Thai voting has begun in five provinces that were unable to hold polls in last month’s general election because of anti-government protests. No disturbances have so far been reported in Sunday’s ballot. But the election commission said the situation was still too tense in many areas for polls to re-open. Thailand has been in a… Continue reading Thailand elections 2014: General poll voting resumes in five provinces
Category: Economy & Politics
Economy and Politics news articles.
Turkey to shut down Fethullah Gulen’s preparatory schools
The Turkish parliament has passed a bill to shut down private preparatory schools, many of which are run by influential preacher Fethullah Gulen. Fethullah Gulen is embroiled in a bitter feud with PM Recep Tayyip Erdogan, who has accused the US-based cleric of plotting against his government. The schools are a major source of income… Continue reading Turkey to shut down Fethullah Gulen’s preparatory schools
Cyprus bailout jeopardized by parliament vote against privatization plan
Cyprus’ parliament rejected a key part of the country’s bailout plan. As part of the 10 billion-euro ($13.7 billion) deal with the EU and International Monetary Fund (IMF), lawmakers have until March 5 to pass a bill allowing state firms to be privatized. On Thursday, the lawmakers threw it out, jeopardizing the next tranche of… Continue reading Cyprus bailout jeopardized by parliament vote against privatization plan
Ukraine’s parliament votes to remove President Viktor Yanukovych
Ukraine’s parliament has voted to oust President Viktor Yanukovych and hold early presidential elections on May 25. The vote came after the opposition seized several official buildings in the capital Kiev and parliament appointed high-level officials. Viktor Yanukovych described events as a “coup” and vowed not to stand down. Also on Saturday afternoon, prominent opposition… Continue reading Ukraine’s parliament votes to remove President Viktor Yanukovych
Yulia Tymoshenko released from jail
Ukraine’s former PM Yulia Tymoshenko has been freed from jail. It follows a vote by parliament to release her after President Viktor Yanukovych fled the capital Kiev. Speaking after her release, the Ukrainian opposition leader said “the dictatorship has fallen”. Yulia Tymoshenko was sentenced to seven years in jail in 2011 after a controversial verdict… Continue reading Yulia Tymoshenko released from jail
Matteo Renzi sworn in as Italy’s prime minister
A new Italian government led by Matteo Renzi has been sworn in Rome ceremony. Centre-left Matteo Renzi, 39, will be the youngest prime minister in Italy’s history, and one of its least experienced. Matteo Renzi, nicknamed Il Rottamatore (the Scrapper) rose to prominence as the mayor of Florence, but has never been elected to parliament… Continue reading Matteo Renzi sworn in as Italy’s prime minister
Yulia Tymoshenko to be freed as Ukraine’s parliament votes without president’s approval
In fast-moving events on Saturday, Ukraine’s parliament voted for opposition leader Yulia Tymoshenko to be released immediately. Former PM Yulia Tymoshenko was sentenced to seven years in prison in 2011 for abuse of power. Her supporters had always maintained this was simply Viktor Yanukovych taking out his most prominent opponent. Also in parliament, speaker Volodymyr… Continue reading Yulia Tymoshenko to be freed as Ukraine’s parliament votes without president’s approval
Lamido Sanusi: Nigeria’s central bank governor suspended over missing $20 billion
Lamido Sanusi – Nigeria’s central bank governor – has been suspended by the president pending investigations into “far-reaching irregularities”. Lamido Sanusi caused shockwaves in Nigeria when he alleged that $20 billion in oil revenue had gone missing. Nigeria’s state oil firm has denied failing to account for the money, saying the claim was “unsubstantiated”. Lamido… Continue reading Lamido Sanusi: Nigeria’s central bank governor suspended over missing $20 billion
Fed minutes confirms stimulus slowdown
The Federal Reserve will continue to cut economic stimulus measures, minutes of the US central bank’s January meeting have confirmed. The Fed’s policy makers said they expected to cut monthly bond-buying in predictable $10 billion steps. The central bank cut its bond-buying program to $65 billion a month at the end of its most recent… Continue reading Fed minutes confirms stimulus slowdown
Serge Dassault detained for questioning over alleged vote-buying
French billionaire and senator Serge Dassault has been detained for questioning over alleged vote-buying in a Paris suburb. Police are questioning the industrialist about his activities in Corbeil-Essonnes, where he was mayor between 1995 and 2009. The parliamentary immunity of Serge Dassault, 88, was lifted on February 12 at his own request, the French daily… Continue reading Serge Dassault detained for questioning over alleged vote-buying
Italy: Giorgio Napolitano asks Matteo Renzi to form new government
Matteo Renzi, the mayor of Florence, has been asked by President Giorgio Napolitano to form a new government in Italy. Enrico Letta resigned as prime minister on Friday, after he was ousted in a vote called by Matteo Renzi at a meeting of their centre-left Democratic Party. Matteo Renzi, who has never been elected as… Continue reading Italy: Giorgio Napolitano asks Matteo Renzi to form new government
Turkish parliament approves judicial reforms amid brawl
Turkish lawmakers have approved controversial plans to reform the country’s top judicial body, amid a brawl which left one opposition legislator with a broken nose. Turkish government wants the Supreme Board of Judges and Prosecutors – the HSYK – to come under justice ministry control. The bill was debated overnight amid heated scenes, with reports… Continue reading Turkish parliament approves judicial reforms amid brawl
Matteo Renzi set to become Italy’s prime minister
Matteo Renzi is expected to be offered to become Italian prime minister, as talks begin on forming a new government. Italy’s President Giorgio Napolitano is starting consultations following the resignation of Enrico Letta. Enrico Letta was ousted in a vote called by Florence mayor Matteo Renzi at a meeting of their centre-left Democratic Party. Matteo… Continue reading Matteo Renzi set to become Italy’s prime minister
Eurozone’s economy grows by 0.3% in Q4 2013
Eurozone’s economy grew by 0.3% in Q4 2013, up from 0.1% growth in the previous quarter. It was the third quarter of growth since the end of an 18-month recession, the longest period of contraction to affect the single currency area. The eurozone figures include 17 of the EU’s economies. Latvia became the currency zone’s… Continue reading Eurozone’s economy grows by 0.3% in Q4 2013
Greece unemployment rate reaches record high of 28% in November 2013
Greece’s unemployment rate reached a record high of 28% in November 2013, according to newly released government figures. The jobless rate increased from 27.7% in the previous month. For those under the age of 25, unemployment hit 61.4%. Harsh austerity measures have led the Greek economy to shrink by a quarter in four years. However,… Continue reading Greece unemployment rate reaches record high of 28% in November 2013
Telangana protest: Pepper spray fired in Indian parliament over new state bill
India’s lower house of parliament erupted in mayhem after a legislator used pepper spray to disrupt proceedings. The MP from the governing Congress party, L Rajagopal, was protesting against a plan to create the new state of Telangana in southern India. Some members had to be taken to hospital. L Rajagopal was suspended along with… Continue reading Telangana protest: Pepper spray fired in Indian parliament over new state bill
Thailand elections 2014: Constitutional court rejects opposition request to annul vote
Thai constitutional court has rejected an opposition request to annul the February 2 election, citing insufficient grounds. The Democrat Party had argued that the poll violated the constitution for several reasons, including that it was not completed in one day. The government blamed the delay on the opposition blocking polling stations. Thailand has been in… Continue reading Thailand elections 2014: Constitutional court rejects opposition request to annul vote
China’s trade surplus soars to $31.9 billion in January 2014
According to recent figures, China’s trade surplus jumped to $31.9 billion in January, easing concerns the world’s second-largest economy may be stuck in a slowdown. The figure was up 14% from a year earlier and stronger than forecasts for a $23.7 billion surplus. Imports rose by 10% from a year earlier to $175.27 billion –… Continue reading China’s trade surplus soars to $31.9 billion in January 2014
US debt limit: House votes to increase borrowing limit
The House of Representatives has passed an increase in the US government’s debt limit, after the Republicans gave up on their attempt to win concessions from the Democrats in return. The House voted 221-201 to waive the $17.2 trillion debt limit for just over a year, with only 28 Republicans joining most of the Democrats.… Continue reading US debt limit: House votes to increase borrowing limit
US economy adds only 113,000 jobs in January 2014
According to official figures, the US economy added 113,000 jobs in January, weaker than expected for a second consecutive month. Economists had predicted an increase of about 180,000 new jobs last month. However, the unemployment rate fell to 6.6%, the lowest level since October 2008, as more people began looking for work. The jobless figures… Continue reading US economy adds only 113,000 jobs in January 2014
Jack Lew: US default could happen by the end of month
Treasury Secretary Jack Lew has warned the US may default on its debt by the end of the month if Congress does not raise its borrowing limit. Jack Lew said he could rely on emergency measures to pay US debts after the limit is reinstated on February 7. But he anticipated the treasury’s reserves would… Continue reading Jack Lew: US default could happen by the end of month
EU corruption at a breathtaking extent
According to the European Commission, the extent of corruption in Europe is “breathtaking” and it costs the EU economy about 120 billion euros annually. EU Home Affairs Commissioner Cecilia Malmstroem is now presenting a full report on the issue. Writing in Sweden’s Goeteborgs-Posten daily, Cecilia Malmstroem said corruption was eroding trust in democracy and draining… Continue reading EU corruption at a breathtaking extent
Thailand elections 2014: Protesters block voting in parts of Bangkok and south
Thailand’s general election has been disrupted by protests with voting being halted in parts of Bangkok and the south, but officials say that 89% of polling stations operated normally. Some six million registered voters were affected by the closures, the Election Commission said. Prime Minister Yingluck Shinawatra called the vote to head off weeks of… Continue reading Thailand elections 2014: Protesters block voting in parts of Bangkok and south
Costa Rica presidential election 2014: Johnny Araya vs. Jose Maria Villalta
Costa Rica is voting to choose a successor to President Laura Chinchilla. The governing party’s Johnny Araya, a former mayor of San Jose, is expected to face strong opposition from left-wing candidate Jose Maria Villalta. Centre-left politician Luis Guillermo Solis is also seen as a contender. With many voters undecided, pollsters are predicting a tight… Continue reading Costa Rica presidential election 2014: Johnny Araya vs. Jose Maria Villalta
El Salvador presidential election 2014: Salvador Sanchez Ceren vs. Norman Quijano
El Salvador is voting to elect a new president. The main rivals are current Vice-President Salvador Sanchez Ceren of the left-wing FMLN party and Norman Quijano of the conservative Arena alliance. Neither is expected to win outright because a third candidate standing for a new independent party is likely to make a strong showing. The… Continue reading El Salvador presidential election 2014: Salvador Sanchez Ceren vs. Norman Quijano