Economy

Johannesburg — After pledging $51 billion in financial support for Africa over the next three years and positioning China as a fellow developing country in contrast to the West’s colonialist past, President Xi Jinping told dozens of African…
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Washington — The U.S. Treasury and Internal Revenue Service said on Friday that they have recovered $1.3 billion in unpaid taxes from wealthy individuals under new enforcement initiatives funded by $60 billion in IRS modernization spending…
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Washington — U.S. employment increased less than expected in August, but a drop in the jobless rate to 4.2% suggested an orderly labor market slowdown continued and probably did not warrant a big interest rate cut from the Federal Reserve…
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WASHINGTON — The U.S. trade deficit widened to the highest level in more than two years in July as businesses likely front-loaded imports in anticipation of higher tariffs on goods, suggesting trade could remain a drag on economic growth in…
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Geneva — Workers have seen their slice of the global income pie shrink significantly over the past two decades, swelling inequality and depriving the combined labor force of trillions, the U.N. said Wednesday. The United Nations'…
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Abuja, Nigeria — Barely 48 hours after Nigeria's state-owned oil company made a startling revelation, hundreds of commuters joined a line stretching many kilometers for fuel at an NNPC outlet in the capital. In a statement Sunday, Nigeria’s…
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Nairobi — Kenyan officials have long pushed for milk to be pasteurized before it reaches the marketplace, but much of the milk sold is not pasteurized because small-scale vendors and producers can’t afford the expensive machines used in the…
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Berlin, Germany — EU chief Ursula von der Leyen has made her first picks for her top team, with the key economy vice-president job going to Italy's far-right nominee, German newspaper Die Welt reported Tuesday. Von der Leyen, who secured a…
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Washington — When Jerome Powell delivered a high-profile speech last month, the Federal Reserve chair came the closest he ever had to declaring that the inflation surge that gripped the nation for three painful years was now essentially…
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Algiers — Algeria has been approved for membership in the BRICS New Development Bank (NDB), the country’s finance ministry has announced. The decision was taken on Saturday and announced by NDB chief Dilma Roussef at a meeting in Cape Town,…
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