‘Moral evil, economic good’: Whitewashing the sins of colonialism

In 2017, a professor at Oxford University in the United Kingdom proposed a research project. The key thesis: that the empire as a historical phenomenon – distinct from an ideological construct – has made ethical contributions and that its legacy cannot be reduced to that of genocides, exploitations, domination and repression. Expectedly, such a project […]

Hoping to Soothe Lawmakers, Powell Vows Economic Support: Live Updates

Here’s what you need to know: Jerome H. Powell, the Federal Reserve chair, doubled down on the message that weak price gains, rather than inflation, is the central bank’s concern.Credit…Pool photo by Susan Walsh Jerome H. Powell, the Federal Reserve chair, said on Wednesday that it could take years for the central bank to coax […]

Powell Focuses on Economic Need at Key Moment in Markets and Politics

The American economy remains far from healed and the Federal Reserve is in no hurry to dial back its support, Jerome H. Powell, the central bank’s chair, told lawmakers during a closely watched hearing on Tuesday. It’s a pledge Mr. Powell has made many times in the last 11 months, but on Tuesday it came […]

Powell Testifies as Focus on Economic Pain Persists: Live Updates

Here’s what you need to know: Video On Tuesday, the Federal Reserve chairman, Jerome Powell, will testify on the Monetary Policy Report, a semiannual report, before a virtual hearing of the Senate Banking Committee.CreditCredit…Al Drago for The New York Times Jerome H. Powell, the chair of the Federal Reserve, told lawmakers that the economic rebound […]

Stocks extend bull run on hopes of quick economic recovery

Asian shares advanced on Tuesday, putting world equities on course to extend their bull run for a 12th consecutive session as optimism about the global economic recovery and expectations of continuing low-interest rates drive investments into riskier assets. Oil prices soared to a 13-month high as a deep freeze due to a severe snow storm […]

Economic sanctions are damaging the environment

President Joe Biden has been elected on a promise, among others, to move the United States towards an ambitious new climate agenda – a feat that will require a radical transformation of thinking and practices across all areas of American policymaking. For the US to become a global leader in climate policy, and instigate real […]

After its worst shrinkage, Singapore sees 2021 economic rebound

With more stimulus expected, government forecasts growth of between 4-6 percent in 2021, but recovery seen as ‘uneven’. Singapore reaffirmed its forecast for a rebound in economic growth this year after its worst annual contraction since independence, signaling the recovery is on track while more stimulus expected in this week’s annual budget presentation will provide […]

N Korea: Kim fires senior economic official amid deepening crisis

North Korea’s border closure, drop in trade and raw material shortages may lead to perfect storm, analysts warn. North Korean leader Kim Jong Un has ripped into the performance of his cabinet and fired a senior economic official he appointed a month ago, saying they had failed to come up with new ideas to salvage […]

Spending on green economic stimulus is slowly rising, study finds

Of the $14.9 trillion in public stimulus spending to offset the effects of the pandemic, $1.8 trillion is being used for green purposes, the study finds. Huge amounts of post-pandemic stimulus packages are mostly failing to support action to tackle climate change or halt the loss of biodiversity, but the amount of green spending is […]

Qatar to assist Lebanon’s economic recovery once gov’t is formed

Qatar’s FM says Doha ready to invest in Lebanon ‘as soon as a government is formed’. Qatar is ready to help cash-strapped Lebanon with its economic recovery if its deeply divided political class agrees on a new government. The outgoing cabinet has served in a caretaker role since resigning in August last year following public […]

Ecuador to vote amid economic crisis and widespread discontent

Quito, Ecuador – Ecuadorians will head to the polls on Sunday to elect a new president amid widespread discontent over the country’s handling of the coronavirus pandemic, an economic crisis worsened by COVID-19, and several corruption scandals. Sixteen presidential candidates will be on the ballot, though most have polled under two percent support and are […]

Democrats Speed Ahead on Economic Aid Package

WASHINGTON — Democrats on Tuesday took the first step to push through President Biden’s $1.9 trillion economic rescue plan, using a budgetary maneuver that could eventually allow the measure to become law without Republican support. The move advanced the two-track strategy that Mr. Biden and Democratic leaders are employing to speed the aid package through […]

‘Nature is our home’: New UK report urges big economic rethink

Nations will have to rethink economic growth as a measure of success if they want to make good on pledges to halt the destruction of the natural world, according to a British government-backed report published on Tuesday. With countries due to meet in China in May for a UN-led summit to agree on a new […]

Opinion | The Republican Economic Plan Is an Insult

But what about bipartisanship? As Biden might say, “C’mon, man.” First of all, a party doesn’t get to demand bipartisanship when many of its representatives still won’t acknowledge that Biden won legitimately, and even those who eventually acknowledged the Biden victory spent weeks humoring baseless claims of a stolen election. Opinion Debate What should the […]

Not just Navalny: Economic woes also drive Russians to protest

The trigger for some of the biggest protests to sweep Russia in years was the arrest of opposition politician and Kremlin critic Alexey Navalny, who was detained on his return to the country last month after surviving poisoning by a nerve agent. The anger runs deeper, however. Some protesters, young and old, say they have […]

In Russia, Economic Slump Erodes Consensus That Shielded Putin

KALININGRAD, Russia — Aleksandr Dobralsky took to the streets to protest the arrest this past month of Russia’s most prominent opposition leader. But he had other grievances as well. “It’s like somebody stepped on your toe and said, ‘Just be patient with this for a little while,’” Mr. Dobralsky, a lawyer, said of the country’s […]

Democrats Prepare to Move on Economic Aid, With or Without the G.O.P.

WASHINGTON — Democrats are preparing to bypass Republican objections to speed President Biden’s $1.9 trillion economic aid package through Congress, rather than pare it back significantly to attract Republican votes, even as administration officials and congressional moderates hold out hopes of passing a bill with significant bipartisan support. On a day when new data from […]

Fed Leaves Interest Rates Near-Zero as Economic Recovery Slows

Federal Reserve officials left interest rates near-zero and pledged to continue making huge purchases of government-backed bonds as the central bank tries to help the United States economy weather the pandemic’s ongoing hit. “The pace of the recovery in economic activity and employment has moderated in recent months, with weakness concentrated in the sectors most […]

Fed: US economic recovery hinges on ‘progress on vacinations’

At the conclusion of its two-day policy meeting, Federal Reserve policymakers said the path of the economic recovery will depend on the course of the virus and ‘progress on vaccinations’. Federal Reserve policymakers said on Wednesday that the United State’s economic recovery hinges on vaccination drives. “The path of the economy will depend significantly on […]

Economic profiteering fuelling war in Yemen: UN

Analysts estimate Houthi rebels diverted at least $1.8bn in 2019 allocated for citizens’ basic services and salaries. Economic profiteering is fuelling the catastrophe in Yemen where a six-year war has led to repeated attacks on civilians, forced disappearances, and other gross violations human rights violations, UN experts said. A new United Nations report estimates Houthi […]

Economic shot in the arm: IMF predicts vaccine-fuelled growth

After sinking 3.5 percent in 2020, the global economy will grow 5.5 percent this year, the International Monetary Fund forecasted. The spread of COVID-19 vaccines will power a stronger global economic recovery in 2021, the International Monetary Fund forecast Tuesday. After sinking 3.5 percent in 2020, the worst year since World War II, the global […]

Stocks jump as Biden inauguration lifts US economic stimulus hope

Asian stocks hit record highs following jump on Wall Street as investors bet on increased US government spending. Asian stocks rose to new record highs on Thursday, tracking markets in the United States as investors hoped for more economic stimulus from newly inaugurated US President Joe Biden to offset damage wreaked by the COVID-19 pandemic. […]