The outcome of India’s general election may help determine a central question at the heart of the contest – what does it mean to be Indian? Prime Minister Modi and his BJP party, like US President Donald Trump, have focused on borders to shape a particular vision of India’s future. Shanti Chandri has lived in […]
ATLANTA (Reuters) – Federal Reserve Chairman Jerome Powell on Monday dismissed comparisons between the rise of business debt to record levels in recent years and the conditions in U.S. mortgage markets that preceded the 2007-to-2009 economic crisis, but even so said caution was warranted. Comparisons to the years before the financial crisis are “not fully […]
NEW YORK (Reuters) – America’s $6 trillion of commercial property markets show no signs a U.S. recession is on the way, with builders, lenders and buyers treading cautiously after a soft first quarter, an industry economist said on Monday. By contrast, before the Great Recession of 2008, Federal Reserve data show that real estate owned […]
LONDON (Reuters) – Britain’s finance industry will emerge stronger from Brexit, remaining one of the world’s top financial centers, ministers in Prime Minister Theresa May’s government forecast on Monday. Since Britain voted to leave the European Union three years ago, London’s financial services industry has been jolted by the prospect of ending four decades of […]
NEW YORK (Reuters) – The dollar was little changed on Monday morning but maintained last week’s gains as investors held off on big moves while awaiting developments in U.S-China trade negotiations and for insight into the Federal Reserve’s thinking on interest-rate policy. China on Monday accused the United States of harbouring “extravagant expectations” for a […]
MILAN (Reuters) – Italy’s fashion industry increased revenues by just 0.2% in the first quarter of 2019, held back by trade tensions between the United States and China, the national sector body said on Monday. The industry, whose annual revenues account for around 4 percent of Italy’s gross domestic output, has grown by 3% on […]
MOSCOW (Reuters) – Russia’s central bank has lowered the share of dollars in its reserves because of the external risks the country could face, First Deputy Governor Ksenia Yudayeva said on Monday. The United States has imposed several rounds of sanctions against Russia since its annexation of Crimea from Ukraine in 2014, including for interfering […]
(Reuters) – Atlanta Federal Reserve President Raphael Bostic is not expecting an imminent interest rate cut and expressed confidence in the economy, he told CNBC in an interview on Monday. “I would say I’m not expecting a rate cut to be imminent, certainly not by September,” Bostic, who is a nonvoting member of Federal Open […]
(Reuters) – European stock markets struggled in the face of a U.S. crackdown on China’s Huawei Technologies on Monday after a report that German-based chipmaker Infineon had halted shipments to Huawei. A profit warning from Ryanair also pressured airline stocks, overpowering the impact of a surge in oil producers due to rising crude prices and […]
In the four years that the Khmer Rouge ruled Cambodia, it was responsible for one of the worst mass killings of the 20th Century. The brutal regime, in power from 1975-1979, claimed the lives of up to two million people. Under the Marxist leader Pol Pot, the Khmer Rouge tried to take Cambodia back to […]