На українському міжбанківському валютному ринку триває знецінення гривні. Станом на 11:00 котирування становили 26 гривень 50-52 копійки, повідомляє профільний сайт «Мінфін», який відстежує перебіг торгів. Це майже на 20 копійок вище за офіційний курс, встановлений Національним банком України на 24 травня, – 26 гривень 33 копійки за долар. Довідкове значення курсу, яке регулятор оприлюднив опівдні 24 травня, становить 26 гривень 49 копійок. Українська валюта двічі цього місяця повторювала річний максимум щодо долара США – 26 гривень 11 копійок. Такі офіційні курси НБУ встановлював на 21 травня 2018 року, 14 та 22 травня 2019 року. …
«Приватбанк» позивається до Коломойського та Боголюбова у суді США
Український державний «Приватбанк» позивається в суді в американському штаті Делавер до своїх колишніх власників – олігарха Ігоря Коломойського та його бізнес-партнера Геннадія Боголюбова. Позов був поданий через день після того, як шостий президент України Володимир Зеленський склав присягу. У судовому позові «Приватбанк» звинувачує двох українців, а також трьох резидентів американського штату Флорида, в шахрайстві та відмиванні грошей. Ці дії майже знищили фінансову установу, йдеься в документах, що перебувають у суді. «Приватбанк» вважає Коломойського та Боголюбова винними в наданні кредитів компаніям, які вони контролювали, з наступним відмиванням цих грошей через підприємства штату Делавер для придбання активів у США. «Приватбанк» стверджує, що ці особи «використовували банк як власну скарбничку – в кінцевому рахунку вкравши мільярди доларів з «Приватбанк» і використавши американські фірми, щоб відмити сотні мільйонів доларів незаконно привласнених кредитних надходжень». Коломойський і Боголюбов не були доступні для коментарів після оприлюднення цих звинувачень. Національний банк України за результатами незалежного аудиту націоналізував «Приватбанк» у 2016 році, після цього регулятор надав фінансовій установі приблизно 6 мільярдів доларів українських платників податків, щоб не допустити його краху. Український суд у квітні постановив, що аудит, за результатами якого відбулася націоналізація, був неналежним, це збільшує шанси Коломойського повернути контроль над банком. Коломойський повернувся в Україну після майже дворічної відсутності, коли 21 квітня перемогу на президентських виборах здобув актор та бізнесмен Володимир Зеленський. Нового главу держави пов’язує з Коломойським те, що комедійне шоу Зеленського виходить на телеканалі, який належить Коломойському. Також Зеленський призначив адвоката Коломойського Андрія Богдана головою своєї адміністрації. Зв’язки Зеленського з Коломойським викликають занепокоєння щодо того, що …
Anacondas Born to ‘Virgin Mother’ at Boston Aquarium
Anna, a female green anaconda that has lived most of her life in an all-female enclosure at the New England Aquarium, has given birth. The anaconda produced 18 snakes in early January. A DNA test has confirmed that the births were a result of a nonsexual reproduction process known as parthenogenesis, or “virgin birth,” according to the aquarium. Parthenogenesis commonly occurs in the plant world and among animals without a backbone, but is rare among vertebrates. The process has been documented only among lizards, birds, sharks and snakes. The phenomenon involving Anna is the second known confirmed case of parthenogenesis for a green anaconda. The first was at a British zoo in 2014. Only two of Anna’s 18 offspring have survived. Aquarium staff said the young snakes are clones of their mother. Limited genetic sequencing shows complete matches on all the sites tested. …
Scientists: Chile’s Southern Patagonia Ice Field Ruptured by Climate Change
Chile’s 12,000 square kilometer (4,633 square mile) Southern Patagonia Ice Field split in two and is likely to continue to fracture amid climate change, according to a team of Chilean scientists who were in the region in March. Gino Casassa, chief of the Snow and Glacier Division of Chile’s DGA water authority, told Reuters increasing temperatures along the Andes Mountains in southern Chile and Argentina have meant less snow and ice to replenish the region’s abundant glaciers. “What occurred is a fracture as the ice has retreated, Casassa said. The chunk of ice that split off from the main glacier was estimated at 208 square kilometers (80.3 square miles), a relatively small part of the ice field. But Casassa said it may be a sign of things to come. The ice field, he said, is now “split in two, and we’ll likely discover further divisions to the south,” he said. Two icebergs broke off the Grey Glacier in southern Chile’s Torres del Paine National Park earlier this year, adding to fears that such ruptures are becoming more frequent. …
Trump ‘Honored’ to Provide US Farmers with $16 Billion in Aid
President Donald Trump says he is “honored” to give U.S. farmers hurt by the trade war with China another $16 billion in aid. Flanked by potato growers, ranchers and dairymen in the White House, Trump said Thursday the aid “will help keep our cherished farms thriving and make clear that no country has a veto on America’s economic and national security.” Trump added that trade has been “very unfair” to the farmers who he says support him politically. This is the second multibillion-dollar bailout the Trump administration has provided to U.S. farmers who have seen Chinese markets for their products dry up because of tariffs China imposed on U.S. goods to retaliate for U.S. tariffs on Chinese products. The White House gave farmers $12 billion last year. U.S. Agriculture Secretary Sonny Perdue says farmers should see the first installment of the new $16 billion in aid in July or August. Perdue said he doubts if the United States and China can reach a trade deal by then. Most of the money will go to farmers who grow and sell such crops as soybeans, corn, peanuts and wheat. Money will also be set aside to buy excess products from the farmers and send them to schools and food banks. “I can’t recall a president more concerned about farmer well-being. We are working hard to assess trade damages and this package ensures farmers will not bear the brunt,” Perdue said. While Trump said Thursday that many farmers told him he is “doing …
East Africa Closer to Banning Hydroquinone Skin-Lightening Products
East African countries are set to ban skin-lightening products that contain hydroquinone, a medical agent linked to health problems when used in high concentrations. The East African Legislative Assembly last week passed a resolution calling for a region-wide ban on the manufacturing and importation of products containing hydroquinone. At a beauty parlor in Arusha, 52-year-old Rose Mselle has been using skin-bleaching products since she was a teenager. She says women like her want to be beautiful “And in the process of looking for beauty, or for our skin color to shine, we use things that we shouldn’t,” she added. At a nearby market, 32-year-old clothing vendor Janet Jonijosefu used skin-lightening products that contain hydroquinone, a medical agent used to treat dark spots, for years. She stopped after her skin became fragile. She said the beauty products containing hydroquinone badly affected her skin. She started developing patches on her face. She went to the doctor and was advised to stop using products containing hydroquinone and instead use aloe vera. Skin-lightening products often use high concentrations of hydroquinone, which can cause skin problems or become toxic when mixed with other bleaching chemicals. Ghana, Ivory Coast, Kenya, Nigeria, Rwanda, and South Africa ban or regulate the agent in cosmetics. Tanzania bars imports. The East African Legislative Assembly last week passed a resolution on a region-wide ban of hydroquinone’s manufacture and importation. Suzan Nakawuki, a member of the regional assembly from Uganda, noted that hydroquinone is not only used by women but also men. “We …
WHO Certifies Algeria, Argentina Free of Malaria
The World Health Organization has certified Algeria and Argentina as malaria-free, following three consecutive years where no new cases of the deadly disease have been reported. The malaria parasite, which kills more than 400,000 people each year, was discovered in Algeria in 1880. Most of the victims are children under the age of five in Africa. The World Health Organization reports Algeria is the second country in Africa to be recognized as malaria-free after Mauritius, which was certified in 1973. Argentina is the second country in South America, after Paraguay, to be declared malaria-free. A combination of many factors has made the achievements possible, according to WHO spokeswoman Fadela Chaib. “It is very good news for Algeria and Argentina, but also for the two continents and globally also,” Chaib told VOA. “It means that malaria can be beaten. But the efforts should continue because we need also to enhance surveillance to be able to detect if any cases of malaria are still present in the country.” WHO says the two countries eliminated malaria by employing a number of basic, well-proven measures, including insecticide-treated mosquito nets. It says both countries improved surveillance, which enabled them to rapidly identify and treat new cases of malaria. In addition, the two countries provided free diagnosis and treatment within their borders. In the case of Argentina, WHO says cross-border collaboration with its neighbor Bolivia was critical in combating the disease. It says both countries teamed up to spray more than 22,000 homes in border areas …
Україна має восени почати переговори з МВФ про нову програму – Світовий банк
Україна восени може почати переговори з Міжнародним валютним фондом про нову програму фінансування. Про це розповіла директор Світового банку у справах України, Білорусі та Молдови Сату Кахконен на презентації оновленого економічного прогнозу для України в Києві. «Восени мають розпочатися переговори про довгострокову програму з МВФ, тому що є необхідність продовжити співпрацю», – зазначила вона. За словами Каїконен, у Світовому банку сподіваються, що новий уряд дотримуватиметься умов програми МВФ. Місія Міжнародного валютного фонду розпочала роботу в Україні 21 травня. Представник МВФ в Україні Йоста Люнгман заявляв, що місія перебуватиме в Україні два тижні й оцінюватиме виконання поточної програми співпраці з фондом. Читайте також: Відставка уряду Гройсмана може призвести до втрати Україною траншу МВФ (огляд преси) Вранці 22 травня агентство «Українські новини» написало, що місія МВФ «сьогодні чи завтра повертається до Вашингтона» у зв’язку з рішенням розпустити парламент та через певні кадрові призначення в Адміністрації президента. Водночас у прес-службі МВФ Радіо Свобода запевнили, що експерти Міжнародного валютного фонду «продовжують зустрічі з представниками влади України». Прес-служба президента України повідомила, що Володимир Зеленський планує зустрітися з представниками Міжнародного валютного фонду наступного тижня. Читайте також: П’ять економічних викликів для нового президента 18 грудня 2018 року посол України у США Валерій Чалий повідомив, що в штаб-квартирі Міжнародного валютного фонду у Вашингтоні затвердили виділення Україні фінансової підтримки для продовження реалізації важливих реформ. Обсяг нової програми – 3,9 мільярда доларів. Згідно з повідомленням, вона має стати основою для економічної політики уряду в 2019 році – передбачається, що ця політика буде зосереджена на зниженні інфляції та реформах оподаткування, фінансового і енергетичного секторів. 21 грудня Україна отримала перший транш за новою програмою співпраці з …
Mass Cleanup of Italian Beaches Planned for Weekend
Every year, 8 million tons of waste suffocate beaches and sea beds, says Italy’s environment league, Legambiente. Its Beach Litter report issued this week revealed that more than 80 percent of the waste found on 93 beaches was plastic. A mass cleanup is planned next weekend, involving thousands of volunteers on 250 beaches and coastal sites. Legambiente, which organized the effort, also urged the government to approve the Salvamare (Save Our Seas) bill that would allow fishermen to bring to shore any plastic that ends up in their nets, without having to pay for disposal costs. Greenpeace Italy sounded its alarm this week when a young sperm whale washed ashore on a Sicilian beach with plastic in its stomach. Giorgia Monti, campaign manager for Greenpeace, said five sperm whales had beached in the last five months in Italy. She could not confirm whether plastic was the cause of the death of the last whale found, but said it was very likely. “The sea is sending us a cry of alarm, a desperate SOS,” Monti said. Later this month, Greenpeace is launching an effort to monitor plastic pollution levels at sea, with a focus on the west coast of Italy. To stem the tide of plastic waste, initiatives have been spearheaded across Italy. Among new technology to combat pollution in many Italian ports are filters called sea-bins, which are active 24 hours and able to capture more than 1.5 kilograms of plastic daily. While campaigners say much more …
Місія МВФ продовжує роботу в Україні – Смолій
Місія Міжнародного валютного фонду продовжує роботу в Україні. Про це на прес-конференції в Києві заявив глава Національного банку України Яків Смолій. «Місія МВФ зараз перебуває у Києві, проводяться консультації, переговори. Обговорюються економічна ситуація, яка склалась на сьогодні. Щойно у нас будуть які-небудь новини щодо роботи місії, я у першу чергу повідомлю про це на своєму особистому аккаунті у Twitter», – повідомив Смолій. Місія Міжнародного валютного фонду розпочала роботу в Україні 21 травня. Представник МВФ в Україні Йоста Люнгман заявляв, що місія перебуватиме в Україні два тижні й оцінюватиме виконання поточної програми співпраці з фондом. Читайте також: Відставка уряду Гройсмана може призвести до втрати Україною траншу МВФ (огляд преси) Вранці 22 травня агентство «Українські новини» написало, що місія МВФ «сьогодні чи завтра повертається до Вашингтона» у зв’язку з рішенням розпустити парламент та через певні кадрові призначення в Адміністрації президента. Водночас у прес-службі МВФ Радіо Свобода запевнили, що експерти Міжнародного валютного фонду «продовжують зустрічі з представниками влади України». Прес-служба президента України повідомила, що Володимир Зеленський планує зустрітися з представниками Міжнародного валютного фонду наступного тижня. Читайте також: П’ять економічних викликів для нового президента 18 грудня 2018 року посол України у США Валерій Чалий повідомив, що в штаб-квартирі Міжнародного валютного фонду у Вашингтоні затвердили виділення Україні фінансової підтримки для продовження реалізації важливих реформ. Обсяг нової програми – 3,9 мільярда доларів. Згідно з повідомленням, вона має стати основою для економічної політики уряду в 2019 році – передбачається, що ця політика буде зосереджена на зниженні інфляції та реформах оподаткування, фінансового і енергетичного секторів. 21 грудня Україна отримала перший транш за новою програмою співпраці з Міжнародним валютним фондом обсягом близько 1,4 …
Гривня далі слабшає на міжбанку
На українському міжбанківському валютному ринку триває послаблення гривні. За даними профільного сайту «Мінфін», який відстежує перебіг торгів, станом на 12:00 котирування сягнули показників 26 гривень 31-33 копійки за долар. Національний банк України опівдні встановив довідкове значення курсу на рівні 26 гривень 32 копійки за долар, це на дві копійки більше, ніж офіційний курс на 23 травня. «Найвагомішим мотиватором поведінки учасників ринку в четвер буде наближення виплат основних сум відшкодувань ПДВ. Майбутні гривневі надходження стимулюють експортерів до притримування валюти, що на тлі стабільного обсягу попиту працює проти гривні», – вказують фахівці. Українська гривня двічі в травні перебувала поблизу річного максимуму щодо долара США. Спершу національна валюта повторила показник, зафіксований 21 травня 2018 року, а цього тижня НБУ зафіксував новий максимум – 26 гривень 10 копійок за долар. …
Belgian Monks, Israeli Researchers Tackle Ancient Beer-Brewing Traditions
A Belgian abbey is reviving its centuries-old tradition of beer-making after 220 years. The monks at Grimbergen Abbey are using ancient recipes to offer specialty beers in their new microbrewery. Meanwhile, researchers in Israel have made beer with yeast from jars that are thousands of years old. Beer is one of the oldest beverages, but producers are making new and attractive brews. As VOA Zlatica Hoke reports, there is a growing interest in traditional beers and the history of brewing. …
South African Vet Pioneering Medicine for Africa’s Endangered Pangolins
Veterinarian Dr. Karin Lourens has become known as Africa’s “pangolin doctor” for leading medical efforts to help the scaly anteaters rescued from the illegal wildlife trade to recover. Her pioneering tube-feeding and blood testing is helping to improve her endangered patients’ survival rate. Marize de Klerk reports for VOA from Johannesburg. …
UK Study: E-Cigs can Double Success Rates of Quitting Smoking
People using e-cigarettes to quit smoking are about 95% more likely to report success than those trying to quit without help from any stop-smoking aids according to the results of a large study in England. The research, funded by the charity Cancer Research UK and published in the journal Addiction on Thursday, analyzed success rates of several common stop-smoking methods – including e-cigarettes, nicotine replacement therapy (NRT) patches and gum, and Pfizer’s varenicline, sold as Champix in the UK. It also adjusted for a wide range of factors that might influence success rates for quitting – such as age, social level, degree of cigarette addiction, previous attempts to quit, and whether quitting was gradual or abrupt. Latest World Health Organization data show that smoking and other tobacco use kills more than 7 million people a year globally. Of the 1.1 billion people worldwide who smoke, around 80 percent live in poor or middle-income countries. E-cigarettes have no tobacco, but contain nicotine-laced liquids that the user inhales in a vapor. Many big tobacco companies, including British American Tobacco, Imperial Brands and Japan Tobacco, sell e-cigarettes. This study involved almost 19,000 people in England who had tried to quit smoking in the preceding 12 months, collected over a 12-year period from 2006 to 2018. Successful quitters were defined as those who said they were still not smoking. As well as the 95% increased success rate for e-cigarettes, the study found that people prescribed Champix were around 82% more likely to have succeeded …
Canada, Europe to Choose When 737 MAX Is Safe as Regulators Meet
In a potential challenge to U.S.-led efforts to build consensus on the Boeing Co 737 MAX flying again, Canada and Europe said on Wednesday they would bring back the grounded aircraft on their own terms if their specific concerns are not addressed. Global regulators will meet in Fort Worth, Texas, on Thursday where the U.S. Federal Aviation Administration hopes to reach an international consensus on how to move forward with the MAX, U.S. officials told Reuters. The plane was grounded worldwide in March following a fatal Ethiopian Airlines crash just months after a similar Lion Air disaster in Indonesia which together killed 346 people. Global airlines that had rushed to buy the fuel-efficient, longer-range aircraft have since canceled flights and scrambled to cover routes that were previously flown by the MAX. “From our point of view, if we all work together and we all reach the same aim, fine. If we don’t, we’ll choose our own time to decide when the planes are safe to fly again,” Canadian Transport Minister Marc Garneau told Reuters in an interview. “The number one focus for us is that we in Canada must be satisfied. It doesn’t matter what others do. So if we are not perfectly synchronized with certain other countries that’s how it going to be,” Garneau said. Regulators are expected to discuss Boeing’s proposed software fix and new pilot training that are both key to re-starting flights. Boeing has not yet formally submitted its proposals to the FAA. A spokesman for …
Britain’s May Faces Calls to Resign After Revised Brexit Plan Unveiled
British lawmakers are denouncing Prime Minister Theresa May’s latest proposal to withdraw from the European Union (EU) amid growing demands from her own Conservative Party for her resignation. May said on Tuesday a bill she plans to present to Parliament next month would include a provision to vote on whether to hold a second referendum to leave the EU, a key demand of many opposition lawmakers. May also offered closer trading arrangements with the EU as another incentive in what she called a “last chance” opportunity to finalize a Brexit deal. Speaking before the House of Commons on Wednesday, May implored lawmakers to support her bill, warning a rejection would lead to “division and deadlock.” May said her withdrawal bill would be disclosed Friday so that lawmakers would have time to study it. Legislators previously spurned May’s exit deal three times and her latest attempt to win support faces an uphill fight. She plans to ask lawmakers to vote on the bill again during the week of June 3. Members of May’s own Conservative Party accused her of relenting to pro-EU demands while opposition Labour Party lawmakers rejected her latest plan as too little too late. On Tuesday, May said after Parliament votes on the measure, she will establish a timetable for her departure as leader of the Conservative Party and as prime minister. A growing number of Conservative Party members, however, are pressing her to cancel the vote and step down sooner. May is likely to face even more …
Долар різко зріс на міжбанку
На українському міжбанківському валютному ринку 22 травня відбулося стрімке зростання котирувань долара. Станом на 15:00 торги відбувалися на позначках 26 гривень 28-30,5 копійки за долар, повідомляє профільний сайт «Мінфін». Опівдні Національний банк України встановив довідкове значення на рівні 26 гривень 30 копійок за долар, це на 19 копійок більше за офіційний курс, встановлений на 22 травня. Фахівці пов’язують послаблення гривні з тим, що нерезиденти, які брали участь у купівлі українських цінних паперів на черговому аукціоні з розміщення облігацій внутрішньої державної позики (ОВДП), за 20 і 21 травня продали необхідний обсяг валюти на міжбанку для забезпечення сьогоднішніх оплат у гривні 22 травня. Також на курс впливає наближення періоду основних відшкодувань ПДВ експортерам. …
Seeking Energy Independence, Palestinians Open Solar Plant
Palestinian officials say they have inaugurated their first solar panel plant as part of a plan to reduce their dependence on Israeli power sources. Mohammed Mustafa, head of the government’s investment fund, says that Tuesday’s plant opening in the ancient West Bank city of Jericho is one of four planned plants. One has been donated from China. He says the Palestinians rely almost entirely on power imported from Israel and the new plants are part of a long-term project to reduce that by 50% over the next decade. He says the four solar panel stations should cover about 30% of Palestinian power consumption. Mustafa says the West Bank consumes about $700 million a year in electricity. …
Research on Children’s Health Risks in Doubt Over EPA funds
Long-running research projects credited with pivotal discoveries about the harm that pesticides, air pollution and other hazards pose to children are in jeopardy or shutting down because the Environmental Protection Agency will not commit to their continued funding, researchers say. The projects being targeted make up a more than $300 million, federally funded program that over the past two decades has exposed dangers to fetuses and children. Those findings have often led to increased pressure on the EPA for tighter regulations. Children’s health researchers and environmental groups accuse the EPA of trying to squelch scientific studies that the agency views as running counter to the Trump administration’s mission of easing regulations and promoting business. “A lot of the centers, including mine, have identified a lot of chemicals that are associated with diseases in children,” said Catherine Metayer, an epidemiologist who directs research into children’s leukemia at University of California at Berkeley through the federal program. The EPA awarded smaller than average funding for the research grants for this year, asked Congress to cut funding for it from its budget, and has refused to commit to future funding for the program. “The EPA anticipates future funding opportunities that support EPA’s high priority research topics, including children’s health research,” spokesman James Hewitt said, while declining to answer questions on the future for the national research projects. Children’s centers at universities around the country typically get joint funding from the EPA and National Institute of Environmental Health Sciences in three- and five-year packages, …
Jamie Oliver’s British Restaurant Chain Collapses
Celebrity chef Jamie Oliver’s restaurant chain in Britain has filed for bankruptcy protection, closing 22 of its 25 eateries and leaving some 1,000 people out of work. The remaining outlets, two Jamie’s Italian restaurants and a Jamie’s Diner at Gatwick Airport outside London, will stay open, the financial firm KPMG, which will oversee the process, said in a statement Tuesday. Oliver said on Twitter he was “devastated that our much-loved UK restaurants have gone into administration,” a form of bankruptcy protection, and thanked people “who have put their hearts and souls into this business over the years.” Oliver gained fame as “The Naked Chef” on television, which aired in dozens of countries, after premiering in Britain some 20 years ago. The television success was followed by a number of cookbooks. The restaurant chain included Jamie’s Italian, Jamie Oliver’s Diner and Barbecoa steakhouses. Five branches of the Australian arm of Jamie’s Italian have also been sold and another put into administration. Oliver’s restaurants started to lose revenue in 2016. Business got so bad for the restaurant group that Oliver injected millions of dollars of his own money in an effort to turn the tide. “The current trading environment for companies across the casual dining sector is as tough as I’ve ever seen,” Will Wright, an administrator at KPMG, said in a statement. “The directors at Jamie Oliver Restaurant Group have worked tirelessly to stabilize the business against a backdrop of rising costs and brittle consumer confidence.” Other British chains have also …
On World Bee Day, Worrying Developments for the World’s Pollinators
As the world marks Bee Day this week (May 20), it’s a good opportunity to check in on these industrious insects that are responsible for about 80 percent of all pollination worldwide. But something is wrong with the world’s bees and our existence might depend on figuring out why. VOA’s Kevin Enochs reports. …
Bloomberg: US May Pay $2 Per Bushel for Soybeans to Help Farmers
The Trump administration is considering payments of $2 per bushel for soybeans, 63 cents per bushel for wheat and 4 cents per bushel for corn as part of a package of up to $20 billion to offset U.S. farmers’ losses from the trade war with China, Bloomberg reported on Tuesday. Caitlin Eannello, spokeswoman for the National Association of Wheat Growers, said that 63 cents per bushel for wheat is the number the organization has been hearing for the next round of U.S. trade aid. “That is the number that we’ve been hearing, she told Reuters. Those payments would exceed the rates paid last year to farmers in a similar aid package. President Donald Trump earlier this month directed the Department of Agriculture to work on a new aid plan for farmers as Washington and Beijing intensified their 10-month-old trade war by raising tariffs on each other’s goods. Agriculture Secretary Sonny Perdue last week said the new aid package was likely to be $15 billion to $20 billion, exceeding the up to $12 billion in aid rolled out last year to farmers. Most of it was likely to be direct payments, sources told Reuters. A spokeswoman for the Department of Agriculture said the details of the aid package would be released soon, without commenting on the reported payment rates. One lobbyist source said the plan was likely to be announced this week. The USDA spokeswoman added that the aid was designed to avoid skewing planting decisions. “Farmers should continue to make …
Portugal’s Economy Rebounds, Though Problems Persist
The Portuguese economy is resisting the prevailing gloom in Europe. Activity remained strong, with GDP rising by 0.5% in the first quarter, or 1.8% at an annual rate, compared with 1.2% in the euro zone, forecasts Brussels. Following the trend of 2018, Portugal’s good economic health comes mainly from private consumption fueled by rising wages and employment dynamics. The preliminary data, says the national statistics institute, “reflect a significant acceleration in investment.” The government deficit has fallen from 7.2% of GDP to 0.5% of GDP since 2014, and the unemployment rate from a peak of 17.9% in early 2013, to about 6% currently. “The tourism sector has been the largest driver of the export recovery in Portugal,” Ben Westmore, the head of the Portugal desk in the Economics Department of the OECD, confirmed to VOA. These numbers make Portugal the darling of international financial institutions. The head of the International Monetary Fund, Christine Lagarde, praised Portugal’s economic recovery recently in Lisbon. “Portugal and the Portuguese people deserve huge credit for their efforts, for which they should be proud,” Lagarde said. Low wages Despite the spectacular recovery and the fall of unemployment, a sense of precariousness and low wages are everywhere in Portugal. The minimum wage is only $669 (€600) per month — a number that has not prompted the return of many young adults, who left during the crisis. Between 2008 and 2014, 120,000 people left Portugal per year. Twenty percent were highly skilled workers, according to professor Joao Miguel Trancoso …
US Shoe Industry Protests Possible Tariffs on Chinese Imports
More than 170 American shoe manufacturers and retailers, including such well-known athletic shoe brands as Nike, Under Armour and Adidas, urged President Donald Trump on Tuesday to exempt footwear from any further tariffs he imposes on imported goods from China. The lobby for the shoe industry, the Footwear Distributors and Retailers of America, told Trump in a letter that his proposed 25 percent tariff on shoes imported from China “would be catastrophic for our consumers, our companies and the American economy as a whole.” The industry imported $11.4 billion worth of shoes from China last year, although some manufacturers have been shifting production elsewhere, especially to Vietnam and Cambodia. It said the proposed tariffs on shoes made in China could cost U.S. consumers more than $7 billion annually on top of existing levies. “There should be no misunderstanding that U.S. consumers pay for tariffs on products that are imported,” the 173 companies said, rejecting Trump’s frequent erroneous statement that China pays the tariffs and that the money goes directly to the U.S. Treasury. Trump has been engaged in a string of reciprocal tariff increases with China on imported goods arriving in each other’s ports as the world’s two biggest economies have tried for months — unsuccessfully so far — to negotiate a new trade pact. After Trump imposed new 25 percent taxes on $200 billion worth of Chinese products earlier this month, he also set in motion plans to impose a new round of levies on virtually all Chinese imports, …