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

Dubai Plans $1.7 Billion Tourist Project on New Artificial Islands

Dubai plans to develop a 6.3 billion dirham ($1.7 billion) tourist resort on two man-made islands it will build on either side of the Burj Al Arab, its luxury sail-shaped …

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Gingerly, Deals Start Taking Shape Between Rivals China and Vietnam

Historic rivals China and Vietnam are working on substantive agreements that could cover trade, investment and maritime resource sharing despite a bitter sovereignty dispute that had snarled relations less than …

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Mnuchin Says G-7 Nations More Comfortable With New US Economic Approach

U.S. Treasury Secretary Steven Mnuchin said Saturday after meeting with officials from the world’s other industrialized democracies that he thought they were more at ease with Donald Trump’s economic policies. …

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Companies Affected by Global Cyber Attack

A global cyber attack on Friday affected British hospitals, government agencies and companies in 99 countries, with Russia, Ukraine and Taiwan the top targets, security software maker Avast said. Hacking …

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By the Numbers: China’s Chase of ‘Golden Visa’ Abroad

From the United States and Canada to small islands in Europe and the Caribbean, Chinese are spending billions on new passports and visas to move their families away from their …

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US to Attend China’s Belt and Road Forum

In a move that is likely to give a boost to China’s Belt and Road Forum, the United States has announced that it will participate in meetings on the initiative …

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Six Months After India Currency Ban, Poor Still Feel Effects

Like thousands of other small-business entrepreneurs in India, Charanjit Yadav saw his sales of generator sets and batteries plummet in the weeks after the government’s surprising move to scrap 86 …

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Apple to Give $200 Million to Corning for Kentucky Plant

Apple says it will give $200 million to Corning Inc. so it can invest in a Kentucky plant that makes glass screens for iPhones and iPads. The California-based company says …

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Reports Show Rise in US Inflation, Retail Sales

U.S. consumers bought more cars and hardware, and stepped up online purchases in April, after two months of sluggish sales. Friday’s report from the Commerce Department says retail sales rose …

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China to Get American Beef and Gas Under Trade Agreement

A sweeping trade agreement, ranging from banking to beef, has been reached between Washington and Beijing, the U.S. Commerce Department announced on Thursday. “It was pretty much a Herculean accomplishment …

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Cash and Chemicals: For Laos, Chinese Banana Boom a Blessing and Curse

Kongkaew Vonusak smiles when he recalls the arrival of Chinese investors in his tranquil village in northern Laos in 2014. With them came easy money, he said. The Chinese offered …

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Americans Rush to Trademark Catchy Phrases

Ideas were flying at a brainstorming session to create a slogan for a group of North Carolina Democrats when Catherine Cloud blurted out a phrase that made a colleague’s eyes …

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US Official Urges American Small Businesses to Export Abroad

The head of the U.S. Small Business Administration urged American businessmen and entrepreneurs to enter the global market, telling the United Nations on Thursday that just 1 percent of small …

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Kushner Companies: No Investor Meetings in China This Weekend

The sister of White House adviser Jared Kushner won’t be attending an investor conference in China this weekend as reported after she was criticized for trying to raise money there …

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Iraq, Algeria Support Extension of Oil Production Cuts

Iraq and Algeria support the extension of oil production cuts by OPEC and non-OPEC producers through the end of the year to try to boost prices, they said in a …

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Uber Chases GrabTaxi in Myanmar, Expanding in Southeast Asia

Uber is launching its private ride-hailing service in the Myanmar commercial capital of Yangon on Thursday, aiming to tap into one of the world’s youngest and fastest-growing online markets. The …

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Study: US Foreclosure Activity Drops to Lowest Level Since 2005 

Housing foreclosure activity in the United States dropped to the lowest level since 2005 last month, according to a business research group. ATTOM Data Solutions tracks default notices, auctions and …

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China: Silk Road Plan Not Tied to Xi Presidency

China’s President Xi Jinping initiated the ambitious Belt and Road development plan but it has become a world plan not tied to his presidency, the Commerce Ministry said Wednesday, days …

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New Study Warns of Wage Theft in US

Analysts at a liberal research institution in Washington say U.S. employers are stealing $15 billion a year from workers by failing to pay legally required minimum wages. The Economic Policy …

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Yemen Minister: 60 Percent of Population in Dire Poverty

Yemen’s planning minister says 60 percent of the country’s population is in dire poverty more than two years since the Shi’ite rebels forced the country’s internationally recognized government and president …

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For One Chinese City, New ‘Silk Road’ Leaves Old Problems Unsolved

In August, 2014, planners in the northeastern Chinese city of Hunchun argued in state media that it should be included in the “One Belt, One Road” project, Beijing’s vision laid …

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Mexico Targets Suppliers, Buyers in Move Against Fuel Theft

Mexico is embarking on a strategy to combat illegal pipeline thefts that includes going after those who purchase and deal in stolen fuel as well as the thieves, the country’s …

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