Norway's oil revenues are falling, despite devaluation of the Krone and ramping up raw materials production. Oslo is preparing to dive into National Welfare Fund. Politicians demand the country to stray from the resource development model. Net profit of the Norwegian government from its oil and gas assets decreased by 13% in January-September 2015, compared to the same period last year - from...

In the footsteps of Amazon and Google, Wal-Mart is preparing to launch the goods delivery using UAV. Commercial use of drones can bring $ 82.5 billion to the US economy in 10 years. Yet, so far the new industry have been stumbling across state regulators. Last week, the world's largest retailer Wal-Mart ($ 485.65 billion turnover by the end of 2014) asked for permission to test unmanned aerial...

Last batch of statistics on Eurozone’s consumer confidence proved to be very diverse and presented a lot of surprises. The composite index of business and consumer confidence in the Eurozone in October was at the level of 105.9 points against 105.6 points a month earlier, according to the European Commission. The October value of the indicator was the highest since June 2011, as in the previous...

This year, China may overtake Germany and become the world's largest installer of solar panels. However, as companies increasingly need to expand land plots for solar farms, they have to turn to innovative solutions: everything is grown beneath solar-cell arrays - from plants to hairy crabs. This helps companies get around government restrictions on the conversion of agricultural land, enlist...

The days of "cheap and cheerful cars," such as the Honda Civic and Toyota Corolla, may be numbered. They will be replaced by unmanned vehicles developed by Google and Apple, said the Japanese car designer Ken Okuyama, who has developed looks of Ferrari F60 Enzo and Porsche Boxster. In his interview to Reuters, Okuyama believes that changing driving technology also can threaten Japan's position as...

The European court ruled that exchange of the traditional currency for Bitcoins should be exempted from value added tax (VAT). The corresponding decision was published on 22 October at the site of the court. According to the court, Bitcoin and other transactional cryptocurrency should be treated in the same way as ordinary money. The Court considered the issue of Bitcoins exchange taxation in...

Swiss Federal Customs Administration has recorded a record since 2009 quarterly drop in Swiss watch exports. Experts believe it is the result of several reasons: strengthening the franc, reducing demand in China and, unlikely as it may seem, competition from Apple Inc. According to the Federal Customs Administration of Switzerland (AFD)’s data, published today, Swiss watch exports fell in the...

YouTube has long ceased to be a place with home videos and jokes with cats. Bloggers use the site to upload quality video production, which brings millions of dollars. Forbes magazine has made a rating of the richest “youtubbers”. YouTube is not just a portal, but also an entire ecosystem, a separate networked world. Not only can a member of the team, but also an independent content creator...

Paal Kibsgaard, the head of the world's largest oilfield services company Schlumberger, reporting on the results of the third quarter, said there won’t be any recovery of the global oil and gas industry in the near future. According to him, "the situation on the market is becoming more and more difficult, and the activity on it is expected to decrease even more." On Thursday, the world's largest...