Malaysia’s New Leaders Lay Out Economic Reforms, Rattle Nerves

Malaysia’s new government to scrutinize past economic policies under the now ousted Najib Razak administration is prompting analysts to warn of a slide in investment and growth in one of Southeast Asia’s top economies. The new leadership has appointed a group of prominent citizens, an eminent persons group, to come up with a new policy agenda …

Study: US Insurers Unprepared for Climate Change Disasters 

Most U.S. insurance companies have not adapted their strategies to address the dangers of climate change, making them likely to raise rates or deny coverage in high-risk areas, said a study released Tuesday. With predictions of an above-average Atlantic hurricane season approaching, thousands of people could be unable to afford insurance protection or lose it …

Mexico Central Bank to Create Cybersecurity Unit After Hack

Mexico’s central bank said Tuesday that it was creating a cybersecurity unit, following a hack on a domestic payments system at the end of April that affected Mexican banks. The central bank said in a notice in the government’s daily gazette that the new unit would design and issue guidelines on information security for the …

US Lawmakers Push Back on Trump Talk of Helping China’s ZTE

U.S. lawmakers on Tuesday rejected any plan by President Donald Trump to ease restrictions on China’s ZTE Corp, calling the telecommunications firm a security threat and vowing not to abandon legislation clamping down on the company. Trump on Monday had defended his decision to revisit penalties on ZTE for flouting U.S. sanctions on trade with …

Mexico Says NAFTA Deal Unlikely This Week, Canada Upbeat

Mexico’s economy minister said that he saw diminishing chances for a new North American Free Trade Agreement ahead of a Thursday deadline to present a deal that could be signed by the current U.S. Congress. U.S. House Speaker Paul Ryan has said that the Republican-controlled Congress would need to be notified of a new NAFTA …

Hawaii Volcano Eruption Costs Tourism Industry Millions

People nixing vacations to Hawaii’s Big island has cost the tourism industry millions of dollars as the top attraction, Kilauea volcano, keeps spewing lava. Cancellations from May through July have hit at least $5 million, said Ross Birch, executive director of the island’s tourism board. The booking pace for hotels and other activities, such as …

Study Finds Uber’s Growth Slows After Year of Scandal; Lyft Benefits

Uber Technologies’ growth has slowed as a series of scandals has allowed the ride-hailing company’s chief U.S. competitor, Lyft, to grab more market share, digital research firm eMarketer said in a report on Monday. The research firm has lowered its forecasts for Uber’s growth for the next several years. It projects 48 million U.S. adults …

Trump Urges Quick NAFTA Resolution in Talks with Trudeau

U.S. President Donald Trump urged for a quick conclusion to a renegotiated North American Free Trade Agreement during a phone call Monday with Canadian Prime Minister Justin Trudeau.  The White House said Trump “underscored the importance” of quickly reaching a deal, while Trudeau’s office said the two spoke of the “possibility of bringing the negotiations …

Management Training in India Aims to Empower Professional Women

There’s a push to level the playing field for women in India, where women account for 42 percent of university graduates but only 24 percent are hired as entry level professionals. Of these, 19 percent are likely to reach senior level management. To make matters worse, the number of women who leave the work force …

Latest Round of NAFTA Talks Ends Without Breakthrough

Senior officials from the United States, Canada and Mexico ended the latest round of talks on the North American Free Trade Agreement without any major breakthroughs on how to renegotiate the deal. U.S. Trade Representative Robert Lighthizer said Friday after a week of talks in Washington that the United States will continue to work with …

UK’s May, Trump Agree Talks Needed Over Iranian Sanctions

British Prime Minister Theresa May and U.S. President Donald Trump agreed in a phone call Friday that talks were needed to discuss how U.S sanctions on Iran would affect foreign companies operating in the country. Trump’s decision to pull the United States out of the Iranian nuclear deal and revive U.S. economic sanctions has alarmed the leaders of Britain, …

Minister: Mexico Refuses to Be Rushed Into Poor NAFTA Deal

Mexico will not be rushed into revamping the North American Free Trade Agreement (NAFTA) just to get a deal, Economy Minister Ildefonso Guajardo said on Friday ahead of trilateral talks with his U.S. and Canadian counterparts. Guajardo said he would meet at 1 p.m. EDT (1700 GMT) with Canada’s Foreign Minister Chrystia Freeland and U.S. …

World Bank: Kenyan Refugee Camp ‘Open for Business’

Burden or business opportunity? A new U.N.-backed study of refugees from the World Bank’s International Financial Corporation argues for the latter. The IFC researchers examined one of Africa’s oldest and largest refugee camps, Kakuma in northwest Kenya. What they found is a growing consumer base they say is ripe for more private investment in sectors …

UN: Protectionism, Debt Threaten Asia Growth

A senior United Nations official says trade protectionism, rising private and corporate debt, and shortcomings in revenue raising are growing challenges to the economic outlook for the Asia Pacific. Shamshad Akhtar, executive secretary of the UN’s Economic and Social Commission for Asia and the Pacific (UNESCAP), noted the threats of trade wars undermining the region’s …

Mexico Says Time Running Out for Quick NAFTA Deal; Canada Upbeat

Mexico on Thursday indicated time was running out to see whether NAFTA nations could agree a new deal in the short term while Canada struck a upbeat tone, saying top-level talks this week had achieved a great deal. Major differences remain between the three members of the North American Free Trade Agreement after more than …

Energy Stocks Jump on Wall Street After US Quits Iran Deal

Wall Street surged on Wednesday as surging oil prices boosted energy stocks following U.S. President Donald Trump’s decision the previous day to quit a nuclear agreement with Iran. Gains were broad and volume was high, with all but the utilities and telecom sectors advancing as investors who had moved to the sidelines in recent days ahead of Trump’s decision returned to …

Hedge Fund Founder Charged with Mismarking Securities

 A New York hedge fund founder was arrested Wednesday on charges that he exaggerated his company’s performance by over $200 million to impress and preserve investors. Anilesh Ahuja, 49, of Manhattan, was charged with conspiracy, securities fraud and wire fraud. Federal officials said that the founder, chief executive officer and chief investment officer of the …

OPEC Source: Saudi Arabia Will Not Act Alone to Fill Any Iran Oil Shortfall

Saudi Arabia is monitoring the impact of the U.S. withdrawal from the Iran nuclear deal on oil supplies and is ready to offset any shortage but it will not act alone to fill the gap, an OPEC source familiar with the kingdom’s oil thinking said. U.S. President Donald Trump on Tuesday abandoned a nuclear deal …

US Trade Embargo Has Cost Cuba $130B, UN says

A United Nations agency said on Tuesday an “unjust” U.S. financial and trade embargo on Cuba had cost the country’s economy $130 billion over nearly six decades, coming up with the same estimate as the island’s communist government. Although many U.S. allies join Washington in criticizing Cuba’s one-party system and repression of political opponents, the …

Trump to Allow Year-Round Sales of High-Ethanol Gas

President Donald Trump will allow year-round sales of renewable fuel with blends of 15 percent ethanol as part of an emerging deal to make changes to the federal ethanol mandate.   Republican senators and the White House announced the deal Tuesday after a closed-door meeting, the latest in a series of White House sessions on …

US China to Meet for Round 2, But Big Differences Remain

Trade negotiations between China and the United States continue early next week in Washington D.C., but analysts say after the first round, the differences between the two sides are huge. Some believe the differences are so fundamental and big that an escalation of tariffs is unavoidable. According to a widely circulated copy of Washington’s demands, …

Trump Proposing Billions in Spending Cuts to Congress

The Trump administration is unveiling a multibillion-dollar roster of proposed spending cuts but is leaving this year’s $1.3 trillion catchall spending bill alone.   The cuts wouldn’t have much impact, however, since they come from leftover funding from previous years that wouldn’t be spent anyway.   The White House said it is sending the so-called …