New figures show the 17-nation eurozone slipped into recession in the third quarter. Southern Europe has seen years of weak or negative economic growth, and now the slowdown is spreading to northern economies.
In 2013, governments in Europe were able to substantially lower their budget deficits, according to the latest EU data. Nevertheless, EU countries are still laboring under huge and even burgeoning debt mountains.
Africa has a new economic frontrunner. Nigeria has released figures suggesting the oil-rich country has overtaken South Africa in terms of gross domestic product. But do the numbers reflect reality?
Nigeria has overtaken South Africa as the continent's largest economy, according Nigeria's statistics agency. It said its fresh calculation had shown nearly a doubling of Nigeria's gross domestic product.
The Palestinian Authority has unveiled plans to explore for oil in the West Bank, which it says is a key step toward developing the local economy and gaining independence from Israel.
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