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High-cost loans, Trump turmoil hurting Africa, says G20 panel chief
Critically needed economic growth in Africa is being held back by high borrowing costs imposed by international lenders, with unpredictable US policy changes adding to the strain, the head of the G20 panel on the continent said.
US doubles steel, aluminum tariffs as OECD ministers gather
The United States doubled steel and aluminum tariffs Wednesday, casting a pall on a gathering of OECD ministers as President Donald Trump's intensifying trade war weighs on the world economy. Despite the doubling of steel and aluminum tariffs Wednesday, imports from the UK will remain at 25 percent for now, while both sides work out duties and quotas in line with the terms of their trade pact.
Asian stocks track Wall St up after jobs data, Seoul surges on Lee win
Asian shares extended a global rise Wednesday following data indicating the US economy remained resilient, with South Korean equities and the won standing out as the election of a new president ended months of political paralysis.
US steel, aluminum tariff hikes to take effect Wednesday: W.House
The United States will double its tariffs on imported steel and aluminum starting Wednesday, according to the White House, as it published an order signed by President Donald Trump.
Eurozone inflation slows sharply in May
Inflation in the eurozone eased in May to its lowest level in eight months, back below the European Central Bank's two-percent target, further raising expectations for another interest rate cut this week. The ECB is expected to deliver its seventh-straight interest rate cut Thursday as the United States' volatile trade policies hang over the sluggish eurozone economy.
Trump, Xi will 'likely' talk this week: White House
US President Donald Trump and China's President Xi Jinping will likely hold a long-awaited call later this week, the White House said Monday, as trade tensions between the world's two biggest economies ratchet back up.
Trade war cuts global economic growth outlook: OECD
The OECD slashed its annual global growth forecast on Tuesday, warning that US President Donald Trump's tariffs blitz will stifle the world economy -- hitting the United States especially hard. While annual inflation is expected to "moderate" among the Group of 20 economies to 3.6 percent in 2025 and 3.2 percent in 2026, the United States is "an important exception".
Asian markets rise as traders eye possible Trump-Xi talks
Asian stocks rallied Tuesday as investors kept tabs on developments in the China-US trade war amid speculation the countries' leaders will hold talks soon. And Japanese trade point man Ryosei Akazawa is eyeing another trip to Washington for more negotiations amid speculation of a deal as early as this month.
Coral-rich Greek archipelago hopes to gain from trawler ban
As a reddish dawn broke over the tiny, coral-rich Greek archipelago of Fournoi, Manolis Mytikas's wooden fishing boat slowly glided home, his nets almost empty. Last month, the Greek government banned bottom trawling in the waters around the archipelago, to protect a recent discovery of exceptionally rich coral reefs.
AFP
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