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Economy News

Made to order at N. Korea's blacklisted art factory

Pyongyang - "That was a personal commission," says renowned North Korean sculptor Ro Ik-Hwa, pointing to a bust of A.Q. Khan, the Pakistani scientist denounced by the US as the world's greatest nuclear proliferator.

Made to order at N. Korea's blacklisted art factory

Pyongyang - "That was a personal commission," says renowned North Korean sculptor Ro Ik-Hwa, pointing to a bust of A.Q. Khan, the Pakistani scientist denounced by the US as the world's greatest nuclear proliferator.

Made to order at N. Korea's blacklisted art factory

Pyongyang - "That was a personal commission," says renowned North Korean sculptor Ro Ik-Hwa, pointing to a bust of A.Q. Khan, the Pakistani scientist denounced by the US as the world's greatest nuclear proliferator.

Germany's Merkel warns Trump against protectionism

Berlin - German Chancellor Angela Merkel warned Saturday against protectionist tendencies of US President-elect Donald Trump, citing lessons learned in the 2008 global financial crash and stressing the need to "move forward together".

Chinese leader meets Davos elite as voters revolt

Paris - China's president will preach the advent of a new world order in Davos next week before the high priests of globalisation, who are facing an uprising from voters against their orthodoxy of open markets and borders.

Governments grapple with globalisation backlash

Paris - Governments stung by the political backlash from disgruntled voters left worse off by three decades of globalisation are now scrambling for solutions, but there is no easy fix and the populist remedies on offer risk making things even worse, analysts s...

The EU-Canada trade pact: some key questions

Paris - Every trade agreement produces winners and losers and the free-trade deal between the EU and Canada, still pending ratification, is no exception.The deal is just one example of controversy ignited by trade talks.

In Angola, 'word of God preached in a store'

Luanda - Pastor Gabriel Baptiste of the Pentecostal "Bread of Life" church in the Angolan capital Luanda preaches in a premises that used to be a busy barber's shop.

Big investors in Turkey to be allowed citizenship

Istanbul - Turkey will grant citizenship to those who invest or buy valuable property in the country, the Official Gazette said Thursday, as it tries to boost its flagging economy.

Turkey's Erdogan equates lira fall to 'terrorism'

Ankara - President Recep Tayyip Erdogan on Thursday blamed a conspiracy aimed at weakening Turkey for the recent plunge in value of the lira, saying those who worked to pressure the currency were no different from a "terrorist".

Powerful growth sets scene for German election debate

Berlin - Europe's biggest economy Germany booked solid growth in 2016, official data showed Thursday, with a sizeable surplus in its public finances set to fuel fierce political debate in an election year.Growth of 1.

Italy court rejects labour law referendum

Rome - Italy's constitutional court on Wednesday rejected a petition calling for a referendum on a key plank of labour market legislation that was a flagship reform of ousted premier Matteo Renzi.

Brazil likely to speed up rate cuts to fight crisis

Bras - Analysts expect Brazil's central bank to speed up the pace of interest rate cuts on Wednesday as Latin America's biggest economy struggles to escape its worst recession in a century.

Venezuela boosts minimum wage by 50 percent

Caracas - Embattled President Nicolas Maduro on Sunday raised the minimum wage by 50 percent in Venezuela, a country with astronomical inflation.

Egyptians throw parties to save in 'money pools'

Cairo - As belly dancers sway to the music of an Egyptian band playing at a young girl's birthday party, the guests count their cash to add to the pot.

Cuba signs first exports to US in half a century

Havana - Two firms signed a deal Thursday for the first commercial exports in half a century from Cuba to the United States, a new step in the countries' historic rapprochement.

Brexit will be 'tough' and 'complicated': UK finance minister

London - British Finance Minister Philip Hammond has warned that Brexit negotiations would be difficult, but said he hoped to maintain strong economic ties with the European Union.

With tourists scarce, Egypt struggles to maintain heritage

Cairo - With a shaky economy following years of unrest and a huge drop in tourists, Egypt is struggling to preserve its fabled archaeological heritage.

More protests in Mexico over gasoline price hike

Mexico - Mexicans angry over a steep hike in gasoline prices blocked roads around the country, but the government refused to budge on the energy reform behind the increase.

Mexicans march to protest rise in gasoline prices

Mexico - Hundreds of irate Mexicans marched in Mexico City to protest a steep rise in gasoline prices.

Turkmenistan halts gas flow to Iran in arrears row

Tehran - Turkmenistan halted gas supplies to Iran Sunday amid tensions between the two countries over arrears, the Iranian National Gas Company was quoted by oil ministry news agency Shana as saying.

Cuba reports banner tourism year in 2016

Havana - Cuba welcomed a record four million tourists in 2016, up 13 percent over last year, with much of the increase thanks to a crush of visitors from the US and Europe, officials said on Saturday.

Mexicans plan protests over New Year fuel price hike

Mexico - Mexicans are bracing to kickstart the New Year on a sour note, with protests planned against the government's huge hike in gasoline prices.

Seeking investment, Ukraine calls off its tax police

Kiev - Ukrainian President Petro Poroshenko on Friday tried to bring in foreign investment and slash corruption by temporarily banning the tax police from conducting unannounced checks on companies' operations.

Haiti's political uncertainty stunts economic growth

Port-au-prince - Haiti's economy expanded by only 1.4 percent this year, according to official figures released Wednesday, as the impoverished country's electoral crisis is discouraging investment, with prospects for 2017 even more dismal.

Venezuelans get new coins, still waiting on bills

Caracas - New Venezuelan coins began circulating Wednesday in the capital Caracas, but long-awaited new bills had yet to arrive, prolonging the chaos unleashed by a botched currency reform.

Venezuela receives more new banknotes, but scarcity persists

Caracas - Venezuela took delivery Tuesday of its third load of new, bigger denomination banknotes, its central bank said, but there was no sign of them in circulation yet despite official promises and mounting public anxiety.

India's Tata sues ex-chief for alleged breach of confidentiality

Mumbai - Indian salt-to-steel conglomerate Tata upped the ante in their bitter dispute with ousted former chairman Cyrus Mistry on Tuesday, saying they were suing him for breach of confidentiality.

Argentine finance minister sacked amid stubborn recession

Buenos Aires - Argentine President Mauricio Macri sacked his finance minister Alfonso Prat-Gay on Monday, shaking up his economic team amid a stubborn recession that has made his center-right reforms deeply unpopular.

Greek minister sends Dickensian jibe for Xmas

Atenas - The Greek finance minister's Christmas cards this year feature Ebenezer Scrooge, the tight-fisted protagonist of Charles Dickens' "A Christmas Carol", in a what is clearly a jibe directed at the country's creditors.
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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
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UK - London: Occupy London, 2012
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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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Russian President Vladimir Putin has forecast the economy will bounce back 1.4 percent in 2017
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The French Stock Market (La Bourse) in Paris
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Canberra: Bus Depot Markets.
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Geithner to leave in consideration of family.
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UK: HM Treasury entrance
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Obama addresses Congress - State of the Union Address 2013
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President Obama delivers his State of the Union address at the U.S. Capitol, D.C.
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A store advertising its sales
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Hawaii: APEC 2011
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