Costa Rica announces win against Canadian gold miner over cancelled concession
Costa Rica said on Monday that an international tribunal had ruled in its favor in a dispute with Canadian mining company Infinito Gold over the 2010 cancellation of a gold concession on environmental grounds. “The government of the republic is…
Chinese e-commerce companies popular in South Africa
Johannesburg — Rotondwa Mbadaliga is a self-professed “shopping addict.” The 25-year-old South African fashion influencer says she is a huge fan of Chinese-linked e-commerce companies Shein and Temu because she can get the latest trends at the cheapest…
Cash-starved Pakistan acquires $7 billion IMF loan
ISLAMABAD — Pakistan said Saturday that a newly secured multibillion-dollar loan from the International Monetary Fund would help improve the cash-starved country’s macroeconomic stability. The official reaction came hours after the Washington-based global lender announced its preliminary agreement with Islamabad…
US consumer inflation eases to 3.0% in June
Washington — U.S. inflation edged down in June as analysts expected, government data showed Thursday, a reassuring development for President Joe Biden as he fights to win confidence on his economic record in his reelection bid. The consumer price index…
US Federal Reserve’s Powell reminds lawmakers of Fed’s dual mandate
The head of the Federal Reserve reminded U.S. lawmakers Wednesday that the Fed operates under a dual mandate. “We’re not just an inflation-targeting central bank,” Jerome Powell told the House Financial Services Committee, “we also have an employment mandate.” Congress…
Namibia struggles with growing seal population that threatens fishing industry
Windhoek, Namibia — Namibia will attempt to reduce the local seal population by 80,000 this year, officials recently announced, despite opposition from animal rights groups. The Ministry of Fisheries and Marine Resources said the reduction is necessary to maintain balance…
Kenyan president warns of huge consequences over debt plan failure
NAIROBI, Kenya — The ballooning debt in East Africa’s economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President William Ruto said was needed to raise revenue. He…
Burkina Faso’s internally displaced scramble to make a living
Burkina Faso is home to many people internally displaced by years of insecurity and conflict. Most of them live in various towns across the country, and some are now trying to find jobs in the capital, Ouagadougou, or starting businesses….
Federal Reserve’s Powell says US making ‘modest’ progress on inflation
Washington — The U.S. Federal Reserve is making “modest” progress in its inflation fight, the head of the U.S. central bank told lawmakers Tuesday, on the first of two days of testimony in Congress. When prices surged in the wake…
Kenyan president bows to pressure, makes major concessions
Nairobi, Kenya — Kenyan President William Ruto on Friday ordered significant cuts in the federal budget along with other government reforms to pay off a crushing debt burden in a move seen as a concession to popular disapproval of a…