Japanese markets show a little change after PM Shinzo Abe was given a vote of confidence for his economic policy known as “Abenomics”. As widely predicted, Shinzo Abe has won a majority in parliament’s upper house in Sunday’s elections, according to exit polls. After climbing 1.2% in early trading, the benchmark Nikkei 225 fell back… Continue reading Tokyo stocks flat on Shinzo Abe elections win
Category: Economy & Politics
Economy and Politics news articles.
Japan votes in upper house elections
Japan is voting in upper house elections expected to deliver a win for Prime Minister Shinzo Abe. Half of the 242 seats in the chamber are being contested. Polls show Shinzo Abe’s Liberal Democratic Party (LDP) and its allies could secure a majority, meaning a ruling party would control both houses of parliament for the… Continue reading Japan votes in upper house elections
Alexei Navalny vows Moscow mayoral poll win after being freed from jail
Russian activist Alexei Navalny has told supporters he will fight and win the Moscow mayoral vote, after he was freed from jail pending an appeal against a five-year jail term. Alexei Navalny has returned to Moscow from Kirov, where a judge convicted him of embezzlement, in a case widely condemned as political. The court ruled… Continue reading Alexei Navalny vows Moscow mayoral poll win after being freed from jail
Venezuela says it ends steps towards restoring diplomatic ties with US after Samantha Power’s comments
Venezuela announces it has “ended” steps towards restoring diplomatic ties with the US, after comments made by Samantha Power, who was nominated as the next envoy to the UN. Samantha Power said this week she would seek to combat what she called the “crackdown on civil society” in countries including Venezuela. She was speaking at… Continue reading Venezuela says it ends steps towards restoring diplomatic ties with US after Samantha Power’s comments
Alexei Navalny freed on bail with travel restrictions following Russian protests
Russian activist Alexei Navalny has been freed from jail pending an appeal, a day after being sentenced to five years for embezzlement. The court ruled that keeping Alexei Navalny in custody would deprive him of his right to stand in the mayoral elections in Moscow in September. Thousands of Russians had protested against Alexei Navalny’s… Continue reading Alexei Navalny freed on bail with travel restrictions following Russian protests
Egypt: Hazem al-Beblawi’s interim cabinet sworn in
Egypt’s interim government has been sworn in, with army chief General Abdel Fattah al-Sisi, who led the ousting of President Mohamed Morsi, becoming deputy PM as well as defense minister. Hazem al-Beblawi is the new prime minister, under the interim President Adly Mansour. The swearing in followed another night of violence between security forces and… Continue reading Egypt: Hazem al-Beblawi’s interim cabinet sworn in
Spain: PM Mariano Rajoy faces renewed calls to resign over texts sent to Luis Barcenas
Spanish PM Mariano Rajoy is facing renewed calls to resign after El Mundo newspaper published text messages allegedly linking him to Luis Barcenas, the man at the centre of a secret payments scandal. The El Mundo report said Mariano Rajoy sent words of support to Luis Barcenas, former treasurer of the governing Popular Party (PP).… Continue reading Spain: PM Mariano Rajoy faces renewed calls to resign over texts sent to Luis Barcenas
China’s economic growth slows again in Q2 2013
China’s economic growth slowed in Q2 2013, the second straight quarter of weaker expansion. The world’s second biggest economy grew by 7.5% in the April to June period compared to the previous year, down from 7.7% in the January to March period, data showed. The figures were in line with analyst expectations. After decades of… Continue reading China’s economic growth slows again in Q2 2013
Egypt: Newly appointed PM Hazem al-Beblawi begins forming new cabinet
Hazem al-Beblawi, Egypt’s newly appointed prime minister, is beginning work on forming a new cabinet, a week after the army ousted President Mohamed Morsi. Hazem al-Beblawi is expected to offer posts to Mohamed Morsi’s Islamist Muslim Brotherhood, although it has refused to co-operate with what it says it a coup. The main liberal coalition has… Continue reading Egypt: Newly appointed PM Hazem al-Beblawi begins forming new cabinet
El Mundo: PM Mariano Rajoy and other top Spanish politicians received illicit payments in Barcenas affair
Spanish newspaper El Mundo has published what it alleges are documents showing PM Mariano Rajoy and other top politicians received illicit payments. El Mundo said it had original ledger entries handwritten by the former treasurer of the governing Popular Party (PP), Luis Barcenas. It said it had delivered the documents to the High Court. Mariano… Continue reading El Mundo: PM Mariano Rajoy and other top Spanish politicians received illicit payments in Barcenas affair
Adly Mahmud Mansour: Mohamed ElBaradei not yet appointed as Egypt’s interim PM
Egypt’s new president, Adly Mahmud Mansour, says pro-reform leader Mohamed ElBaradei has not yet been appointed as interim prime minister despite earlier reports. A spokesman for interim President Adly Mansour said consultations were continuing. Officials had earlier named Mohamed ElBaradei – a former head of the UN’s nuclear watchdog – for the post. News of… Continue reading Adly Mahmud Mansour: Mohamed ElBaradei not yet appointed as Egypt’s interim PM
Mohamed ElBaradei named as Egypt’s interim prime minister
Prominent opposition leader Mohamed ElBaradei has been named as Egypt’s interim prime minister. Mohamed ElBaradei was appointed following crisis talks led by President Adly Mahmud Mansour – three days after the army removed Islamist leader Mohamed Morsi amid growing nationwide unrest. The move has in turn triggered mass unrest by supporters of Mohamed Morsi. Mohamed ElBaradei… Continue reading Mohamed ElBaradei named as Egypt’s interim prime minister
US economy added 195,000 new jobs in June
According to official figures, the US economy added a net 195,000 new jobs in June. The figure was well above economists’ expectations of 165,000. Revisions to data for April and May added a further 70,000 jobs to previous estimates. The jobless rate remained steady at 7.6% of the workforce, according to the data from the… Continue reading US economy added 195,000 new jobs in June
Obamacare employer mandate delayed until 2015 because of 2014 midterm elections?
The Obama administration will not begin enforcing employer mandates in the Obamacare law until 2015 – one year later than originally planned. Mark Mazur, the Assistant Treasury Secretary for Tax Policy, announced on the agency’s blog that the administration “will provide an additional year before the … mandatory employer and insurer reporting requirements begin”. The… Continue reading Obamacare employer mandate delayed until 2015 because of 2014 midterm elections?
US Senate passes immigration reform bill 68-32
The US Senate has passed a broad immigration reform bill that includes a path to citizenship for an estimated 11 million undocumented immigrants. The 68-32 vote comes after months of debate and a recent deal to boost border security spending significantly. But the legislation faces a tough road in the more conservative House. House Speaker… Continue reading US Senate passes immigration reform bill 68-32
Julia Gillard ousted by Kevin Rudd as Australia’s Labor Party leader
Australia’s PM Julia Gillard has been ousted by Kevin Rudd as leader of Labor Party. Kevin Rudd won by 57 votes to 45, in a leadership ballot of Labor lawmakers. The change comes ahead of a general election due in September, which polls suggest Labor is set to lose. This is the latest twist in… Continue reading Julia Gillard ousted by Kevin Rudd as Australia’s Labor Party leader
EU postpones Turkey membership talks following Gezi Park protests
German proposal to postpone further EU membership talks with Turkey for about four months has been backed by EU foreign ministers. The EU-Turkey talks had been scheduled to resume this Wednesday. But Germany, Austria and the Netherlands have criticized Turkey’s crackdown on anti-government protests. Turkish police arrested at least 20 people in the capital Ankara… Continue reading EU postpones Turkey membership talks following Gezi Park protests
Asian markets fall for second day after Fed stimulus comments
Most Asian markets have fallen again as investors continue to react to news that the Federal Reserve could begin to scale back its stimulus programme. South Korea’s main index dropped 1.5% while Australia’s lost 0.4%. However, Japan’s Nikkei reversed early losses. The indexes in Shanghai and Hong Kong were down more than 2% in early… Continue reading Asian markets fall for second day after Fed stimulus comments
Palestinian PM Rami Hamdallah offers his resignation to President Mahmoud Abbas
Newly appointed Palestinian Prime Minister Rami Hamdallah has offered his resignation to President Mahmoud Abbas, government sources say. It was not immediately clear whether Mahmoud Abbas had accepted the resignation. Sources say Rami Hamdallah quit in a disagreement over his authority. An academic and political independent, Rami Hamdallah was sworn in on June 6. Rami… Continue reading Palestinian PM Rami Hamdallah offers his resignation to President Mahmoud Abbas
Global markets fall after Federal Reserve comments on stimulus
Global markets have fallen sharply after the Federal Reserve signaled it may begin to scale back its stimulus of the US economy later this year. European stock markets were down 3% or more by the close, as US markets fell a further 1.5% at their open. Other risky investments, such as bonds and commodities also… Continue reading Global markets fall after Federal Reserve comments on stimulus
G8 leaders agree deal on tax evasion
G8 leaders have agreed new measures to clamp down on money launderers, illegal tax evaders and corporate tax avoiders. Governments agreed to give each other automatic access to information on their residents’ tax affairs. They will also require shell companies – often used to exploit tax loopholes and invest money anonymously – to identify their… Continue reading G8 leaders agree deal on tax evasion
Czech PM Petr Necas to resign over Jana Nagyova corruption and spying scandal
Czech PM Petr Necas has announced that he will resign on Monday after days of political turmoil. Petr Necas’ ruling coalition will try to form a new government led by someone nominated by his Civic Democratic Party (ODS). Pressure had been growing on Petr Necas to quit since prosecutors on Friday charged his chief of… Continue reading Czech PM Petr Necas to resign over Jana Nagyova corruption and spying scandal
Hassan Rouhani wins Iran presidency in first round
Hassan Rouhani has won Iran’s presidential election, securing just over 50% of the vote and so avoiding the need for a run-off. Crowds gathered in Tehran to hail reformist-backed cleric Hassan Rouhani, who said he had achieved a “victory of moderation over extremism”. Some 72.2% of the 50 million eligible Iranian voters cast ballots to… Continue reading Hassan Rouhani wins Iran presidency in first round
Iran elections 2013: Hassan Rouhani leads in initial vote count
Iran’s presidential election initial count put the reformist-backed candidate, Hassan Rouhani, in the lead. Official figures give Hassan Rouhani 51% of the five million ballots counted so far – well ahead of second-placed Tehran mayor Mohammad Baqer Qalibaf on 17%. If Hassan Rouhani maintains that margin, he will be able to avoid a run-off vote.… Continue reading Iran elections 2013: Hassan Rouhani leads in initial vote count
Barack Obama’s Africa trip: Washington Post revised story about Tanzanian safari
It appears the Washington Post on Friday revised the story about Barack Obama’s trip to Africa with no note to the reader about the changes. The Washington Post on Thursday reported the White House canceled Barack Obama’s Tanzanian safari “following inquiries” from the paper “about the trip’s purpose and expense” – but the version online… Continue reading Barack Obama’s Africa trip: Washington Post revised story about Tanzanian safari