News Desk

UK Falling Trade Deficit Rebukes Brexit Fearmongers

Date: 10 June 2016

A decline in Britain’s trade deficit due to a sharp increase in exports is emboldening supporters of the UK leaving the European Union. The country’s trade deficit with foreign countries fell significantly, after a high deficit was recorded earlier in the year.

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Turkmenistan Seeks Military Assistance from Russia to Preserve Border Security

Date: 10 June 2016

Russian media announced that Moscow would provide financial assistance and weapons to Turkmenistan forces, according to EurasiaNet. Turkmenistan has remained neutral, but authorities grow increasingly worried over the growing instability in neighboring Afghanistan. President Gurbanguly Berdymukhamedov stated that he intends to upgrade the military and improve soldier training.

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OECD: Air Pollution May Cost World Economy $2.6 Trillion per Year by 2060

Date: 10 June 2016

At this point, there are few that contest that air pollution reduces the quality of life in urban centers and may be a major contributor to climate change. However, a recent study by the Organization for Economic Cooperation and Development (OECD) examined the economic consequences of air pollution and arrived at some disturbing findings.

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Weak Jobs, Consumer Activity Hint at Weakening American Economy

Date: 9 June 2016

A disappointing increase in job openings and a poor increase in consumer credit indicate Americans are increasingly struggling to make ends meet. In April, consumer credit rose just $13.4 billion, far below the $18 billion expected and less than half of March’s $28.4 billion, according to new data released by the Federal Reserve.

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ICC: Singapore Top Destination for International Arbitration in Asia

Date: 9 June 2016

The International Chamber of Commerce (ICC) Court of Arbitration released a list of its top destinations for international arbitration. With the growing economic importance of Asia, it is no wonder that an Asian nation has risen to the top of the rankings. Singapore has taken the fourth seat on the list of most chosen arbitration venues overall, and first in Asia. This is the tenth consecutive year the nation has been in the top five.

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Worsening Labor Conditions Spook Federal Reserve

Date: 8 June 2016

Deterioration in America’s job market are making the Federal Reserve reverse course on its plans to raise borrowing costs. In May, several chief Fed officials gave public speeches and interviews urging markets to prepare for an interest rate hike.

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Formula One Urged to Decry Azerbaijan’s Human Rights Record

Date: 8 June 2016

Sport for Rights, an organization that highlights human rights abuses in Azerbaijan, has urged Formula One to speak out against transgressions committed by the state, according to The Guardian. Azerbaijan has a track record of detaining journalists and political dissidents, among other violations. Azerbaijan is set to host the Formula One race on June 19.

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UK Sees Economic Bright Spot

Date: 7 June 2016

A small improvement in manufacturing in the UK surprised economists, as the country looks at its economic future in the European Union. The most recent Markit Purchasing Managers Index for services (PMI) rose to 53.5, a sharp increase from the prior month. The data stunned economists, who had expected a much weaker reading.

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DRC President Considers Staying Beyond Official Mandate

Date: 7 June 2016

Senior official, Henri Mova Sakani, stated that a constitutional referendum is up for consideration allowing President Joseph Kabila to run for a third term in the Democratic Republic of Congo. The referendum is part of a larger trend in Africa, as some leaders change the constitutions of their homelands to remain in power, but he would face stronger opposition from political opponents. Kabila has ruled since 2001, but is set to exit this year as the presidential election begins in November.

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WTO Calls UAE a Global Trade Hub; Praises Economic Policies

Date: 7 June 2016

The World Trade Organization (WTO) recently reviewed the United Arab Emirates (UAE) and its trade policies, and ranked it against other member nations around the world. According to the WTO, the UAE has become a key player in global trade, and it lauded the Middle Eastern Nation’s commitment to a multilateral trading system and policies for free and open trade.

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U.S. Job Market Suffers a Disaster

Date: 6 June 2016

A new report on the job market in America is being called a “disaster” by several economists, as weak job growth and discouraged workers contribute to a bleaker economic outlook.

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Mongolia and U.S. Cement Ties as Mongolian Economy Suffers

Date: 6 June 2016

U.S. Secretary of State, John Kerry, visited Mongolia on Sunday as Mongolian leadership aims to foster closer ties to the United States, according to PBS. Mongolia retains partnerships with China and Russia, but will also align closer with Washington to secure economic stability. Mongolian elections take place next month as some protesters call for the disbanding of parliament.

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New Thinking needed to Finalize Jordan, IMF Deal

Date: 6 June 2016

Jordan has been engaging in talks with the International Monetary Fund (IMF) over the issue of the Extended Fund Facility (EFF) for some time. Now, the negotiations are in the final stages, expected to conclude in July, but the Middle Eastern Nation will be required to employ out-of-the-box thinking in order to achieve the requirements set forth by the IMF.

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Stable Unemployment but Weak Job Gains define the U.S. Labor Market

Date: 3 June 2016

A microscopic gain in jobs and a steady unemployment rate indicate gradual improvements in America’s job market. Two separate reports on the labor market indicate improvements for workers, with both the Department of Labor and ADP, a private payrolls firm, showing muted robustness for Americans.

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Angolan President Appoints Daughter as Head of National Oil Company

Date: 3 June 2016

President Jose Eduardo dos Santos appointed his daughter, Isabel dos Santos, as head of state oil company Sonagaol after disbanding the old board, according to Reuters. The president wishes to improve oil production as the economy struggles, and he believes his daughter has the necessary business savvy to excel in the post. Angola became OPEC’s largest oil producer in Africa as Nigeria undergoes cutbacks stemming from militant attacks.

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IMF Says Venezuela Will Suffer 750% to 1200% Inflation

Date: 3 June 2016

Venezuela has been economically embattled for some time, and the future does not appear any brighter. The International Monetary Fund (IMF) recently projected that the nation’s inflation rate will spike somewhere between 750% and 1200%.

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Manufacturing Crashes to Crisis-Level Lows

Date: 2 June 2016

Manufacturing in the United States has turned significantly weaker, hitting its lowest point since 2009. In May, manufacturing activity fell because of weak new order growth and poor inventories.

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Armenia Loses Foreign Investment: Debt Burden Increases

Date: 2 June 2016

Armenia is losing credibility among foreign investors as high debt and mismanagement scare away members of the business community, according to AzerNews. Armenia relies on foreign investment, Russian remittances, and loans to sustain the economy, but authorities squandered most of the loan money, and investment projects have failed to spur economic growth thus far.

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