Head of the European Central Bank, Mario Draghi, warned Rome before the official budget presentation: do not expect that the ECB will save the situation. At a press conference held on October 13 at the IMF and World Bank meeting in Bali, Draghi expressed confidence that a budget agreement would be reached, and urged all parties to “moderate the tone.” Draghi also noted that the resonance from the...

Riyadh promised to take serious measures against those who decide on sanctions against the kingdom. An official statement about this was made yesterday, the day after a statement of US President Donald Trump about "severe punishment" for Saudi Arabia, if it is proved that the authorities of this country are involved in disappearance of the famous Saudi journalist Jamal Khashoggi. As more new...

The second major crack in the last three months appeared in the Chinese Belt and Road Initiative. The authorities of Pakistan, which had previously agreed to become the flagship of the project, announced their intention to contact the International Monetary Fund (IMF) for help. The country cannot cope with its foreign debt, the fifth of which consists of loans issued by the PRC. Beijing insists...

Managing Director of the European Stability Mechanism (ESM), Klaus Regling, stated that it is not fair to compare current concerns about the Italian budget deficit and the problems of Greece in the midst of the debt crisis. This is reported by CNBC. Over the past 8 years in the time of the crisis in the euro zone, Italy has never lost access to markets, Regling told CNBC during the annual meeting...

Indirect costs of the United States due to addiction of Americans to opioids amount to $ 500 billion annually. During the 73rd session of the UN General Assembly, US President Donald Trump drew attention of the world community to growth of drug addiction: drugs continue to take lives in the United States and around the world, and illicit drug trafficking is associated with crime, terrorism and...

The US Office of Foreign Assets Control (OFAC) has licensed British companies BP and Serica to develop the large Rhum gas field in the North Sea, in which 50% is owned by the National Oil Company of Iran (NIOC). Now the British can work with the NIOC to develop the field without fear of US sanctions. However, in accordance with the sanctions regime, the funds owed to the Iranian side will be...

The Central Bank of China keeps moderating policy easing, once again reducing reserve requirements for banks. The regulator hopes that this move will expand business access to lending and will compensate for deterioration of business activity against the backdrop of US-imposed trade restrictions. Experts, however, indicate that the effect of lowering requirements will be limited: the Chinese...

Digitalization has added to volume, scope and speed of international trade, significantly reduced cost of participation in it, simplified coordination of global value chains, promoted dissemination of ideas and technologies and establishment of connections between business and consumers around the world, according to the Organization of Economic Cooperation and Development (OECD) report. The...

The presidential race in Brazil reached the finish line: Friday is the last day of campaigning in print media. The elections will be held on October 7, but we can hardly expect to know name of the new President right away. Most likely, the second round will become a competition between the right conservative Jair Bolsonaro, who was nicknamed "Brazilian Trump", and Fernando Haddad from the left...