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

Report: More Women in Workforce Would Add Trillions to World Economy

A new report by the International Labor Organization (ILO) says getting more women into the world labor market would add trillions of dollars to the global economy and boost tax …

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Qatari Businesses Find New Suppliers After Gulf Boycott

The sanctions imposed by Saudi Arabia and other Arab states on Qatar have been a blessing for Mohammed Kuwari and his al-Rawa brand of yoghurt. With competing Saudi products off …

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EIA: Wind, Solar Surpassed 10 Percent of US Electricity in March

Wind and solar accounted for more than 10 percent of U.S. electricity generation for the first time in March, the Energy Department’s Energy Information Administration said on Wednesday. Wind and …

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Federal Reserve Raises Interest Rate Slightly

Top officials of the U.S. central bank raised the benchmark interest rate slightly on Wednesday, as the recovering economy no longer seems to need quite as much of the boost …

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Big Data Gives China’s Top 3 Internet Firms Big Leverage

China’s three big Internet-driven companies, Alibaba, Tencent, and Baidu, are set to influence a vast section of the country’s business because they control data concerning the consumer and social behavior of millions of …

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Panama’s Business Chiefs Hope for Big Return From New Ties to Beijing

Panama’s business community on Tuesday cheered the Central American country’s decision to establish full diplomatic ties with China and ditch Taiwan, hoping to deepen links with a key customer of …

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Mexico’s Native Crops Hold Key to Food Security, Ecologist Says

Mexico’s ancient civilizations cultivated crops such as maize, tomatoes and chilies for thousands of years before the Spanish conquerors arrived — and now those native plants could hold the key …

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Record Hunger in Horn of Africa Pushes Development Banks to Step In

With a record-breaking 26.5 million people going hungry in the Horn of Africa, development banks are increasing their humanitarian funding to fill a gap left by traditional donors, a high-level …

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Hard Times for Lagos Slum Dwellers Caught in Race for Land

Sheltering under planks on his boat moored at a waterside slum in Lagos, fisherman Thomson Pascal is trying to protect his six children from the rain flooding into what is …

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World Bank Approves $500M Grant Package for Afghanistan Projects

The World Bank on Tuesday approved financing worth more than $500 million for Afghanistan to support a string of projects to boost the economy, help improve service delivery in five …

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Trump Administration Looks to Curb CFPB Powers, Change Bank Rules

The Trump administration is proposing to curb the authority of the consumer finance watchdog created following the economic crisis as it drives toward easing restrictions on banks and financial institutions. …

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Business Confidence Plummets as Political Crisis Grips Britain

Britain’s descent into political crisis just days before Brexit talks begin has sapped confidence among business leaders and infuriated bosses who were already grappling with the fallout from the vote …

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Treasury: Trump Has Plan If Debt Limit Not Raised by August

The Trump administration has a backup plan to keep the government from defaulting on its financial obligations even if Congress misses an August deadline to raise the debt limit, Treasury …

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Israel Reduces Power Supply to Gaza, as Abbas Pressures Hamas

Israel will reduce electricity supplies to the Gaza Strip after the Palestinian Authority limited how much it pays for power to the enclave run by Hamas, Israeli officials said Monday. …

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Brazil’s Crisis Stalling Economic Reforms Seen as Crucial

Work longer hours. Get fewer benefits. Retire years later. Those are the ingredients of the bitter medicine Brazilians are being asked to swallow as a cure for the country’s moribund, …

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U.S. Bank Bosses Succumb to Email Hoaxer

The bosses of Wall Street banks Goldman Sachs and Citigroup are the latest executives to fall victim to an email prankster who has also managed to connect with the head …

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ILO: Children Risk Exploitation Most in Asia, Africa

The International Labor Organization (ILO) reports children caught in conflict and natural disasters are most at risk of child labor and of falling prey to trafficking, sexual exploitation and abuse. …

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GE CEO Immelt Stepping Down, Flannery to Take Over Role

General Electric says Jeff Immelt is stepping down as CEO and John Flannery, president and CEO of the conglomerate’s health care unit, will take over the post in August.   …

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Protests by Indian Farmers Highlight Rural Distress

They were no common protests. As angry farmers dumped milk and vegetables on the streets in India’s western Maharashtra state and six farmers were killed by police in Madhya Pradesh …

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Uber Discussing Leave for CEO, Reports Say

The board of Uber was meeting Sunday to consider placing the CEO of the ride-hailing company on leave, according The New York Times and other news outlets.   The Times …

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US Commerce Chief Seen Imposing Mexico Sugar Deal Over Industry Objections

U.S. Commerce Secretary Wilbur Ross is likely to impose a new sugar trade deal with Mexico even if final revisions to it fail to win support from the U.S. industry, …

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L’Oreal Set to Sell The Body Shop to Brazil’s Natura in $1.1B Deal

French cosmetics and luxury goods group L’Oreal has started exclusive talks to sell The Body Shop business to Brazilian makeup company Natura Cosmeticos in a possible 1 billion euros ($1.1 …

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