Category: News Desk

U.S. Economy Surges on Higher Incomes, Manufacturing Data


Both incomes and manufacturing activity are growing in America, leading to hopes that the economic recovery is finally here.  Wage growth surged in March as 215,000 new jobs were created in the month, according to the Bureau of Labor Statistics. While the unemployment rate unexpectedly rose to 5%, jobs were gained “in retail trade, construction, and health care.”

The increase in total jobs and a shift towards job growth in higher paid industries helped wages, which were up 2.3% on a year-over-year basis in March.

Germany Pledges Aid for Kyrgyzstan during Tough Times


German Foreign Minister Frank-Walter Steinmeier visited Kyrgyzstan and praised the government for its commitment to democracy, according to Deutsche Welle. Germany pledged additional money to Kyrgyzstan to combat the Islamic State’s growing influence in the region. Kyrgyz Foreign Minister Erlan Abdyldaev stated that his government needs more aid to combat the spread of radicalism.

IMF Attempts to Smooth Tensions with Greece after Phone Transcripts Leak


The International Monetary Fund (IMF) spent the weekend trying to smooth tensions with Greece following the release of a transcript of leaked phone calls between IMF officials. The head of the International Monetary Fund, Christine Lagarde, took personal notice of the matter and attempted to smooth tensions with Greece Sunday after Greek officials raised questions about whether it can obtain further funding as part of its $98 billion bailout.

U.S. Home Prices Continue to Rise


American house prices are continuing to rise at a pace described by one economist as “unsustainable.”   Two indices of home prices showed a sharp increase in prices throughout America, with gains beating inflation in just about every major metropolitan area in the country. According to the S&P Case-Shiller Home Price Index, home prices rose 5.1% in the 10-city composite, while the 20-city composite—, which covers a broader swathe of medium-sized cities—saw a 5.7% year-over-year gain.

Cameroon Seeks to Permanently Cripple Boko Haram


Cameroon commenced a joint operation with Nigeria this week against Boko Haram along the northern border, according to the Associated Press. Cameroon has been plagued with numerous attacks as the government combats the terrorist organization in the northern region. The conflict displaced over 7,500 citizens, but the government hosts over 45,000 Nigerians who fled from their homeland.

IMF Suggests Ways for Australia to Make 80-Fold Return on Its Investment


The International Monetary Fund (IMF) has an enticing suggestion for Australia. If it wants a solid way to make an 80-fold return on its investment, it needs to invest $1 billion a year on tax breaks for corporate research and development (R&D). This suggestion was part of a study recently conducted by the IMF.

Iraq May Receive Financial Aid Package in 2016 and Beyond


The Iraqi government could receive $6.4 billion from organizations and donors in 2016, according to Reuters. Iraq has commenced negotiations with the International Monetary Fund (IMF), and authorities could receive $15 billion in assistance over the next three years. Iraq’s economy is nearly in tatters, which is primarily due to warfare and lower oil prices. Negotiations for the $15 billion aid package could end in June.

IMF Pulling Out of Nicaragua, Says Job Done


The International Monetary Fund (IMF) announced on Wednesday that it would close its Nicaraguan office in August. In making the announcement, the group indicated that it believed its job in the Latin American country was done, and that Nicaragua was on the correct path to sustainable growth. 

Federal Reserve Mulls Further Economic Stimulus


Seeing a weak economy and struggling middle class, the Federal Reserve is considering measures to stimulate the economy.  In a speech earlier this week, Janet Yellen, Chair of the Federal Reserve, said the Fed has “considerable scope” for stimulating the economy, hinting that something akin to the Quantitative Easing programs of the late 2000s and early 2010s may be in the cards in the near term.

Zambia Enhances Energy Infrastructure as Economy Falters


The Zambian government announced its intention of adding 420 MW of electricity in 2016 as grid projects contribute to development, according to Reuters. The new energy target entails generating 300 MW from a new coal plant, while the remaining 120 MW will derive from a hydropower facility.

Zambia has suffered a significant water shortage stemming from a drought, hampering output from hydroelectric plants. Officials remain dedicated to hydroelectricity, however, which could add 3,000 MW of energy to the national grid by 2024.