World Economic News

President Barack Obama has called for a new comprehensive infrastructure plan as part of efforts to jump-start the spluttering US economy.

The plan will invest about $50bn (£32.5bn) in roads, railways and airports as well as high-speed rail and the creation of an infrastructure bank.

US infrastructure has long been considered underfunded and receives poor grades from government agencies.

The move comes amid signs that the… more...

The end of the scrappage scheme meant a sales fall was expected

New car sales fell sharply in August for the second consecutive month, figures from the Society of Motor Manufacturers and Traders have shown.

Dozens of fishing communities have been affected by the BP oil spill

The BP well which spilled 206m gallons of oil into the Gulf of Mexico poses no further risk to the environment, says the

The blowout preventer is being slowly raised to the surface

BP has replaced a damanged blowout preventer that failed to stop oil from leaking into the Gulf of Mexico when a drilling rig exploded in April.

The 300-ton… more...

Mr Aganga says countries like Brazil, Germany and China all want to invest in Nigeria

Nigeria’s economy will hit double-digit growth by the end of 2011 or early 2012

Construction orders were well down in the second quarter

New UK data shows a surprise decline in new construction orders and a sharp slowdown in the services sector.

Construction orders fell 14% in the second quarter - their first fall… more...

High unemployment is undermining the US recovery

The US economy shed another 54,000 jobs in August, the third month in a row that jobs have been lost, Labor Department figures have shown.

As a result of the overall fall in job numbers, the unemployment… more...

Fivers have a shorter lifespan than other banknotes

All banks and building societies have put in place plans to begin dispensing £5 notes from cash machines, a report has revealed.

Various consumer surveys have suggested that increasing availability of the banknotes from… more...

Queues have formed outside Kabul Bank after two key executives resigned

The governor of Afghanistan’s central bank has told the BBC he will not allow the country’s largest commercial bank to collapse.

His comments follow the… more...

Russia will consider lifting its grain export ban only after the next year’s harvest has been reaped, Russian Prime Minister Vladimir Putin has said.

Mr Putin did not say when exactly the ban, originally introduced from 15 August to 31 December, would be lifted.

Global wheat prices have risen by 1.4% on Thursday, after gaining more than 3% during the previous session.

Russia, one of the… more...