The Federal Reserve is leaving its benchmark interest rate unchanged while signaling further gradual rate hikes in the months ahead as long as the economy stays healthy. The Fed’s decision left the central bank’s key short-term rate at 1.75 percent to 2 percent – the level hit in June when …

European Union imports of U.S. soybeans were already rising substantially before a top EU official told President Donald Trump last week that the bloc would buy more. EU Commission figures released Wednesday show that 37 percent of the bloc’s soybean imports last month were coming from the U.S., compared with …

China’s government has warned it will retaliate if Washington imposes new trade penalties following a report the Trump administration will propose increasing the tariff rate on an additional $200 billion of Chinese imports. A foreign ministry spokesman, Geng Shuang, warned Tuesday that Beijing will “definitely fight back” to defend its …

Each morning, Kamarunisa Poovummada sips her cup of tea while watching waves from the Arabian Sea crash around a water treatment plant opposite her house on Kavaratti island, off India’s southwest coast. She links the taste of her perfectly brewed cup to the desalination plant that has brought potable water …

Brazil’s three largest fuel distribution companies are under investigation for fixing prices at the pump, police said on Tuesday, reigniting debate over potential collusion among gas station owners in Latin America’s largest oil producer. The firms targeted by the probe are Petrobras Distribuidora SA, a subsidiary of state oil company …

The U.S. Treasury Department said on Tuesday that it had extended the deadline for investors to divest holdings in sanctioned Russian companies EN+, GAZ Group and Rusal to Oct. 23 from Aug. 5. The U.S. Treasury in April imposed sanctions against billionaire Oleg Deripaska and eight companies in which he …

When Abid Ali risked his life in a rubber dinghy in 2015 as he fled Pakistan for Europe, he didn’t think that three years later he would be making bags, backpacks and sneakers out of similar boats in a small workshop in Berlin. Ali, a tailor, is working with non-profit …

Mexico is still preparing all options to respond to possible U.S. tariffs on car imports, Deputy Economy Minister Juan Carlos Baker said on Tuesday, despite U.S.-European talks last week that were supposed to have seen off the immediate threat. Last week European Commission President Jean-Claude Juncker said he had secured …

The Trump administration is studying the idea of implementing a big tax break for wealthy Americans by reducing the taxes levied on capital gains, but no decision has been made yet on whether to proceed. Administration officials said Tuesday Treasury Secretary Steven Mnuchin prefers deferring to Congress. But he does …

Across Maracaibo, the capital of Venezuela’s largest state, residents unplug refrigerators to guard against power surges. Many only buy food they will consume the same day. Others regularly sleep outside. The rolling power blackouts in the state of Zulia pile more misery on Venezuelans living under a fifth year of …

German farmers intensified calls for around 1 billion euros ($1.17 billion) in special aid on Tuesday after crop damage from a drought and heatwave, but Berlin said it would wait for an August harvest report before making a decision. The president of German farming association DBV, Joachim Rukwied, said drought …

A senior World Bank official said Tuesday that the Lebanese economy is “not doing great” and urged the country’s leaders to approve some $1.1 billion worth of projects put forward by the international lender, saying otherwise they could be cancelled.  Ferid Belhaj, the bank’s vice president for the Middle East …

Iran said on Tuesday U.S. President Donald Trump was mistaken to expect Saudi Arabia and other oil producers to compensate for supply losses caused by U.S. sanctions on Iran, after OPEC production rose only modestly in July. The comments, from Iran’s OPEC governor, came a day after a Reuters survey …

Mexican President-elect Andres Manuel Lopez Obrador says he wants to create 400,000 jobs by planting 1 million hectares (2.47 million acres) with timber and fruit trees.   Lopez Obrador said in a video posted Sunday that he wants to plant half the total amount in 2019, focusing on timber species …

Some European companies are rethinking their strategies to cushion the impact of trade tensions between the world’s two biggest economies, the United States and China. The focus will switch back to China after a truce on tariffs emerged from U.S. President Donald Trump’s meeting with European Commission President Jean-Claude Juncker …

Spanish taxi drivers blocked major city streets including Barcelona’s Gran Via and Madrid’s Castellana on Monday in a protest to pressure the government to curb licenses to online ride-hailing services such as Uber. Union representatives were due to meet officials of Prime Minister Pedro Sanchez’s government later in the day …

Turkish steel makers are looking to expand in West Africa and other emerging markets in response to tariffs and planned quotas which threaten their sales to the United States and the European Union, a senior sector official said. Namik Ekinci, board chairman for the Turkish Steel Exporters Association (TSEA), told …

The United States has eased export controls for high technology product sales to India, granting it the same access as NATO allies, Australia, Japan and South Korea, U.S. Commerce Secretary Wilbur Ross said on Monday. Ross, speaking at U.S. Chamber of Commerce event, said the move to grant Strategic Trade …

Iran’s currency hit new lows with just under a week before new U.S. economic sanctions are due to take effect on August 4, despite the appointment of a new central bank governor and a new economic team. Arab and Iranian media reported the Iranian rial hit a new low of …

Ukraine lost the bulk of a legal dispute against Russia on Monday, when a World Trade Organization dispute panel struck out many of its arguments about Russia refusing to use Ukrainian railway equipment, a major export for Kiev. Ukraine complained to the WTO in 2015 about Russia’s rejection of Ukrainian …

Building on President Donald Trump’s “Indo-Pacific” strategy,   U.S. Secretary of State Mike Pompeo will announce a series of investment initiatives in Asia on Monday focusing on digital economy, energy and infrastructure. The announcement, to be made at a U.S. Chamber of Commerce forum in Washington, comes at a time when …

White House economic adviser Larry Kudlow said Sunday he believes the 4.1 percent growth the U.S. recorded in the last three months is sustainable in the coming months despite skepticism expressed by independent economists. “There’s just a lot of good things going on,” Kudlow told CNN.  He said President Donald …

Agriculture ministers from the G-20 countries criticized protectionism in a joint statement Saturday and vowed to reform World Trade Organization (WTO) rules, but did not detail what steps they would take to improve the food trade system. In the statement, they said they were “concerned about the increasing use of protectionist nontariff trade measures, inconsistently with …

President Donald Trump falsely claimed he’s pulled off “an economic turnaround of historic proportions.” Speaking at the White House Friday after the government reported that the economy grew at an annual rate of 4.1 percent in the second quarter, Trump declared that the gains were sustainable and would only accelerate. …

Friday’s positive numbers on the U.S. economic growth are “very, very sustainable,” according to U.S. President Donald Trump. His comments came after figures showed U.S. GDP growth hit 4.1 percent in the second quarter. The question is whether that growth is sustainable, as VOA’s Bill Gallo reports from the White …