Economy

But even a deal that funnels some money into a humanitarian trust fund for Afghanistan seems unlikely to shore up Afghanistan’s central bank, which needs foreign currency to perform its core functions. The bank, which is modeled on the New York Federal Reserve, sets monetary policy and the exchange rate and stabilizes prices by periodically…

WASHINGTON — Democratic and Republican leaders in Congress vowed on Tuesday to pass legislation averting a nationwide rail strike, saying they agree with President Biden that a work stoppage during the winter holidays would disrupt shipping and deal a devastating blow to the nation’s economy.House Speaker Nancy Pelosi and Senator Chuck Schumer…

New York just became the first state to ban certain types of cryptocurrency mining in an effort to address environmental worries over the energy-intensive process."I will ensure that New York continues to be the center of financial innovation, while also taking important steps to prioritize the protection of our environment," New York Governor…

Nov 28 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever.Purchasing managers index (PMI) data will be the key economic driver for Asian markets this week, but the tone will be set by the increasingly tense political situation in China.Thousands of people are taking to the streets in several cities across the country in an…

RALEIGH – Whether North Carolina’s economy is in a recession – along with the rest of the United States – remains a matter of debate. But recent statistics show that the no matter how one defines recession the state’s economic engine is slowing down. So says economist Dr. Mike Walden in his new NCSU Index of North Carolina Leading…

Levi Strauss said its revenues grew more than forecast in the lead-up to the festive season, even as it navigated supply chain woes that wiped out the benefit of Black Friday sales.A shift to casual clothing has boosted demand for Levi’s jeans, including newer styles with a baggier fit, as consumers work from home during the pandemic.The San…

James Politi and Aime Williams in Washington and Henry Foy and Sam Fleming in BrusselsThe Pentagon has warned that Russia has now amassed sufficient military assets along the Ukrainian border to launch an invasion at any moment, a build-up that has given the Kremlin a “range of options”, including an attack aimed at occupying the entire…

Dec 7 (Reuters) - China announced on Wednesday the most sweeping changes to its tough zero-COVID policy since the pandemic began three years ago, loosening rules that curbed the spread of the virus but had hobbled the world's second-largest economy and sparked protests.The relaxation of rules, which include allowing infected people with mild or…

Global shares and the price of some key commodities have risen on hopes that the easing of China’s strict zero-Covid measures would help to bring down inflation, even as some experts warned that the country was not prepared to live with the disease.China’s government on Wednesday announced a significant shift towards living with the virus.…

The first major free trade agreement signed by Britain after Brexit has been branded a failure after new figures showed exports had fallen since it came into force.Liz Truss signed a “historic” deal with Japan as trade secretary in October 2020, describing it as a “landmark moment for Britain”. It was claimed it would boost trade by billions of…