Category: Business

Uganda's growing debt is sustainable, and the country is not at risk of losing state assets to China, the country's finance minister, Matia Kasaija, said this week. Uganda's auditor-general warned in a report released this month that public debt from June 2017 to 2018 had…

Despite the U.S. stock market recovery, Macy's and American Airlines' revised revenue forecasts for 2018 have sent their stock prices spiraling. Other retail stocks fell, too, including J.C. Penney, Nordstrom and Kohl's. The reports come amid news of another iconic department store, Sears, fighting for…

The 800,000 federal workers who are not being paid or are working without pay during the partial government shutdown were the first to feel its impact. But as Anna Kook reports, other segments of the economy are also being hurt, especially in Washington, home to…

U.S. officials expect a visit from China’s top trade negotiator this month in Washington, signaling that higher-level discussions are likely to follow this week’s talks with midlevel officials in Beijing as the world’s two largest economies try to reach a deal to end a tit-for-tat…

China’s Commerce Ministry says that the United States and Beijing made progress in discussions about structural issues such as forced technology transfers and intellectual property rights during trade talks this week. But the lack of details from both sides following the meetings highlights the uncertainty…

The United States says talks in Beijing on ending a bruising trade war focused on Chinese promises to buy more American goods. But it gave no indication of progress on resolving disputes over Beijing’s technology ambitions and other thorny issues. China’s Ministry of Commerce said…

Deep in a provincial region of northwestern Turkey, it looks like a mirage — hundreds of luxury houses built in neat rows, their pointed towers somewhere between French chateau and Disney castle. Meant to provide luxurious accommodations for foreign buyers, the houses are however standing…

With the March deadline approaching for Britain to depart the European Union, there are concerns that Britain's exit could undermine Western sanctions against countries like Iran, Syria and North Korea. Analysts note that Britain has been influential in persuading the EU to take action, saying…

Concerns have arisen that European sanctions against countries like Iran, Syria and North Korea could be undermined by Britain’s upcoming departure from the European Union. Britain will be free to implement its own sanctions regime — and while both Brussels and London insist they will…

Another clutch of U.S. Federal Reserve officials said Wednesday they would be cautious about any further increases in interest rates so that the central bank could assess growing risks to an otherwise solid U.S. economic outlook. The presidents of three of the 12 Fed regional…

The World Bank is downgrading its outlook for the global economy this year, citing rising trade tension, weakening manufacturing activity and growing financial stress in emerging-market countries. In a report titled “Darkening Skies,'' the anti-poverty agency said Tuesday that it expects the world economy to…

Peru Attorney General Pedro Chavarry resigned on Tuesday after a public outcry over his handling of the high-profile corruption investigation involving Brazilian builder Odebrecht. His departure from the public prosecutors office marks a fresh victory for President Martin Vizcarra and supporters of his measures to…

Labor rights campaigners warned against complacency as the European Union on Tuesday withdrew its threat to ban Thai fishing imports into the bloc, saying that the country has made progress in tackling illegal and unregulated fishing. The EU's so-called "yellow card" on Thai fishing exports…

Hospitals in Zimbabwe are turning away patients as a strike by doctors enters its sixth week. There is no end in sight to the strike, as President Emmerson Mnangagwa's government says it cannot meet the doctors’ demands. The Parirenyatwa Group of Hospitals, Zimbabwe’s largest treatment…

U.S. Commerce Secretary Wilbur Ross said there is "a very good chance" that the United States and China will reach a trade agreement.  Ross told CNBC he is hopeful such a deal would address “all the key issues.” Working-level trade talks between the United States…

Mexican President Andres Manuel Lopez Obrador said on Monday that his crackdown against fuel theft was yielding positive results, even as the intervention sparked severe fuel shortages in parts of the country and long lines of angry motorists. In a bid to eliminate years of…

A U.S. trade delegation has arrived in Beijing. The group is in China to hold two days of talks, beginning Monday, focusing on how best to carry out an agreement reached by U.S. President Donald Trump and Chinese President Xi Jinping to postpone new tariff…

A surge in U.S. job creation and some reassuring words from the head of the U.S. central bank sent U.S. stocks soaring Friday.   The Labor Department reported a net gain of 312,000 jobs in December, far more than economists predicted. The unemployment rate, however, rose…

Marriott International Inc said Friday that fewer than 383 million customer records were stolen in a massive cyberattack disclosed last month, down from its initial estimate that up to 500 million guests were affected. The hotel operator also said that some 25.55 million passport numbers…

It sounds like a Hollywood caper: A group of investors and officials convince European banks to loan a total of $2 billion to a resource-rich African nation trying to rebuild after a bruising civil war.   The money promptly disappears, and then this caper turns…

Asian markets Friday continued the global sell-off triggered by Apple’s warning of lower revenues and futures indicators predict a sharply lower opening for U.S. markets. The Tokyo market dropped 3 percent in morning trading, and markets in Shanghai, Sydney, Seoul and Taipei were also down.…

Herb Kelleher, who changed the airline industry by helping create and lead Southwest Airlines, a low-fare carrier that made air travel more accessible to the masses, has died. He was 87.    Southwest confirmed that Kelleher died Thursday.    Kelleher was a lawyer in San…

Three former Credit Suisse Group AG bankers were arrested in London on Thursday on U.S. charges that they took part in a $2 billion fraud scheme involving state-owned companies in Mozambique, a spokesman for U.S. prosecutors said. Andrew Pearse, Surjan Singh and Detelina Subeva were…

A federal judge says a New York City law forcing Airbnb and HomeAway home-sharing platforms to reveal detailed information about its business seems unconstitutional. Judge Paul Engelmayer on Thursday blocked the law from taking effect on Feb. 2, finding there’s a greater than 50 percent…

Tesla made about 9,300 more vehicles than it delivered last year, raising concerns among industry analysts that inventory is growing as demand for the company’s electric cars may be starting to wane. If demand falls, they say, the company will enter a new phase of…

The sweet aroma of mutton smoke drifts through a maze of crumbling alleyways, a barbecue tang that for decades has lured meat-eaters from across Pakistan to the frontier city of Peshawar. The ancient city, capital of northwestern Khyber Pakhtunkhwa province, has retained its reputation for…

Rotting hides on the road are all that is left of three butchered cows. Such carnage is common in Venezuela's cattle country, where thieves, squatters and government policy threaten a vital food resource. Venezuela's severe economic crisis is felt keenly in cities — where food…

Digital developments that have upended businesses throughout the global economy, from music to manufacturing, are also changing what the world trades and how manufacturers and merchants move and sell their goods. Experts tell VOA's Jim Randle, the digital revolution presents significant opportunities, but also serious…