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Inconsistent efforts by U.S. states to contain pandemic will likely prolong recession: Fed official

WASHINGTON, Aug. 12 (Xinhua) -- Limited or inconsistent efforts by U.S. states to contain the COVID-19 pandemic will likely prolong the economic recession, a senior U.S. Fed official said on Wednesday.


U.S. consumer prices jump in July, weak demand to keep inflation under control

WASHINGTON, Aug. 12 (Xinhua) -- U.S. consumer prices jumped in July, but weak demand and the lapse in enhanced unemployment benefits will keep inflation under control, economists said.


Petrostates glimpse their peak-oil future

GENEVA: From Baghdad and Algiers to Caracas, many of the world’s oil capitals are experiencing a summer of discontent. It could be a glimpse of their future.


Roundup: Iraq reports highest daily COVID-19 infections as Turkey announces economic recovery from outbreak

CAIRO, Aug. 10 (Xinhua) -- Iraq confirmed on Monday 3,484 new COVID-19 infections, the highest daily increase since the outbreak of the deadly disease in the country. Meanwhile Turkish President Recep Tayyip Erdogan announced his country's ongoing economic recovery from the pandemic.


Egypt’s real rates are world’s highest

CAIRO: Consumer prices in urban parts of Egypt grew at the slowest annual pace since November as the global pandemic weighed on demand and food costs declined.