Economy

Twenty-one couples have shared a joint wedding in Somalia, where the traditional lavish celebrations are increasingly unaffordable at a time of economic slump. The function was held on Tuesday at a hotel in Hargeisa, capital of Somalia’s breakaway region of Somaliland, and was arranged by Telsom, a telecoms company that employs all the bridegrooms....
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America has begun the initial steps to final outsourcing of it’s last dominant industry. As before, a recession is the key to making the move. Even as we speak, the oil/gas and oil/gas services industries, always a US dominated industry, has begun mass layoffs. From Schlumberger to Baker to Halliburton and dozens of smaller...
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The sharpest contraction in US growth for more than a quarter of a century, a collapse in Japanese factory output and an emergency package of help for the struggling countries in Eastern Europe provided fresh grim evidence today of the paralysis in the global economy. Amid fears that the downturn triggered by the credit...
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