News Desk

OECD Tells Canada to Cool Off Housing Markets

Date: 2 June 2016

The Organization for Economic Cooperation and Development (OECD) fears that Canadian home sales may be ramping up to a bubble. According to the OECD, the Canadian government needs to cool off the overheating housing markets in Toronto and Vancouver.

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France Joins European Good Growth Club

Date: 1 June 2016

French economic growth impressed economists, who were expecting weakness alongside poor growth in America. France’s economy, however, saw a 0.6% growth in GDP in the first quarter, according to new a report by France’s National Institute of Statistics and Economic Studies (INSEE). The strong growth was partly attributed to improved trade thanks to a stronger U.S. dollar, which has made French exports more attractive to consumers at home and abroad.

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Eritrea Official Invokes International Conspiracy to Explain Mass Exodus

Date: 1 June 2016

Eritrean Foreign Minister Osman Saleh claimed that the international community is responsible for enticing tens of thousands of Eritreans out of the country through asylum offers. He conceded that Eritrea’s poor economy is the primary reason behind the migration, but he also believes that world powers aim to destabilize Eritrea.

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June Interest Rate Preview: Uncertainty Mounts

Date: 31 May 2016

Investors are reconsidering earlier expectations that the Federal Reserve will increase interest rates in June. After several speeches from regional Fed presidents strongly suggesting a rate hike was imminent, Federal Reserve president Janet Yellen struck a more conservative tone late last week, hinting that the Fed might wait a little longer before raising interest rates.

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IMF: Long-Term Prediction, Greece will Struggle for Decades

Date: 31 May 2016

Greece is currently suffering through one of the direst economic crises of any industrialized nation in history. Now, the nation finds itself at the heart of a policy struggle between Eurozone lenders and the International Monetary Fund (IMF) over debt reductions prior to additional bailout funding. This has led to the IMF’s revision of its long-term projections for the embattled nation.

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More Warnings on Britain Exiting the EU

Date: 30 May 2016

More experts are weighing in on Britain’s upcoming referendum on its membership in the EU. A flurry of warnings from bankers, economists, politicians, and experts have bombarded Brits in recent months, with daily discussions at the BBC, The Times, the Telegraph, and other major British publications urging British citizens to vote to remain in the EU.

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Argentina Intends to Bestow Amnesty on Undeclared Assets

Date: 30 May 2016

President Mauricio Macri announced that Argentines holding undeclared assets or cash in overseas accounts could bring it back to Argentina without legal consequences, according to The Wall Street Journal. The government aims to tax offshore money to fund pensions and other programs. Analysts estimate that over $500 billion in Argentine assets remain in overseas accounts, and incoming funds would be taxed anywhere from 0% to 15%.

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U.S.: World Bank’s Decision to Re-Enter Cambodia Questionable

Date: 30 May 2016

The United States is accusing the World Bank of failing to learn from past mistakes and asserting that Cambodia is violating human rights. The World Bank’s Board of Executive Directors voted to approve four projects in Cambodia and to loan the nation $130 million in support of those projects.

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U.S. GDP Growth Estimates Boosted on Strong Economic Data

Date: 27 May 2016

A number of economic studies show renewed strength in the American economy, helping the Federal Reserve boost its estimates for growth. The Atlanta Federal Reserve’s real-time GDP estimator, GDPNow, has raised its estimates for growth to 2.9%, an increase of 16% from the last estimate. That is the highest growth estimate in over a year.

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World Bank: Combat Climate Change with a Carbon Pricing System

Date: 27 May 2016

In 2015, a handful of nations undertook a social experiment. Urged by groups, including the World Bank, who felt that combatting climate change required an economic incentive, these adventurous countries, and a number of states, regions, and cities, have begun charging companies that produce carbon as part of their operation. In just a year, the benefits of these programs have already begun to show.

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U.S. Sees Higher Trade Deficit, Lower Services Activity

Date: 26 May 2016

American trade policy is failing to shrink the trade deficit with other countries as weak demand crimps services industries throughout the country. The trade balance between the United States and foreign countries rose 3.4% on a month-over-month basis in April, rising to $57.5 billion; however, that also represents the lowest trade deficit since February 2015.

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UN Deploys Investigators in Burundi in Response to Human Rights Abuses

Date: 26 May 2016

The United Nations (UN) has completed its deployment of monitors sent to investigate human rights abuses in Burundi, according to Africa News. Over 450 people have been killed since last year, when President Pierre Nkurunziza won a third term beyond his official mandate. Three people were murdered in the latest string of killings, including a former army colonel.

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IMF to Europe: No Cash for Greece without Debt Relief Promise

Date: 26 May 2016

Greece has become the focus of a battle between European nations and the International Monetary Fund (IMF). The economically struggling nation that is drowning in debt will not receive any additional aid from the IMF, according to a senior International Monetary Fund official, unless Greece’s creditors in Europe agree to concise debt relief terms.

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Investors Cheer New Home Sales Blowout

Date: 25 May 2016

Investors dived into the stock market after American home sales crushed expectations with double-digit gains. New home sales in April soared to 16.6% more than sales in March and 23.8% from a year ago, according to a new report by the Census Bureau.

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Tajikistan Referendum Allows President to Rule Indefinitely

Date: 25 May 2016

Referendum results show that over 94 percent of Tajiks approved a change to the constitution allowing President Emomali Rakhmon to run for office indefinitely, according to Business Insider. The international community has long decried Tajikistan’s history of election fraud, however, and the recent results are highly questionable. Rakhmon has ruled the country since 1992.

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World Bank to Lend $100 Million to India for Clean Water in Karnataka

Date: 25 May 2016

The World Bank and India signed a deal on Tuesday by which the nation will receive $100 million in loan funds to provide the citizens of Karnataka with a continuous supply of fresh, running water. The Karnataka Urban Water Supply Modernization Project will provide access to continuously piped water to the cities of Karnataka, a poor region of India.

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Economists: U.S. to Face Greater Inflation

Date: 24 May 2016

After several years of weak inflation, economists now believe Americans will see higher prices in 2016 and beyond. Weak inflation that fell into near deflation in 2015 has reversed course, with the U.S. consumer price index (CPI) rising to its highest point since 2013. The CPI for all items rose over 1.1% in April, and has shot up markedly after falling earlier in 2016. Excluding food and energy, the CPI rose over 2.1% in April.

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