Economy

Economy Latest News

What is the state of play with Trump's tariffs?
What is the state of play with Trump's tariffs?
by  AFP

With sweeping tariffs on friend and foe, US President Donald Trump has roiled financial markets and sparked a surge in economic uncertainty -- and tensions are mounting days before a fresh volley of higher duties are due to kick in.

As US stocks hit records, experts see the dollar falling further
As US stocks hit records, experts see the dollar falling further
by  AFP

While the US stock market has fully recovered from a spring rout, the relentless drop in the dollar is prompting currency experts to warn of greater financial market turmoil ahead. According to the ICE US Dollar Index, a basket of seven currencies, the dollar fell 10.7 percent through the end of June, the biggest drop in the first six months of a year since 1973.

World Bank's IFC ramps up investment amid global uncertainty
World Bank's IFC ramps up investment amid global uncertainty
by  AFP

While the world economy faces instability from US President Donald Trump's threats of a global trade war, the International Finance Corporation (IFC) is dramatically ramping up its investment activities. The Washington-based IFC -- the World Bank's private sector arm -- mobilizes private capital and provides financing to support businesses across emerging economies.

Trump wins major victory as flagship bill passes Congress
Trump wins major victory as flagship bill passes Congress
by  AFP

US President Donald Trump on Thursday secured a major political victory when Congress narrowly passed his flagship tax and spending bill, cementing his radical second-term agenda and boosting funds for his anti-immigration drive.

UN expert says firms 'profiting' from 'genocide' of Palestinians
UN expert says firms 'profiting' from 'genocide' of Palestinians
by  AFP

UN rights expert Francesca Albanese on Thursday denounced companies she said "profited from the Israeli economy of illegal occupation, apartheid, and now genocide", in a report that provoked a furious response from Israel. - 'Profited from the violence' - Albanese told journalists she had contacted all 48 companies named in her report, entitled "From economy of occupation to economy of genocide".

South American bloc looks to Asia, Europe in face of Trump trade war
South American bloc looks to Asia, Europe in face of Trump trade war
by  AFP

South America's Mercosur bloc sought Thursday to expand its markets in the face of US President Donald Trump's global trade war, with Brazil calling for closer ties with dynamic Asian economies. Lula said that under his leadership, Mercosur would aim to "strengthen inter-bloc trade with external partners" and to implement a landmark trade agreement with the European Union.