FRANKFURT — Unemployment in the euro zone continued its steady rise in May, according to data published Monday, underscoring the human effects of a financial downturn that has lasted a year and a half. The jobless rate in the 17 countries that belong to the euro zone was 12.1 percent […]
(Reuters) – As it considers scaling back asset purchases, the Federal Reserve must consider the overall economic improvements since it launched the stimulus and not give undue weight to the most recent economic data, a top Fed official said on Friday. Highlighting the upcoming September policy meeting as a possible […]
Courtesy: NY Times U.S. to Suspend Trade Privileges With Bangladesh By STEVEN GREENHOUSE The Obama administration on Thursday will suspend trade privileges for Bangladesh over concerns about safety problems and labor rights violations in that country’s garment industry, according to administration and Congressional officials. The administration has come under intense […]
Reuters VOICE OF AMERICA June 19, 2013 LONDON — Western government sanctions against Iran suffered a big setback on Wednesday when Britain’s top court ruled that the government was wrong to have imposed sanctions on the biggest Iranian private bank over alleged links to Tehran’s nuclear program. The Bank Mellat […]
by Matthew Allen in Zurich, swissinfo.ch June 26, 2013 – 11:38 Marc Rich, the billionaire oil trader who set up Swiss commodities giant Glencore Xstrata, has died at the age […]
BEIJING — China’s credit crunch eased Friday after lending picked up among banks and financial institutions that had been desperately seeking cash in the bank-to-bank market. The central government made no official announcement on the situation, and it was unclear whether policy makers had intervened, but short-term interest rates fell […]
(Reuters) – Home resales hit a 3-1/2-year high in May and factory activity in the Mid-Atlantic region rebounded this month, backing the Federal Reserve’s view that risks to the economy have diminished. While other data on Thursday showed more Americans than expected filed new claims for unemployment benefits last week, […]
by Omar Obeidat | Jun 18, 2013 JORDAN TIMES AMMAN –– Abu Dhabi-based developers of the $10 billion Marsa Zayed project in Aqaba on Monday expressed anger over “baseless” accusations […]
NEW YORK (CNNMoney) Until now, much of the debate swirling around Obamacare has focused on the cost of premiums in the state-based health insurance exchanges. But what will enrollees actually get for that monthly charge? States are starting to roll out details about the exchanges, providing a look at just […]
(Reuters) – Standard & Poor’s on Monday removed the near-term threat of another credit rating downgrade for the United States by revising its outlook to stable from negative, citing an improved economic and fiscal outlook. The change effectively means there is less than a one-third chance of a downgrade in […]
JEDDAH: P.K. ABDUL GHAFOUR ARABNEWS Tuesday 11 June 2013 A state-of-the-art pilgrim city will be established in Madinah on an area of 1.6 million square meters along Hijrah Road with […]
Sunday, June 09, 2013 – Dubai—The initiative to transform Dubai into the world’s capital of the Islamic economy is progressing steadily with confidence towards the goals as scheduled, said Mohammed Abdullah Al Gergawi, Chairman of the Executive Office of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime […]
NEW YORK (CNNMoney) There’s been a lot of concern about the effects of the spending cuts under the so-called sequester this year. But it’s likely that federal spending will soon go down even further in many ways. That’s because, barring action by lawmakers, the cap on total defense and domestic […]
The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin. That’s according to Donald Trump, who painted a very ugly picture of where this country is headed. Trump made the comments during a recent appearance on Fox News’ “On the Record with […]
(Reuters) – A U.S. Army sergeant charged with killing 16 Afghan civilians in cold blood was due in court on Wednesday for a court-martial proceeding in which he is expected to plead guilty under a deal with military prosecutors to avoid the death penalty. Staff Sergeant Robert Bales, a decorated […]
(Reuters) – Trade deficit widened in April as a rise in imports offset a rebound in exports, suggesting that trade remained a drag on economic growth as the second quarter started. The Commerce Department said on Tuesday the trade gap increased 8.5 percent to $40.3 billion. March’s shortfall on the […]
Nancy Folbre is an economics professor at the University of Massachusetts, Amherst Current and prospective college students are receiving real-world instruction in the dismal political economy of public finance. Unless Congress can overcome its partisan differences, interest rates on federally guaranteed Stafford loans, an important means of paying for college, […]
FORTUNE — A disastrous share offering in Madrid earlier this week portends continued economic trouble for Spain and, quite possibly, for the European Union. Shares of Bankia, the nationalized Spanish lender, fell by as much as 21% Tuesday as the bank issued 11.5 billion new shares in a bid to […]
BERLIN — The global economy is slowly regaining its strength, driven largely by the rebound of the United States and Japan, but record-high unemployment in Europe continues to drag on efforts to recover in that region, the Organization for Economic Cooperation and Development said Wednesday. The organization, based in Paris, […]
May 28, 2013 – swissinfo.ch WASHINGTON/CANBERRA (Reuters) – Designs for more than two dozen major U.S. weapons systems have been compromised by Chinese hackers, a U.S. report said on Monday, […]