Large pharmaceutical companies are systematically criticized for too high drug prices. Corporations justify themselves by the fact that they need to compensate development, testing and product launch. According to Tufts Center for the Study of Drug Development, this process can take up to 10 years, and costs an average of $ 2.6 billion for each drug. In addition, once the patent protection...

OPEC and other oil-producing countries outside the cartel would be able to reach an agreement on the oil output freeze, says Goldman Sachs. The meeting will be held in Algeria within the International Energy Forum in late September. At the same time, the bank experts are sure that the freeze as such would rather play against the OPEC countries, while other oil-producing states would benefit from...

Norges Bank Investment Management ($ 890 billion under management) lowered value of its investment in UK property by 5%. Almost a quarter of all investments in real estate of the Norwegian fund, totaling $ 27 billion, accounted for the UK, in particular, 16% - for London. FT quoted Trond Grande, the bank’s Deputy Chief Executive Officer: "Brexit, in all probability, will have an impact on the UK...

Saudi Arabia has allowed foreigners to participate in IPOs on the country's only stock exchange Tadawul. The largest in the Gulf and one of the most closed markets starts to accept foreign investors in 2017. Saudi Arabia has allowed foreign investors to participate in IPOs of companies on the local stock exchange Tadawul. As reported on the website of the local regulator, the resolution will come...

Chinese state car company will invest 11 billion rand ($ 819 million) in a new plant in South Africa, contributing to further development of one of the fastest growing industries in the continent's largest economy. Beijing Automotive International Corp. (BAIC) made a deal with the Coega Development Corporation - operator of an industrial development zone in Port Elizabeth on the south coast of...

Recently, it seemed that Iraq would never find a way out of crisis. However now, since the situation apparently have calmed down, some foreign companies see opportunities to return to the country. Earlier this year, Iraq was torn by anti-corruption protests, yet now the political situation has become more stable. There has been a partial recovery in oil prices, on which the country's economy...

A record number of potential blockbusters tanked at the box office this year, despite a slight increase in the total box office index, writes The Wall Street Journal. Since beginning of the year, fifteen films with a budget of over $ 100 million fell short of expectations at the box office against a total of eight for the same period last year. Among the most high-profile failures were "The...

Nearly 50% of major banks around the world are not ready to meet new requirements of international financial reporting standards, according to Deloitte. The rules, come into force in 2018, will lead to a sharp increase in reserves. Almost half of large banks around the world have declared ill-preparedness to implement the new International Financial Reporting Standards "IFRS 9 — Financial...

Having abandoned Turkey and Egypt for security reasons, millions of tourists ensured a record popularity of EU countries. The undeniable leader is Spain. The country won most of tourist flows that reoriented from troubled eastern Mediterranean (Turkey, Egypt) and North Africa (Tunisia) to Western Europe. The first half set another record here. During this period, 32.8 million foreign visitors,...