Economy NewsRSS

Italian lawmakers plan free Wi-Fi to bridge digital gap with Europe
MILAN (Reuters) - Italian lawmakers have put forward a proposal for free Wi-Fi in thousands of public places to bridge a gap with other European countries in broadband penetration, e-government and other digital services that is dragging on the economy. Under the plan, large shops, taxis, airports, law courts and other public places would have to set up an Internet connection and offer no-password wireless access free. "We are really badly placed when it comes to Internet access," Sergio Boccadutri, a member of the ruling Democratic Party and sponsor of the proposal, said. ...
10/25/2014 12:44 PM

Kuwait urges Gulf reforms as oil prices fall

Kuwait has a production capacity of over 3.2 million bpd and pumps most of its exports from the Al-Ahmadi refinery, just north of Al-ShuaibaKuwait's finance minister on Saturday called for economic reforms by energy-dependent Gulf states to cope with a drop in oil prices that has hurt their public finances. Saleh said the Gulf states must diversify their economies and "reduce dependence on oil". "Implementing these policies has become inevitable," Saleh told the meeting, which International Monetary Fund managing director Christine Lagarde was also attending. Forecasts indicate a healthy economic growth for the six nations of the Gulf Cooperation Council (GCC) averaging 4.5 percent in 2014-2015, Saleh said.


10/25/2014 12:25 PM

In rural Tunisia, economic malaise weighs on voters

A woman walks past parliamentary election posters in KasserineBy Tarek Amara KASSERINE Tunisia (Reuters) - In the western Tunisian city of Kasserine, campaign posters plastered on walls make plain what many voters want from Sunday's parliamentary election -- jobs, whose scarcity has fueled unrest and militancy. Alongside portraits of would-be lawmakers and party logos, scores of young people have posted resumes, hoping to land job offers to lift them out of the economic malaise that has troubled Tunisia's democratic evolution. Unemployment in the olive and fruit farming region bordering Algeria is almost double the national 15 percent. ...


10/25/2014 10:10 AM

Ebola death toll tops 4,900 as virus spreads - WHO

Health worker in protective equipment carries a sample taken from the body of someone who is suspected to have died from Ebola virus, near Rokupa HospitalBy Stephanie Nebehay GENEVA (Reuters) - The death toll from the Ebola epidemic rose to 4,922 out of 10,141 known cases in eight countries through Oct. 23, the World Health Organization (WHO) said on Saturday. The virus, which reached Mali through a two-year-old girl who died on Friday, now threatens Ivory Coast, having infected people virtually all along its borders with Guinea and Liberia. Ivory Coast is the world's biggest cocoa producer. The Ebola outbreak has hurt the economic growth that has been raising living standards in the region. ...


10/25/2014 08:49 AM

China's top graft-buster says fight will never end

Former China's Politburo Standing Committee Member Zhou Yongkang attends the closing ceremony of the NPC in BeijingBEIJING (Reuters) - China's fight against deeply ingrained corruption will never end, the top official in charge of tackling graft said before a meeting intended to clean up business in the world's second-largest economy. Since President Xi Jinping launched his high-profile campaign against corruption upon assuming office last year, senior officials including powerful former domestic security chief Zhou Yongkang have been removed from their posts and put under investigation. ...


10/25/2014 08:26 AM

Greece's anti-bailout party leads conservatives in latest poll

Greece's main opposition Syriza party leader Tsipras addresses lawmakers before a confidence vote for the country's coalition government in AthensATHENS (Reuters) - Greece's radical leftist Syriza party would beat Prime Minister Antonis Samaras's conservatives if an election were held now but its lead has slipped from last month, an opinion poll showed on Saturday. Syriza, ahead by 8.5 percentage points, is deeply opposed to the international bailout that helped Athens avoid a debt default in return for tough measures to repair its finances and make its economy more competitive. ...


10/25/2014 06:58 AM

S&P downgrades Ghana one notch over high fiscal deficit

A view shows the Standard & Poor's building in New York's financial districtBy Matthew Mpoke Bigg ACCRA (Reuters) - Standard & Poor's downgraded Ghana's sovereign rating by one notch on Friday citing concerns about the cost of financing the country's high fiscal deficit and doubts about whether the government can reduce it quickly enough. The decision to lower the rating to "B-" with a stable outlook from "B" with a negative outlook appears to contradict government comments about the impact of a possible deal with the International Monetary Fund to stabilise the economy. ...


10/25/2014 04:09 AM

Europe's bank test aims to strengthen economy

President of the European Central Bank Mario Draghi arrives on the second day of an EU summit in Brussels, on Friday, Oct. 24, 2014. EU leaders gather for a two-day summit in which they discuss Ebola, climate change and the economy. (AP Photo/Yves Logghe)FRANKFURT, Germany (AP) — The European Central Bank on Sunday will reveal the results of a yearlong search through the books of Europe's 130 biggest banks, a key part of the region's effort to recover from its debt and economic crisis.


10/25/2014 03:14 AM

India's finance minister favors interest rate cut: paper

India's Finance and DM Jaitley arrives to attend a meeting with the finance ministers of Indian states on GST issues in New DelhiNEW DELHI (Reuters) - India's Finance Minister Arun Jaitley favors a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the central bank has signal it will not ease policy until it is confident of lower inflation. In May, Prime Minister Modi was elected on promises that his government would create jobs and rejuvenate the Indian economy, but experts were disappointed by Jaitley's first budget and a lack of early progress on fixing structural economic problems. "Currently, interest rates are a disincentive. ...


10/25/2014 02:43 AM

Renault chief sees Europe auto market slowing in 2015

French President Francois Hollande is shown the inside of a newly presented Renault Espace by CEO of Nissan-Renault Carlos Ghosn (R) during an official visit to the Paris Motor Show on October 03, 2014French carmaker Renault chairman, Carlos Ghosn, said Saturday that he expects slower growth in Europe's auto market next year as it continues to recover from the global economic crisis. Ghosn, who is also Renault's chief executive officer, said the European market was growing at six percent so far this year -- the best since the 2007 crisis. "I'm expecting in 2015 this recovery to continue," Ghosn told journalists on the sidelines of an industry forum in China's commercial hub Shanghai. I think the increase will probably be more moderate than six percent... in line with GDP (gross domestic product) growth," he said, but gave no estimates for Renault alone.


10/25/2014 02:42 AM

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