We are the Champions"
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UK - London: Occupy London  2012
UK - London: Occupy London, 2012
xpgomes9
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President Obama delivers his State of the Union address at the U.S. Capitol  D.C.
President Obama delivers his State of the Union address at the U.S. Capitol, D.C.
Lawrence Jackson / White House
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A store advertising its sales
A store advertising its sales
the justified sinner
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