News Desk

World Bank: Forced Displacement Life Improvement Contest Winners

Date: 21 June 2016

Forced displacement has become a growing problem around the world. Millions of people have been driven from their homes by conflicts, development, and political disputes. The situation has reached crisis levels, and the World Bank has sought innovative new ways to improve the lives of those affected by these forced displacements.

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Persistent Low Interest Rates Bring Bank Woes

Date: 21 June 2016

Persistently low interest rates are set to hit bank profits in America, triggering warnings from analysts across Wall Street. A number of notes released late last week and early this week to clients warned that Federal Reserve policy is likely to hinder bank profits for a long time, bringing to doubt both Wall Street’s ability to improve profitability and the future of employment in the financial sector.

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Rwanda Invests in Energy and Food Security

Date: 20 June 2016

The Rwandan government approved an energy-storage system that will provide 2.68 MW of energy to an irrigation project, according to The New Times. The equipment will be supplied by German company Tesvolt and will energize water pumps for irrigating crops. Authorities aim to mitigate stress on the national grid and secure food stability for struggling Rwandans.

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World Bank Provides Guidance to Zimbabwe on Its Ongoing Cash Shortage

Date: 20 June 2016

The African nation of Zimbabwe has been in the depths of a cash shortage with crippling effects: Zimbabwean banks have been forced to limit the amount of cash they give to their customers; foreign currencies (particularly the United States dollar) have become more widely accepted than domestic currency; and money laundering and capital flight have skyrocketed.

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Divided Polls, Economic Views on Brexit

Date: 20 June 2016

New polls of UK voters show the Brexit vote remains uncertain. After several weeks of the vote to leave the European Union gaining, more recently the polls have become murkier, with a near-tie between the leave and remain camp. According to The Financial Times, a British financial newspaper, both sides have a 44% vote, while other polls show a spread of just 1% or 2% in favor of remaining.

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New Peruvian President Faces Hurdles after Election Win

Date: 17 June 2016

Presidential hopefulKeiko Fujimoriconceded defeat to winner Pedro Kuczynski, but he faces the daunting task of reaching out to the opposition while fixing Peru’s economic problems. Fujimori has vowed to lead the opposition in Congress, but shares some of his views on market-oriented reforms. Peru is a commodity-driven economy that has suffered from lower commodity prices.

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Singapore Signs on for OECD / G20 Tax Revisions

Date: 17 June 2016

In the wake of the infamous “Panama Papers,” nations around the world have felt extraordinary political pressure, both from within and from international economic organizations, to reform tax laws. These reforms are generally aimed at providing better transparency while closing loopholes that allow foreign organizations and individuals to funnel cash in an effort to avoid taxes in their home nations.

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American Home Prices Set to Rise, Jobs to Fall

Date: 17 June 2016

New data suggests home prices in America will keep climbing, despite continued weakness in the labor market causing unemployment to rise. Builders are increasingly confident about the single-family home market, according to a new study by the National Association of Homebuilders. The NAHB's Housing Market Index rose by 2 points in June because of more buying activity and a limitation on places to build new homes.

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Nigerien Government Needs More Help to Fight Boko Haram

Date: 16 June 2016

President Mahamadou Issoufou has called on France to renew its commitment in fighting terrorist organization Boko Harm, according to Times Live. The Nigerien leader requested increased intelligence and other forms of military assistance. France intends to send more troops to the region to help African states counter terrorism.

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IMF Delegation Arrives in Mozambique, Currency Devalues

Date: 16 June 2016

On Wednesday, the remarkably poor African nation of Mozambique received a delegation from the International Monetary Fund (IMF). The IMF was invited to visit Mozambique to help the government find a way out of a crisis of debt that has crippled the nation and could lead to civil and political unrest.

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New Myanmar Government Welcomes World Community

Date: 15 June 2016

Newly elected ruling party National League for Democracy (NLD) will welcome French Foreign Affairs and International Development Minister Jean-Marc Ayrault in the latest effort to open up Myanmar to the world, according to The Diplomat.

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Indian Infrastructure Public and Private Investment at a Ten-Year Low

Date: 15 June 2016

According to a report by the World Bank, in 2015 India hit a decade low level of investment in public infrastructure from sources both public and private, foreign and domestic. The reduction appears akin to similar contractions in investments seen in other distressed emerging economies, like China and Brazil.

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Are Central Banks Losing Control or Credibility?

Date: 15 June 2016

More fund managers are preparing for a steep decline in stocks as the Federal Reserve announces whether it will raise interest rates. The Federal Open Market Committee press release, due Wednesday afternoon, is a much-awaited announcement on whether this is the meeting where the Federal Reserve will change monetary policy.

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Syria’s Central Economy Remains Broken: Survival Economy Emerges

Date: 14 June 2016

BMI Research states that Syria’s economy will contract at an annual 3.9 percent from 2016 to 2019 as civil war rages on, according to Business Insider. Growth is expected to return in 2020, but only through humanitarian assistance and investment from Russia and Iran. Syria’s GDP has plummeted since 2011.

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OECD Finally Issues Opinion on Brexit Issue

Date: 14 June 2016

The Organization for Economic Cooperation and Development (OECD) issued a policy paper this week on the matter of Great Britain’s exit from the European Union (EU), often called “Brexit.” According to the OECD, exiting the EU would cause “a major negative shock to the UK economy.” Thus, the organization has strongly warned against Brexit.

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More Warnings as Mainstream Urges Brexit Rejection

Date: 14 June 2016

As Britain nears its vote to leave the EU, several new warnings have appeared urging voters to vote against an exit. While several politicians, economists, and financial chiefs have attempted to deter voters from voting to split from the EU in recent months, new warnings in recent days have cast aspersions on the UK’s ability to go it alone economically.

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U.S. House Approves Package for Puerto Rico Debt Crisis

Date: 13 June 2016

In a 297-127 vote, the U.S. House passed a bill that helps Puerto Rico manage its debt crisis, according to NPR. Puerto Rico is $70 billion in debt and is expected to miss a July 1 payment. Under federal law, Puerto Rico is prohibited from using bankruptcy to restructure its debt.

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