Category: News Desk

DRC President Considers Staying Beyond Official Mandate


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.

WTO Calls UAE a Global Trade Hub; Praises Economic Policies


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.

U.S. Job Market Suffers a Disaster


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.

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


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.

New Thinking needed to Finalize Jordan, IMF Deal


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.

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


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.

Angolan President Appoints Daughter as Head of National Oil Company


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.

IMF Says Venezuela Will Suffer 750% to 1200% Inflation


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%.

Manufacturing Crashes to Crisis-Level Lows


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.

Armenia Loses Foreign Investment: Debt Burden Increases


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. Armenia is a poor nation that struggles with high rural poverty and increasing unemployment rates.