International Monetary Fund

Venezuela abandons petrol subsidies as inflation set to hit one million per cent

President Nicolas Maduro said Monday that some of the world's cheapest petrol that Venezuelan drivers enjoy will soon be sold at world market prices to combat rampant smuggling.<p>"Gasoline must be sold at an international price to stop smuggling to Colombia and the Caribbean," Maduro said in a …

Venezuela

UN says an estimated 2.3 million people have fled Venezuela

An estimated 2.3 million Venezuelans had fled the crisis-wracked country as of June, mainly to Colombia, Ecuador, Peru and Brazil, the United Nations …

Venezuela

China Will Buy Turkey On The Cheap

Posted: Aug 14, 2018 11:25 AM<p>Like the fall of the Ottoman Empire after World War I, Turkey’s present financial collapse has been expected for years. …

Turkish Lira

The West cannot afford losing Turkey to Russia and Iran

Turkey's national currency, the lira, has tumbled by nearly 40% against the US dollar so far this year.<p>Relations between the two countries reached a low point on Friday, as US President Donald Trump approved the doubling of tariffs on Turkish steel and aluminium in response to Turkey's refusal to …

Opinion

Maduro to End Cheap Gasoline for All Venezuelans This Week

President Nicolas Maduro took to the airwaves Monday night to tell Venezuelan drivers that the days of being able to fill up their tanks with some of …

Venezuela

The Benefits of Cutting the Corporate Income Tax Rate

Key Findings<p>One of the most significant provisions of the Tax Cuts and Jobs Act is the permanently lower federal corporate income tax rate, which …

Income Inequality

Hundreds of scholars have signed a statement defending the international institutions that Trump has attacked

What are the arguments for and against the international institutions President Trump criticized in his trip to Europe in July and earlier? Forty-two scholars of international relations published a statement in the New York Times supporting the international order and the accompanying institutions …

Politics

This will be the richest place on the planet by 2020

This will be the richest place on the planet by 2020<p>Macau, the Chinese territory known as the Las Vegas of Asia, is all set to become the world’s …

Las Vegas

America Leapfrogged Other Countries in Tax Reform, and Economic Growth Is the Result

In February 2017, U.S. House Ways and Means Committee Chairman Kevin Brady remarked at a conference on international tax competition, “Our blueprint …

Economics

Pakistan at Seventy-One: the Search for a New Pakistan

On Pakistan's seventy-first independence day, the country faces an economic crisis and a terrorism crisis. Whether prime minister–designate Imran …

Pakistan

Breakingviews - Hadas: Turkey shows damage of fading world order

LONDON (Reuters Breakingviews) - Turkey’s currency crisis was easy to predict. What is more surprising is how weak the global response has been. The old world financial order is badly missed.<p>Turkish President Tayyip Erdogan makes a speech during a ceremony marking the second anniversary of the …

Andrew Brunson

Erdogan: Turkey can do without US electronic goods

Turkish President Recep Tayyip Erdogan has warned his country would boycott electronic goods from the United States in retaliation for recent …

Interest Rates

Lebanon's Hariri says government formation may take more time

BEIRUT (Reuters) - It may take Lebanese parties more time to form a coalition government, prime minister designate Saad al-Hariri said on Tuesday more than three months after the general election.<p>“Perhaps we need more time to arrive at a final formula,” he said to reporters before a meeting of …

South Asia

Turkish leader talks big, but can be pragmatic in crises

The man at the center of Turkey's currency crisis and feud with the United States — President Recep Tayyip Erdogan — is unleashing the same combative …

South Asia

Erdogan says Turkey will boycott US electronic goods, including Apple’s iPhone

Turkish President Recep Erdogan has said Turkey will boycott U.S. electronic goods, including Apple's flagship iPhone device.<p>Erdogan maintained an …

Andrew Brunson

The threat Turkey's crisis poses to the world

A dangerous mix of economic and political forces has triggered a crisis in Turkey and other emerging markets.<p>Turkey is just the latest developing economyto plunge into chaos. The Turkish lira has shed more than 40% since January, while the country's stock market has been cut in half.<p>The turmoil …

Markets

The in-flight Kiki challenge in Pakistan that did not land well for a foreign tourist

<b>Here’s what’s happening across the border: Six Mercedes Maybachs delivered to Prime Minister’s House; Sikh community celebrates Independence</b> …

Pakistan

Ethiopia’s Need for ‘Deep Renewal’

“Democracy is an existential issue for Ethiopia. There is no option,” says former Prime Minister Hailemariam Desalegn, “but …

Africa

Greece emerges from bailouts, but Greeks remain skeptical

Next Monday, Aug. 20, is a red-letter day for the European Union. It’s Bailout Exit Day for Greece. The eurozone’s most heavily indebted member state will formally leave the program of financial support set up initially in 2012 when the cash-strapped country found itself unable to borrow in the …

Europe

UPDATE 3-Argentina suspends cuts in soymeal, soyoil export taxes

(Recasts throughout; adds quote from head of soyoil industry chamber)<p>BUENOS AIRES, Aug 14 (Reuters) - Argentina has suspended for six months its program of gradually cutting taxes on exports of soymeal and soyoil, the Treasury Ministry said in a statement on Tuesday, part of the government’s fiscal …

Environmentalism

Sri Lanka gets USD 39 million military funding from US

By UNI<p>WASHINGTON D.C: In a move to counter China's increasing influence on Sri Lanka, the United States has announced that it would grant the Indian …

Asia

Calgary, Vancouver, Toronto among world’s most ‘liveable’ cities

Briefing highlights<p>Canada, Australia dominate rankings<br>• Don’t ignore Turkey’s crisis<br>• A Trump-Erdogan scene I’d love to see<br>• Markets at a glance<br>• Hydro One names new board<p>Liveability<p>Canada and Australia boast the world’s most liveable cities, according to a new ranking that puts Calgary, Vancouver and …

Top 10

Mobius Warns of ‘Real Possibility’ of Capital Controls in Turkey

There’s a “real possibility” Turkey will impose capital controls to stem the plunge in the lira, which would be bad for the whole developing-nation …

Stock Markets

Saudi oil money may give Elon Musk the private Tesla of his dreams

If Saudi Arabia ultimately does provide the multibillion dollar financing needed to take Elon Musk's Tesla car company private, it would represent the boldest move yet in the kingdom's campaign to build a post-oil future.<p>The Saudi Public Investment Fund, a sovereign wealth fund that manages about …

Tesla

Bank of Ghana plans to prosecute executives of failed banks

ACCRA (Reuters) - Ghana’s central bank plans to prosecute executives of failed local lenders suspected of dissipating depositors’ funds and insider dealing, the regulator told Reuters on Tuesday.<p>The Bank of Ghana on Aug. 1 said it had revoked the licenses of Unibank and smaller peers Royal Bank, …

Central Banks

Reporting on the Venezuelan experience in the Caribbean

<b>WikiTribune</b><b> will be reporting on the situation of some of the tens of thousands of Venezuelans who have settled in the southern Caribbean –</b> …

Venezuela

America’s Global Order Is Worth Fighting For

(This is the first installment of a series of columns on the threat to the U.S.-led liberal international order.)<p>The “liberal international order” is one of those phrases that means everything to people inside the Washington policy community and absolutely nothing to anyone outside of it.<p>After …

Opinion

Turkey’s trouble is only the tip of a spear aimed at the economy

The conventional wisdom sees decent growth this year. But several black swans are gathering that might trip up the optimists.

Economy

Why Turkey’s crisis doesn’t spell doom for all emerging-market currencies

Turkey’s currency crisis sent ripples through global financial markets, but analysts say it isn’t necessarily a death sentence for all …

Business

What the Turkish lira crisis means for President Erdogan’s hold on power

Erdogan built his supporter base by promising economic stability. Can he withstand a crisis?<p>The Turkish lira has lost nearly half of its value this …

Opinion (UK)