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Economy

Trump Tax Overhaul Under Intensifying Fire as Congress Readies Bill

By Yeco on Sunday, October 29, 2017

President Donald Trump’s plan for overhauling the U.S. tax system faced growing opposition from interest groups on Sunday, as Republicans prepare to unveil sweeping legislation that could eliminate some of the most popular tax breaks to help pay for lower …

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Economy

For Spanish, Catalan Economies, No Winners in Standoff

By Yeco on Sunday, October 29, 2017

Xavier Gabriel can take some credit if the tiny Catalan mountain town of Sort is one of the most famous in Spain. He runs a lottery shop called La Bruja de Oro, or The Golden Witch, in a town whose …

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Economy

On Climate Change, It’s Trump vs. Markets

By Yeco on Sunday, October 29, 2017

At the 2015 Paris summit, world leaders pledged to take steps to avoid catastrophic climate change. This November in Bonn, Germany, U.N. negotiators will be back, working out the details of how to cut emissions of planet-warming gases. It is …

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Economy

Artisans in Mali Hope to Bring Back an Ancient Fabric Style

By Yeco on Sunday, October 29, 2017

Artisans in Mali are hoping that Bogolan, a traditional cotton fabric, will continue to fascinate Western fashion designers and provide jobs at home. VOA’s Teffera Girma Teffera and Bagassi Koura visited a small neighborhood in central Bamako where artisans are …

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Economy

Weirdness, Few Tourists, Return to Key West After Irma

By Yeco on Saturday, October 28, 2017

Things are weird, as usual, in Key West. A pair of Vikings push a stroller full of stuffed chimps down Duval Street. A man with a ponytail swallows a steel sword. People dressed only in body paint and glitter wander …

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Economy

US Economy Expands at 3 Percent Rate in Third Quarter

By Yeco on Friday, October 27, 2017

The U.S. economy expanded at a three percent annual pace in July, August and September, about the same pace as the prior quarter. Friday’s Commerce Department data surprised economists, who thought damage from two hurricanes would cut growth to a …

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Economy

Who Will Be the Next Fed Chief?

By Yeco on Friday, October 27, 2017

President Trump says he is “very close” to picking a person for the most important economic post in the country: the head of the US Federal Reserve. Current Chair Janet Yellen, whose term expires early next year, is one of …

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Economy

Greater Scrutiny Set for Nonimmigrant Work Visa Renewals

By Yeco on Thursday, October 26, 2017

The United States has announced changes to its nonimmigrant work visa policies that are expected to make renewals more difficult. In the past, U.S. Citizenship and Immigration Services would generally approve the renewals unless the visa holder had committed a …

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Economy

Trump Ponders New Head for Federal Reserve

By Yeco on Thursday, October 26, 2017

President Donald Trump says he is “very close” to picking a person for the most important economic post in the United States, the head of the Federal Reserve. Current Chair Janet Yellen’s term expires early next year and she is …

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Economy

N. Korean Debt to Sweden Remains Unpaid After Four Decades

By Yeco on Thursday, October 26, 2017

More than four decades after selling 1,000 Volvos to North Korea, Sweden is still trying to get paid for the cars. The vehicles were part of a $131 million trade package delivered to North Korea in 1974, during a period …

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Economy

Summer Internships Offer Real World Experiences

By Yeco on Thursday, October 26, 2017

When kids go back to school, they usually talk about what they did during their summer vacation. The 15 and 16-year-olds who joined Summer RISE in Montgomery County, Maryland, have some unique stories about work in fire departments, non-profits, private …

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Economy

US House of Representatives Approves a $4T Fiscal 2018 Bill

By Yeco on Thursday, October 26, 2017

The U.S. House of Representatives Thursday approved a $4 trillion fiscal 2018 budget blueprint, a major step forward toward the introduction of a Republican tax cut bill. The measure narrowly passed (216-212) despite last-minute resistance from the ranks of Republicans. …

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Economy

Ivanka Trump Promotes Expansion of Child Tax Credit at Capitol

By Yeco on Wednesday, October 25, 2017

Ivanka Trump teamed up Wednesday with Republican legislators to try to ensure the tax overhaul package under construction on Capitol Hill includes an expansion of the child tax credit. The White House adviser and presidential daughter, appearing at a Capitol …

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Economy

Austerity to Hit Jordan as Debt Spikes, Economy Slows

By Yeco on Wednesday, October 25, 2017

Jordan’s high and rising public debt has worried the International Monetary Fund and prompted a downgrade from Standard & Poor’s. So the government is planning a blast of austerity by year-end. Tax hikes and subsidy cuts —- likely to be …

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Economy

China Turning Pakistan Port Into Regional Giant

By Yeco on Tuesday, October 24, 2017

An unprecedented Chinese financial and construction effort is rapidly developing Pakistan’s strategically located Arabian Sea port of Gwadar into one of the world’s largest transit and transshipment cargo facilities. The deep water port lies at the convergence of three of …

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Economy

US Workforce to Add 11.5 Million Jobs by 2026

By Yeco on Tuesday, October 24, 2017

The U.S. economy is expected add another 11.5 million jobs by 2026, as an aging population and longer life spans raise the need for health care providers. The total U.S. workforce is expected to grow to 167.6 million people. Tuesday’s …

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Economy

Sierra Leone to Auction Multi-Million Dollar Diamond to Benefit Poor

By Yeco on Monday, October 23, 2017

Sierra Leone hopes to raise millions of dollars for development projects by auctioning a huge uncut diamond, believed to be one of the world’s largest, in New York in December. It will be the government’s second attempt to sell the …

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Economy

Low Inflation Could Slow Fed, but Fiscal Stimulus Unnecessary

By Yeco on Monday, October 23, 2017

The U.S. Federal Reserve will raise interest rates in December and twice next year, according to a Reuters poll of economists, who now worry that the central bank will slow its tightening because of expectations that inflation will remain low. …

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Economy

Taiwan Steps up Asia Business to Reduce Dependence on China

By Yeco on Monday, October 23, 2017

Taiwan is offering visa waivers and setting up overseas investment offices across a swathe of countries to its south, the latest moves to deepen a rebalancing of economic relations away from political foe China. Officials in Taipei hope to foster …

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Economy

Orange Is the New White? Unique Amber Wine Creates Buzz

By Yeco on Monday, October 23, 2017

The sloping vineyards of New York’s Finger Lakes region known for producing golden-hued rieslings and chardonnays also are offering a splash of orange wine.   The color comes not from citrus fruit, but by fermenting white wine grapes with their …

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Economy

South African Bakery Slices Prices and Sees Sales Skyrocket

By Yeco on Sunday, October 22, 2017

A bakery in a low-income area of Johannesburg slashed prices of its popular bread, with unexpected results. What started as a way to help feed the community became a recipe for success as the bakery has a lot more business …

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Economy

Fed’s Powell, Economist Taylor, Yellen on Trump’s Federal Reserve List

By Yeco on Sunday, October 22, 2017

President Donald Trump is considering nominating Federal Reserve Governor Jerome Powell and Stanford University economist John Taylor for the central bank’s top two jobs, in an apparent bid to reassure markets and appease conservatives hungry for change. Under that scenario, …

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Economy

Turkey Bank Regulator Dismisses ‘Rumors’ After Iran Sanctions Report

By Yeco on Sunday, October 22, 2017

Turkey’s banking regulator urged the public on Saturday to ignore rumors about financial institutions, in an apparent dismissal of a report that some Turkish banks face billions of dollars of U.S. fines over alleged violations of Iran sanctions. “It has …

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Economy

Era Ends: Hong Kong Stock Trading Floor to Close

By Yeco on Saturday, October 21, 2017

Hong Kong’s last remaining stock market floor traders are taking their final orders as the exchange prepares to shut its trading hall. The bourse’s operator, Hong Kong Exchanges & Clearing, says it will close the trading hall by the end …

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