Latest Economic policy News

New premier Imran Khan pledges to restore Pakistan's economy

Aug. 19, 2018 8:39 PM EDT

ISLAMABAD (AP) — Prime Minister Imran Khan said in his first televised speech in office that Pakistan is in the worst economic condition it has seen and pledged to cut government spending, end corruption and repatriate public funds. A day after he was sworn in, Khan promised reforms across all fields. "I...

US says conserving oil is no longer an economic imperative

Aug. 19, 2018 1:01 PM EDT

WASHINGTON (AP) — Conserving oil is no longer an economic imperative for the U.S., the Trump administration declares in a major new policy statement that threatens to undermine decades of government campaigns for gas-thrifty cars and other conservation programs. The position was outlined in a memo released...

Belarusian leader Lukashenko fires Cabinet as economy sinks

Aug. 19, 2018 8:57 AM EDT

MINSK, Belarus (AP) — Belarusian President Alexander Lukashenko has fired his Cabinet, emphasizing the need to strengthen the economy to preserve the nation's post-Soviet independence. Lukashenko said he fired Prime Minister Andrei Kobyakov's Cabinet for failing to execute his orders and for paying too...

Superdry founder gives $1.28 million to anti-Brexit campaign

Aug. 19, 2018 6:43 AM EDT

LONDON (AP) — The co-founder of the fashion brand Superdry said Sunday he has donated 1 million pounds ($1.28 million) to a group seeking a new referendum on Britain's departure from the European Union, as the U.K. government prepares to publish its assessment of the impact of leaving the bloc without an...

UK's right-wing Farage vows to end Brexit 'sell-out'

Aug. 18, 2018 11:33 AM EDT

LONDON (AP) — In Britain, there is a growing sense of Brexit deja vu. Two years after the country voted to leave the European Union, emotional arguments about membership in the bloc are raging as fiercely as they did during the 2016 referendum. With seven months until Britain officially leaves the bloc,...

Venezuela hikes wages ahead of monetary overhaul

Aug. 17, 2018 10:49 PM EDT

CARACAS, Venezuela (AP) — Venezuelan President Nicolas Maduro raised wages for the fifth time this year and said he wanted to peg prices to the nation's fledgling cryptocurrency as part of a package of measures that economists say is likely to accelerate hyperinflation. Maduro made the announcement in a...

Getting personal: US, Turkish leaders feud over arrest

Aug. 17, 2018 6:59 PM EDT

ANKARA, Turkey (AP) — A detained American pastor has become a symbol of a growing rift between Turkey and the United States, but problems in the Cold War-era alliance as well as Turkey's own financial crisis are unlikely to dissipate even if he is released and Washington eases economic penalties. The fate...

Turkish lira resumes fall after Trump sanctions threat

Aug. 17, 2018 6:55 PM EDT

ISTANBUL (AP) — The Turkish currency fell again on Friday, breaking a three-day quiet spell in the country currency crisis, after the United States threatened to impose new sanctions on the NATO country. The lira dropped about 5 percent, to about 6.11 per dollar, after U.S. President Donald Trump posted a...

Stocks jump as hopes rise for progress on China trade talks

Aug. 17, 2018 4:45 PM EDT

NEW YORK (AP) — Stocks rose late in the day Friday as investors welcomed signs of progress in resolving the trade dispute between the U.S. and China. The Wall Street Journal reported that the countries hope to have a resolution by November. Industrial, health care and basic materials companies made some of...

Greek bailout ends, but Europe's debt problems grind on

Aug. 17, 2018 10:56 AM EDT

FRANKFURT, Germany (AP) — Greece officially completes its bailout program on Monday, after eight years of cutbacks enforced in return for massive loans and following an economic collapse on the scale of the Great Depression. The exit is a welcome milestone. But it offers little assurance that the...