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Economy

Argentina Ratifies Treaty; Tariffs to Be Lifted Soon

By Yeco on Thursday, July 20, 2017

Argentina said Wednesday that it has sent the regional bloc Mercosur its ratification of the group’s 2010 trade agreement with Egypt, and the pact will go into force within a month. The trade deal, which covers food, cars, auto parts …

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Economy

Asia’s Richest Man Comes Under Pressure in China

By Yeco on Wednesday, July 19, 2017

Asia’s richest man, Wang Jianlin, suddenly finds himself cornered. The giant Dalian Wanda Group, which he heads, is facing a range of regulatory investigations and actions from the Chinese authorities.  The latest move involves asking banks to stop financing overseas …

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Economy

Daimler to Recall 3 Million Vehicles to Ease Diesel Doubts

By Yeco on Tuesday, July 18, 2017

German automaker Daimler says it is voluntarily recalling 3 million diesel cars in Europe to improve their emissions performance. The Stuttgart-based company, which makes Mercedes-Benz luxury cars, says it is taking the step to reassure drivers and strengthen confidence in …

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Economy

US-China Trade Rifts Resurface Even After Friendly Summit

By Yeco on Tuesday, July 18, 2017

Cake and conversation, it seems, can go only so far to mend longstanding economic rifts between the United States and China. Three months after President Donald Trump and his Chinese counterpart, Xi Jinping, shared chocolate cake at an amiable summit …

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Economy

Nepalis, Saddled With Banned Indian Rupee Notes, Risk Losing Savings

By Yeco on Tuesday, July 18, 2017

Nepalis stand to lose millions of dollars held in high-value Indian bank notes that India banned last year and has yet to exchange, a Nepali central bank official said on Tuesday. Indian Prime Minister Narendra Modi in November banned 500 …

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Economy

House Budget Blueprint Boosts Military, Cuts Benefits

By Yeco on Tuesday, July 18, 2017

House Republicans on Tuesday unveiled a 10-year budget blueprint that would dramatically increase military spending while putting the GOP on record favoring Medicare cuts opposed by President Donald Trump. The GOP plan, authored by Budget Chairman Diane Black, R-Tenn., would …

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Economy

Trump Touts ‘Made in America Week’

By Yeco on Tuesday, July 18, 2017

The Trump Administration has launched “Made In America Week” to highlight the importance of U.S. manufacturing and tout its policies to bring more such jobs back home from overseas. But as VOA White House Bureau Chief Steve Herman reports, many …

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Economy

Chinese Overfishing Threatens West African Economies

By Yeco on Monday, July 17, 2017

Foreign fishing vessels, many from China, prowl the waters off West Africa every day. They capture millions of fish — catches that used to go to local boats. The fish are then shipped to China, Europe and the United States, …

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Economy

US to Add 15K Temporary Worker Visas

By Yeco on Monday, July 17, 2017

The United States needs more foreign workers to keep some American businesses from floundering, according to a decision announced by U.S. officials Monday. The Department of Homeland Security (DHS) said it will make 15,000 additional H-2B visas available for companies …

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Economy

EU Agrees to Allow in More Ukraine Exports for 3 Years

By Yeco on Monday, July 17, 2017

EU foreign ministers approved on Monday measures to allow Ukraine to export more industrial and agricultural products free of tariffs to the bloc in recognition of reforms undertaken by Kyiv and the country’s fragile economy. By the end of September, …

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Economy

India’s Low-paid Garment Workers Seek $7.6M Compensation

By Yeco on Monday, July 17, 2017

On a sweltering summer morning in the southern Indian city of Chennai, a dozen garment workers crowd into a small courtroom for the latest hearing in a protracted battle over low wages in factories supplying global fashion brands. The women …

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Economy

Internet Outage in Violence-Plagued Somalia Is Extra Headache for Businesses

By Yeco on Sunday, July 16, 2017

A severed marine cable has left Somalia without internet for weeks, triggering losses for businesses, residents said, and adding a layer of chaos in a country where Islamist insurgents are carrying out a campaign of bombings and killings. Abdi Anshuur, …

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Economy

Chief Minister: Gibraltar Will Not Be A Victim of Brexit

By Yeco on Sunday, July 16, 2017

Gibraltar will not be a victim of Brexit and has had guarantees from the British government it will not do a trade deal with the European Union which doesn’t include the territory, its chief minister said on Sunday. The future …

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Economy

After 100 Days, US-China Trade Talks Have Far to Go

By Yeco on Sunday, July 16, 2017

Bilateral talks aimed at reducing the U.S. trade deficit with China have yielded some initial deals, but U.S. firms say much more needs to be done as a deadline for a 100-day action plan expires Sunday. The negotiations, which began …

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Economy

Farmers Find Healthy Soils Make for Healthy Profits

By Yeco on Sunday, July 16, 2017

Take care of your soil, and your soil will take care of you. That’s the message agriculture experts have for farmers worldwide. They say farmers can halt the degradation of their land and save money by using techniques known as …

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Economy

Uber, Lyft Bankrupting Cab Drivers and Their Lenders

By Yeco on Saturday, July 15, 2017

Ride-hailing apps such as Uber and Lyft have been so disruptive to New York City’s taxi industry, they are causing lenders to fail.   Three New York-based credit unions that specialized in loaning money against taxi cab medallions, the hard-to-get …

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Economy

White House: Budget Deficit to Spike to $702B

By Yeco on Friday, July 14, 2017

The White House said Friday that worsening tax revenues would cause the budget deficit to jump to $702 billion this year. That’s a $99 billion spike from what was predicted less than two months ago. The report from the Office …

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Economy

US Lawmaker Calls for Hearing on Amazon’s Whole Foods Deal

By Yeco on Friday, July 14, 2017

The top Democrat on the U.S. House of Representatives’ antitrust subcommittee has voiced concerns about Amazon.com Inc.’s $13.7 billion plan to buy Whole Foods Market Inc and is pushing for a hearing to look into the deal’s potential impact on …

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Economy

Germany Checking Daimler Cars Amid Diesel Emissions Probe

By Yeco on Friday, July 14, 2017

The German Transport Ministry says the country’s motor transport authority will examine cars made by Daimler amid an investigation into suspected manipulation of diesel emissions controls. Daimler said in May that prosecutors would search several offices in Germany and it …

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Economy

Radio Flyer Marks 100 Years of Wagon Production

By Yeco on Friday, July 14, 2017

Radio Flyer is rolling its largest “little” red wagon into its hometown of Chicago in celebration of the company’s 100-year anniversary. Radio Flyer’s gargantuan wagon was the centerpiece for the company’s anniversary event Thursday in the city’s downtown area, the …

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Economy

Gaza’s Electricity Shortage at Crisis Level

By Yeco on Friday, July 14, 2017

The electricity supply to Gaza’s 2 million residents has dropped to unprecedented lows, with blackouts lasting for more than 24 hours, the territory’s power distribution company said Thursday, prompting fears of a humanitarian and environmental crisis. The Palestinian enclave needs …

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Economy

Venezuela Oil Exports to Cuba Drop, Energy Shortages Worsen

By Yeco on Thursday, July 13, 2017

Venezuela’s crude and fuel deliveries to Cuba have slid almost 13 percent in the first half this year, according to documents from state-run oil company PDVSA viewed by Reuters, threatening to worsen gasoline and power shortages in the communist-run island. …

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Economy

Corruption Undermining Ukraine’s Progress, EU’s Juncker Says

By Yeco on Thursday, July 13, 2017

Corruption is undermining all efforts to rebuild Ukraine in line with European Union norms, European Commission chief Jean-Claude Juncker said on Thursday, as President Petro Poroshenko vowed to pursue ever-closer integration with the bloc. Juncker and European Council President Donald …

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Economy

UN Experts Tell Peru to Halt Oil Talks Until Pollution Remedied

By Yeco on Thursday, July 13, 2017

United Nations human rights experts on Thursday called on Peru to suspend negotiations on a new contract for a large oilfield in the Amazon until past pollution was cleaned up and the rights of indigenous groups respected. Canada’s Frontera Energy …

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