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Economy News

Volkswagen profit roars back two years after 'dieselgate'

Frankfurt Am Main - The world's largest carmaker Volkswagen appeared back in racing form Friday, as its 2017 results revved back to levels not seen since before its devastating "dieselgate" emission cheating scandal.VW said in a statement it had booked an 11.

Volkswagen net profit more than doubles in 2017

Frankfurt Am Main - The world's largest carmaker Volkswagen said Friday it more than doubled net profits in 2017, with record sales helping it overcome headwinds including its long-running diesel scandal.VW said in a statement it had booked an 11.

No politics, please: DR Congo tycoon Forrest shares secret of success

Lubumbashi - Rebels have wanted to kill him, NGOs accuse him of exploitation and Chinese newcomers have rattled his Congo mining empire, but George Forrest, one of Africa's biggest businessmen, remains unbowed.

Saudi Arabia to spend billions on Western-style entertainment

Riyadh - Saudi Arabia announced plans Thursday to spend billions on building new venues and flying in Western acts, in a total overhaul of its entertainment sector that would have been unthinkable not long ago.

Saudi Arabia to invest $64 bn in entertainment in next decade

Riyadh - Saudi Arabia is to invest $64 billion in its entertainment sector over the coming decade, an official said Thursday, as the kingdom pursues a programme of social and economic reforms.

Judges to rule on diesel bans in choking German cities

Leipzig - Judges are to rule Thursday on whether German cities can ban old diesel cars to reduce air pollution, with potentially dramatic consequences for a key industry and transport policy in Europe's largest economy.

Transparency International sees graft fight at global standstill

Berlin - Governments are not doing enough in the global fight against graft, anti-corruption watchdog Transparency International (TI) said Wednesday as it presented its annual corruption perceptions index.

Trump junior says presidency is costing the family firm

New Delhi - Donald Trump's presidency has cost the family firm "millions of dollars" in lost business, his son told an Indian newspaper during a visit aimed at drumming up sales of new luxury apartment complexes.

Brazilian government admits defeat on pension reform

Bras - Brazil's center-right government has conceded defeat in its attempts to push through controversial cuts to the pension system, which had long been presented as a keystone of austerity reforms.

Venezuela begins selling oil-backed cryptocurrency

Caracas - Venezuela formally launched its new oil-backed cryptocurrency on Tuesday in an unconventional bid to haul itself out of a deepening economic crisis.The leftist Caracas government put 38.

Dubai property slump to continue: S&P

Dibai - A three-year downturn in Dubai's property market will likely continue until at least 2020, Standard & Poor's said Tuesday, citing low oil prices, the introduction of VAT and a Gulf diplomatic crisis.

German court could open way to bans on diesel cars

Frankfurt Am Main - One of Germany's top courts will decide Thursday whether some diesel vehicles can be banned from parts of cities like Stuttgart and Duesseldorf to reduce air pollution, a possible landmark judgement for the "car nation".

Eurozone backs Spain's De Guindos for ECB top job

Brussels - Eurozone finance ministers backed their Spanish peer Luis De Guindos for the vice-presidency of the European Central Bank on Monday after his only rival pulled out.

EU single currency reform won't be 'perfect': Moscovici

Paris - EU Economic Affairs Commissioner Pierre Moscovici said Sunday he does not expect a "perfect" accord on reforming the single currency at an EU summit in June.

Myanmar farmers going against the grain with apps

A free app on farmer San San Hla's smartphone is her new weapon in the war against the dreaded stem borer moth that blighted her rice paddy in southern Myanmar for the last two years.

China vows to protect interests as US eyes trade sanctions

Bejing - China on Saturday warned it would take necessary measures to protect its interests if the US imposes tough trade sanctions against its steel and aluminium exports.

US eyes heavy tariffs on China, Russia to counter steel, aluminum glut

Washington - The US Commerce Department said Friday it recommended imposing tariffs on China, Russia and other countries to counter a global glut in steel and aluminum which it says threatens national security.

Op-Ed: Trump says he would be agreeable to raising gas tax 25 cents

You could say that whatever Trump giveth, he can also take away, too. And his latest idea is to increase the federal gas tax to motorists 25 cents a gallon. Doing so would wipe out 60 percent of the tax cuts he gave Americans.

Praise, positive data pile up for French economy

Paris - The good news keeps coming for the French economy: data published Thursday showed unemployment at its lowest level since 2009 while the head of the IMF praised recent reforms by President Emmanuel Macron.

Cyprus economy records highest growth in 10 years

Nicosia - Bailed-out eurozone member Cyprus recorded its best growth in a decade last year, official data showed Wednesday, on the back of record tourist arrivals and a resurgence in construction.

Potholes appear in Romania's stellar economic growth path

Bucharest - Coming top of the class doesn't always mean escaping a telling off: Romania may have posted Europe's strongest growth figures on Wednesday, but analysts are worried the star pupil is heading for a fall.

Cuba prepares to end dual currency system

Havana - For more than two decades, Cubans have used a unique dual currency system to protect a fragile economy, but with just weeks of his mandate remaining, President Raul Castro has signaled much-delayed change is finally coming.

Japan economy grows for 8th straight quarter, longest since 1980s

Toukyo - Japan's economy grew for the eighth straight quarter at the end of 2017, government data showed Wednesday, its longest period of expansion since the "bubble" boom days of the late 1980s.

Japan economy grows for 8th straight quarter, longest since 1980s

Toukyo - Japan's economy grew for the eighth straight quarter at the end of 2017, government data showed Wednesday, its longest period of expansion since the "bubble" boom days of the late 1980s.

Zuma's five biggest career scandals

Johanesburg - South African President Jacob Zuma's battle to stay in office despite the ruling ANC party reportedly asking him to step down is the latest in a long history of career controversies.

South Africa declares drought a 'national disaster'

Cape Town - South Africa on Tuesday declared a "national disaster" over a drought that has ravaged parts of the country and threatened to leave the city of Cape Town without domestic tap water.

War-battered Iraq says it's 'open for investors'

Kuwait City - War-battered Iraq sought Tuesday to attract international investors to rebuild the country after defeating the Islamic State group, offering hundreds of projects and touting extensive legal guarantees.

Devastated Iraq seeks $90 billion for reconstruction

Kuwait City - Iraq needs nearly $90 billion to rebuild after three years of war with the Islamic State group, officials said Monday, with large parts of the country in ruins and tens of thousands left homeless.

Morocco tops 11-million mark in record tourism year

Rabat - Morocco recorded a bumper year for tourist arrivals in 2017, breaking through the 11-million barrier for the first time, the tourism ministry announced Monday.Visitor arrivals numbered some 11.

Iraq seeks $88.2 bln for reconstruction: minister

Kuwait City - Iraq needs $88.2 billion to rebuild after years of war against the Islamic State group, Planning Minister Salman al-Jumaili said Monday, as an international conference on the country's reconstruction opened in Kuwait.
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Along with the closeout merchandise and surplus merchandise markets  the returned merchandise and li...
Along with the closeout merchandise and surplus merchandise markets, the returned merchandise and liquidation industry generates over $100 billion dollars in revenue annually.
Russian President Vladimir Putin has forecast the economy will bounce back 1.4 percent in 2017
Russian President Vladimir Putin has forecast the economy will bounce back 1.4 percent in 2017
Igor Ageyenko, AFP
Republicans just can t seem to find it in themselves to share the nation s enthusiasm over the recov...
Republicans just can't seem to find it in themselves to share the nation's enthusiasm over the recovery.
Department of Labor
 We are the Champions : Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundhei...
"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
Comparison of debt in countries with the Euro as currency
Comparison of debt in countries with the Euro as currency
 We are the Champions : Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundhei...
"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
Sen. Hatch  left  enjoys some Ogden chili.
Sen. Hatch, left, enjoys some Ogden chili.
Hatch DC office
Reinhart  Schoenholtz  Coronado at the Economic Outlook Forum at NYU Stern on September 3  2014
Reinhart, Schoenholtz, Coronado at the Economic Outlook Forum at NYU Stern on September 3, 2014
Obama addresses Congress - State of the Union Address 2013
Obama addresses Congress - State of the Union Address 2013
Chuck Kennedy / White House
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
US GDP  2010 to 2012
US GDP 2010 to 2012
UK: HM Treasury entrance
UK: HM Treasury entrance
HM Treasury
For sale sign
For sale sign
Diana Parkhouse
 Assembly.  Detroit Publishing Company  1923 May 7. Touring Turn-of-the-Century America: Photographs...
"Assembly." Detroit Publishing Company, 1923 May 7. Touring Turn-of-the-Century America: Photographs from the Detroit Publishing Company, 1880-1920.
Library of Congress
millenials by the numbers
millenials by the numbers
From http://blog.k12.com/
Canberra: Bus Depot Markets.
Canberra: Bus Depot Markets.
Stephan Ridgway
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
The French Stock Market (La Bourse) in Paris
The French Stock Market (La Bourse) in Paris
Sebche on Flick'r
Eurozone is lost in translation as EU collapses
Eurozone is lost in translation as EU collapses
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