Economy

World wary of Taliban government as Afghans urge action on rights and economy

  • New Taliban government gets to work on Wednesday
  • Afghans urge leaders to address economic crisis, rights
  • Women protest again in Kabul after big rally on Tuesday

Sept 8 (Reuters) – Foreign countries greeted the makeup of the new government in Afghanistan with caution and dismay on Wednesday after the Taliban appointed hardline veteran figures to an all-male cabinet, including several with a U.S. bounty on their heads.

As the newly appointed ministers and their deputies set to work after they were named late on Tuesday, acting Premier Mohammad Hasan Akhund urged former officials who fled Afghanistan to return, saying their

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Europe’s central bank easing COVID-level economic support

The European Central Bank will dial back some of its massive emergency pandemic support for the economy amid signs of increasing business activity and consumer readiness to spend as the 19 countries that use the euro rebound from the coronavirus recession.

Bank head Christine Lagarde was careful to say the shift was only a “recalibration” of existing stimulus — not a signal that pandemic support is being phased out.

The bank’s 25-member governing council decided Thursday that it would conduct its bond purchase stimulus at “a moderately lower pace” than in recent months. Since March the statement has said that

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Opinion | Dollarization Is Helping the Collapsed Venezuelan Economy, for Now

An improvised dollar economy is also not completely immune to hyperinflation. Prices are still going up, and they’re even higher now that they’re set in dollars. This makes it hard for many Venezuelans to afford everyday items. Dilmary Rivas, a neighbor of Ms. Aguilar, earns the equivalent of $120 per month working as a house cleaner. Three years ago, this income was enough to buy three months’ worth of groceries — if she was lucky enough to find them after standing hours in line. Today, her weekly wages allow for just the basics: sugar, coffee, milk, corn flour, cheese, cooking

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Asian markets fall as Fed signals ‘downshift’ in economy

Shares fell in Asia on Thursday after further losses on Wall Street following a Federal Reserve report showing U.S. economic activity slowed this summer.

The report pointed to resurgent coronavirus cases and mounting supply chain problems and labor shortages — woes affecting many economies. Benchmarks fell in Tokyo, Hong Kong, Shanghai and Sydney.

Japan extended its emergency measures to combat COVID-19 outbreaks until the end of September, as numbers of new cases have been declining only slowly, straining the healthcare system.

Chinese markets have been chilled by further moves by the government to strengthen controls over online businesses that thrived

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In much of the world, economic policy is becoming tighter

INFLATION, IT IS often said, is a matter of too much money chasing too few goods. In many places that has been 2021 in a nutshell. Resurgent demand collided with insufficient supply, yielding inflation of 3% in the euro area, more than 4% in America and over 9% in Brazil. Such price pressures, together with early signs that economies would take off as lockdowns ended and more people were jabbed, led policymakers to set the course for scaling back emergency stimulus. In many places fiscal support is being withdrawn and central banks are either

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Let’s be clear on why the US economy is weakening (opinion)

On Monday, Goldman Sachs economists downgraded their projections for economic growth in 2021. (“The Delta variant is already weighing on Q3 growth,” wrote Goldman economist Ronnie Walker.)
August’s job growth was sluggish. The Delta variant continues to ravage the unvaccinated and sicken so many, with the country hitting the dark milestone of 40 million Covid cases. And about 1,500 Americans are dying every day — almost all of them not fully vaccinated.

The people who are refusing the vaccine and refusing to mask up aren’t just killing themselves and infecting their neighbors. They’re destroying the American economy.

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Biden’s historic food-stamp increase could hurt long-term economic growth, wages

The Biden administration’s massive food-stamp expansion, the largest permanent increase to benefits in the program’s history, could cut economic growth over the next decade, according to a new study published last week. 

Findings from the Penn Wharton Budget Model, a nonpartisan group at the University of Pennsylvania’s Wharton School, show the changes to the program will reduce GDP by 0.2% in the next 10 years. The negative impact becomes more pronounced in the future: By 2041, it will slash growth by 0.3%, and by 2051, the economy will

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U.S. economy appears to be softening due to Delta variant

The Delta variant of the coronavirus has muted the progress of the U.S. economic recovery from the COVID-19 pandemic, with consumers putting off some leisure spending and businesses delaying a return to normal operations, according to a number of reports that show softness in August.

Here’s how the latest outbreak is tempering the pace of recovery:

Airlines

The number of travelers moving through airport checkpoints has started to drop again.

On Tuesday, 1.47 million travelers took flights, the fewest in more than three months, according to Transportation Security Administration data. The seven-day average has declined to around 1.76 million passengers

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Ethiopia’s economy battered by Tigray war

Many Ethiopians are living in refugee camps in neighbouring Sudan because of conflict in their country

Ethiopia’s 10-month war has come at a huge human cost, with thousands killed, millions displaced and many in desperate need of assistance.

But that’s not the only damage being done to Africa’s second most populous nation – the war has incurred a huge economic cost, too, that could take years to repair.

In the capital Addis Ababa, 26-year-old Tigist, who didn’t want her full name to be used, says her monthly expenses have doubled for two reasons: the war that broke out in the

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Why the lack of workers? Blame lack of child care, COVID illnesses, and the economy reopening all at once.

Riddle me this: How is it that the economy is still down almost six million jobs from its peak before the pandemic struck, yet there is a record over 10 million open job positions?

It has arguably never been easier for workers to find jobs, or so difficult for businesses to find the workers they need. What gives, and how long will it continue?

The immediate explanation lies in the rapid reopening of the economy earlier this year as vaccinations became widely distributed and most of us more-or-less stopped sheltering in place. It seemed as if every business in

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