Category: News Desk

Kenyan Economy Weakened in Q3 of 2015


Kenya’s economy grew 5.8 percent in the third quarter as authorities failed to meet their original growth target of 7 percent, according to Reuters. The government lowered the forecast in reaction to heavy rainfall and a smaller budget, but the overall state of the economy has remained stable. The construction and agriculture sectors contributed most to Q3 expansion, but the economy contracted due to a fall in tourism caused by an onslaught of Islamic militants.

Retail, Auto Sales Show Improvement as Home Prices Rise


Store sales saw higher growth for the last week of 2015, as post-holiday sales enticed more activity than a year ago.  Clearance sales drew “a strong response” according to Redbook Research, a retail research firm.

Following WTO Ruling, US Repeals Meat Labeling Law


Say what you will about the American diet — the truth is that Americans are actually among the most conscientious eaters in the world. Millions of Americans enjoy knowing exactly what they are eating, including where it came from; how it was processed, and other details of how it made it to the table. Now, a World Trade Organization (WTO) ruling has made it much harder to find out where Americans’ pork and beef was born, raised, and slaughtered.

Rwandan President Seeks Controversial Third Term


President Paul Kagame seeks a third term in office after parliament approved an amendment to the constitution, according to Al Jazeera. Kagame has built a reputation as a reformer, but critics cite his authoritarian style of governance and human rights abuses as reasons he should leave office.

According to voting results, over 98 percent of Rwandans approved a measure allowing Kagame to remain in power after his official term ends in 2017. The changes in the constitution would allow the president to remain in power until 2034.

2016 Starts with a Whimper


Economic data proved so weak at the beginning of 2016 that global markets fell and China halted stock trading.  In China, the Caixin Purchasing Managers Index (PMI), released by Markit Economics, fell to 48.2 in December, down from 48.6 and indicating the tenth month in a row of a contraction in activity.

Nigeria Seeks IMF Assistance as Economy Struggles


The sting of low oil prices has forced Nigerian president Mahammadu Buhari to seek help from the International Monetary Fund, according to Reuters. The president plans to boost spending to stimulate the economy, but Nigeria will need help from the organization to do so. The government plans to borrow up to 900 billion naira to satisfy the deficit, and authorities aim to double the deficit to 2.2 trillion naira in 2016.

India Seeks Leadership Role on Behalf of WTO Developing Nations


India felt snubbed following the World Trade Organization’s talks in Nairobi in December, and the resulting decision to table Doha, so the country’s leaders have become much more vocal about WTO affairs than usual. In fact, reports have now surfaced that India seeks to lead a contingent of WTO member states from the developing world intent on having a greater voice in the organization’s affairs.

Investor Worries Carry Over to the New Year


As trading begins in 2016, investors fret over the trends in oil and equities that dominated the last two years.  U.S. equities ended 2015 with a 2.15 percent loss, as measured by the S&P 500 excluding dividends.

Both large cap stocks and small cap stocks underperformed the broader market, with the Dow Jones Industrial Average ending down 3.43 percent and the Russell 2000 losing 6.57 percent in 2015.

2015 In Review: Collapsing Oil, Weakening Housing, Flat Equities


As 2015 winds to a close, economists examine the major trends in the American economy, noting a combination of deflationary effects that point to weak demand and possible volatility in the New Year.

The biggest story of 2015 was a continuation of the prior year’s biggest story: the falling price of oil. WTI futures fell to $35 at the end of December, recovering slightly but failing to breach $37 by the end of the year. Meanwhile, natural gas futures also fell to $2.22, reflecting a similar decline of over half its value from normal ranges seen in 2013 and 2014.

Argentinean President Seeks Transparent Government


The government issued a “national statistical emergency” as President Mauricio Macri seeks to reform how Argentina gathers statistics in pursuit of an accurate depiction of the economy, according to AFP.

Critics maintain that former President Cristina Kirchner’s cabinet failed to put forth honest numbers, forcing the National Statistics and Census Institute to withhold data pertaining to such matters as poverty and GDP. Argentina received a censure in 2013, by the International Monetary Fund for discrepancies in GDP numbers when compared to third-party data.