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Economy

US Official Urges American Small Businesses to Export Abroad

By Yeco on Friday, May 12, 2017

The head of the U.S. Small Business Administration urged American businessmen and entrepreneurs to enter the global market, telling the United Nations on Thursday that just 1 percent of small businesses are currently exporting overseas. Linda McMahon said the nearly …

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Economy

Kushner Companies: No Investor Meetings in China This Weekend

By Yeco on Friday, May 12, 2017

The sister of White House adviser Jared Kushner won’t be attending an investor conference in China this weekend as reported after she was criticized for trying to raise money there last weekend, using the lure of a U.S. visa program. …

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Economy

Iraq, Algeria Support Extension of Oil Production Cuts

By Yeco on Thursday, May 11, 2017

Iraq and Algeria support the extension of oil production cuts by OPEC and non-OPEC producers through the end of the year to try to boost prices, they said in a joint statement Thursday. The oil ministers of the two countries …

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Economy

Uber Chases GrabTaxi in Myanmar, Expanding in Southeast Asia

By Yeco on Thursday, May 11, 2017

Uber is launching its private ride-hailing service in the Myanmar commercial capital of Yangon on Thursday, aiming to tap into one of the world’s youngest and fastest-growing online markets. The launch follows Singapore-based GrabTaxi’s debut by about two months. Uber …

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Economy

Study: US Foreclosure Activity Drops to Lowest Level Since 2005 

By Yeco on Thursday, May 11, 2017

Housing foreclosure activity in the United States dropped to the lowest level since 2005 last month, according to a business research group. ATTOM Data Solutions tracks default notices, auctions and bank repossessions across the nation and says the number of …

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Economy

China: Silk Road Plan Not Tied to Xi Presidency

By Yeco on Thursday, May 11, 2017

China’s President Xi Jinping initiated the ambitious Belt and Road development plan but it has become a world plan not tied to his presidency, the Commerce Ministry said Wednesday, days before Xi hosts a global forum on the initiative. The …

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Economy

New Study Warns of Wage Theft in US

By Yeco on Wednesday, May 10, 2017

Analysts at a liberal research institution in Washington say U.S. employers are stealing $15 billion a year from workers by failing to pay legally required minimum wages. The Economic Policy Institute says the wage theft hits nearly one-fifth of low …

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Economy

Yemen Minister: 60 Percent of Population in Dire Poverty

By Yeco on Wednesday, May 10, 2017

Yemen’s planning minister says 60 percent of the country’s population is in dire poverty more than two years since the Shi’ite rebels forced the country’s internationally recognized government and president out of the capital.   Mohamed El-Saadi says 22 million …

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Economy

For One Chinese City, New ‘Silk Road’ Leaves Old Problems Unsolved

By Yeco on Wednesday, May 10, 2017

In August, 2014, planners in the northeastern Chinese city of Hunchun argued in state media that it should be included in the “One Belt, One Road” project, Beijing’s vision laid out the previous year of a new Silk Road across …

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Economy

Mexico Targets Suppliers, Buyers in Move Against Fuel Theft

By Yeco on Wednesday, May 10, 2017

Mexico is embarking on a strategy to combat illegal pipeline thefts that includes going after those who purchase and deal in stolen fuel as well as the thieves, the country’s treasury secretary said Tuesday.   Jose Antonio Meade said it’s …

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Economy

States Sue Over Trump Decision to Restart Coal Lease Program

By Yeco on Wednesday, May 10, 2017

Four U.S. states filed a lawsuit Tuesday over President Donald Trump’s decision to restart the sale of coal leases on federal lands, saying the Obama-era block of the leasing program was reversed without studying what’s best for the environment and …

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Economy

US Commerce’s Ross: 3 Percent GDP Growth Not Achievable This Year

By Yeco on Tuesday, May 9, 2017

The U.S. economy won’t achieve the Trump administration’s 3 percent growth goal this year and not until all of its tax, regulatory, trade and energy policies are fully in place, Commerce Secretary Wilbur Ross said on Tuesday. Ross also said …

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Economy

In Drought-hit Kenya, Selling Water Keeps City’s Young People in Business and Off Drugs

By Yeco on Tuesday, May 9, 2017

Now onto his third job since finishing high school a decade ago, Festus Chege is hoping his latest venture as a water vendor in Githurai, a growing suburb to the south of Kenya’s capital Nairobi, will pay off. Like many …

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Economy

US Treasury Upgrades Website to Better Track Federal Spending Data

By Yeco on Tuesday, May 9, 2017

The U.S. Treasury on Tuesday launched an upgrade of a website to allow for the first time the tracking of all federal government spending categories, which totaled $3.85 trillion last year. The new Beta.USAspending.gov website culminates a three-year initiative to …

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Economy

India’s IndiGo to Fly to Smaller Cities in Strategy Shift

By Yeco on Tuesday, May 9, 2017

Indian airline IndiGo said it plans to start flying smaller planes to second-tier towns and cities later this year, in a shift in strategy for the carrier that has prided itself on the simplicity of running only one type of …

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Economy

Gibraltar Plans for Hard Brexit, End of Access to EU Market

By Yeco on Tuesday, May 9, 2017

Gibraltar is preparing for a post-Brexit setup in which its firms will have no longer access to the European Union market but will maintain a preferential relationship with Britain, a top Gibraltar financial official said on Tuesday. The tiny British …

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Economy

Cambodian Business Hopes to Change Attitudes With World Economic Forum

By Yeco on Tuesday, May 9, 2017

Cambodia’s rapidly normalizing economy will receive an additional boost when it hosts the regional World Economic Forum (WEF) for the first time this week with business leaders looking for opportunities to diversify the country’s fledgling industries. American lawyer and chairman …

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Economy

IMF Warns Asia to Act Early on Rapidly-aging Population

By Yeco on Tuesday, May 9, 2017

The International Monetary Fund called on Asian economies to learn from Japan’s experience and act early to cope with rapidly aging populations, warning that parts of the region risk “getting old before becoming rich.” Asia has enjoyed substantial demographic dividends …

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Economy

Top Mexican Trade Official to Hold Sugar Talks Next Week in US

By Yeco on Tuesday, May 9, 2017

Mexican Economy Minister Ildefonso Guajardo will travel to Washington next week for talks about sugar exports, he told reporters on Monday, in an attempt to break an impasse that threatens to trigger tit-for-tat duties on sweeteners. U.S.-Mexican trade relations are …

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Economy

Tunisian Job Protests Hit Oil and Gas Output

By Yeco on Tuesday, May 9, 2017

Protests over jobs and development in southern and central Tunisia have halted production at or shut the fields of two foreign energy companies in a new challenge to the country’s Prime Minister Youssef Chahed. For Tunisia, a small oil and …

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Economy

Canada Political Pressures Force PM’s Hand on US Trade Disputes

By Yeco on Monday, May 8, 2017

Canada escalated a trade dispute with United States by making threats Washington called inappropriate in part because Prime Minister Justin Trudeau is under pressure to secure support in a key region ahead of the country’s 2019 elections. Washington last month …

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Economy

Buffett Talks Wells Fargo, IBM and His Successor at Annual Meeting

By Yeco on Sunday, May 7, 2017

Warren Buffett, the chairman of Berkshire Hathaway Inc., Saturday faulted Wells Fargo & Co for failing to stop employees from signing up customers for bogus accounts even after learning it was happening. Wells Fargo, whose largest shareholder is Berkshire, with …

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Economy

Buffett: GOP Health Care Bill a Tax Cut for the Rich

By Yeco on Sunday, May 7, 2017

Berkshire Hathaway Inc Chairman Warren Buffett fumed Saturday that health care costs are eating away at the U.S. economy like “tapeworm” and said the Republican approach to overhaul Obamacare is a tax cut for the rich. The U.S. House of …

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Economy

Nicaragua Downplays Potential Impact of US Bill on Lending

By Yeco on Friday, May 5, 2017

President Daniel Ortega downplayed the possible impact of a U.S. bill that would condition international lending to Nicaragua on a range of democracy and rights issues, saying it’s more of a political than an economic threat to his country.   …

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