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

Venezuela’s Misery Could Worsen With Debt Default

Luber Faneitte has lung cancer but there’s no medicine to treat it. She cannot make ends meet. Crime is rampant in her neighborhood. And she fears that if Venezuela defaults …

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Indian Wheat Makes History, Arriving in Afghanistan Via Iran

Afghanistan has received an inaugural consignment of wheat from India through an Iranian port, opening a new trade and transit route for the landlocked nation that bypasses neighboring Pakistan. The …

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Trump Arrives in Hanoi

U.S. President Donald Trump arrived in Hanoi, Vietnam’s capital, Saturday evening for a state banquet, followed by a day of meetings with Vietnamese leaders. He has been in Danang, where …

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Happy ‘Singles Day’: Chinese Spend Billions in Annual Shopping Spree

Chinese consumers are spending billions of dollars shopping online for anything from diapers to diamonds on “Singles Day,” a day of promotions that has grown into the world’s biggest e-commerce …

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Despite Tough US Talk on Trade, Experts See Greater Trade Opportunities

Despite President Donald Trump’s tough talk on trade at the Asia-Pacific Economic Cooperation summit in Vietnam, international business leaders say they are excited by the prospects of greater cooperation among …

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Finding a Life, Purpose and Success Through Pizza

Kurdish refugee Hakki Akdeniz left Turkey in 1999 and came to New York City. At times he was homeless and often wondered where his next meal would come from. But …

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Critics: Britain Dragging Its Feet on Tax Haven Clampdown as Brexit Looms

From Britain’s Queen Elizabeth to Formula One racing champion Lewis Hamilton — the leak of more than 14 million documents from firms involved in offshore finance, known as the Paradise …

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Maine Blueberry Harvest Down as Industry Looks for Buyers

Maine’s wild blueberry crop fell sharply this summer to land below 100 million pounds (45.3 million kilograms) for the first time in four years, according to a trade group that …

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Falling Cocoa Prices Hit African Farmers

The large drop in global cocoa prices has hurt African farmers, leading some to abandon their plantations. In Cameroon, however, cocoa producers are mapping out ways to encourage more local …

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Trump’s China Stop Provides Feel Good Breather, but Challenges Remain

President Donald Trump’s two-day stop in China saw the signing of $250 billion in deals between the world’s two biggest economies and the two countries aligning themselves closer in resolute …

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Wall Street on a Run That’s Shattering Milestones

Donald Trump warned that the stock market was a “big, fat, ugly bubble” just weeks before he was elected. A year later, Wall Street remains on a milestone-shattering run that …

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Bloomberg Gives $50 Million to Aid Shift from Coal Worldwide

Former New York mayor and billionaire Michael Bloomberg is donating $50 million to help nations around the world shift from coal to combat pollution and climate change, expanding his funding …

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Mnuchin to Fill Fed Vacancies, Awaits Yellen’s Decision

Treasury Secretary Steven Mnuchin said Wednesday that Janet Yellen has not said yet whether she plans to remain on the Federal Reserve board when her term as chair ends in …

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US Commerce Secretary to Sell Stake in Firm With Russian Ties

Commerce Secretary Wilbur Ross plans to completely divest from a shipping company that counts a Russian gas producer with ties to the Kremlin among its major customers.   A commerce …

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EU Pushes Cut in Car Emissions, Boost for Electric Vehicles

The European Commission said Wednesday it wants to cut emissions of carbon dioxide from cars by 30 percent by 2030 and boost the use of electric vehicles by making them …

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Emerging Nations Urge Wealthy Countries to Kick-start Climate Pact Before 2020

Emerging nations pressed developed countries Wednesday to step up cuts in greenhouse gas emissions by 2020 to kick-start the Paris climate agreement, saying the rich were wrongly focused on 2030 …

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Argentine Vineyards Complain Tax Proposal Would Crush Business

Wine producers in Argentina, renowned for its plush Malbecs, are furious over a tax proposal they say would crush exports and domestic sales as vineyards struggle after two of their …

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Venezuelan Crisis Spawns Boom in Gambling

Players line up beside a small kiosk in a poor neighborhood to choose animals in a lottery game that has become a craze in Venezuela even as the oil-rich country …

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US Senate Panel Targets Chinese Banks with North Korea Sanctions

The U.S. Senate Banking Committee unanimously backed new sanctions targeting Chinese banks that do business with North Korea on Tuesday, just before President Donald Trump visits Beijing for the first …

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National Assembly: Venezuela’s January-October Inflation 826 Percent

Inflation in Venezuela’s crisis-hit economy was 826 percent in the 10 months to October and may end 2017 above 1,400 percent, the opposition-controlled National Assembly said Friday. The government stopped …

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Island Nations Fear ‘Apocalyptic’ Storms Will Overwhelm Them

Unless emissions can be drastically and quickly curbed, efforts by small island nations to adapt to climate change may be in vain, a leader of a group of small island …

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FIFA Demands Visa, Work Permit and Tax Exemptions for 2026 World Cup

The United States and other countries hoping to host the 2026 World Cup should provide government guarantees on visa-free travel plus work permit and tax exemptions for their bids to …

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