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Economy News

Mexican state oil firm Pemex losses $18.3 bn in 2019

Mexico - Mexico's state oil company Pemex on Thursday reported losses of 346 billion pesos ($18.3 billion) for 2019, a 92 percent increase on last year's deficit.

World Bank to attack poverty in conflict zones

Washington - The World Bank launched a new effort Thursday to combat extreme poverty by expanding work in countries beset by violence.

Queens College helps boost New York City economy by $1.8 billion

According to an economic impact study, Queens College has helped boost the New York City economy with $1.8 billion in total impact.

Ukraine destroys 37,000 bottles of adulterated vodka

Kiev - Ukrainian authorities began the task of destroying 37,000 bottles of illicit adulterated vodka on Wednesday, a national "record" in a country where consumption of illegal alcohol regularly poisons and even kills.

Coronavirus generates rash of swindlers in Italy

Milan - From jacking-up the prices of disinfectant gel to scammers posing as Red Cross volunteers, Italy's battle to contain its coronavirus outbreak has been a gift to grifters of various stripes.

G20 ministers weigh coronavirus risks at Saudi meeting

Apo - Finance ministers and central bank governors from G20 nations weighed the potential impact of the coronavirus epidemic on the world economy as they met in Riyadh Saturday for a two-day gathering.

G20 ministers weigh coronavirus risks at Saudi meeting

Apo - Finance ministers and central bank governors from G20 nations weighed the potential impact of the coronavirus epidemic on the world economy as they met in Riyadh Saturday for a two-day gathering.

Saudi hosts G20 financial leaders amid coronavirus alarm

Apo - Finance ministers and central bank governors from G20 nations meet in the Saudi capital Saturday for a two-day gathering to discuss the global economy and the risks from the coronavirus epidemic.

Saudi hosts G20 financial leaders amid coronavirus alarm

Apo - Finance ministers and central bank governors from G20 nations meet in the Saudi capital Saturday for a two-day gathering to discuss the global economy and the risks from the coronavirus epidemic.

Argentina faces race against time to renegotiate debt

Buenos Aires - Backed by the IMF, Argentina is looking to renegotiate its debt but it faces a race against time to secure short term relief.

US economy solid, but virus could hit supplies: Fed's Clarida

Washington - The US economy is starting the year in a strong position but the virus outbreak in China has the potential to create drag, a top Federal Reserve official said Thursday.

Benefits of China trade truce 'limited': Fed officials

Washington - While US trade tensions with China have receded, Federal Reserve officials worry the danger to the economy is not over, according to minutes of the last policy meeting released Wednesday.

Benefits of China trade truce 'limited': Fed officials

Washington - While US trade tensions have receded, including with China, Federal Reserve officials worry the danger to the economy is not over, according to minutes of the last policy meeting released Wednesday.

Russia raises eyebrows with blanket ban on Chinese visitors

Moscow - Moscow is to impose a blanket ban on Chinese visitors over coronavirus fears in a move that will hit its tourism industry as experts question the need for such "draconian" measures.

Merkel predicts 'very tough' EU budget summit

Berlin - German Chancellor Angela Merkel said Wednesday that talks to set the European Union's budget for the coming seven years will be "very difficult" at an extraordinary summit beginning Thursday.

IMF warns China virus hitting a fragile global economy

Washington - In the best-case scenario, the economic hit from the epidemic in China will be short-lived, but it comes as the global economy remains fragile, IMF chief Kristalina Georgieva said Wednesday.

Thousands protest in Greece against pension overhaul

Athens - Thousands protested in Greece on Tuesday against a new pension reform as a 24-hour strike paralysed transport and services.Some 10,000 people demonstrated in the capital against the reform, which encourages a longer stay in the workforce, police said.

Japan suffers worst economic slump in five years

Apo - Japan has suffered its worst quarterly GDP contraction in more than five years, with a tax hike and a deadly typhoon taking a toll on the world's third-largest economy.The nation's gross domestic product in the three months to December shrank 1.

Southeast Asia feels the burn as virus keeps Chinese tourists at home

Luang Prabang - Elephant parks unvisited, curios at markets unsold as tuk-tuks sit idle: Southeast Asia is facing billions of dollars in losses from a collapse in Chinese tourism since the outbreak of a deadly new coronavirus.

Israel strikes Gaza, cancels easing of restrictions

Jerusalem - The Israeli air force attacked Hamas positions in the Gaza Strip on Saturday in retaliation to rocket fire from the Palestinian enclave into Israel, a military statement said.

British finance minister quits in reshuffle shock

London - Sajid Javid quit as Britain's finance minister on Thursday just weeks before the scheduled annual budget statement, in a shock move provoked by Prime Minister Boris Johnson's attempts to shake up his cabinet after Brexit.

COVID-19 causing first drop in oil use in decade: IEA

Paris - Global oil demand will suffer its first quarterly drop in a decade as the COVID-19 virus lashes the economy in China and its impact ripples throughout the world, the IEA said Thursday.

IMF begins debt talks in Argentina

Buenos Aires - Recession-hit Argentina opened talks Wednesday with a team from the IMF, seeking relief from what President Alberto Fernandez says is an unsustainable foreign debt.

IMF due in Argentina for debt restructuring talks

Buenos Aires - Recession-hit Argentina opens talks this week with a team from the IMF, seeking relief from what President Alberto Fernandez says is an unsustainable foreign debt.

What is the Coastal GasLink Pipeline protest all about?

Victoria - Growing anti-pipeline protests in British Columbia and across Canada over the Coastal GasLink Pipeline have forced CN Rail to temporarily discontinue service in key corridors, raising fears the protests will impact Canada's economy.

Brazil's Vale reports big slump in 'challenging' year

Rio De Janeiro - Brazilian mining giant Vale said Tuesday its iron-ore production plunged in 2019, calling it "the most challenging year of its history" after a dam collapse at one of its mines killed 270 people.

UK approves high-speed railway despite soaring cost

London - Britain said Tuesday it will begin full construction work on its new high-speed railway line in April following years of delays, after Prime Minister Boris Johnson backed the project despite soaring costs.

Pyongyang still importing oil, cars, alcohol illegally: UN

New York - North Korea, which has been hit by a series of UN sanctions, is illegally importing more and more oil and continues to bring in luxury cars and alcohol, according to an annual report delivered Monday to the UN Security Council.

Trump: Time to negotiate 'very seriously' with EU on trade

Washington - President Donald Trump said Monday the time has come to pursue trade negotiations with the European Union which he said imposes "incredible" barriers to US goods.

Motorcycle taxi ban brings Lagos to a halt

Lagos - Even before a sudden controversial ban on motorcycle taxis and tricycles in Nigeria's commercial capital, Lagos, crippling traffic jams were a daily ordeal for its more than 20 million inhabitants.
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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
Comparison of debt in countries with the Euro as currency
Comparison of debt in countries with the Euro as currency
Berlin:  We are the Champions
Berlin: "We are the Champions"
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
Shoppers entering a Loblaws store.
Shoppers entering a Loblaws store.
Digital Journal
 Assembly.  Detroit Publishing Company  1923 May 7. Touring Turn-of-the-Century America: Photographs...
"Assembly." Detroit Publishing Company, 1923 May 7. Touring Turn-of-the-Century America: Photographs from the Detroit Publishing Company, 1880-1920.
Library of Congress
Occupy London Stock Exchange
Occupy London Stock Exchange
Eman Jueid / Aslan Media
Untitled
Donald J. Trump
Fred Olsen Windcarrier s Brave Term  jack-up vessel was used in the construction of the Block Island...
Fred Olsen Windcarrier's Brave Term jack-up vessel was used in the construction of the Block Island Wind Farm.
Fred Olsen Windcarrier
US GDP  2010 to 2012
US GDP 2010 to 2012
Backus  Schoenholtz  Coronado  and Reinhart at the Economic Outlook Forum at NYU Stern on September ...
Backus, Schoenholtz, Coronado, and Reinhart at the Economic Outlook Forum at NYU Stern on September 3, 2014
Canberra: Bus Depot Markets.
Canberra: Bus Depot Markets.
Stephan Ridgway
Sen. Hatch  left  enjoys some Ogden chili.
Sen. Hatch, left, enjoys some Ogden chili.
Hatch DC office
For sale sign
For sale sign
Diana Parkhouse (CC BY 2.0)
Along with the closeout merchandise and surplus merchandise markets  the returned merchandise and li...
Along with the closeout merchandise and surplus merchandise markets, the returned merchandise and liquidation industry generates over $100 billion dollars in revenue annually.
 We are the Champions : Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundhei...
"We are the Champions": Zukunftskongress Gesundheitswirtschaft des Bundesministeriums für Gesundheit in Berlin
Occupy London: The piazza of St Paul’s Cathedral
Occupy London: The piazza of St Paul’s Cathedral
Eman Jueid / Aslan Media
The economic divide in Cabbagetown.
The economic divide in Cabbagetown.
UK: HM Treasury entrance
UK: HM Treasury entrance
HM Treasury

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