Economy

We’re relying on a government that spurns economic advice

I’m starting to wonder if the trouble with our politicians is that they’ve evolved to do politics but not economics, making them unfit to cope with the economic threats we now face. On the one hand, they’ve been able to leave the management of the economy to the independent Reserve Bank, whose tinkering with interest rates – up a bit, ...

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Trump downplays talk of a recession after his economic advisers say growing fears are unfounded

President Donald Trump said he is “prepared for everything” but that “most economists” don’t think a recession is on the horizon as growing fears of a slowdown persist. “We are doing tremendously well,” the President told reporters on a tarmac in New Jersey before boarding Air Force One to return to Washington. “Consumers are rich, tax cut loaded up with ...

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‘I don’t see a recession’: Trump and advisers reject talk of economic disaster

Donald Trump and his chief trade advisers insisted on Sunday the US is not facing a recession which markets appear to fear and which could prove costly at the polls next year.In a 30-minute appearance before reporters in New Jersey, the president appeared impervious to danger. The characteristically freewheeling exchange covered his positions on trade, the economy, gun control and ...

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The US economy is fine, but watch out for gathering trade storms

A former colleague of mine at the OECD (a Paris-based public policy research organization financed by member country governments) smiled at me over a five-o’clock beer with a cutting remark that reports of economic analysis were “a dime a dozen.” I felt like wiping the floor with him, but gulping down my drink, I thought again how low a once ...

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The global economy just dodged another bullet. But the US-China trade truce won’t fix it

London (CNN Business)Stocks and oil prices shot higher Monday after the United States and China announced a cease fire in their trade war. Yet the fragile truce does little to alleviate pressure on a global economy wounded by earlier exchanges of fire that hit manufacturing and trade. President Donald Trump agreed at the G20 summit in Japan to hold off on new tariffs, but US ...

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China opens economy further to foreigners as trade war bites

China is opening up more sectors of its economy to foreign investment amid a bruising trade war with the United States that is beginning to be felt from Asia to Europe. Chinese Premier Li Keqiang told the World Economic Forum in Dalian that China would further liberalise its manufacturing sector, including the car industry, while reducing the negative investment list that restricts foreign investment in some areas. He said ...

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Lacking rights, Guatemalan workers struggle in informal economy

Guatemala City, Guatemala – Olivia Aju arrived at the airport before dawn, but not for a flight. For more than two decades, she has been selling crafts outside Guatemala City’s international airport. Now her means of subsistence is in jeopardy. “What we do is survival, because there are no job opportunities,” Aju told Al Jazeera. An indigenous Maya Kaqchikel and single mother of ...

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Construction industry reminded of its contribution to the economy

The Construction Industry Council was reminded of the importance of their contribution to the Fijian economy. Speaking at the CIC Conference in Suva, Governor of the Reserve Bank Ariff Ali says the industry generates employment opportunities and income from both the formal and informal sectors. Ali says the construction industry plays a pivotal role in boosting any economy but most ...

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Can greater digitisation boost Russia’s faltering economy?

Russia’s economy remains in the doldrums – in the first quarter of 2019 it grew by just half a percent year on year. And now, to address this, the government is tripling spending on digitising more areas of the economy. At the annual International Economic Forum in St Petersburg Euronews asked the CEO of IBS, one of Russia’s leading IT ...

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Economy resilient despite infrastructure reconstruction post-Winston

The reconstruction of infrastructure damaged by natural disasters since 2016 has cost the government $500m without crippling the economy. While delivering the budget announcement in Parliament on Friday, Minister for Economy Aiyaz Sayed-Khaiyum says this was possible because of a healthy economy under the Bainimarama Government. “The scale of the rebuilding effort was only possible because of the strength of ...

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