Finance & Economics
UN food price index registers drop in prices for third consecutive month
Food on sale at a market in Harare, Zimbabwe.
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UN proposes mechanisms to raise $400 billion to close gap on development financing needs
Robert Vos of the UN Department of Economic and Social Affairs, launches report at press conference.
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WBG Continued to Support Latin America and the Caribbean’s Resilience to Global Turmoil in 2012
The World Bank Group (WBG) committed $11.8 billion in fiscal year 2012 (July 2011 to June 2012) to support Latin America and the Caribbean’s (LAC) resilience in the midst of global turmoil. This includes resources from the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).
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World Bank Supports Armenia’s Tax Administration to Improve Business Climate and Competitiveness
The World Bank’s Board of Executive Directors today approved a US$12 million credit for the Tax Administration Modernization Project (TAMP) for Armenia.
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IMF: Europe's Problems Slow US Economic Recovery
The head of the International Monetary Fund, Christine Lagarde, said the "tepid" U.S. economic recovery could be hurt by two problems: Europe's economic troubles and U.S. political gridlock.
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U.S. Commerce Department to Open Four Regional U.S. Patent Offices That Will Speed Up the Patent Process and Help American Businesses Innovate, Grow, and Create Jobs
Acting U.S. Commerce Secretary Rebecca Blank and Under Secretary of Commerce for Intellectual Property and Director of the U.S. Patent and Trademark Office (USPTO) David Kappos today announced plans to open regional USPTO offices in or around Dallas, Texas, Denver, Colorado, and Silicon Valley, California.
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In Niger Delta, Black-Market Oil Booms
Nigerian security forces say they have burned more than 900 illegal refineries to the ground in the past five months, but oil companies continue to complain that theft is crippling their profits.
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Expanded North Carolina Lithium Facility Opens, Boosting U.S. Production of a Key Manufacturing Material
On June 29, U.S. Energy Secretary Steven Chu recognized the opening of Rockwood Lithium’s expanded manufacturing facility in Kings Mountain, North Carolina.
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S. Sudan Oil Shutdown Chokes Economy
Brave or reckless, South Sudan's decision to shut down its oil production to protest the north has had disastrous consequences for its citizens. The country's economy came to a jarring halt in January, when it shut down oil production due to a trade dispute with Sudan.
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US Treasury Department Announces $204 Million In Proceeds From Pricing of Public Offerings of Preferred Stock in Seven Financial Institutions
As part of the strategy it outlined last month for winding down its remaining Troubled Asset Relief Program (TARP) bank investments, the U.S. Department of the Treasury announced that it priced secondary public offerings of the preferred stock it holds in the following seven financial institutions at the following prices per share:
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