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Economy News

China GDP grows record 18.3% in first quarter in virus rebound

Bejing - China's economy expanded at a record pace in the first quarter as the country continued its rapid recovery from last year's pandemic-fuelled slump, official data showed Friday.The 18.

Latin American pandemic recovery lagging: IMF

Washington - Latin America's recovery from the pandemic crisis is lagging the rest of the world and the economy will not return to its pre-pandemic level until 2024, the IMF warned Thursday.

India's desert salt farmers feel the heat from climate change

- Roshni Thakor left school to harvest salt from a sun-baked Indian desert, a backbreaking trade practised by her ancestors for centuries but now threatened by climate change.

China's big tech 'rectification' continues after Alibaba record fine

Bejing - A record fine, public penitence from a tech giant and a 'who's who' of digital firms warned to "rectify" their ambitions within a month -- state regulators are showing no one is bigger than Beijing in Xi Jinping's China.

Op-Ed: Britain vs debt vs Brexit vs trade vs revenue — Not too hilarious

London - The Johnson government has been borrowing on huge levels. Revenue is likely to be hit hard with falling trade and relocations of businesses outside the UK. This is not a facetious issue. It’s a real problem.

Brazil raises $620 mn in huge concession auction

S - Brazil wrapped up a massive auction Friday for concessions to operate 22 airports, a rail line and five ports with a total take of $620 million and planned investments of $1.75 billion in all.

Brazil eyes record grain harvest as China demand booms

Salto - Brazil is on track to harvest record amounts of soy, corn and other grains this year, fueled by newly booming demand for commodities, particularly from China.

International support grows for raising taxes to fund recovery

Washington - The IMF and United States on Wednesday gave a boost to the international campaign to raise taxes on wealthy firms that have done well during the pandemic in order to finance recovery efforts.

Salvage op delayed for Dutch cargo ship adrift in Norwegian Sea

Oslo - A Dutch cargo ship which has been adrift in rough seas off Norway for two days following a dramatic rescue of its crew cannot be towed to calmer waters until Thursday due to continuing poor weather, maritime authorities said.

'Men in Black' and 'Ghostbusters' to star in Sony's Thai theme park

Apo - "Men in Black" rides and "Jumanji" water slides are some of the star attractions of a theme park being jointly built in Thailand by Sony as the tech giant seeks to broaden its entertainment offerings.

IMF lifts China growth forecast to 10-year high

Bejing - The International Monetary Fund raised its 2021 growth forecast for China to 8.4 percent on Tuesday, as it projected a stronger global rebound from the pandemic but warned of "divergences in the speed of recovery".The figure is 0.

'Silent revolution': Myanmar workers strike to force junta's hand

Bangkok - Tens of thousands of Myanmar workers have gone on strike over the past two months, hoping that economic paralysis will force the hand of the wealthy generals who ousted civilian leader Aung San Suu Kyi on February 1.

As air travel picks up, United says it is hiring pilots

New York - United Airlines announced Thursday it will immediately start hiring pilots, beginning with a group of 300, to be ready to meet growing demand for air travel.

Sharp increase in destruction of virgin forest in 2020

Paris - An area of pristine rainforest the size of the Netherlands was burned or hacked down last year, as the destruction of the planet's tropical forests accelerated despite a global economic slowdown, according to research Wednesday.

Saudi plans economic overhaul with $3.2 trillion investment

Apo - Saudi Arabia announced plans Tuesday to pump investments worth $3.2 trillion into the national economy by 2030, roping in the oil-reliant kingdom's biggest companies in a major new economic diversification push.

Saudi plans economic overhaul with $3.2 trillion investment

Apo - Saudi Arabia on Tuesday announced plans to pump fresh investments worth $3.2 trillion into the national economy by 2030, as the top crude exporter accelerates economic diversification efforts.

Pandemic delays gender parity by a generation: WEF

Geneva - The pandemic has rolled back years of progress towards equality between men and women, according to a report released Wednesday showing the crisis had added decades to the trajectory towards closing the gender gap.

IMF sees global economy improving despite uncertainties

Washington - Economic growth led by the United States and China is accelerating, amplifying the risks of an uneven global recovery, the head of the IMF said Tuesday."In January we projected global growth at 5.

US not yet ready to lift tariffs on China: trade rep Tai

Washington - President Joe Biden's new trade negotiator has said the United States is not yet ready to lift tariffs on Chinese imports, but could be open to talks with Beijing.

China squeezes Western brands as Xinjiang backlash builds

Bejing - China on Thursday launched a PR war on Western brands critical of rights abuses against Uyghurs and other minorities in Xinjiang, with celebrities severing ties to Nike and Adidas, H&M facing a boycott and Burberry dumped from a deal with a gaming ...

Tencent boss vows 'compliance' with China regulators

Bejing - Tencent's billionaire founder Pony Ma -- China's second richest man -- has met anti-monopoly regulators and agreed his firm will be "as compliant as possible", after rival tech giant Alibaba was battered by legal woes.

Yellen defends IMF reserve increase aimed at poor nations

Washington - US Treasury Secretary Janet Yellen on Wednesday defended the IMF's move to boost its reserve offerings, calling the increased aid a "joint effort" to help the poorest nations hit by Covid-19.

Ship blocks Suez Canal after 'gust of wind' knocks it off course

Apo - A giant container ship ran aground in the Suez Canal after a gust of wind blew it off course, the vessel's operator said Wednesday, bringing marine traffic to a halt along one of the world's busiest trade routes.

White House considering $3 tn for US infrastructure: reports

Washington - President Joe Biden's administration is considering spending $3 trillion on infrastructure in the United States, split into two bills that face narrow paths to approval in Congress, US media reported on Monday.

Erdogan sacks central bank chief after interest rate hike

Istanbul - Turkey braced on Saturday for a new spell of financial turbulence after President Recep Tayyip Erdogan sacked his market-friendly central bank chief and replaced him with a former ruling party lawmaker.

Turkey sacks central bank governor after interest rate hike

Istanbul - Turkey fired the governor of its central bank and replaced him with economist and former ruling party lawmaker Sahap Kavcioglu, according to a presidential decree published late on Friday, in a move likely to raise concerns over the bank's independence...

Shame, frustration and dreams in Madrid's 'hunger lines'

Madrid - Although her face is covered by a black mask, Rita Carrasco still wears bright red lipstick. But her easy smile faltered when she had to join Madrid's "hunger lines" for food aid."It was a hard moment.

Chef's 'cry of despair' goes viral in lockdown Italy

Rome - A young Italian chef who has become a symbol of frustration with the never-ending coronavirus crisis said Thursday she wants Prime Minister Mario Draghi to listen to her "despair".

Luxury oasis draws elite Saudis locked in by pandemic

Apo - Well-heeled Saudis frolic in an artificial oasis built on salmon-coloured dunes, splashing the cash after a year-long pandemic lock-in that dovetails with efforts to discourage citizens from splurging overseas.

Brazil hikes interest rate, eying inflation

Bras - Brazil's central bank raised its benchmark interest rate Wednesday by a larger-than-expected 0.75 point to 2.75 percent, as rising inflation forced it to reverse its pandemic stimulus stance.
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For sale sign
For sale sign
Diana Parkhouse (CC BY 2.0)
 We are the Champions : Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundhei...
"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
Pudong  China s financial and commercial hub  situated in Shanghai.
Pudong, China's financial and commercial hub, situated in Shanghai.
Wikipedia
Polus-Tec Pre-cut plant  on the outskirts of Tokyo imports wood from all over the world and is fully...
Polus-Tec Pre-cut plant, on the outskirts of Tokyo imports wood from all over the world and is fully automated in delivering "pre-cut" beams in Japan's post and beam housing sector. It represents a potential growth opportunity to use hemlock from B.C.'s coast. The plant was visited by delegates on the 2018 Forestry Asia Trade Mission. Japan is B.C.'s third largest market for B.C. wood products.
BC Council of Forest Industries
The economic divide in Cabbagetown.
The economic divide in Cabbagetown.
Comparison of debt in countries with the Euro as currency
Comparison of debt in countries with the Euro as currency
Eurozone is lost in translation as EU collapses
Eurozone is lost in translation as EU collapses
US GDP  2010 to 2012
US GDP 2010 to 2012
Sen. Hatch  left  enjoys some Ogden chili.
Sen. Hatch, left, enjoys some Ogden chili.
Hatch DC office
The French Stock Market (La Bourse) in Paris
The French Stock Market (La Bourse) in Paris
Sebche on Flick'r
Occupy London Stock Exchange
Occupy London Stock Exchange
Eman Jueid / Aslan Media
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
An automated teller machine (ATM).
An automated teller machine (ATM).
Digital Journal
Berlin:  We are the Champions
Berlin: "We are the Champions"
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
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
Canberra: Bus Depot Markets.
Canberra: Bus Depot Markets.
Stephan Ridgway
Hawaii: APEC 2011
Hawaii: APEC 2011
APEC

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