Currently browsing tag

Economic growth

The Trump Budget Is Based on Discredited Delusions

If Trump cared about increasing productivity and growth — rather than redistributing wealth upward — he would increase social spending, not cut it. The Trump administration has unveiled its vision for the federal budget — and that vision involves slashing more than $1 trillion from programs that aid low-income Americans …

Cuba sees economy shrink 1 percent despite detente with US

HAVANA (AP) — Cuba announced Tuesday that its economy shrank this year for the first time in nearly a quarter century as a plunge in aid from Venezuela overwhelmed a surge in tourism set off by detente with the United States. Economy Minister Ricardo Cabrisas and President Raul Castro told …

No chicken, no cafes: Egyptians scrimp as prices leap

CAIRO (AP) — Money had already been tight as food and electricity bills climbed for weeks. So Ashraf Mahrous, a 45-year-old civil servant, warned his wife, “Black days are ahead,” when Egypt floated its pound and hiked fuel prices this month. Mahrous is now looking for a side job. Rising …

Lacking powers, China’s legislature a venue for the wealthy

BEIJING (AP) — China’s take on parliamentary democracy kicked off its annual session Saturday to address national priorities at a time of slowing economic growth. Unlike legislatures elsewhere, China’s does little in the way of legislating, is carefully stage-managed and allows no foreign leader to address it. But like such …

Cheaper oil buoys consumers, hammers producers

DALLAS (AP) — Oil prices have been lower for longer than expected. Now, with OPEC’s decision to keep pumping at current levels, analysts expect oil to remain relatively cheap well into 2016 and maybe longer. That, of course, is good news for consumers and fuel-guzzling industries like airlines, but oil …