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EU Economies Allowed to Overshoot on Budgets as Brussels Retreats from Austerity
The European Commission slowed the pace of austerity on Wednesday by allowing six eurozone economies more time to meet its deficit targets. At the same time, the Commission warned...
Cuba Widens Public Internet Access – At A Cost
The Cuban government is creating an additional 118 public Internet access points, but users must still pay $4.50 an hour to surf the web, in a country where the...
Cyprus Bailout Deal Caused Mini Bank Run Across Eurozone: ECB
Cyprus’s controversial bailout in late-March may have caused the level of private bank deposits in most eurozone nations to drop the following month, showed European Central Bank data on...
IMF Lowers China Growth Forecast to 7.75%, Issues Warning on Debt
The International Monetary Fund has lowered the growth forecast for China for the second time in just six weeks, saying it expects growth to reach “around 7.75 percent” this...
Moody’s Upgrades US Banking Outlook to Stable as Economy Improves
Credit ratings agency Moody’s on Tuesday raised the U.S. banking sector outlook from negative to stable, a move that reflects continued improvement in the operating environment and reduced downside...
Kenyan MPs Vote To Raise Own Salaries Despite President’s Pleas
Kenyan lawmakers, already among the best paid in the world, voted on Tuesday to increase their current salaries by nearly 40 percent, overturning a pay cut ordered by the...
Switzerland May Pay US Authorities $10 Billion To Settle Tax Evasion Dispute
Members of the top echelon of the Swiss government, known as the Federal Council, are reportedly considering a proposal from the U.S. to pay a multi-billion fine and disclose...
Majority of EU States Oppose Chinese Solar Duties
Germany and the United Kingdom are among at least 14 European Union members who are opposed to punitive tariffs on Chinese solar panel imports, undermining aggressive attempts by Brussels...
Top US Diplomat Unveils $4bn Economic Peace Plan for Palestine
U.S. Secretary of State John Kerry on Sunday outlined a $4 billion private investment plan to spur growth in the West Bank, saying it could transform the lives of...
North Korea Relaxes State-Control Over Workers’ Salaries
The North Korean government last month introduced a new economic scheme that theoretically allowed companies to pay their workers more for better productivity, reported the Associated Press on Monday....


