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Economy

More US Companies End Marketing Programs With National Rifle Association

By Yeco on Saturday, February 24, 2018

Three more companies say they have ended marketing programs with the National Rifle Association (NRA), as gun control advocates stepped up pressure on firms to cut ties to the gun industry following last week’s school shooting in Florida. Activists have …

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Economy

AP Fact Check: Toughest Sanctions on North Korea Ever? Not Likely

By Yeco on Saturday, February 24, 2018

The heaviest, the largest, the most impactful —  those were the superlatives the Trump administration used to describe its latest sanctions against North Korea. But were the Treasury Department designations of more than 50 companies and ships accused of illicit …

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Economy

With Rates Still Low, Fed Officials Fret Over Next US Recession

By Yeco on Friday, February 23, 2018

Federal Reserve policymakers fretted on Friday that they could face the next U.S. recession with virtually the same arsenal of policies used in the last downturn and, with interest rates still relatively low, those will not pack the same punch. In the midst of an …

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Economy

EU Leaders Draw Up Battle Lines for Post-Brexit Budget

By Yeco on Friday, February 23, 2018

European Union leaders staked out opening positions Friday for a battle over EU budgets that many conceded they are unlikely to resolve before Britain leaves next year, blowing a hole in Brussels’ finances. At a summit to launch discussion on …

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Economy

Stocks Rally as Fed Eases Rate Worry, Tech Climbs

By Yeco on Friday, February 23, 2018

U.S. stocks rallied on Friday, lifted by gains in technology stocks and a retreat in Treasury yields as the Federal Reserve eased concerns about the path of interest rate hikes this year. The U.S. central bank, looking past the recent …

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Economy

Construction Begins on Afghanistan Section of International Gas Pipeline

By Yeco on Friday, February 23, 2018

Leaders of Afghanistan, Turkmenistan, Pakistan and its arch rival India jointly inaugurated construction work Friday on the Afghan section of a long-delayed multibillion-dollar gas pipeline connecting the four nations, raising hopes for regional cooperation and peace. A ceremony took place …

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Economy

Saudis Promised Double the Fun in Drive to Lure Back Tourist Dollars

By Yeco on Thursday, February 22, 2018

Saudi Arabia will stage more than 5,000 shows, festivals and concerts in 2018, double the number of last year, as it tries to shake off its conservative image in a drive to keep tourist dollars at home and lure in …

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Economy

Troubled Latvian Bank Faces ECB Deadline to Avoid Closure

By Yeco on Thursday, February 22, 2018

The European Central Bank has set a deadline of Friday for Latvia’s third-largest bank to plug a financing hole, the country’s finance minister said, as the Baltic state faced its worst financial difficulties in almost a decade. Earlier, ABLV said …

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Economy

Work on Afghan Section of TAPI Gas Pipeline to Begin Friday

By Yeco on Thursday, February 22, 2018

Afghanistan will host leaders from Turkmenistan, Pakistan and India on Friday for the ground-breaking ceremony of the Afghan section of a much-delayed multi-billion dollar gas pipeline connecting the four nations. The $10 billion mega project, known as Turkmenistan-Pakistan-Afghanistan-India, or TAPI, …

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Economy

S. Korea’s Cryptocurrency Industry Welcomes Regulator’s Dramatic Change of Heart

By Yeco on Wednesday, February 21, 2018

South Korea’s cryptocurrency industry is anticipating much better times as the market regulator changes tack from its tough stance on the virtual coin trade, promising instead to help promote blockchain technology. The regulator said Tuesday that it hopes to see …

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Economy

S. Korea Signs Free Trade Deals With 5 Central America Countries

By Yeco on Wednesday, February 21, 2018

South Korea said on Wednesday it is signing free trade agreements with five Central American nations aimed at boosting market access for the Korean auto sector and electronics makers. Trade minister Kim Hyun-chong will meet representatives from Costa Rica, El …

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Economy

Venezuela: Launch of ‘Petro’ Cryptocurrency Raised $735 Million

By Yeco on Wednesday, February 21, 2018

President Nicolas Maduro said Tuesday that Venezuela had received $735 million in the first day of a pre-sale of the country’s “petro” cryptocurrency, aimed at pulling the country out of an economic tailspin. Maduro is hoping the petro will allow …

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Economy

Pakistani Lawmaker Denies China Talking to Separatists in Baluchistan 

By Yeco on Wednesday, February 21, 2018

There are no talks between China and the separatists from Pakistan’s Baluchistan province regarding the protection of the China-Pakistan Economic Corridor (CPEC), a senator from the province told VOA. First reported by The Financial Times, several newspapers in Pakistan said that …

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Economy

Temer’s Failure on Brazil Pension Reform Leaves Tricky Task to Successor

By Yeco on Wednesday, February 21, 2018

President Michel Temer’s decision to throw in the towel on reforming Brazil’s loss-making pension system leaves the unpopular measure as a campaign issue for October’s elections and a major headache for his successor. Monday’s announcement that Temer was abandoning an …

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Economy

Kenya’s KenGen Says to Add Extra 1,745 MW to Grid by 2025

By Yeco on Tuesday, February 20, 2018

State-run Kenya Electricity Generating Company (KenGen) plans to add 1,745 megawatts (MW) of electricity from geothermal sources by 2025, part of a government push to end power generation from fossil fuels. “You are aware that going forward, the government policy …

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Economy

How US Coal Deal Warms Ukraine’s Ties With Trump

By Yeco on Tuesday, February 20, 2018

For the first time in Ukraine’s history, U.S. anthracite is helping to keep the lights on and the heating going this winter following a deal that has also helped to warm Kyiv’s relations with President Donald Trump. The Ukrainian state-owned …

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Economy

Brazil Gov’t Acknowledges Pension Bill Going Nowhere

By Yeco on Monday, February 19, 2018

Brazil’s political affairs minister Carlos Marun said on Monday that passage of a bill to overhaul the country’s costly social security system has effectively ground to a halt in Congress and would become a campaign issue in this year’s election. …

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Economy

Latvia’s Banking Sector Rocked by US Probe, Central Bank Chief’s Detention

By Yeco on Monday, February 19, 2018

Latvia’s ABLV Bank sought emergency support Monday after U.S. officials accused it of helping breach North Korean sanctions while the country’s central bank chief faced bribery allegations, turning up the spotlight on its financial system. The Baltic country, which is …

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Economy

NZ Prime Minister: Revised Trans-Pacific Trade Pact Text to Be Released Wednesday

By Yeco on Monday, February 19, 2018

New Zealand Prime Minister Jacinda Ardern said on Tuesday the final text of a revised Trans-Pacific trade pact would be released on Wednesday when her government publishes its own assessment of the deal. “We now have confirmation that we’ll…be able …

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Economy

Anti-Corruption Police Arrest Latvian Central Bank Chief

By Yeco on Sunday, February 18, 2018

Latvian Prime Minister Maris Kucinskis assured the country and Europe “there is no sign of danger,” after anti-corruption police arrested the head of the Latvian central bank Saturday. “For now, neither I, nor any other official, has any reason to …

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Economy

US Commerce Department Urges Curbs on Steel, Aluminum Imports

By Yeco on Saturday, February 17, 2018

The Commerce Department is urging President Donald Trump to impose tariffs or quotas on aluminum and steel imports from China and other countries. Unveiling the recommendations Friday, Secretary Wilbur Ross said in the case of both industries “the imports threaten …

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Economy

Massive Fraud at Indian State-Owned Bank Linked to Celebrity Jeweler

By Yeco on Friday, February 16, 2018

The uncovering of one of the biggest frauds at a state-owned bank in India has rocked the country’s financial sector and brought scrutiny to a billionaire jeweler who counted Hollywood stars among his customers. The nearly $1.8 billion fraud reported …

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Economy

Iraq’s PM Declares Country Open for Business

By Yeco on Friday, February 16, 2018

Iraq’s prime minister was in Kuwait this week, selling his country as a promising investment opportunity. After years of war and sectarian violence, Iraq is moving toward stability and wants to attract the private sector to help fund its $88 …

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Economy

Mexico, US Express Cautious Optimism on NAFTA Deal

By Yeco on Friday, February 16, 2018

Top U.S. and Mexican officials on Thursday expressed cautious optimism that the North American Free Trade Agreement will be renegotiated, speaking ahead of the next round of trade talks later this month. Asked on local television whether it was more …

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