The Governor of Puerto Rico, Ricardo Rosselo, published a spending plan of $ 9.6 billion. According to the paper, a fifth of the island state’s budget will be allocated to pay civil servants, as pension funds may lose all funds in July, Bloomberg reports. This is the first budget of the US-dependent territory, since the federal supervisory board has received ample powers to review its expenses...

Indian Prime Minister Narendra Modi's fight with the hidden income of Indian citizens over the past year has contributed to the growth of the number of new taxpayers: they have increased by 9.1 million. This number is almost equivalent to the population of Austria. In November last year, the government of Moody invalidated 86% of the currency in an attempt to crack down on black cash and...

The number of people living in the British capital with a fortune of at least $ 30 million rose again and reached 4,549 people in the last year. According to a study conducted by Verdict.co.uk and WealthInsight, London's closest rival, Tokyo, boasts only 3,611 multimillionaires. Despite the fact that last year the British voted for the withdrawal of their country from the European Union and many...

Foreign Minister Zigmar Gabriel is skeptical about American-European relations. Nevertheless, the German Federal Government stressed the importance of transatlantic relations on Monday. Despite this, the EU has to restart to gain more independence. America had been a bright ideal for Merkel once. Now, however, she declared the end of a reliable relationship between the US and Europe. The words...

Once the power in the US changed, Hispanic inhabitants of the country sharply reduced consumer activity. Consequently, profit of companies targeting this group of people has fallen by 30-50%. The Spanish-speaking people began to spend less, including because of fears of being deported, says British newspaper The Financial Times. Recall, intensification of the fight against illegal immigrants was...

Experts from International Living, which provides emigration and relocation services, have compiled their annual Global Annual Retirement Index. Moving into another country after retirement is a new trend in the world. This is especially popular in the United States. Local pensioners often leave America for cheaper countries, or countries with a more favorable climate. According to official data,...

Italy managed to avoid introduction of EU sanctions because of the excess deficit of the state budget this year. At the same time, however, Rome is recommended to take a series of measures that will result in higher taxes and tariffs in the next year, writes Il Giornale. Brussels demands that Italy bring the deficit of the state budget to 1.2 percent of GDP by 2018, which implies "substantial...

The administration of Donald Trump presented its first budget for the 2018 fiscal year. It involves cuts in social programs’ funding, higher defense spending, as well as new sources of income, including the sale of half of the oil reserves. The budget’s authors relied on acceleration of US GDP growth to 3% and the fact that tax cuts will pay off due to increased fees. Most experts consider such...

Spain's Prime Minister Mariano Rajoy reacted extremely harshly to news that the Catalan authorities had prepared a road map for the region's independence. As El Pais reported yesterday, the Catalans have drafted a bill on "legal transition", which will have to replace the Spanish constitution for the time being. The transition period, during which the new "parliamentary republic of Catalonia"...