Economy
Defying experts, Trump vows tariff-driven US economic boom
Donald Trump pledged Tuesday to deliver a historic windfall for the United States through a business-friendly economy that would reward companies manufacturing domestically -- but heavily penalize those selling Americans foreign-made goods.
No peak oil demand 'on the horizon', phaseout a 'fantasy': OPEC
OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would keep growing until at least 2050, a key year in the battle against climate change. "What the Outlook underscores is that the fantasy of phasing out oil and gas bears no relation to fact," Ghais said in the report's foreword.
Nigerians disappointed as FG’s duty-free import on food Items fails to start, reasons emerge
The Nigeria Customs has disclosed that the failure of the implementation of duty-free import was due to the Federal Ministry of Finance which did not provide lists
US Fed dissenter warns inflation risks remain 'prominent'
The sole Federal Reserve official not to support last week's large interest rate cut said Tuesday that the risks of inflation reigniting remained "prominent." Speaking in the US state of Virginia on Tuesday, Bowman said "the upside risks to inflation remain prominent."
France facing 'one of worst deficits' in its history: minister
France now has "one of the worst" public deficits in its modern history, the newly-installed economy minister said Tuesday, confirming new taxes on the wealthy and big businesses are on the table to get finances back in order. "Apart from one or two one-off crisis years in the past 50 (years), we have one of the worst deficits in our history," Armand told broadcaster France Inter.
Dutch paint giant Akzonobel slashes 2,000 jobs worldwide
AkzoNobel, the world's leading paintmaker and manufacturer of Dulux paint, said Tuesday it was cutting 2,000 jobs globally, more than five percent of its workforce, as it strives to cut costs. AkzoNobel has turned in three consecutive quarters of growth but the industry has suffered from rising raw material costs and a slowing global economy.
IMF says ready for talks with Sri Lanka's new leftist government
The International Monetary Fund is ready to discuss its controversial $2.9 billion bailout programme for Sri Lanka with the country's new government, a spokesman said. "We will discuss the timing of the third review of the IMF-supported programme with the new administration as soon as practicable," the spokesperson said referring to the periodic review of the bailout.
Hong Kong, Shanghai rally on China stimulus on mixed day for markets
Hong Kong and Shanghai stocks rallied Tuesday after China unveiled fresh stimulus measures as the country's leaders struggle to kickstart growth in the world's number two economy. Hong Kong stocks jumped more than two percent and Shanghai was up around 0.8 percent.
China unveils fresh stimulus to boost economy
China's central bank on Tuesday unveiled a raft of measures to boost the country's struggling economy, cutting the amount of cash banks must hold in reserve and lowering a key interest rate. On Tuesday, central bank chief Pan Gongsheng told a news conference in Beijing that it would cut a slew of rates in a bid to boost growth.
Economy
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