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Economy News

Oil, diamonds and nuclear power: Russia eyes Africa business

Moscow - While Russia has traditionally focused on arms and grain exports to Africa, it is now looking to broaden its activities and influence.

For Russian business, big dreams in Africa

Moscow - From diamonds and arms to nuclear power and oil, Russia has major business ambitions in Africa, even if it is coming late to the party.

IMF's Georgieva: US-China truce 'not good enough'

Washington - The partial trade deal between the United States and China is welcome news but does not undo the trade war's negative impact on the global economy, IMF chief Kristalina Georgieva said Thursday.

IMF flags surging, risky corporate debt, calls for more oversight

Washington - Low borrowing rates put in place amid a slowing economy -- partly caused by uncertainty created by the US-China trade war -- have sparked a surge in risky corporate borrowing which could sow the seeds of a new global crisis, the International Monetary ...

Brexit concerns blowing a gale across nervy Falklands

It may be a remote archipelago 8,000 miles (13,000 kilometres) from mainland Britain but the Falkland Islands' incredible biodiversity, as well as fishing and meat exports, are under threat from Brexit.

European growth failed to 'lift off' amid Brexit, slowdown: IMF economist

Washington - Europe's economic expansion sputtered this year, disappointing expectations due to the well-known Brexit concerns, but also because of issues within major economies like Germany and Italy, a top IMF economist told AFP.

Putin talks investments and space in Abu Dhabi

Abu Dhabi - Russian President Vladimir Putin signed deals worth over $1.3 billion with the United Arab Emirates on Tuesday, wrapping up a tour of the Gulf where he also courted investment in Saudi Arabia.

IMF sharply cuts Iran, Saudi growth forecasts

Dubai - The International Monetary Fund on Tuesday sharply downgraded growth projections for Saudi Arabia and Iran, the two largest Mideast economies, citing the impact of US sanctions, geopolitical tensions and low oil prices.

Group behind Facebook's Libra coin announces 21 founding members

Geneva - The Libra Association, created by Facebook to launch its new cryptocurrency, has announced its 21 founding members after defections by previous supporters including Visa and Mastercard.

Ecuador govt, protesters agree deal to end deadly unrest

Quito - Ecuador's president and indigenous leaders reached an agreement Sunday to end nearly two weeks of violent protests against austerity measures put in place to obtain a multi-billion-dollar loan from the IMF.

Ecuador president orders curfew, military control in Quito

Quito - Ecuador President Lenin Moreno on Saturday ordered the capital Quito and surrounding areas to be placed under curfew and military control, on the 11th day of deadly protests against government austerity measures.

Ecuador indigenous group rejects talks to end fuel protests

Quito - The indigenous group leading mass protests in Ecuador on Friday rejected an offer of direct talks from President Lenin Moreno to end days of deadly protests against fuel price hikes.

Protesters and police clash again in Ecuador capital

Quito - Riot police clashed with indigenous demonstrators in Ecuador's capital on Friday as deadly protests against fuel price hikes stretched into a 10th day.

Trump says 'warmer feelings' in US-China trade talks

Washington - President Donald Trump on Friday said Chinese and American officials were working toward meaningful progress in trade talks, boosting hopes for a detente in the two economies' damaging trade war.

Ecuador indigenous group rejects talks, seeks to 'radicalize' protests

Quito - A key Ecuadoran indigenous leader Thursday rejected talks with President Lenin Moreno and issued a call to "radicalize" protests over fuel price hikes amid violence that has left five protesters dead.

Apples, church, video games — these Polish things

Warsaw - Poland, which holds a general election on Sunday, boasts more than 1,000 years of history. It was invaded by Nazi Germany and the Soviet Union during World War II, then spent decades under communism. Today it is a member of NATO and the European Union....

Clashes break out as thousands march against fuel hikes in Ecuador

Quito - Stone-hurling protesters clashed with police for a second day Wednesday in Ecuador's capital as thousands of indigenous people marched against President Lenin Moreno's decision to slash fuel subsidies.

Haitian opposition rejects president's appeal for dialogue

Port-au-prince - The Haitian opposition on Wednesday rejected President Jovenel Moise's appeal for dialogue, as the country's main cities remain paralyzed after more than a month of often violent protests.

Ecuador: oil-rich country in crisis

Quito - Catholic-majority Ecuador, oil-rich but saddled with debt, is embarking on reforms that have led to fuel price hikes and sparked the biggest protests in a decade.Here is some background about the country of 17 million people.

Persistent trade tensions risk worsening poverty: World Bank

Washington - As global trade tensions persist, investments are put on hold and without that cash to boost economic growth, poverty could surge, the World Bank's chief economist warned Tuesday.

Ecuador oil output hit as protests worsen

Quito - Protesters in Ecuador fought a running battle with security forces Wednesday in a second day of violent protests over a fuel price hike that forced the government to suspend most of the country's deliveries of crude.

New IMF chief Georgieva says world suffering 'synchronized slowdown'

Washington - Grinding trade disputes are undermining the global economy, which is set to see its slowest growth in nearly a decade, the new IMF chief said Tuesday.

Brazil highways drive Amazon development — and destruction

Ruropolis - Trucker Erik Fransuer spends months at a time driving back and forth on highways that cut through the Amazon in northern Brazil, delivering soy or corn to river ports.

Clashes at protests in Ecuador over fuel price hike, oil facilities seized

Machachi - Protesters clashed with Ecuadoran forces Monday as they marched toward the capital to demonstrate against soaring fuel prices, with the government announcing three oil facilities had been seized, slashing production by 12 percent.

Clashes as indigenous march on Ecuador capital over fuel price hike

Machachi - Hundreds of indigenous people and farmers clashed with Ecuadoran security forces Monday as they marched toward the capital Quito to protest against rising fuel prices.

Investment vs environment: Armenia villagers protest gold mine plans

Jermuk - Armenian villagers are locked in what they say is a David-and-Goliath style battle for the environment and their livelihoods, standing guard around the clock to protect their land from a multinational mining company.

Portugal's Socialists tipped for re-election

Lisbon - Portugal voted Sunday with Prime Minister Antonio Costa's Socialists tipped to win a second straight term after presiding over a period of solid economic growth following years of austerity.

Dubai seeks investment to bolster flagging economy

Dubai - With the highest tower in the world, grand commercial centres and artificial islands, Dubai projects an image of prosperity, even as the city-state races to court investors to bolster a flagging economy.

Clashes as Ecuador president declares state of emergency

Quito - Clashes broke out between protesters and police in Ecuador after President Lenin Moreno declared a state of emergency Thursday following demonstrations against rising fuel prices due to the government scrapping subsidies.

Nigeria's Buhari urges protection for foreigners in S.Africa summit

Pretoria - Nigerian President Muhammadu Buhari on Thursday began a visit to South Africa with a call to beef up protection of foreign nationals, weeks after xenophobic attacks in Johannesburg stirred tension between Africa's leading economies.
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