Dubai, United Arab Emirates | AFP | The $680 million Venice development four kilometres (2.5 miles) off Dubai will have capacity of 3,000 visitors. Real estate is a mainstay in Dubai which has the most diversified economy in the oil-rich Gulf, with oil sales bringing in under 10 percent of state …
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Washington, United States | AFP | Florida insurance companies appear to have avoided what could have been a catastrophic hit after damage estimates from Hurricane Irma on Monday fell sharply due to last-minute shifts in the storm’s trail of destruction. The storm spared cities on Florida’s eastern coast, which analysts …
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Beijing, China | AFP | China’s factory price inflation, a key barometer of the industrial sector, accelerated sharply in August, reflecting strong demand and a reduction in excess capacity which has plagued China’s economy. The producer price index (PPI), which measures costs for goods at the factory gate, rose 6.3 percent …
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Caracas, Venezuela | AFP | Venezuelan President Nicolas Maduro announced Friday his government will sell oil and other commodities in currencies other than the dollar, in a bid to weather US-imposed sanctions on the embattled country. “I have decided to start selling oil, gas, gold and all other products that Venezuela …
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Madrid, Spain | AFP | International tourist numbers grew 6.4 percent in the first half of 2017, the strongest half-year figures in seven years, with Mediterranean destinations posting double-digit growth, the UN World Tourism Organisation said Thursday. The number of international tourists surged to around 598 million between January and …
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Johannesburg, South Africa | AFP | Business confidence in South Africa has plummeted to its lowest level in more than 30 years as political uncertainty, unemployment and dwindling trade weighed heavily, a survey showed Wednesday. South Africa’s economy, which is the most developed in Africa, is plagued by sluggish growth …
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Abuja, Nigeria | AFP | Nigeria and South Africa have both exited recession, notching up economic growth of 0.6 percent and 2.5 percent respectively in the second quarter, official data showed on Tuesday. Nigeria’s economy returned to growth after five consecutive quarters of contraction, driven by a strong performance in …
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Caracas, Venezuela | AFP | After decades of being Venezuela’s cash cow, the state oil company PDVSA is a ragged shadow of its former self: overburdened, underfed, and in hock to Russian and Chinese creditors. The woes of the group, whose full name is Petroleos de Venezuela S.A., look set to …
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Riyadh, Saudi Arabia | AFP | Fizzing with boyish exuberance, Saudi programmer Zainalabdin Tawfiq could be mistaken for a college freshman, but the popularity of his “honesty” app has shone a spotlight on the conservative kingdom’s nascent tech scene. Tawfiq catapulted to fame when he took time out of his day …
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Johannesburg, South Africa | AFP | A long-running corruption scandal in South Africa has embroiled President Jacob Zuma, senior ministers and the wealthy Indian Gupta brothers — but now Zuma’s own son has taken centre-stage. Duduzane Zuma, a 35-year-old businessman with a playboy reputation, is alleged to be the key contact …
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