https://www.voanews.com/z/3497 Economy https://www.voanews.com/Content/responsive/VOA/en-US/img/logo.png https://www.voanews.com/z/3497 en 2026 - VOA 60 Tue, 09 Jun 2026 07:57:59 -0400 Pangea CMS – VOA BEIJING — China's top economic planning agency said on Sunday it was taking steps to scale back subsidies for renewable energy projects after a boom in solar and wind power installations. China broke its own records for new solar installations in 2024 with installed capacity up 45% from the previous year. China now has almost 887 GW of installed solar power, more than six times the capacity of the United States, according to data from the International Renewable Energy Agency. The... https://www.voanews.com/a/china-to-roll-back-clean-power-subsidies-after-boom/7968356.html https://www.voanews.com/a/china-to-roll-back-clean-power-subsidies-after-boom/7968356.html Sun, 09 Feb 2025 04:15:06 -0500 China Newswebdesk@voanews.com (Reuters) BANGKOK — Thailand has seen another year of political controversy, but the economy continues to be the country's focus for 2025. The installation of Paetongtarn Shinawatra as Thailand's 31st prime minister in August means the country is once again led by a member of the Shinawatra family. But questions remain as to what influence her father, Thaksin Shinawatra, will have, and what kind of policies the ruling Pheu Thai Party will implement. The return of the Shinawatra family... https://www.voanews.com/a/thailand-s-economy-and-tourism-remain-focus-for-2025-under-younger-shinawatra-/7919623.html https://www.voanews.com/a/thailand-s-economy-and-tourism-remain-focus-for-2025-under-younger-shinawatra-/7919623.html Tue, 31 Dec 2024 08:10:46 -0500 East Asiawebdesk@voanews.com (Tommy Walker) Stockholm — Sales by major arms suppliers were boosted last year by the wars in Ukraine and Gaza and tensions in Asia, with marked increases for manufacturers based in Russia and the Middle East, according to a report published Monday. Sales of arms and military services by the world's 100 largest arms companies totaled $632 billion last year, up 4.2%, the Stockholm International Peace Research Institute (SIPRI) said. They had declined in 2022 due to the inability of these global... https://www.voanews.com/a/wars-regional-tensions-boost-sales-for-major-arms-suppliers/7883623.html https://www.voanews.com/a/wars-regional-tensions-boost-sales-for-major-arms-suppliers/7883623.html Sun, 01 Dec 2024 19:32:49 -0500 Economywebdesk@voanews.com (Agence France-Presse) Abuja, Nigeria — Nigeria concluded a three-day conference Wednesday to mark National Mining Week. Authorities in the West African nation have been seeking to expand investments in the mining industry in a bid to diversify the economy, amid the global surge in demand for minerals.  The conference, attended by government officials, mining industry players and international investors, was part of the Nigerian government's campaign to boost not only mining, but also local processing of the... https://www.voanews.com/a/nigeria-mining-week-sharpens-focus-on-long-neglected-sector/7870991.html https://www.voanews.com/a/nigeria-mining-week-sharpens-focus-on-long-neglected-sector/7870991.html Wed, 20 Nov 2024 14:21:13 -0500 Africawebdesk@voanews.com (Timothy Obiezu) Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel and a failed attempt to sell the airline to JetBlue. Spirit, the biggest U.S. budget airline, has lost more than $2.5 billion since the start of 2020 and faces looming debt payments totaling more than $1 billion over the next year. Spirit said it expects to operate as normal as it works its way through a prearranged Chapter... https://www.voanews.com/a/spirit-airlines-files-for-bankruptcy-as-financial-losses-pile-up-and-debt-payments-loom/7867592.html https://www.voanews.com/a/spirit-airlines-files-for-bankruptcy-as-financial-losses-pile-up-and-debt-payments-loom/7867592.html Mon, 18 Nov 2024 07:01:36 -0500 USAwebdesk@voanews.com (Associated Press) AMSTERDAM — The Netherlands' foreign minister, whose ministry oversees export restrictions on top computer chip equipment maker ASML, said on Monday that China-Russia trade was "directly affecting" European security.  NATO views China as a "decisive enabler" of Russia in its war against Ukraine, given that Chinese firms are selling goods that end up as components in Russian weapons, including drones, Caspar Veldkamp said before a meeting with European Union foreign... https://www.voanews.com/a/dutch-minister-chinese-trade-with-russia-directly-affecting-eu-security/7867576.html https://www.voanews.com/a/dutch-minister-chinese-trade-with-russia-directly-affecting-eu-security/7867576.html Mon, 18 Nov 2024 06:38:43 -0500 Europewebdesk@voanews.com (Reuters) Lost Hills, California — In a sprawling plant in the heart of California's farmland, millions of shells rush down a metallic chute and onto a conveyor belt where they are inspected, roasted, packaged and shipped off to groceries around the world. Pistachios are growing fast in California, where farmers have been devoting more land to a crop seen as hardier and more drought-tolerant in a state prone to dramatic swings in precipitation. The crop generated nearly $3 billion last year in... https://www.voanews.com/a/california-farmers-enjoy-pistachio-boom-with-much-of-it-headed-to-china/7858996.html https://www.voanews.com/a/california-farmers-enjoy-pistachio-boom-with-much-of-it-headed-to-china/7858996.html Sun, 10 Nov 2024 16:31:04 -0500 USAwebdesk@voanews.com (Associated Press) BEIJING — China on Friday approved a 6 trillion yuan ($839 billion) plan to help local governments refinance their mountains of debt, in the latest push to rev up growth in the world's second largest economy. The plan will be implemented over the next three years, Xu Hongcai, vice-chairman of the National People's Congress's financial and economic committee, said at a news conference Friday. Finance minister Lan Fo'an estimated that the hidden debt of local governments... https://www.voanews.com/a/china-approves-840b-plan-to-refinance-local-government-debt-boost-slowing-economy-/7856983.html https://www.voanews.com/a/china-approves-840b-plan-to-refinance-local-government-debt-boost-slowing-economy-/7856983.html Fri, 08 Nov 2024 09:39:28 -0500 China Newswebdesk@voanews.com (Associated Press) London — The punishing post-COVID wave of sovereign defaults has finally crested, with the likes of Ghana, Sri Lanka and Zambia concluding years of painful debt reworks. But the International Monetary Fund and others worry that a dangerous liquidity shortfall could take its place in many emerging economies — setting back development, stunting climate change mitigation and fueling distrust in governments and Western institutions. The issue, and what to do about it when Western countries are... https://www.voanews.com/a/as-poor-nations-default-wave-peaks-cash-shortage-could-take-its-place-/7829993.html https://www.voanews.com/a/as-poor-nations-default-wave-peaks-cash-shortage-could-take-its-place-/7829993.html Mon, 21 Oct 2024 06:40:39 -0400 Economywebdesk@voanews.com (Reuters) The World Bank is making changes designed to increase its lending capacity and to make its loans more affordable. The International Bank for Reconstruction and Development (IBRD) is lowering its equity-to-lending rate by 1 percentage point to 18%, a move that will generate $30 billion in additional financing. The action, the World Bank said in a statement Tuesday, in combination with previous changes, "could enable more than $150 billion in additional financing over 10... https://www.voanews.com/a/world-bank-lowers-lending-rate-adding-30b-to-available-financing/7823974.html https://www.voanews.com/a/world-bank-lowers-lending-rate-adding-30b-to-available-financing/7823974.html Tue, 15 Oct 2024 22:12:12 -0400 Economywebdesk@voanews.com (VOA News) WASHINGTON — The world's 26 poorest countries, home to 40% of the most poverty-stricken people, are more in debt than at any time since 2006 and increasingly vulnerable to natural disasters and other shocks, a new World Bank report showed on Sunday. The report finds that these economies are poorer today on average than they were on the eve of the COVID-19 pandemic, even as the rest of the world has largely recovered from COVID and resumed its growth trajectory. Released a week before... https://www.voanews.com/a/world-bank-says-26-poorest-countries-in-worst-financial-shape-since-2006/7821293.html https://www.voanews.com/a/world-bank-says-26-poorest-countries-in-worst-financial-shape-since-2006/7821293.html Sun, 13 Oct 2024 21:07:59 -0400 Economywebdesk@voanews.com (Reuters) washington — China's weeklong celebration of its National Day, from October 1, is known as the "golden week" because it's the Asian giant's biggest week for travel, tourism and leisure spending. However, some Chinese who spoke to VOA Mandarin described this year's National Day as a national day of mourning because of higher costs while the economy is struggling. All those interviewed by VOA asked that their names not be used out of fear of retaliation from the... https://www.voanews.com/a/china-s-national-day-holiday-subdued-amid-sluggish-economy/7811095.html https://www.voanews.com/a/china-s-national-day-holiday-subdued-amid-sluggish-economy/7811095.html Fri, 04 Oct 2024 19:40:34 -0400 China Newswebdesk@voanews.com (Bo Gu) London — Oil prices were steady on Monday and on track to fall for the third month in a row as a strong supply outlook and questions around demand outweighed fears that Israeli strikes in Lebanon and Yemen could escalate conflict in the Middle East. Brent crude futures LCOc1 for November delivery, expiring on Monday, lost 10 cents to $71.88 a barrel as of 0933 GMT. The more active December contract LCOc2 rose 6 cents to $71.60. U.S. West Texas Intermediate (WTI) futures CLc1 lost 10 cents... https://www.voanews.com/a/oil-prices-set-to-fall-for-third-month-despite-middle-east-conflict-/7804328.html https://www.voanews.com/a/oil-prices-set-to-fall-for-third-month-despite-middle-east-conflict-/7804328.html Mon, 30 Sep 2024 06:36:57 -0400 Economywebdesk@voanews.com (Reuters) With a dockworkers' strike threatening to close ports on the East and Gulf coasts beginning this week, Chris Butler is growing worried. Butler is CEO of the National Tree Company, and, like many businesses, his is counting on shipments that are en route from Asia but won't reach their ports before an expected strike by longshoremen starting at 12:01 a.m. Eastern time Tuesday. The company, based in New Jersey, is an importer of artificial Christmas trees and other holiday... https://www.voanews.com/a/us-retailers-brace-for-potential-pain-from-longshoremen-strike/7803847.html https://www.voanews.com/a/us-retailers-brace-for-potential-pain-from-longshoremen-strike/7803847.html Sun, 29 Sep 2024 17:19:30 -0400 USAwebdesk@voanews.com (Associated Press) The global economy has stabilized after several years of inflation-fueled volatility and is on pace to grow at a 3.2% rate over the next two years, according to a report issued Wednesday by the Organization for Economic Cooperation and Development (OECD).  Subtitled "Turning the corner," the report cites a downward trend in inflation across most major economies, as well as increasing trade, rising real income and central banks gradually lowering interest rates as key reasons for... https://www.voanews.com/a/oecd-sees-global-economy-turning-corner-toward-growth/7799539.html https://www.voanews.com/a/oecd-sees-global-economy-turning-corner-toward-growth/7799539.html Wed, 25 Sep 2024 19:49:47 -0400 Economywebdesk@voanews.com (Rob Garver) Cognac, France — Frustrated cognac producers in southwestern France are growing increasingly anxious over the looming threat of Chinese tariffs on European brandy, a move industry representatives worry could force French liquor from the Chinese market. Some 800 protesters riding on tractors and carrying signs gathered in France's southwestern town of Cognac this week demanding a delay to an upcoming European Union vote to impose duties on Chinese electric vehicles. This protest -- the... https://www.voanews.com/a/angry-french-cognac-makers-see-red-over-chinese-tariffs-threat/7794107.html https://www.voanews.com/a/angry-french-cognac-makers-see-red-over-chinese-tariffs-threat/7794107.html Sun, 22 Sep 2024 16:02:35 -0400 Europewebdesk@voanews.com (Agence France-Presse) Washington — The U.S. Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates helped tame inflation but that also made borrowing painfully expensive for American consumers. The rate cut, the Fed's first in more than four years, reflects its new focus on bolstering the job market, which has shown clear signs of slowing. Coming just weeks before the presidential election, the Fed's move... https://www.voanews.com/a/us-federal-reserve-cuts-key-rate-by-sizable-half-point-signaling-end-to-its-inflation-fight/7789466.html https://www.voanews.com/a/us-federal-reserve-cuts-key-rate-by-sizable-half-point-signaling-end-to-its-inflation-fight/7789466.html Wed, 18 Sep 2024 14:40:56 -0400 USAwebdesk@voanews.com (Associated Press) BRUSSELS — Alphabet unit Google won its challenge on Wednesday against a $1.66 billion antitrust fine imposed five years ago for hindering rivals in online search advertising, a week after it lost a much bigger case.  The European Commission, in its 2019 decision, said Google had abused its dominance to prevent websites from using brokers other than its AdSense platform that provided search adverts. The practices it said were illegal took place from 2006 to 2016. The Luxembourg-based... https://www.voanews.com/a/google-wins-challenge-against-1-66b-eu-antitrust-fine/7788759.html https://www.voanews.com/a/google-wins-challenge-against-1-66b-eu-antitrust-fine/7788759.html Wed, 18 Sep 2024 05:30:32 -0400 Europewebdesk@voanews.com (Reuters) SEOUL/NEW DELHI — Samsung Electronics, the world's top maker of smartphones, TVs and memory chips, is cutting up to 30% of its overseas staff at some divisions, three sources with direct knowledge of the matter told Reuters.  South Korea-based Samsung has instructed subsidiaries worldwide to reduce sales and marketing staff by about 15% and the administrative staff by up to 30%, two of the sources said.  The plan will be implemented by the end of this year and would impact jobs across... https://www.voanews.com/a/samsung-electronics-plans-global-job-cuts-of-up-to-30-sources-say-/7780071.html https://www.voanews.com/a/samsung-electronics-plans-global-job-cuts-of-up-to-30-sources-say-/7780071.html Wed, 11 Sep 2024 11:03:47 -0400 Economywebdesk@voanews.com (Reuters) Oslo — Electric car sales in Norway took a 94% share of the market in August — a new world record — statistics showed Monday, as sales in the rest of Europe stagnate.   Boosted by the Tesla Model Y, which accounted for 18.8% of sales, and to a lesser extent Hyundai's Kona and Nissan's Leaf, electric vehicles made up 94.3% of new car registrations, the Norwegian Road Federation (OFV) said.   Norwegians bought 10,480 new EVs in August, bringing the total to 68,435 since the start... https://www.voanews.com/a/norway-s-electric-car-sales-set-new-world-record-/7768036.html https://www.voanews.com/a/norway-s-electric-car-sales-set-new-world-record-/7768036.html Mon, 02 Sep 2024 07:17:16 -0400 Europewebdesk@voanews.com (Associated Press)