China’s Economic Growth Steady Amid Tariff Fight With US

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China’s economic growth held steady in the latest quarter despite a tariff war with Washington, in a reassuring sign that Beijing’s efforts to reverse a slowdown might be gaining traction. The world’s second-largest economy expanded by 6.4% over a year earlier in the three months ending in March, the government reported Wednesday. That matched the previous quarter for the weakest growth since 2009. “This confirms that China’s economic growth is bottoming out and this momentum is likely to continue,” said Tai Hui of JP Morgan Asset Management in a report. Government intervention Communist leaders stepped up government spending last year and told banks to lend more after economic activity weakened, raising the risk of politically dangerous job losses. Beijing’s decision to ease credit controls aimed at reining in rising debt…
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Argentine Presidential Hopeful Massa Says Would Revamp IMF Deal

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Argentine presidential hopeful Sergio Massa would renegotiate the country's unpopular financing deal with the International Monetary Fund if he wins office later this year, the former congressman told reporters on Tuesday. The $56 billion IMF standby financing agreement includes fiscal cuts that have enraged wide segments of the public, denting the popularity of President Mauricio Macri. "We need to find a longer-term mechanism to ensure that Argentina meets its debt obligations, " the 46-year-old Massa said in a briefing with international correspondents. Macri was forced to negotiate the IMF deal last year amid a sell-off in the peso that raised questions about Argentina's ability to pay dollar-denominated bond obligations. Many Argentines blame the IMF for policies that set the stage for the country's 2002 sovereign debt default and economic meltdown.…
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Microsoft Rejected Some Sales of Facial-Recognition Software

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Microsoft recently rejected a California law enforcement agency’s request to install facial recognition technology in officers’ cars and body cameras because of human rights concerns, company President Brad Smith said Tuesday. Microsoft concluded it would lead to innocent women and minorities being disproportionately held for questioning because the artificial intelligence has been trained on mostly white, male pictures. AI has more cases of mistaken identity with women and minorities, multiple research projects have found. “Anytime they pulled anyone over, they wanted to run a face scan” against a database of suspects, Smith said without naming the agency. After thinking through the uneven impact, “we said this technology is not your answer.” Prison contract accepted Speaking at a Stanford University conference on “human-centered artificial intelligence,” Smith said Microsoft had also declined…
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Kudlow: White House Talking to Other Possible Fed Candidates

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The White House is considering other possible candidates for the board of the Federal Reserve although President Donald Trump still backs his two potential nominees, Herman Cain and Stephen Moore, White House economic adviser Larry Kudlow said on Tuesday. Kudlow, speaking to reporters at the White House, added that Trump's picks are still going through the nominating process for the seats on the U.S. central bank's board of governors. "We are talking to a number of candidates. We always do," he said when asked if the White House was vetting alternates for Cain and Moore, whose controversial potential nominations have raised concerns among economists as well as some of Trump's fellow Republicans. The U.S. Senate must confirm any nominees, and Republicans control the chamber with 53 seats. But four of…
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Fearing Austerity, Lebanese Protest Ahead of Budget

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The Lebanese government has yet to disclose its budget for 2019, but protesters are already in the streets fearing the "difficult and painful" reforms it is expected to announce as it tries to get spending in control and rein in public debt. Retired army officers blocked several highways with burning tires Tuesday, a preemptive warning to the government against any cuts to their pensions that might be part of its effort to reduce one of the world's heaviest public debt burdens. Though small, the protests offered a glimpse of the political minefield facing the government. The budget is seen as a critical test of its will to enact long-stalled reforms that economists say are more pressing than ever for an economy that has suffered years of low growth. State finances…
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Development Bank Earmarks $4.4 Billion for Central Africa

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The African Development Bank (AfDB) promised Tuesday to invest $4.4 billion (3.89 billion euros) in infrastructure in over the next seven years. The sum will help to finance 30 projects, ranging from electricity networks and transport to information technology and communication and improve cross-border trade, it said in a statement. Spending will be focused on Cameroon, Chad, Republic of Congo, Democratic Republic of Congo, Gabon, Equatorial Guinea, and the Central African Republic. Growth in central Africa doubled in 2018, with GDP expanding by 2.2% against 1.1% a year earlier, according to AfDB figures. The rate is still far behind the average for sub-Saharan Africa, which was 3.5 percent.   ...
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Electric Car Makers Woo Chinese Buyers with Range, Features

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Automakers are showcasing electric SUVs and sedans with more driving range and luxury features at the Shanghai auto show, trying to appeal to Chinese buyers in their biggest market as Beijing slashes subsidies that have propelled demand.  Communist leaders wanting China to lead in electric vehicles have imposed sales targets. That requires brands to pour money into creating models to compete with gasoline-powered vehicles on price, looks and performance at a time when they are struggling with a Chinese sales slump.  General Motors, Volkswagen, China's Geely and other brands on Tuesday displayed dozens of models, from luxury SUVs to compacts priced under $10,000, at Auto Shanghai 2019. The show, the global industry's biggest marketing event of the year, opens to the public Saturday following a preview for reporters. On Monday,…
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Mexican President Says to Return ‘Stolen’ Wealth to the People

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Mexican President Andres Manuel Lopez Obrador said on Monday he will create a "Robin Hood" institute to return to the people the ill-gotten wealth seized from corrupt politicians and gangsters. His administration is drawing up a bill to create an independent "Robin Hood" institute "against the corrupt" that would put confiscated goods such as real estate, jewelry and cars into the public's hands, the president told reporters. "Let's quickly return everything to the people that's been stolen," he said at his regular morning news conference. For example, the institute could assign seized homes to municipalities for schools, hospitals or elderly care centers, he said. Assets seized by the government tend to have been ransacked or require expensive upkeep, he noted. He did not estimate the value of the assets, or…
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Tiger Woods’ Victory in Masters a Win for Golf Business

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Tiger Woods' victory at the Masters golf tournament on Sunday, his first major victory since 2008, is expected to lift sales for sponsors, broadcasters and golf courses lucky enough to host a tournament with Woods playing. The competition put the 43-year-old back on top of a sport he helped transform 25 years ago. "Tiger sells golf," says Eric Smallwood, president of Apex Marketing Group, a Michigan analytics firm. Apex found that Nike earned $22.5 million worth of brand exposure just from Woods' final round, with Nike's "Swoosh" logo splashed on his hat, shirt, pants and shoes. Nike stock was up about one percent on Monday. Tournament broadcaster CBS Corp saw a ratings bump. Based on preliminary data, the final round of Sunday's tournament was the highest-rated morning golf broadcast since…
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Sending Data Via Light

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Most wireless communications use RF or radio frequency communications to send data back and forth. But all that information can slow things down. One National Science Foundation supported researcher is using light to send information, and, as we hear from VOA's Kevin Enochs, it’s quicker and more secure than RF. ...
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Turkey: Buying Russian Defense System Should Not Trigger US Sanctions

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Turkey's purchase of a Russian air defense missile system should not trigger U.S. sanctions because Ankara is not an adversary of Washington and remains committed to the NATO alliance, Defense Minister Hulusi Akar said Monday. Speaking at a U.S.-Turkey conference in Washington amid rising tensions between the two NATO allies over Ankara's plan to buy the Russian S-400 missile system, Akar adopted a relatively conciliatory tone and urged to resolve issues via dialogue. "Turkey is clearly not an adversary of the United States," Akar said and added that, therefore, its procurement of the S-400 system should not be considered within the scope of U.S. sanctions designed to target America's enemies. U.S. Secretary of State Mike Pompeo said last week that Washington had told Ankara it could face retribution for buying…
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Georgia O’Keeffe Museum Tackles Visitors’ Color Blindness

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The vibrant colors and hues that make up Georgia O'Keeffe's paintings soon will be on full display for color blind visitors The vibrant colors and hues in Georgia O'Keeffe's paintings soon will be on full display for color blind visitors. The Santa Fe museum announced Monday it's teaming up with California-based EnChroma to expand the gallery experience through special glasses. Starting May 3, visitors with red-green color blindness can borrow glasses to see O'Keeffe's work in the way that she intended.  One of the museum's curators, Katrina Stacy, says O'Keeffe in her later years developed visual impairment from macular degeneration and turned her attention to sculpture.  Stacy says the project with EnChroma has ties to that part of the artist's story. EnChroma co-founder Andrew Schmeder says O'Keeffe juxtaposed colors from…
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Israeli Nonprofit Vows New Moon Mission After 1st Crashes

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The Israeli start-up behind last week's failed lunar landing has vowed to create a second mission to steer a privately funded spacecraft onto the moon. Morris Kahn, Israeli billionaire and chairman of SpaceIL, the nonprofit that undertook the botched lunar mission, says he's already formed a task force of engineers and donors that will build another spacecraft. He called the new mission a lesson in persistence for "the younger generation."   SpaceIL confirmed Monday that the crew will convene in the coming weeks to figure out how to fix the technical glitches that caused the first mission to crash, while still keeping the venture relatively fast and cheap.   The crash ended an ambitious eight-year effort to make Israel the fourth nation to land on the moon.     ...
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Ivanka Trump In Africa For Women’s Economic Summit

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Ivanka Trump arrived in Addis Ababa, the capital of Ethiopia, Sunday for a summit on African women's economic inclusion and empowerment. In addition to attending the summit, the daughter of the U.S. president, who is also an advisor to her father, will meet with female workers in the coffee industry, and tour a female-run textile facility. President Donald Trump signed a National Security Presidential Memorandum in February, establishing the Women's Global Development and Prosperity (W-GDP) Initiative. W-GDP says it hopes to "reach 50 million women by 2025, through the work of the the United States Government and its partners." It was not immediately clear if the controversy that surrounds the U.S. president will follow his daughter to Africa. The president has not been kind in his remarks about Africa and…
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Tech Program Turns Low Income S. Africa Girls Into High Achievers

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Women are woefully underrepresented in technology, science, engineering and mathematics jobs in South Africa. But for the last decade, a homegrown, UNICEF-supported program has worked to bring 11,000 lower-income high school girls into these industries. Among those students was Raquel Sorota. Sorota has come a long way from her humble upbringing in Johannesburg’s Tembisa township. She now works as a risk engineer at a top South African insurance company. She was those one of those South African high school girls who went through the UNICEF-supported TechnoGirls program, which started in 2005. She was selected for the program in 2009. Now 24, she says it changed her life. “My life has literally never been the same again,” she said. “So, before the program, I wanted to be a doctor and today…
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Who Runs the World? TechnoGirls

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Women are woefully underrepresented in technology, science, engineering and mathematics jobs in South Africa. But for the last decade, a homegrown, UNICEF-supported program has worked to bring 11,000 lower-income high school girls into these industries. VOA's Anita Powell catches up with a few such "TechnoGirls" in Johannesburg and brings us their stories. ...
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World’s Largest Plane Makes First Flight Over California

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The world’s largest aircraft took off over the Mojave Desert in California Saturday, the first flight for the carbon-composite plane built by Stratolaunch Systems Corp., started by late Microsoft co-founder Paul Allen, as the company enters the lucrative private space market. The white airplane called Roc, which has a wingspan the length of an American football field and is powered by six engines on a twin fuselage, took to the air shortly before 7 a.m. Pacific time (1400 GMT) and stayed aloft for more than two hours before landing safely back at the Mojave Air and Space Port as a crowd of hundreds of people cheered. First flight 'fantastic' “What a fantastic first flight,” Stratolaunch Chief Executive Officer Jean Floyd said in a statement posted to the company’s website. “Today’s…
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Trump Vows to Win 5G Race

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In the race to beat China in the fifth generation of wireless technology, known as 5G, U.S. President Donald Trump is announcing the largest-ever auction of radio frequencies and a $20 billion fund to build a rural fiber-optics backbone. "We cannot allow any other country to outcompete the United States in this powerful industry of the future," Trump said in the White House Roosevelt Room, flanked by a group of telecommunications tower climbers and farmers. "The race to 5G is a race that we must win." Starting Dec. 10, the Federal Communications Commission (FCC) will begin auctioning three chunks of millimeter-wave frequencies (upper 37 GHz, 39 GHz and 47 GHz) for cellphone companies to use. Some Trump allies had tried to persuade him to effectively nationalize this technology as a…
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Why Cryptocurrency Is Gaining in Philippines Despite 2018 Bitcoin Crash

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Cryptocurrency exchanges are growing in the Philippines, despite a downturn last year in the value of the virtual currencies, due to growing popular demand and lenience among regulators. Authorities in the developing Southeast Asian country have permitted at least 29 exchanges of cryptocurrency following three that the central bank said it approved this week, according to domestic media reports.  That count, which is high for Asia, follows a total of 10 exchanges permitted by the central bank. The Cagayan Economic Zone Authority in the archipelago's far north has issued 19 additional permits, the zone's website said in October.  These exchanges feed into the development of a fast-growing financial technology, or fintech, sector in the Philippines, said Jonathan Ravelas, chief market strategist with Banco de Oro UniBank in Metro Manila. "Fintech…
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Facebook Spends $22.6 Million on Security for Zuckerberg

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Facebook Inc. more than doubled the money it spent on Chief Executive Officer Mark Zuckerberg’s security in 2018 to $22.6 million, a regulatory filing showed Friday. Zuckerberg has drawn a base salary of $1 for the past three years, and his “other” compensation was listed at $22.6 million, most of which was for his personal security. Nearly $20 million went toward security for Zuckerberg and his family, up from about $9 million the year prior. Zuckerberg also received $2.6 million for personal use of private jets, which the company said was part of his overall security program. Chief Operating Officer Sheryl Sandberg took home $23.7 million in 2018 compared to $25.2 million last year. Facebook has in the past few years faced public outcry over its role in Russia’s alleged…
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Malaysia Pulls About-Face Ahead of China’s Belt and Road Forum

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In a twist, China has announced that it has persuaded Malaysia to resume a canceled rail project worth $10.7 billion. The sudden about-face by Kuala Lumpur, which had earlier rejected the Chinese-funded project, will be a big boost for China ahead of a Belt and Road Forum in Beijing later this month, say analysts. China is hosting its second annual Belt and Road Forum from April 25 to 27 in Beijing. The event is likely to include the heads of state and governments of 40 different countries and officials from 60 others as Beijing tries to win more support for the trillion-dollar infrastructure and investment plan known as the Belt and Road Initiative, or BRI. In recent months, the initiative has faced tough challenges as Sierra Leone, Bangladesh, Myanmar and…
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Blackouts Threaten Death Blow to Venezuela’s Industrial Survivors

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The latest power outage started another tough week for factory owner Antonello Lorusso in the city of Valencia, once Venezuela's industrial powerhouse. For the past month, unprecedented nationwide blackouts paralyzed the factory and the rest of the country, cutting off power, water and cell service to millions of Venezuelans. Lorusso's packaging plant, Distribuidora Marina, had already struggled through years of hyperinflation, vanishing client orders, and a flight of employees. Now the situation was worse. For the whole month of March, Lorusso said, his company produced only its single daily capacity: 100 tonnes of packaged sugar and grains. When Reuters visited on April 8, he was using a generator to keep one of his dozen packaging machines working to fulfill the single order he had received. Power had been on for…
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Walmart Responds to Bezos with Tweet Asking Amazon to Pay Taxes

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Amazon.com Inc Chief Executive Jeff Bezos on Thursday challenged retailers to hike their minimum wages to $16 an hour, prompting a comeback from Walmart Inc which asked its rivals to pay taxes. "Today I challenge our top retail competitors (you know who you are!) to match our employee benefits and our $15 minimum wage," the billionaire entrepreneur said in a letter to shareholders. "Do it! Better yet, go to $16 and throw the gauntlet back at us." The online retailer raised its minimum wage to $15 per hour for U.S. employees from November, giving in to critics of poor pay and working conditions at the company. Some critics have said the hike was insufficient and note that Amazon paid zero U.S. federal income tax on more than $11 billion in…
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Disney Announces Price , Date of New Streaming Service

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Walt Disney Co on Thursday said its new family-friendly streaming service will cost $7 monthly or $70 annually with a slate of exclusive TV shows and movies from some of the world's most popular entertainment franchises in a bid to challenge the digital dominance of Netflix. The ad-free monthly subscription called Disney+ is set to launch on Nov. 12 and in every major global market over time, the company said. In addition to Disney films and TV shows, it will feature programming from the Marvel superhero universe, the "Star Wars" galaxy, "Toy Story" creator Pixar animation and the National Geographic channel. The company said it has struck deals with Roku Inc and Sony Corp to distribute Disney+ on streaming devices and console gaming systems and expects it to be widely…
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SpaceX Launches Falcon Heavy Rocket, Lands All 3 Boosters

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SpaceX launched its second supersized rocket and for the first time landed all three boosters Thursday, a year after sending up a sports car on the initial test flight. The new and improved Falcon Heavy thundered into the early evening sky with a communication satellite called Arabsat, the rocket’s first paying customer. The Falcon Heavy is the most powerful rocket in use today, with 27 engines firing at liftoff — nine per booster. Eight minutes after liftoff, SpaceX landed two of the first-stage boosters back at Cape Canaveral, side by side, just like it did for the rocket’s debut last year. The core booster landed two minutes later on an ocean platform hundreds of miles offshore. That’s the only part of the first mission that missed. “What an amazing day,”…
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