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Between slowed Chinese growth, coronavirus concerns, Brexit uncertainty and U.S. trade tensions, the European Union will struggle to keep the economy of its currency area from further shrinking in 2020.
Upon declaring an "energy emergency," Venezuelan President Nicolas Maduro announced the creation of a new commission to shake up and revamp the country's state-owned oil company, Petroleos de Venezuela SA, Bloomberg reported Feb. 19.
The U.S. Treasury Department's Office of Foreign Assets Control has imposed sanctions on a subsidiary of Russian energy company Rosneft over its role in trading Venezuelan oil, Bloomberg reported Feb. 18.
India is offering to reduce tariffs on U.S.-produced agricultural products and motorcycles as both sides are looking to reach a trade deal before a visit by U.S. President Donald Trump to the country on Feb. 24-25, Bloomberg reported Feb. 17.
In his annual state of the nation address, South African President Cyril Ramaphosa called for a number of new measures to improve the country's embattled economy and electricity grid, including allowing big power-consuming companies, such as mining firms, to build their own power generation capacity, Reuters reported Feb. 14.