Classifieds
EU should limit curbs on outbound investment, semiconductor group says
AMSTERDAM — Semiconductor industry group SEMI Europe called on the European Union on Monday to place as few restrictions as possible on outbound investment in foreign computer chip technology by companies based in the bloc. Proposals to screen outbound investment — European …
Wall Street week ahead – Flaring economic worries threaten US stocks rally
New York — Economic fears are roiling Wall Street, as worries grow that the Federal Reserve may have left interest rates elevated for too long, allowing them to hurt U.S. growth. Alarming economic data in recent days have deepened those concerns. …
Markets tumble, led by 5.8% drop in Tokyo following a tech-driven retreat on Wall Street
BANGKOK — Shares in Europe and Asia tumbled Friday, with Japan’s Nikkei 225 index slumping 5.8% as investors panicked over signs of weakness in the U.S. economy. Bracing for a highly anticipated employment report coming on Friday, the future for the …
China’s top leaders vow to support consumers and improve confidence in its slowing economy
BANGKOK — China’s powerful Politburo has endorsed the ruling Communist Party’s long-term strategy for growing the economy by encouraging more consumer spending and weeding out unproductive companies to promote “survival of the fittest.” A statement issued after the meeting of the …
Kenyan president bows to pressure, makes major concessions
Nairobi, Kenya — Kenyan President William Ruto on Friday ordered significant cuts in the federal budget along with other government reforms to pay off a crushing debt burden in a move seen as a concession to popular disapproval of a tax …
Sri Lanka to save $5bn from bilateral debt deal
Colombo, Sri Lanka — Sri Lanka will save $5 billion following the restructure of its bilateral debt, much of which is owed to China, through slashed interest rates and longer repayment schedules, the president said Tuesday. The island nation defaulted on …
US manufacturing contraction deepens in June
Washington — U.S. manufacturing activity edged lower in June, deepening a recent slump on continued weak demand, according to industry survey data published Monday. The Institute for Supply Management’s (ISM) manufacturing index came in at 48.5% last month, down 0.2 percentage …
Economic turmoil in Bolivia fuels distrust in government and its claim of a ‘failed coup’
LA PAZ — Signs reading “I’m buying dollars” line the doors of Víctor Vargas’ shoe shop in the heart of Bolivia’s biggest city, a desperate attempt to keep his family business alive. Just a few years ago, the 45-year-old Vargas would …
Afghan farmers grow poppies despite Taliban’s ban
Washington — Opium poppy cultivation in Afghanistan was down sharply last year, according to the United Nations and private sources, but the plants are being grown in most provinces despite a ban imposed by the Taliban. Some areas grow more than …
A source of nutrients and anxiety: Egypt cuts back on longtime bread subsidies
After more than three decades, Egypt has increased the fixed price of subsidized bread from 0.05 Egyptian pounds ($0.0010) a loaf to 0.20 Egyptian pounds ($0.0042). With record levels of inflation already straining the Egyptian people — the majority of whom rely upon the discounted dietary …
Zimbabwe fights higher drug abuse cases, especially among youth
HARARE, ZIMBABWE — Officials in Zimbabwe, which is facing a growing problem of substance abuse — especially among unemployed youth, say arrests have surged in 2024, with close to 2,400 people taken into custody so far. Officials say economic difficulties are …
China wants EU to remove tariffs on EVs by July 4 as talks resume
BEIJING — Beijing wants the EU to scrap its preliminary tariffs on Chinese electric vehicles by July 4, China’s state-controlled Global Times reported, after both sides agreed to hold new trade talks. Provisional European Union duties of up to 38.1% on …
Why Vietnam drought may spike global espresso prices
Gia Lai Province — Vietnam’s coffee growers have been hit hard by the worst drought in nearly a decade this year, and that could mean a morning espresso is about to get more costly. The country is the world’s second …
Study: Luxury sales flatten amid creativity crisis, price hikes
MILAN — The post-pandemic surge in global sales of luxury handbags, shoes and apparel is set to stall this year amid a creativity crisis and price hikes as brands shift focus to the biggest spending customers, a new study by the …
2 dead in Kenya youth protests
Nairobi, Kenya — A 21-year-old man died after being hit by a tear gas canister during protests in Kenya this week, a human rights official and the victim’s relative said Saturday, in the second fatality in connection with the youth-led demonstrations. …
Kazakhstan needs to overhaul labor, poverty statistics, experts say
ALMATY, KAZAKHSTAN — Economic analysts in Kazakhstan say the government is using a formulation for setting the poverty line that fails to capture the number of people living below a humane standard of living. The result, they say, lowers the amount …