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

Price of Cigarettes in New York to Soar to Nation’s Highest

The price of a pack of cigarettes has skyrocketed in New York City, while the number of places they are available for sale is set to fall. New York Mayor …

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Kenya Bans Plastic Bags

Kenya has become the latest African country to ban the use of polythene plastic bags, imposing stiff fines and even jail time for anyone found using, importing or manufacturing the …

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Harvey Could Have Deep Impact on Texas Oil, US Economy

Massive flooding caused by Tropical Storm Harvey along Texas’ refinery-rich coast could have long-standing and far-reaching consequences for the state’s oil and gas industry and the larger U.S. economy. The …

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Yellen: Financial System Safer, But Adjustments May Be Needed

The head of the U.S. central bank says the financial system is safer now than it was before the recession, and urges Washington to make some adjustments in financial regulations, …

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US, South Korea Agree to Disagree on Trade

South Korea this week pushed back against the United States’ demand to renegotiate the free trade agreement (FTA) between the close allies.  U.S. President Donald Trump has repeatedly criticized the …

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S. Korea Pushes Back on US Call to Renegotiate Trade Pact

South Korea this week pushed back against the United States’ demand to renegotiate the free trade agreement (FTA) between the close allies.  U.S. President Donald Trump has repeatedly criticized the …

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Vietnamese Consumers Resist China as Officials Try to Get Along

When Ha Tran of Ho Chi Minh City shops for food, clothes or electronics, she avoids merchandise she can tell comes from Vietnam’s giant neighbor, China. It might not work, …

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Samsung Leader Jay Y. Lee Given 5-Year Jail Sentence for Bribery

The billionaire head of South Korea’s Samsung Group, Jay Y. Lee, was jailed for five years for bribery on Friday after a six-month trial over a scandal that brought down …

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Decree Opening Brazil’s Amazon to Mining Criticized

Environmentalists are condemning a decree by Brazilian President Michel Temer allowing mining in the heart of the Amazon. The measure strips protection from a national reserve between the northern states …

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Stonehenge: Australia’s Forgotten Farmers

Stonehenge is dry and has been for too long — seven years too long. You can taste the dust well before you cross the cattle grids that cut the only …

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Washington Budget Bickering Could Hurt US Credit Rating Again

Experts at credit rating agencies are watching Washington’s political squabbling over budgets and spending closely, and they might make another cut in the U.S. credit rating if the Republican-controlled White …

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Trump’s NAFTA Termination Comment Falls Flat in Arizona

President Donald Trump’s comments at a Phoenix rally that he will probably end up terminating the North American Free Trade Agreement brought cheers from the crowd but groans from the …

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US Federal Spending, Debt Ceiling: What You Need to Know

President Donald Trump said Tuesday that he was willing to shut down the government to get funding for a U.S.-Mexico border wall, complicating two must-pass measures Congress will take up …

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Egypt Pins Export Hopes on New Leather Production City

Just beyond the outskirts of Cairo on a desert road to the Suez Canal, a sprawling industrial zone is coming to life as Egypt’s leather industry leaves behind its ancient …

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Trans-Alaska Pipeline Celebrates 40 Years

Oil is the main revenue source in Alaska. This year, the trans-Alaska pipeline celebrated 40 years of service. From Alaska, VOA’s Natasha Mozgovaya looks at the history of North America’s …

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With Tax Talk Heating Up, Republicans Modify Plan for Businesses

Congressional Republicans, seeking to address the complaints of small businesses, are floating changes to their controversial proposal to eliminate business tax deductions for debt interest payments, business lobbyists said Tuesday. …

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Chieftain: Indigenous People Seize Some Facilities on Peru Oil Field

Indigenous people living on Peru’s largest oil field concession have seized some facilities operated by Frontera Energy demanding that the government apply an indigenous rights law before signing a new …

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Jordan Opens First Job Center in Syrian Refugee Camp

Jordan has opened its first job center inside a refugee camp, unlocking work opportunities across the country for thousands living in the world’s largest Syrian refugee camp, the U.N. labor …

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Argentina Labor Unions Protest Job Losses, Macri Policies

Argentina’s main labor unions took to the streets of the capital on Tuesday demanding more jobs and protesting center-right President Mauricio Macri’s economic policies. Tens of thousands of workers gathered …

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Trump Rebuffs Coal Industry; CEO Claims Promise Broken

The Trump administration has rejected a coal industry push to win a rarely used emergency order protecting coal-fired power plants, a decision contrary to what one coal executive said the …

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Ford, Chinese Partner Look at Possible Electric Car Venture

Ford Motor Co. and a Chinese automaker said Tuesday they are looking into setting up a joint venture to develop and manufacture electric cars in China.   Ford’s potential venture …

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Ford Offers Brits Incentives to Trade in Older Cars

Ford Tuesday became the latest carmaker to launch a car scrappage scheme in Britain, joining the likes of BMW and Mercedes-Benz, after months of procrastination from the government over whether …

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