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US weekly jobless claims at three-month high as COVID-19 restrictions bite
Dec 18, 2020 02:03The number of Americans filing first-time claims for jobless benefits unexpectedly rose last week as a relentless wave of new COVID-19 infections hobbled business operations, offering more evidence that the economy’s recovery from the pandemic recession was faltering.
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Iran, Afghanistan inaugurate joint railway project
Dec 10, 2020 09:45A joint railway project linking eastern Iran to western Afghanistan was inaugurated on Thursday with presidents of the two neighboring countries delivering remarks through video-conference and expressing hope it will enhance trade links across the region.
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Exchange rates have been stable in COVID crisis – are we heading for a storm?
Nov 20, 2020 16:27The second wave of the coronavirus is currently hitting Europe harder than the US, but this pattern may soon reverse as winter sets in, particularly if America’s post-election interregnum paralyses both health and macroeconomic policy. And although officials claim the US still has capacity to provide much-needed disaster relief to hard-hit workers and small businesses, the growing share of US public and corporate debt in global markets suggests longer-term fragilities.
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Global debt rose sharply in first 9 months of 2020 amid pandemic
Nov 19, 2020 12:16Global debt increased at a breakneck pace in the first nine months of the year as governments and companies continue to spend in response to the COVID-19 pandemic, new research shows.
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China working to expand ties with Latin America
Nov 18, 2020 14:11Over the past two decades, China has emerged as one of the most important markets for Latin American countries. China has developed three distinct pillars for its policy on Latin America: purchases of Latin American goods, Chinese investment in Latin America, and Chinese political solidarity with key Latin American governments.
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Iran, Russia-led trade bloc push regional convergence
Nov 17, 2020 11:32Representatives of the Eurasian Economic Union (EAEU), a trade bloc with an integrated market of 180 million people, are attending a conference in Iran’s port city of Anzali on the Caspian Sea to enhance regional convergence in economic and transit relations.
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Trump administration unveils move to crack down on US investments in Chinese firms
Nov 13, 2020 04:51The administration of President Donald Trump has unveiled an executive order banning US investments in Chinese firms that Washington says are owned or controlled by the Chinese military.
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Trump freezes wages of farmworkers following election day
Nov 12, 2020 15:44Just days after U.S. voters went to the polls, the Trump administration issued a little-noticed rule freezing the wages of farm laborers working under H-2A visas, a move that could severely harm low-wage guest workers who have already been hit hard by the coronavirus pandemic.
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Billions locked in troubled Lebanese banks behind economic crisis: Syrian President
Nov 05, 2020 09:37Syrian President Bashar al-Assad has blamed the financial downfall in neighboring Lebanon and not the sweeping US sanctions as the root cause of the ongoing economic crisis in the war-torn country.
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Billionaires now collectively hold a record-breaking $10 trillion in wealth
Oct 20, 2020 18:14Billionaire wealth increased to $10.2 trillion through the end of July, setting a new record amid the coronavirus pandemic even as millions of unemployed people fall into poverty.