Economy

Economy news. Economy refers to the system of production, distribution, and consumption of goods and services within a society. It encompasses everything from individual spending and business operations to government policies and international trade. The economy is influenced by numerous factors, including supply and demand, inflation, employment rates, and fiscal policies

Turkey Business Lobby Calls for end to Emergency Rule

Turkey’s main business lobby on Thursday called on the government to end the state of emergency as parliament extended it for a sixth time since it was imposed after an …

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Nigeria Moves Closer to Turning Long-awaited Oil Bill Into Law

Nigeria moved closer to turning the first part of a long-awaited oil industry bill into law after the lower house passed the same version of the legislation approved by the …

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China’s Economy Posts First Annual Increase Since 2010

China’s economy surged in 2017, posting a 6.9 percent increase from the year before — its first annual increase in seven years. The figures announced Thursday by the National Bureau of …

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Iraq, BP Sign Initial Deal to Develop Kirkuk Oil Fields

Iraq and British energy giant BP have signed a memorandum of understanding to develop lucrative oil fields in the country’s north.   The Oil Ministry’s statement quotes BP’s president for …

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Emirates Throws Airbus A380 a Lifeline With $16 Billion Deal

The Middle East’s largest airline, Emirates, announced Thursday it struck a deal with Airbus to purchase 20 A380 aircraft with the option to buy 16 more in a deal worth …

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Dow Closes Above 26,000, Just 8 Sessions After Earlier Milestone

Wall Street roared upward Wednesday, with investor enthusiasm sending all three major stock indices to record finishes, and the Dow to its first close above 26,000 points. The blue-chip Dow gained …

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US Financial Crime Fighters Eye Overseas Virtual Currency Platforms

Financial crime fighters at the U.S. Treasury are “aggressively” pursuing virtual currency platforms that lack strong internal safeguards against money laundering, a top official told a Senate panel on Wednesday. …

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Gourmet Chocolate Becomes Economic Lifeline in Venezuela

In a modest apartment near a Caracas slum, nutrition professor Nancy Silva and four aids spread rich, dark Venezuelan cocoa on a stone counter to make chocolate bars to be …

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El Salvador Eyes Work Scheme with Qatar for Migrants Facing Exit from US

El Salvador is discussing a deal with Qatar under which Salvadoran migrants facing the loss of their right to stay in the United States could live and work temporarily in …

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Mexican Car Sales Slump Ahead of Election

Car dealerships in Mexico City have kicked off the new year offering “clearance sales” and free insurance as 2017 models collect dust on their lots, a reminder that consumer nerves …

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Paper: IMF Concerned by Ukraine’s Anti-Corruption Draft Law

The International Monetary Fund has told the Ukrainian authorities that it does not support a draft law to create an anti-corruption court because the bill does not guarantee its independence, …

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Energy Agency Sees Oil Price Decline, But Analyst Predicts a Boom

Crude oil prices reached a 30-month high this week. But the government agency that analyzes and disseminates energy information says the rally may have run its course. The Energy Information …

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Wahlberg Donates $1.5 Million After Pay Gap Outcry

Following an outcry over a significant disparity in pay between co-stars, Mark Wahlberg agreed Saturday to donate the $1.5 million he earned for reshoots for All the Money in the …

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Protests in Tunisia Spur Government to Pledge Aid to Poor

Tunisia plans to increase aid for poor families by $70.3 million, after nearly a week of protests over austerity measures, an official said Saturday. “This will concern about 250,000 families,” …

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Report: Traffic Fatalities Hold Back Developing Economies

Deadly traffic accidents are more than just individual tragedies. They’re a drag on economic growth in developing countries, according to a new World Bank report. The study is among the …

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Awash in Corn, Soybeans, US Farmers Focus on Trade Deals

For Illinois farmer Garry Niemeyer, it’s a slow time of year, spent indoors fixing equipment, not outdoors tending his fields, which now lie empty. All of his corn and soybeans …

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Awash in Corn, Soybeans, U.S. Farmers Focus on Trade Deals

The United States Department of Agriculture reports record harvests of corn and soybeans in the United States in 2017, with stocks overflowing at elevators and storage bins across the country. …

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Protests Erupt Again in Tunisia, Cradle of 2011 Arab Spring

Protesters took to the streets in towns and cities across Tunisia for a fourth day Friday, as anger grows over price hikes introduced by the government. Demonstrations in 2011 in …

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Transit Shutdown in Greece as Unions Strike for Right to Strike

The Athens subway came to a standstill Friday as Greeks protested new reforms that parliament is set to approve Jan. 15 in return for bailout funds, including restrictions on the …

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As Sanctions Bite, China Trade With North Korea Plummets

China’s trade with North Korea plunged 50 percent in December as U.N. sanctions imposed over Pyongyang’s nuclear and missile development tightened, the government reported Friday.   China accounts for nearly …

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Fiat Chrysler to Invest $1 Billion in Michigan Plant, Add 2,500 Jobs

Fiat Chrysler Automobile said on Thursday it will shift production of Ram heavy-duty pickup trucks from Mexico to Michigan in 2020, a move that lowers the risk to the automaker’s …

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Saudis Open Car Showroom Just for Women

Women flocked to Le Mall in Jeddah on Thursday to check out the kingdom’s first car exhibition aimed at women, a few months after Saudi Arabia granted them the right …

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