Category: News Desk

Political Killings Continue in Burundi as Tensions Worsen


Phocas Bakaza of the ruling CNDD-FDD party in Burundi was killed in the latest incident of political violence that has persisted for over a year, according to Reuters. Over 400 people have been murdered since President Pierre Nkurunziza’s unconstitutional third-term re-election in July 2015. Nkurunziza supporters contended that the president could run for a third-term based on a court ruling, but critics and opposition party members have rejected such a claim.

Falling Profitability Hurting U.S. Small Businesses


A decline in business profitability is causing pain among small business owners, who are growing more pessimistic about their economic future.  Small business profitability slumped in the first quarter of 2016, with expectations of weaker earnings for the near future, according to a new study by the National Federation of International Businesses.

“Earnings trends worsened 1 point to a negative 22 percent reporting quarter on quarter profit improvements. Far more owners are reporting profits lower quarter to quarter than higher,” said the report.

Education for Women: World Bank to Invest $2.5 Billion


The World Bank and the International Monetary Fund are conducting their spring meeting this week in Washington. Announcements of major new initiatives are always expected after these meetings, but one has many people around the world very excited. This week, the World Bank announced its plan to invest $2.5 billion in girls’ and young women’s education.

Argentinian Former President Faces Heat from Conservative Government


Former President Cristina Fernández de Kirchner was called to testify before the central bank this week for allegedly manipulating the Argentine peso during her tenure. Kirchner fiercely denied the allegations and has called the investigation a political attack against her legacy.

British Manufacturing Weakens while Home Prices Move Higher


The United Kingdom is seeing a weaker manufacturing sector, pressuring workers’ wages even as house prices continue to skyrocket and basic goods and services see accelerating inflation.

The UAE and UK Sign Economic Treaty Ending Double Taxation


The United Arab Emirates (UAE), and the United Kingdom (UK) signed an agreement on Wednesday designed to end double taxation between the citizens of the two nations. The UAE’s Minister of State for Financial Affairs, Obaid Humaid Al Tayer, and the UK’s Commercial Secretary to the Treasury, Lord O’Neill of Gatley, signed the treaty, which is intended to enhance the economic and trade ties between the countries and to protect both companies and individual citizens from the threat of double taxation.

Nigerian President Seeks China’s Help as Economy Tumbles


Nigerian President Muhammadu Buhari has planned a four-day trip to China this week to secure infrastructure loans and foster closer ties, according to The Wall Street Journal. Nigeria’s economy has suffered from factors, such as lower crude prices and a slow-down in Chinese demand. Presidential spokesman Femi Adesina stated that 18 months would pass before the West African nation will see a recovery.

Obama Pleased with Fed as Junk Bubble Looms


President Barack Obama was reportedly pleased with a closed-door meeting with the head of the Federal Reserve, but investment banks warn that junk bonds are in a bubble as corporate profitability collapses.

OECD Schedules Meeting to Discuss “Joint Action” Regarding Panama Papers


The Organization for Economic Cooperation and Development (OECD) announced last week that it will assemble tax officials from its various member nations to discuss ways that governments can learn and improve policies in the wake of the Panama Papers scandal.

The OECD nations will attempt to find ways to share information and analyze the data flowing from the Panama Papers investigation to tighten up their own tax laws and to prevent the type of sheltering that is alleged to have occurred in Panama.

New Central African Republic President Seeks to Heal Old Wounds


Newly elected President Faustin-Archange Touadéra formed a cabinet comprising of allies and rivals to foster a healing process after years of warfare, according to Voice of America. Central African Republic (CAR) has been plagued by sectarian conflict between Muslim and Christian militias, and the new president deliberately isolated militia supporters on both sides to send a strong message.