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Economy News

World Bank shareholders approve $13 bln capital increase

Washington - World Bank shareholders approved a "historic" increase in the bank's lending capacity Saturday after the United States backed a reform package that curbs loans and charges more for higher income countries like China.

Polish teachers rally to demand wage hikes

Warsaw - Several thousand teachers rallied in Warsaw on Saturday demanding wage hikes a week after Poland's right-wing government announced a raft of generous spending measures in other sectors ahead of local elections this fall.

Venezuela's collapse one of the worst in modern history:IMF

Washington - Venezuela's economic collapse ranks as one of the worst in modern history, an International Monetary Fund official said on Friday.

No economic risk for Spain from Catalan dispute: IMF

Washington - The is no current risk to Spain's solid economic growth from the separatist crisis in the country's Catalonia province, a senior International Monetary Fund official said Friday.

S.Africa riots force new president to hurry home

Johanesburg - South African President Cyril Ramaphosa on Friday returned early from a summit in London to rush to the scene of violent demonstrations in North West province, where at least 23 people have been arrested.

Bashir fires Sudan foreign minister

Khartoum - President Omar al-Bashir on Thursday fired Sudan's Foreign Minister Ibrahim Ghandour, state media reported, after he said that Sudanese diplomats abroad had been unpaid for months.

Kremlin's earnings list gives glimpse of officials' wealth

Moscow - The Kremlin's annual list of Russian officials' earnings has provided an outline of the richest names in government, even as the true wealth of many big-hitters remains opaque.

Germany hits brakes on Macron's European dreams

Berlin - French President Emmanuel Macron's vision for a stronger European Union may be in tatters as a growing rift emerges with Germany on everything from defence to his plans for deeper eurozone integration.

Trolleys bring relief for Moroccan 'mule women'

Ceuta - It's a form of hard labour that has provoked an outcry -- Moroccan women bent double, overburdened by goods approaching or exceeding their own bodyweight.

IMF sees solid near-term global growth but risks beyond

Washington - The global economy is expected to grow at a solid pace through next year, boosted by faster expansion in the United States and Europe, but after that risks will build, the International Monetary Fund said Tuesday.

IMF sees emerging Asia as top global growth engine

Bejing - The IMF said Tuesday it remains upbeat about the economic prospects of emerging Asia, labelling the region "the most important engine of global growth" despite concerns over trade disputes and mounting debt.

German investor confidence hits 5-year low on trade tensions

Frankfurt Am Main - Investor confidence in Germany tumbled to its lowest level since 2012 in April, a key survey showed Tuesday, as geopolitical concerns and trade tensions weighed on Europe's top economy.The ZEW economic institute's monthly barometer tumbled to -8.

China growth beats forecasts in face of trade row, financial risk

Bejing - China's economy grew more than expected in the first quarter as it withstood headwinds from Beijing's fight against financial risk and pollution, and trade tensions with the United States.

Cuba: Castros, communism and cigars

Havana - Cuba opens a new chapter when Raul Castro steps down from the presidency on April 19, ending six decades of single-family rule launched by his brother Fidel.Here are some key facts about the island.

Billionaire Slim jumps into Mexico election spat over airport

Mexico - Mexican billionaire Carlos Slim defended one of his prized investments Monday -- a huge new airport for Mexico City -- against the leading candidate for the country's presidential election, who has threatened to cancel the project.

China, Japan vow 'new starting point' in ties

Apo - Asian rivals China and Japan on Monday pledged a "new starting point" for bilateral ties, vowing to co-operate closely amid a flurry of diplomacy on the North Korean missile threat.

Full steam ahead for Mozambique's rail network

Nampula - Dozens of passengers line up in single file along the platform in the dead of night, ready to gather their luggage and pile into the ageing railway carriages.

A down market for passenger cars causes GM to cut 1,500 jobs

General Motors plans to cut a shift at its Lordstown Assembly plant in Ohio, cutting as many as 1,500 workers, in an apparent reflection of the downturn in the market for passenger cars.

'Godfather' of gambling: Macau magnate Stanley Ho

Fpo - Macau gambling tycoon Stanley Ho, who has announced his retirement from his flagship company SJM, made his riches by transforming neighbouring Macau from a sleepy Portuguese outpost into the world's biggest casino hub.

US, China talking on trade frictions, says OECD boss

Apo - The United States and China are negotiating behind the scenes to ease trade tensions, the head of the OECD said Friday, stressing that "nobody wins" in a high-level trade war.

New VW boss vows reform, 'not revolution' to overcome diesel scandal

Wolfsburg - Volkswagen's new chief vowed Friday to push on with reform and cultural change to steer the German auto giant out of the cloud of the "dieselgate" scandal and into a future of electric cars and sustainable mobility.

Raul Castro's reforms in Cuba: a work in progress

Havana - In 2018, a Cuban can run his own business, surf the internet and travel abroad with fewer restrictions.

Scandal-hit Volkswagen set to name new CEO

Berlin - German car giant Volkswagen is set to replace its chief executive Matthias Mueller Thursday, as it struggles to move on from the "dieselgate" emissions scandal that has mired the company since 2015.

New Zealand halts new offshore oil and gas exploration

Wellington - New Zealand is halting all new offshore oil and gas exploration to become a global leader in the fight against climate change, the centre-left government said Thursday, but opponents accused it of "economic vandalism".

Saudi Aramco signs $44 bn deal for mega Indian refinery

New Delhi - Saudi Aramco on Wednesday announced a $44-billion deal to build a giant refinery complex in India with three Indian firms that will become a crucial new outlet for the world's biggest supplier.

Glencore CEO quits Rusal board after US sanctions

Zurich - Swiss mining mammoth Glencore said Tuesday its chief Ivan Glasenberg had resigned from the board of Russian aluminium giant Rusal after it was hit with US sanctions and saw its share price collapse.

Saudi prince meets Macron amid regional tensions

Paris - Saudi Arabia's crown prince was set for talks with French President Emmanuel Macron on Tuesday at the end of a three-day trip that has seen the two men discuss war and crisis in the Middle East as well as sources of friction between themselves.

Saudi crown prince wraps up official visit to France

Paris - Saudi Arabia's crown prince wraps up his official visit to France Tuesday with a gala dinner hosted by President Emmanuel Macron, as the young leaders seek to shore up cooperation despite lurking differences.

Saudi Arabia seeks French help for music, opera and cinema

Paris - Saudi Arabia will employ French expertise to set up a national opera and orchestra, under an agreement signed Monday during a visit to Paris by the kingdom's modernising Crown Prince Mohammed bin Salman.

Aluminium giant Rusal shares collapse after US sanctions

Moscow - Shares in Russian aluminium giant Rusal collapsed on Monday after Washington targeted it with sanctions, putting the metals major at risk of defaulting on part of its debt.
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US GDP  2010 to 2012
US GDP 2010 to 2012
Eurozone is lost in translation as EU collapses
Eurozone is lost in translation as EU collapses
Along with the closeout merchandise and surplus merchandise markets  the returned merchandise and li...
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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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Hawaii: APEC 2011
APEC
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"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
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UK - London: Occupy London, 2012
xpgomes9
Canberra: Bus Depot Markets.
Canberra: Bus Depot Markets.
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"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
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A store advertising its sales
the justified sinner
Comparison of debt in countries with the Euro as currency
Comparison of debt in countries with the Euro as currency
Obama addresses Congress - State of the Union Address 2013
Obama addresses Congress - State of the Union Address 2013
Chuck Kennedy / White House
Canberra: Bus Depot Markets.
Canberra: Bus Depot Markets.
Stephan Ridgway
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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millenials by the numbers
From http://blog.k12.com/
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"Assembly." Detroit Publishing Company, 1923 May 7. Touring Turn-of-the-Century America: Photographs from the Detroit Publishing Company, 1880-1920.
Library of Congress
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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The French Stock Market (La Bourse) in Paris
Sebche on Flick'r
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Sen. Hatch, left, enjoys some Ogden chili.
Hatch DC office