Economy News
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By AFP
Sydney -
Years of drought in Australia's east has caused the national sheep flock to shrink to the lowest levels since records began more than a century ago, agricultural figures revealed Thursday.Farmers sold-off or disposed of Aus$21 billion (US$13.
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By AFP
Basra -
In Iraq, a national lockdown to halt the coronavirus pandemic has found some unexpected fans: local businesses who no longer have to compete with Turkish, Iranian or Chinese imports.
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By AFP
Kotor -
Less than two months after detecting its first infection, Montenegro is the first country in Europe to declare itself coronavirus-free, a success story the tiny country hopes will lure tourists to its dazzling Adriatic coast this summer.
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By AFP
Fpo -
Stanley Ho, the Hong Kong-born tycoon who made billions transforming neighbouring Macau from a sleepy Portuguese outpost into the world's biggest gambling hub, died on Tuesday at the age of 98, his family said.
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By AFP
Trillions of dollars, euros and yuan pouring into post-pandemic economies must build a "healthy and green recovery", 200 medical groups representing 40 million health professionals worldwide told G20 leaders Tuesday in an open letter.
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By AFP
Washington -
Global car rental company Hertz became the latest economic casualty of the coronavirus pandemic Friday, filing for bankruptcy in the US and Canada after more than a century in business.
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By AFP
Buenos Aires -
Argentina defaulted on Friday for the second time in less than 20 years after failing to pay $500 million of interest on its bond debt, but it continues to negotiate a restructure with creditors, Finance Minister Martin Guzman said.
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By AFP
Buenos Aires -
Argentina was teetering on the brink of a second default this century on Friday as the deadline for a $500 million bond interest repayment approached.
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By AFP
Bejing -
China drew Western condemnation on Friday over plans for a national security law to quash Hong Kong's pro-democracy movement as it opened an annual congress that also laid bare the "immense" economic challenges caused by the coronavirus.
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By AFP
Bejing -
China's communist rulers avoided setting an annual growth target for the first time in decades Friday, as they struggle to deal with the "immense" economic challenges caused by the coronavirus pandemic.
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By AFP
Moscow -
Russia's economy is forecast to shrink by 9.5 percent in the second quarter of 2020 compared to the same period last year, while yearly GDP will fall by five percent, economy minister Maksim Reshetnikov said on Thursday.
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By AFP
Bejing -
Chinese Premier Li Keqiang will address his nation on the coronavirus, economy and other high-stakes issues on Friday to kick off an annual legislative session in the shadow of the global pandemic.
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By AFP
Damascus -
In a Damascus flea market, Sham Alloush rummaged through a pile of clothes for something nice to wear for Eid al-Fitr that wasn't too expensive.
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By AFP
Frankfurt Am Main -
Lufthansa on Thursday confirmed it was in talks with the German government over a nine-billion-euro ($10 billion) rescue that will see Berlin take a massive stake in the coronavirus-stricken airline.
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By AFP
Geneva -
Candidates to succeed Roberto Azevedo as head of the WTO will have one month from June 8 to submit their nominations, the global trade body said following the Brazilian's surprise resignation.
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By AFP
Frankfurt Am Main -
German ministers on Wednesday agreed final details of a rescue deal they will offer coronavirus-stricken airline giant Lufthansa, business daily Handelsblatt reported.
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By AFP
Havana -
Cuba has asked the Paris Club of major creditors for a delay in repaying its debt until 2022, citing the impact of the coronavirus pandemic on its economy, diplomatic sources told AFP on Wednesday.
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By AFP
Wellington -
Prime Minister Jacinda Ardern on Wednesday raised the prospect of Kiwis enjoying extra public holidays and a shorter working week to help kickstart New Zealand's post-lockdown economy.
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By AFP
Paris -
The International Energy Agency on Wednesday called on governments to put clean energy at the heart of their coronavirus economic recovery plans, as it forecast the first slowdown in new renewable power installations worldwide in two decades.
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By AFP
Quito -
Ecuador said Tuesday it is closing several embassies and state enterprises to save money amid an economic crisis provoked by the coronavirus pandemic."We will close ...
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By AFP
Paris -
Due to global warming, the United States is today more than twice as likely to endure a devastating "dust bowl" scenario than during the Great Depression, researchers said Monday.
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By AFP
Washington -
The US is facing a severe economic downturn amid the global pandemic, but will not suffer another Great Depression and will see a recovery begin later this year, Federal Reserve Chair Jerome Powell said Sunday.
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By AFP
Apo -
Japan dived into its first recession since 2015, according to official data Monday, with the world's third-largest economy shrinking by 0.9 percent in the first quarter as it wrestles with the fallout from the coronavirus.
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By AFP
Apo -
Japan dived into its first recession since 2015, according to official data Monday, with the world's third-largest economy contracting by 0.9 percent in the first quarter as it wrestles with the fallout from the coronavirus.
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By AFP
Washington -
The business shutdowns caused by the coronavirus pandemic could "easily" cause the US economy to collapse by 20 to 30 percent this quarter, Federal Reserve Chair Jerome Powell said Sunday.
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By AFP
Bangkok -
Shoppers flocked to Thailand's top-end malls on Sunday, eager for retail therapy as shopping centres reopened in a gradual easing of restrictions to revive the virus-ravaged economy.
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By AFP
Washington -
House Democrats on Friday narrowly pushed through the largest-ever US economic rescue package, but the coronavirus measure faces headwinds in the White House and Senate where Republicans bemoan its $3 trillion price tag.
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By AFP
Santiago -
LATAM Airlines said Friday it would lay off 1,400 employees in South America, blaming a drastic slump in business due to the coronavirus pandemic.
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By AFP
Paris -
Online retailing giant Amazon is seeking to resume operations from Tuesday at its six warehouses in France that were temporarily closed in a labour dispute over working conditions during the coronavirus pandemic, it said on Friday.
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By AFP
Beirut -
Lebanon is ready to terminate a 23-year-old dollar peg and float the pound, but only after it secures billions in aid, Finance Minister Ghazi Wazni said Friday.
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Economy Image
An automated teller machine (ATM). Digital Journal
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"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
The economic divide in Cabbagetown.
Along with the closeout merchandise and surplus merchandise markets, the returned merchandise and liquidation industry generates over $100 billion dollars in revenue annually.
Pudong, China's financial and commercial hub, situated in Shanghai. Wikipedia
Geithner to leave in consideration of family.
UK - London: Occupy London, 2012 xpgomes9
Coronado, Schoenholtz, Reinhart, and Backus at the Economic Outlook Forum at NYU Stern on September 3, 2014
The French Stock Market (La Bourse) in Paris Sebche on Flick'r
Polus-Tec Pre-cut plant, on the outskirts of Tokyo imports wood from all over the world and is fully automated in delivering "pre-cut" beams in Japan's post and beam housing sector. It represents a potential growth opportunity to use hemlock from B.C.'s coast. The plant was visited by delegates on the 2018 Forestry Asia Trade Mission. Japan is B.C.'s third largest market for B.C. wood products. BC Council of Forest Industries
For sale sign Diana Parkhouse (CC BY 2.0)
Canberra: Bus Depot Markets. Stephan Ridgway
Schoenholtz, Coronado, Reinhart, and Backus at the Economic Outlook Forum at NYU Stern on September 3, 2014
Obama addresses Congress - State of the Union Address 2013 Chuck Kennedy / White House
Canberra: Bus Depot Markets. Stephan Ridgway
Occupy London Stock Exchange Eman Jueid / Aslan Media
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"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
President Obama delivers his State of the Union address at the U.S. Capitol, D.C. Lawrence Jackson / White House
"Assembly." Detroit Publishing Company, 1923 May 7. Touring Turn-of-the-Century America: Photographs from the Detroit Publishing Company, 1880-1920. Library of Congress
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