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Economy News

IMF urges key G20 countries to spend more for growth

Chengdu - The International Monetary Fund (IMF) has warned risks to the global economy are growing, as it called on some G20 nations to boost government spending.

G20 ministers urge tighter tax rules for multinationals

Chengdu - The world's major economies need to deepen cooperation on tax collection and information sharing as companies seek to minimise the amount they pay to governments, finance ministers said on Saturday.

Preparing for Brexit: UK faces monumental task

London - While British politicians have spent the month since the EU referendum in a whirl of resignations, recriminations and political backstabbings, civil servants have been quietly beginning the mammoth task of implementing Brexit.

French trial casts shadow over IMF chief Lagarde

Washington - Bad timing: IMF chief Christine Lagarde was in China for a meeting of the powerful G20 countries when the news came Friday that she would be put on trial back home in France over a state payout to a businessman in 2008.

Oil-rich Kazakhstan shaken by attacks

Almaty - Two multiple-target attacks in as many months have shaken Kazakhstan's reputation for stability and led to fears that home-grown radicalism could be on the rise in the ex-Soviet republic.

Big Mac latest casualty of Venezuela shortages

Caracas - McDonald's said Thursday it has stopped selling Big Macs in Venezuela, making the US chain's iconic hamburger the latest casualty of severe food shortages triggered by an economic crisis.

Democracy key to Turkish economy, says IMF

Washington - Following Turkey's bloody coup attempt at the weekend, the International Monetary Fund on Tuesday said the country's democratic institutions were crucial to its economic stability.

Mugabe denounces Zimbabwean 'ThisFlag' protest leader

Harare - Zimbabwean President Robert Mugabe on Tuesday used a funeral address to angrily denounce popular pastor Evan Mawarire, who has become the figurehead of recent anti-government protests."I don't even know him... I don't know if he is a man of religion.

Cyprus sets another tourism record

Nicosia - Bailed-out Cyprus, seen as a safe destination in a region dogged by terror attacks, set a record for the number of tourist arrivals during the month of June, officials said Monday.

Venezuelans pour into Colombia again as border reopens

San Antonio Del T - Tens of thousands of Venezuelans again streamed into the Colombian city of Cucuta, taking advantage of the temporary reopening of a long-closed border to buy food and medicine due to shortages at home.

Venezuelans pour into Colombia again as border briefly reopens

San Antonio Del T - Thousands of Venezuelans again poured into the Colombian city of Cucuta on Sunday, profiting from the brief reopening of a long-closed border to buy food and medicine.

Venezuelans pour into Colombia to buy basic goods

C - Thousands of Venezuelans crossed Saturday into the Colombian city of Cucuta to buy food and medicine, taking advantage of another brief opening in the border that's been closed nearly a year.

Venezuela's President Nicolas Maduro extends state of emergency

Caracas - Venezuelan President Nicolas Maduro has extended the country's state of "economic emergency" for another 60 days, an official newspaper reported, a sign of declining conditions in the crisis-hit country.

France's whizz-kid economy minister Macron aims higher

Paris - French political high-flyer Emmanuel Macron has enjoyed a lightning rise from the world of investment banking to the economy ministry where his maverick attitude has irked his leftist colleagues.

Hungary's anti-immigrant PM faces workforce shortage

Budapest - A population slump in Hungary is presenting Prime Minister Viktor Orban's anti-immigration government with a headache: how to plug labour supply shortages without turning to foreigners.

Venezuela's military to the fore as Maduro struggles

Caracas - Venezuela's military has been put on the frontline of a worsening national economic crisis by taking charge of food distribution and key ports amid dire shortages and mounting unrest.

Venezuela's woes deepen as Citibank shuts teller window

Caracas - Venezuela's howling economic woes have worsened as Citibank closed the government's overseas payments account and multinational firms are packing up and leaving.

Venezuelan military begins overseeing food distribution

Caracas - The Venezuelan military began overseeing food distribution at ports, airports and businesses Tuesday as part of a plan by President Nicolas Maduro to alleviate acute shortages plaguing the country.

Spain proposes tax hike to dodge EU deficit fine

Madrid - Spain's acting Economy Minister Luis de Guindos on Tuesday proposed hiking corporate taxes to avoid a fine from the European Commission for repeatedly failing to bring government deficits into line.

Zimbabwe protest leader arrested on eve of scheduled strike

Harare - Popular Zimbabwean pastor Evan Mawarire, one of the organisers of the largest protests in years against President Robert Mugabe, was arrested Tuesday and charged with inciting public violence, his lawyer said.

Venezuela takes over Kimberly-Clark facilities: official

Caracas - Venezuela's embattled government said Monday it would take over operations at facilities where US consumer goods giant Kimberly-Clark just shut down, citing unworkable economic conditions."We are going to sign, at the workers' request...

Eurozone slams Spain, Portugal on excessive deficits

Brussels - Eurozone finance ministers agreed Monday to officially declare Spain and Portugal in breach of the EU public spending rules, a key step to possibly imposing unprecedented penalties against members of the currency bloc.

Eurozone weighs Brexit amid 'Little Britain' warning

Brussels - Eurozone finance ministers assessed on Monday the impact of the British decision to leave the EU, warning that the country risked becoming "Little Britain" in the aftermath.

Bitter legacy of rival Koreas' Kaesong experiment

Seoul - Five months after Seoul shut down a jointly run industrial park in North Korea, South Korean factory owners are still waging a defiant campaign to reopen what was the last major symbol of inter-Korean cooperation.

Venezuelans cross into Colombia searching for food

C - Thousands of Venezuelans poured across the border into Colombia on Sunday to buy essential goods during a brief opening of the border that's been closed for nearly a year.

G20 nations pledge to boost trade despite growing protectionism

Shanghai - The world’s top 20 economies will work to boost sluggish global trade despite growing protectionism, overcapacity concerns, and uncertainty over Brexit, G20 trade ministers said Sunday at a meeting in Shanghai.

Zimbabwe protests signal growing risks for Mugabe

Harare - Street protests, national work boycotts and internet activism are on the rise in Zimbabwe -- offering hints that opposition to ageing President Robert Mugabe could be building towards a boiling point.

China, India eye Asian Century as Brexit rattles old order

New Delhi - Britain's vote to leave the European Union and simmering discontent in other Western countries is seen as hastening the arrival of an "Asian Century", analysts say, led by the rise of China and India.

Ecuador gets $364 mn in emergency support from IMF

Washington - The International Monetary Fund said Friday it approved a $364 million emergency loan to Ecuador after the country was hard-hit by an earthquake in April.

Poor, bereaved, hopeless: faces of Venezuela crisis

Caracas - Venezuelans are suffering economic and political turmoil that has caused food shortages and deadly unrest over recent months.AFP interviewed five of the human faces of the crisis: ordinary citizens whose lives have been thrown into chaos.
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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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President Barack Obama greets Rep. Gabrielle Giffords  D-Ariz.  as he arrives on the floor of the Ho...
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Pete Souza / White House
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millenials by the numbers
From http://blog.k12.com/
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The French Stock Market (La Bourse) in Paris
Sebche on Flick'r
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A store advertising its sales
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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
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UK: HM Treasury entrance
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For sale sign
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The economic divide in Cabbagetown.
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
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"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
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
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Occupy London Stock Exchange
Eman Jueid / Aslan Media
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Hawaii: APEC 2011
APEC
Canberra: Bus Depot Markets.
Canberra: Bus Depot Markets.
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