Chinese economy’s growth forecast has been slightly cut by the World Bank, citing a “bumpy start to the year”. The World Bank now expects the Chinese economy to grow by 7.6% in 2014, down from its earlier projection of 7.7%. A slew of disappointing figures has triggered concerns of a slowdown in the world’s second-largest… Continue reading World Bank cuts China growth forecast from 7.7% to 7.6%
Category: Economy & Politics
Economy and Politics news articles.
Hungary elections 2014: Viktor Orban’s Fidesz wins second consecutive term
Hungary’s PM Viktor Orban has declared victory in Sunday’s parliamentary election, winning a second consecutive term. Viktor Orban’s centre-right Fidesz has polled 45%, with most of the votes counted. A centre-left opposition alliance is trailing with 25%, while the far-right Jobbik party is credited with 21%. The Hungarian left has never fully recovered from its… Continue reading Hungary elections 2014: Viktor Orban’s Fidesz wins second consecutive term
India elections 2014: Indians vote in world’s biggest poll
India has begun voting in the world’s biggest election, with the nine-phase ballot beginning on Monday and concluding on May 12. India ruling Congress party pitted against the Hindu nationalist BJP opposition. Votes will be counted on 16 May. More than 800 million Indians are eligible to vote in a poll dominated by corruption and… Continue reading India elections 2014: Indians vote in world’s biggest poll
Nigeria is Africa’s biggest economy following GDP rebasing
Nigeria has become Africa’s biggest economy after rebasing its GDP, leaving South Africa behind. Nigerian GDP (Gross Domestic Product) now includes previously uncounted industries like telecoms, information technology, music, online sales, airlines, and film production. GDP for 2013 totaled 80.3 trillion naira ($509.9 billion), the Nigerian statistics office said. That compares with South Africa’s GDP… Continue reading Nigeria is Africa’s biggest economy following GDP rebasing
Hungary elections 2014: Viktor Orban and Fidesz tipped to win another term in office
Hungary’s PM Viktor Orban and his right-wing Fidesz party are seeking another term in office in elections on Sunday. Fidesz is expected to win between 45 and 50% of the vote, polls suggest. The centre-left opposition is facing a close race for second place with the far-right Jobbik party. The Hungarian left has never fully… Continue reading Hungary elections 2014: Viktor Orban and Fidesz tipped to win another term in office
Afghanistan elections 2014: More than 7 million people voted in presidential poll
More than 7 million people out of an estimated eligible 12 million voted in Afghanistan’s election for a new president, the country’s electoral commission says. It is Afghanistan’s first transfer of power via the ballot box. There are reports of ballot paper shortages and sporadic violence from across the country. Eight candidates are seeking to… Continue reading Afghanistan elections 2014: More than 7 million people voted in presidential poll
Darth Vader’s bid for Ukraine’s presidency rejected
Darth Vader’s bid for Ukraine’s presidency has been rejected. The man, who appears in the costume of Darth Vader and is often accompanied by people dressed in other Star Wars outfits, was nominated for the presidency by the Internet Party of Ukraine. Earlier he told the party’s congress that he wanted to turn Ukraine into… Continue reading Darth Vader’s bid for Ukraine’s presidency rejected
Thailand: Red Shirts warn of civil war threat
Thailand’s pro-government Red Shirt movement has warned that any attempt to oust PM Yingluck Shinawatra could trigger a civil war. The movement’s leaders issued the warning at a rally outside Bangkok – the first staged by the Red Shirts near the capital since violent clashes broke out in November. Opponents of Yingluck Shinawatra and her… Continue reading Thailand: Red Shirts warn of civil war threat
Afghanistan elections 2014: First democratic transfer of power amid tight security
Afghanistan is voting for a new president in what will be the nation’s first ever transfer of power through the ballot box. A massive security operation is under way to thwart the Taliban which has vowed to disrupt the election. Eight candidates are vying to succeed Hamid Karzai, who is barred by the constitution from… Continue reading Afghanistan elections 2014: First democratic transfer of power amid tight security
US economy gains 192,000 jobs in March 2014
The US economy added 192,000 new jobs in March 2014, in line with expectations, as the unemployment rate held steady at 6.7%. Severe weather over the winter did not prevent the monthly average for new jobs from continuing a climb towards pre-economic crisis levels. Employment grew in health care, and professional and business services, and… Continue reading US economy gains 192,000 jobs in March 2014
US campaign donation limits annulled by Supreme Court
The US Supreme Court has struck down overall donor limits for political campaigns. The court ruled 5-4 that individuals could give to candidates, parties and political groups without observing an overall cap of $123,200. The ruling leaves in place limits on how much donors can give to a single candidate – currently $2,600. The decision… Continue reading US campaign donation limits annulled by Supreme Court
Segolene Royal joins France’s new government as environment minister
Segolene Royal, President Francois Hollande’s ex-partner and the mother of his four children, has joined France’s new government in a major reshuffle by the ruling Socialists. Segolene Royal, 60, will serve as environment minister in the cabinet of new Prime Minister Manuel Valls. Manuel Valls was appointed prime minister after the Socialists suffered a humiliating… Continue reading Segolene Royal joins France’s new government as environment minister
Greece to receive 8.3 billion euro bailout in three installments
Greece is to receive its next 8.3 billion euro ($11.4 billion) bailout in three installments, eurozone finance ministers have announced. A first tranche of 6.3 billion euros will be paid at the end of April, Eurogroup chairman Jeroen Dijsselbloem said at a meeting of finance ministers in Athens. Two more payments of 1 billion euros… Continue reading Greece to receive 8.3 billion euro bailout in three installments
Obamacare sign-up ends with massive surge
The Obamacare enrollment period ended midnight Monday with hundreds of thousands of Americans signing up for insurance under Barack Obama’s healthcare program, in a frantic bid to beat a key deadline. Officials believe they have reached their target of seven million sign-ups. March 31 was the last day for most Americans to register for coverage… Continue reading Obamacare sign-up ends with massive surge
Turkey local elections 2014: Recep Tayyip Erdogan claims personal victory
Turkish PM Recep Tayyip Erdogan has claimed victory for his party in local elections, and vowed that his enemies would “pay the price”. Recep Tayyip Erdogan’s government has been accused of authoritarianism and corruption after a string of scandals. The local elections, the first vote since mass protests last June, were seen as a barometer… Continue reading Turkey local elections 2014: Recep Tayyip Erdogan claims personal victory
Holyland affair: Israel’s former PM Ehud Olmert convicted of bribery
Former Israeli PM Ehud Olmert has been convicted of bribery in a case which forced him to resign to office in 2008. Ehud Olmert was convicted in what is known as the “Holyland affair” in which bribes were paid and received to speed up a luxury property development. The 68-year-old former prime minister has already… Continue reading Holyland affair: Israel’s former PM Ehud Olmert convicted of bribery
Turkey local elections 2014: Recep Tayyip Erdogan’s party takes strong lead
Recep Tayyip Erdogan’s party has taken a strong lead in Turkey’s local elections. The polls are being seen as a key test for PM Recep Tayyip Erdogan ahead of presidential elections in August and parliamentary elections in 2015. It is the first vote since mass protests last June, and subsequent government corruption scandals. Recep Tayyip… Continue reading Turkey local elections 2014: Recep Tayyip Erdogan’s party takes strong lead
France local elections 2014: Francois Hollande’s socialists suffer big losses
Francois Hollande’s socialists have suffered big losses in France’s municipal elections, according to early results. The opposition UMP claims victory and the far right National Front (FN) celebrates further gains. UMP leader Jean-Francois Cope hailed what he called a “blue wave” of support for his centre-right party. Marine Le Pen’s FN was heading for victory… Continue reading France local elections 2014: Francois Hollande’s socialists suffer big losses
Cuba backs new foreign investment law
Cuba’s National Assembly has passed a new foreign investment law on Saturday that aims to make the Communist-run island more attractive to foreign businesses. The law slashes taxes on profits from 30% to 15% and gives new investors eight years of exemption from paying taxes. The change is seen as a key part of President… Continue reading Cuba backs new foreign investment law
Turkey local elections 2014: Recep Tayyip Erdogan faces popularity test
Turkey is voting in municipal elections that analysts say could determine the political future of PM Recep Tayyip Erdogan. They are the first elections since mass protests erupted last June and a corruption scandal hit the government. Recep Tayyip Erdogan is not standing but has campaigned tirelessly in support of his Justice and Development Party… Continue reading Turkey local elections 2014: Recep Tayyip Erdogan faces popularity test
Andrej Kiska wins Slovakia’s presidential election
Andrej Kiska has won Slovakia’s presidential election, despite having no previous political experience. Tycoon Andrej Kiska, standing for office for the first time, defeated current PM Robert Fico in the second round of voting. Early poll counts suggested Andrej Kiska had gained about 60% of the vote. Andrej Kiska’s victory stopped Robert Fico’s social democrats… Continue reading Andrej Kiska wins Slovakia’s presidential election
Vitaly Klitschko pulls out of Ukraine’s presidential elections
Former boxing champion and leading politician Vitaly Klitschko has pulled out of Ukraine’s presidential elections planned in May. Vitaly Klitschko said instead he would back tycoon Petro Poroshenko. Both men played a key role in months of street protests that led to the ousting of President Viktor Yanukovych. Vitaly Klitschko, 42, announced his decision to… Continue reading Vitaly Klitschko pulls out of Ukraine’s presidential elections
Obamacare: Six million people sign up for medical insurance
President Barack Obama has announced six million people have signed up for medical insurance under his healthcare law – dubbed Obamacare – meeting the administration’s goal. The White House’s initial goal was seven million, but this was revised amid last autumn’s disastrous launch. Public support for the Obamacare is at its lowest – 26% of… Continue reading Obamacare: Six million people sign up for medical insurance
El Salvador elections 2014: Norman Quijano admits presidential vote defeat
Norman Quijano, the candidate of El Salvador opposition party, Arena, has accepted defeat in the presidential election held on March 9, after losing several appeals for a recount. The Arena party says it will make “democratic, serious and honest” opposition to the new president, former rebel leader Salvador Sanchez Ceren. Norman Quijano lost the vote… Continue reading El Salvador elections 2014: Norman Quijano admits presidential vote defeat
Patrick Cannon: Charlotte mayor resigns after corruption arrest
Patrick Cannon, the mayor of Charlotte, North Carolina, has resigned on Wednesday night after only 114 days in office. Patrick Cannon, 47, was arrested on federal corruption charges that allege he accepted tens of thousands of dollars from undercover agents, at least once in the mayor’s office itself. “I regret that I have to take… Continue reading Patrick Cannon: Charlotte mayor resigns after corruption arrest