Prabowo Subianto, Indonesia’s presidential candidate and defense minister, center, waves to supporters in Jakarta, Indonesia, on Wednesday, Feb. 14, 2024. Prabowo declared victory in Wednesday’s presidential vote, citing independent pollsters, putting him on course to lead Southeast Asia’s largest economy after two failed attempts. Bloomberg | Bloomberg | Getty Images JAKARTA — Indonesia’s Defense Minister … Read more
ABUJA, Nigeria — Nigerians are facing one of the West African nation’s worst economic crises in years triggered by surging inflation, the result of monetary policies that have pushed the currency to an all-time low against the dollar. The situation has provoked anger and protests across the country. The latest government statistics released Thursday showed … Read more
Germany’s last remaining major department store chain has filed for insolvency protection, its third filing in less than four years, after its owner ran into difficulties BERLIN — Germany’s last remaining major department store chain filed for insolvency protection on Tuesday, its third filing in less than four years, after its owner ran into difficulties. … Read more
BUENOS AIRES, Argentina — Thousands of union members and activists took to the streets of Argentina’s capital Wednesday to protest a decree from President Javier Milei that imposes sweeping deregulation and austerity measures meant to revive the country’s struggling economy. Unions had asked a court for a prior injunction to block measures lifting some labor … Read more
LONDON — Angola announced Thursday that it’s leaving the OPEC oil producers cartel, coming after it battled with the group over lower production quotas this year. Diamantino de Azevedo, the African nation’s oil minister, said Angola “does not gain anything by remaining in the organization,” according to state news agency Angop. The country joined OPEC … Read more
A pedestrians at a bus station in Vientiane, Laos, on Saturday, June 24, 2023. Valeria Mongelli | Bloomberg | Getty Images An alarming debt crisis has unfolded in Laos in recent years, raising worries about the tiny nation’s obligation to its biggest creditor — China. China became the largest foreign investor in Laos in late … Read more
LONDON — The Bank of England kept its main interest rate unchanged on Thursday at the 15-year high of 5.25% and indicated that borrowing costs will likely remain at these sort of elevated levels for a while, especially if oil and gas prices increase sharply because of the Israel-Hamas war. In a statement, the bank’s … Read more
LONDON — The Russian ruble on Monday reached its lowest worth for the reason that early weeks of the conflict in Ukraine as Moscow will increase navy spending and Western sanctions weigh on its vitality exports. It led Russia’s central financial institution to announce an emergency assembly for Tuesday to evaluation its key rate of … Read more
Indonesian President Joko Widodo makes a speech throughout the Affiliation of Southeast Asian Nations (ASEAN) Overseas Minister’s Assembly in Jakarta, Indonesia on July 14, 2023. Murat Gok | Anadolu Company | Getty Photos A brand new regional cross-border fee system not too long ago applied by Southeast Asian nations might deepen monetary integration amongst members, … Read more