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Economy News

Maiduguri: a humanitarian hub in Boko Haram territory

Maiduguri - Mangoes and watermelons, prayer mats and Chinese-made utensils are again filling the stalls of Maiduguri's markets, as they recover after years of Boko Haram violence.

Germany cannot scare Turkey with 'threats': Erdogan

Istanbul - Turkish President Recep Tayyip Erdogan on Friday told Germany it cannot scare Ankara with threats, in an escalating row over a wave of arrests that prompted Berlin to step up warnings to German tourists and investors.

N. Korea economy grows at fastest pace in 17 years: Seoul

Seoul - Despite global sanctions over its weapons programmes, North Korea's economy grew at the fastest pace in 17 years thanks to a jump in exports and increased production in mining and other industries, the South's central bank said Friday.

IMF approves $1.8 bn loan for Greece 'in principle,' no funds released

Washington - The International Monetary Fund late Thursday approved a one-year, $1.8 billion loan program for Greece but will not release any funds until the eurozone agrees on a debt relief plan, in a highly unusual compromise step.

BoJ slashes annual inflation forecasts

Toukyo - The Bank of Japan on Thursday slashed its annual inflation forecast and once again delayed its timetable for hitting a two percent target as the economy struggles to gain traction despite years of stimulus.

Strong export demand to lift Asian economies: ADB

Manila - Surging global demand for Asian exports and low oil prices will help China and the region's developing economies grow faster than expected this year and next, the Asian Development Bank said Thursday.The region should now grow by 5.

In Mongolia's yurt slums, nomads dream of city life

Ulan Bator - On the steep hills encircling Mongolia's capital, skyscrapers and apartments give way to ramshackle bungalows and tattered yurts, in rickety fenced enclosures with no running water.

Rwanda's essential oils offer big profits from little land

- Inside a metal shed in southeastern Rwanda, Nicholas Hitimana brandished a plastic container holding a green liquid: geranium essential oil, freshly distilled and ready for export at more than $200 (175 euros) a kilo.

Venezuela defies Trump, vows to vote on constitutional rewrite

Caracas - Venezuela's government defiantly brushed aside US President Donald Trump's threat of economic sanctions Tuesday by saying it will go ahead with the election of a controversial body to rewrite the country's constitution."Nothing and nobody can stop it.

Thai junta grants king full control of palace wealth

Bangkok - A new law giving Thailand's king direct control over royal assets worth billions of dollars went into force Monday, the latest move by an increasingly assertive monarch to consolidate his power.

Greece heading for bond market test 'within days'

Atenas - Bolstered by its third bailout programme and positive reports from the European Union, Greece is planning an imminent test of the bond market, local media said this weekend.

S.Africa's white enclave eyes move to e-cash

Johanesburg - A whites-only enclave in South Africa has resisted the country's multi-racial reality for more than two decades, even adopting its own paper money in its bid to promote self-sufficiency.

China's economy slows in second quarter: AFP survey

Bejing - China's economy lost momentum in the second quarter, a survey shows, as Beijing's efforts to curb risky lending and investment took a toll on the Asian powerhouse. The world's second-largest economy expanded by 6.

Asia facing dire future because of climate change without help

Bangkok - A report released on Friday paints a dire picture of the Asia-Pacific region's future as the globe warms, affecting the economic growth, health, development, food sustainability and security of hundreds of millions of the world's population.

Fitch keeps China's 'A+' rating but warns over debt

Bejing - Fitch Ratings warned Friday that China's growing debt could trigger "economic and financial shocks", but said it will maintain the country's A-plus rating with a stable outlook despite its concerns.

IMF cuts Brazil growth estimate for 2018

Washington - Brazil's economy appears to have turned a corner, but political uncertainty is on the rise, prompting the International Monetary Fund on Thursday to cut its 2018 growth forecast for the recession-hit country.

EU to crack down on terror art trafficking

Brussels - The EU said Thursday it would cut off financing for terror groups from the lucrative trade in priceless cultural artefacts stolen in war zones such as Syria and Iraq by imposing tough import controls.

Chinese exports, imports beat expectations in June

Bejing - Growth in Chinese exports and imports outstripped expectations in June, data showed Thursday, fuelling hopes of stability in the world's second-largest economy.Exports rose 11.3 percent from a year ago to $196.

Fed's Yellen: US economy needs only 'gradual' rate hikes

Washington - Federal Reserve Chair Janet Yellen said Wednesday that even as the US economy grows stronger and employment expands, she foresees only "gradual" interest rate increases in the next few years.

Fed's Yellen: US economy needs only 'gradual' rate hikes

Washington - Federal Reserve Chair Janet Yellen on Wednesday said even as the US economy grows stronger and employment expands, she foresees only "gradual" interest rate increases in the few years ahead.

Macron tax cuts to benefit France's richest, study finds

Paris - The richest 10 percent of France's households will likely benefit the most from tax cuts proposed by the new centrist government of French President Emmanuel Macron, a study showed Wednesday.

Accidental internet cut-off hits Somalia hard

Mugadishu - Last month, a baby was born in the Somali capital Mogadishu with a terrible eye defect that requires treatment abroad.

Myanmar workers in Thailand victims of a broken system

- With only meagre belongings stuffed into backpacks and duffel bags, tens of thousands of Myanmar migrants have streamed home across the Thai border over the past two weeks.

Canada sees solid job gains in June, most of them part-time

Statistics Canada released the latest numbers on the country's economy Friday, reporting that 45,000 jobs were added in June, nudging the unemployment rate down to 6.5 percent.

Poverty-hit Argentina chases elusive economic recovery

Buenos Aires - Mauricio Macri promised a free-market revolution in Latin America's third-biggest economy when he took over as president of Argentina.

Made in Myanmar: designers put ethical twist on local fashion

Yangon - With Myanmar emerging as a manufacturing hub for mass-produced clothes, a crop of young designers are using home-grown fashion to preserve the country's sartorial heritage and reshape the sweatshop model.

Trump bullish on 'blazing' economy but whose recovery is it?

Washington - As he rubs shoulders with leaders of the world's other major economies, Donald Trump is in a bullish mood about the US recovery even if there are clouds on the horizon.

Russia's Putin, China's Xi talk trade, North Korea at Kremlin

Moscow - Russian President Vladimir Putin and Chinese leader Xi Jinping met Tuesday against a backdrop of mounting tensions over North Korea ahead of G20 summit talks with US President Donald Trump.

Indian cinemas shut in tax protest

New Delhi - More than 1,000 cinemas in the Indian state of Tamil Nadu have closed in protest at a hike in taxes after the government introduced a nationwide levy.

New Syrian pound features Assad for first time

Damascus - The Syrian Central Bank has released the war-ravaged country's largest currency note yet, featuring the face of President Bashar al-Assad for the first time.
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President Obama delivers his State of the Union address at the U.S. Capitol  D.C.
President Obama delivers his State of the Union address at the U.S. Capitol, D.C.
Lawrence Jackson / White House
For sale sign
For sale sign
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US GDP  2010 to 2012
US GDP 2010 to 2012
Obama addresses Congress - State of the Union Address 2013
Obama addresses Congress - State of the Union Address 2013
Chuck Kennedy / White House
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UK - London: Occupy London, 2012
xpgomes9
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Comparison of debt in countries with the Euro as currency
Pudong  China s financial and commercial hub  situated in Shanghai.
Pudong, China's financial and commercial hub, situated in Shanghai.
Wikipedia
Sen. Hatch  left  enjoys some Ogden chili.
Sen. Hatch, left, enjoys some Ogden chili.
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Republicans just can t seem to find it in themselves to share the nation s enthusiasm over the recov...
Republicans just can't seem to find it in themselves to share the nation's enthusiasm over the recovery.
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Coronado, Schoenholtz, Reinhart, and Backus 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
Reinhart, Schoenholtz, Coronado at the Economic Outlook Forum at NYU Stern on September 3, 2014
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Occupy London: The piazza of St Paul’s Cathedral
Eman Jueid / Aslan Media
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
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millenials by the numbers
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Berlin: "We are the Champions"
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Occupy London Stock Exchange
Eman Jueid / Aslan Media
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Eurozone is lost in translation as EU collapses
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Hawaii: APEC 2011
APEC
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A store advertising its sales
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