Argentina is voting for legislative election – a key test for President Cristina Fernandez de Kirchner. The mid-term elections will determine how much control left-leaning Cristina Fernandez de Kirchner will have during the final two years of her presidency. Cristina Fernandez de Kirchner has been out of action during the campaign following emergency brain surgery… Continue reading Argentina parliamentary election 2013
Category: Economy & Politics
Economy and Politics news articles.
Georgia presidential election ends Mikheil Saakashvili’s rule
Georgians are going to the polls to vote for a new president, ending a decade in power for pro-Western President Mikheil Saakashvili. The frontrunner among the 23 candidates is Giorgi Margvelashvili – a close ally of PM Bidzina Ivanishvili, Mikheil Saakashvili’s bitter rival. Following the polls, constitutional amendments will significantly reduce presidential powers. Mikheil Saakashvili… Continue reading Georgia presidential election ends Mikheil Saakashvili’s rule
Madagascar holds first presidential election since 2009 coup
Madagascar voters are going to the polls in the first election since the military-backed coup in 2009. Thirty-three candidates are contesting the election, which has been postponed three times this year. Two front-runners are competing with a similar pledge to rebuild Madagascar’s economy after years of political and economic crisis. Over 92% of Madagascar’s 21… Continue reading Madagascar holds first presidential election since 2009 coup
Australia to raise debt ceiling by two-thirds
Australia plans to raise the country’s debt limit by two-thirds to allay concerns it could face a future fiscal crisis. The newly-elected conservative government is looking to raise the borrowing limit to A$500 billion ($486 billion). Australia is forecast to reach its current A$300 billion ceiling in December. Treasurer Joe Hockey said that he wanted… Continue reading Australia to raise debt ceiling by two-thirds
Turkey’s EU membership accession talks to restart in November
The EU has agreed to resume membership talks with Turkey. The European affairs ministers meeting in Luxembourg said the talks would restart on November 5th, after being stalled for three years. The EU had first agreed to re-launch negotiations in June, but postponed the talks after members criticized Turkey’s crackdown on anti-government protests. Turkey first… Continue reading Turkey’s EU membership accession talks to restart in November
US economy added 148,000 jobs in September 2013
According to latest official figures, the US economy added 148,000 jobs in September, lower than analysts had predicted. The unemployment rate fell to 7.2%, down from 7.3% in August, the US Department of Labor said. The release of the figures was delayed by the partial shutdown of the US government earlier this month. Economists had… Continue reading US economy added 148,000 jobs in September 2013
Cuba to eliminate dual-currency system in latest financial reform
Cuba has decided to eliminate its dual-currency system in the latest financial reform rolled out by President Raul Castro, official media report. Since 1994 Cuba has had two currencies, one pegged to the US dollar and the other worth only a fraction of that. The more valuable convertible peso (CUC) was reserved for use in… Continue reading Cuba to eliminate dual-currency system in latest financial reform
Barack Obama addresses glitches with Healthcare.gov
President Barack Obama has said there is “no excuse” for the glitches that have plagued the rollout of an element of his 2010 healthcare law. In a White House press conference, Barack Obama said that despite its problems, the website was delivering affordable coverage. Those attempting to sign up for health insurance have reported persistent… Continue reading Barack Obama addresses glitches with Healthcare.gov
Silvio Berlusconi banned from holding public office for two years
Italy’s former Prime Minister Silvio Berlusconi has been banned by Milan court from holding public office for two years, following his conviction for tax fraud. However, the ban must be approved by parliament before taking effect. Earlier this month, a cross-party panel of the Italian Senate recommended Silvio Berlusconi’s expulsion from the chamber. Silvio Berlusconi,… Continue reading Silvio Berlusconi banned from holding public office for two years
US shutdown: Federal government reopens for business
President Barack Obama has signed into law a bill to re-open the government and extend the debt ceiling, just hours after the House and Senate passed the measure with broad bipartisan support. Barack Obama said the measure would immediately restart federal programs that had been put on hold during the funding lapse. The world reaction… Continue reading US shutdown: Federal government reopens for business
US shutdown: Congress approves debt deal
The US government is to reopen after Congress has passed a bill to raise the federal debt limit, with hours to spare before the nation risked default. The Democratic-controlled Senate passed the measure by 81 votes to 18, and the Republican-controlled House of Representatives by 285 votes to 144. Despite reluctant support from the House… Continue reading US shutdown: Congress approves debt deal
US shutdown: Senate reaches debt deal
Democrat and Republican leaders of the Senate have struck a cross-party deal to end a partial government shutdown and raise the US debt limit. Their bill must also pass the House, where a small group of Republicans are expected to join Democrats to send the bill to President Barack Obama. The bill extends the federal… Continue reading US shutdown: Senate reaches debt deal
US shutdown: Democrats reject House Republicans proposal to reopen government
Democrats have rejected a proposal from House of Representatives Republicans to extend the debt limit and reopen the federal government. The White House criticized what it called an attempt to appease a small group of conservatives, but praised a parallel bipartisan Senate plan. The White House balked at the House’s proposed amendments to President Barack… Continue reading US shutdown: Democrats reject House Republicans proposal to reopen government
White House postpones bipartisan debt meeting
The White House has potsponed a meeting with Democrats and Republicans congressional leaders as lawmakers continue talks on raising the nation’s debt limit. The talks were to take place between President Barack Obama, Vice-President Joe Biden and leaders of the Senate and House of Representatives. The US government shutdown, also a result of the political… Continue reading White House postpones bipartisan debt meeting
China: Food prices fuel inflation in September 2013
China’s consumer prices rose more than forecast in September 2013, fuelled mainly by a surge in food prices. Prices rose 3.1% during September, from a year earlier, up from 2.6% in August, the National Bureau of Statistics said. The bureau said that food prices rose 6.1% from a year ago due to the impact of… Continue reading China: Food prices fuel inflation in September 2013
US shutdown negotiations shifted to Senate
The US shutdown negotiations have been shifted to the Senate. The Democratic and Republican leaders in the Senate held direct talks for the first time in weeks, but there is little sign of any breakthrough, correspondents say. The shutdown began when Congress missed the October 1st deadline to pass a budget. The US faces another… Continue reading US shutdown negotiations shifted to Senate
US shutdown: Barack Obama willing to sign short-term debt rise
President Barack Obama has announced he is willing to sign a “clean” short-term increase to the US borrowing limit that is free from Republican budget and policy demands. Barack Obama’s announcement came as the US is in the 11th day of a partial government shutdown. However, the Statue of Liberty, the Grand Canyon and Mount… Continue reading US shutdown: Barack Obama willing to sign short-term debt rise
House of Representatives Republicans meet Barack Obama amid looming debt crisis
Republicans in the House of Representatives have met President Barack Obama amid renewed efforts to avert a looming debt crisis. Both sides described the 90-minute meeting as useful but said no decision was made. They agreed to keep talking. Republicans have offered the president a short-term debt limit increase to stave off default. A new… Continue reading House of Representatives Republicans meet Barack Obama amid looming debt crisis
Wilfried Martens dies aged 77
Former Belgian Prime Minister Wilfried Martens has died aged 77. Wilfried Martens served nine times as prime minister of Belgium and later led the European Parliament’s main centre-right group. He died during the night at his home in Lokeren, in East Flanders, in the presence of his wife and children, Belgium’s Le Soir newspaper reports.… Continue reading Wilfried Martens dies aged 77
Barack Obama accuses Republicans of using extortion on debt limit
President Barack Obama has announced he is willing to hold budget talks with Republicans, but not until they agree to lift “threats” against the economy. Republicans “don’t get to demand ransom in exchange for doing their jobs”, Barack Obama said, by demanding concessions in policy before reopening government. The US government shut down last week… Continue reading Barack Obama accuses Republicans of using extortion on debt limit
Janet Yellen to be nominated as head of Federal Reserve
According to a White House official, President Barack Obama will nominate Federal Reserve Vice-Chair Janet Yellen to be the next head of the US central bank on Wednesday. If confirmed by the Senate, Janet Yellen would replace Ben Bernanke, who has held the post for eight years. Janet Yellen has been Ben Bernanke’s deputy for… Continue reading Janet Yellen to be nominated as head of Federal Reserve
IMF cuts global economic growth forecast
The IMF has cut its forecast for global economic growth at the same time as lifting its UK growth projection. The International Monetary Fund now expects global growth of 2.9% this year, a cut of 0.3% from July’s estimate. In 2014 it expects global growth of 3.6%, down 0.2%. It cited weakness in emerging economies… Continue reading IMF cuts global economic growth forecast
US shutdown: China warns US to agree debt deal
Chinese Vice Finance Minister Zhu Guangyao has warned that the “clock is ticking” to avoid a US default that could hurt China’s interests and the global economy. China, the US’s largest creditor, is “naturally concerned about developments in the US fiscal cliff”, Zhu Guangyao said. Washington must agree a deal to raise its borrowing limit… Continue reading US shutdown: China warns US to agree debt deal
Nicolas Sarkozy’s Bettencourt affair charges dropped
The criminal investigation into Nicolas Sarkozy for allegedly soliciting secret campaign financing from L’Oreal heiress Liliane Bettencourt has been dropped, French media say. France’s former President Nicolas Sarkozy has been left off a list of those to appear for trial over the “Bettencourt affair”, Le Monde reports. Nicolas Sarkozy had denied visiting Liliane Bettencourt –… Continue reading Nicolas Sarkozy’s Bettencourt affair charges dropped
Cristina Fernandez de Kirchner diagnosed with subdural hematoma
Cristina Fernandez de Kirchner has been ordered to take a month off work after bleeding was found on her brain. The 60-year-old Argentine president was undergoing medical checks for another condition when the bleeding – a subdural hematoma – was discovered. Vice-President Amado Boudou is flying back from France to take over her duties. Cristina… Continue reading Cristina Fernandez de Kirchner diagnosed with subdural hematoma