Development activity of offshore gas fields in the Eastern Mediterranean region is growing. Along with the increase in the volume of geological exploration and taking into account possible construction of a gas pipeline between Israel and Turkey, geopolitical risks are also growing. Commercial prospects attract all parties, but a full-fledged military conflict can begin if Greece, Cyprus and...

Insurance market experts of Lloyd`s of London believe that a global cyber attack can provoke economic losses roughly equal to $ 53 billion. However, this figure may be significantly higher under certain conditions and double the amount of economic damage, for example, from Hurricane Sandy. The world's oldest insurance market, Lloyd`s of London, published a report in which the company's...

The international rating agency Fitch Ratings warned that the growing debt burden represents a serious threat to global financial stability. More than 20% of the countries assessed by the agency in 2017 will achieve the maximum debt-to-GDP ratio. It is expected that more than 75% of developed sovereign markets, estimated by Fitch, will have a weaker primary balance in 2017 compared to 2016. This...

The opposition forces of Venezuela held an informal national referendum yesterday. Although the results are still unknown, it is clear that the referendum will help to identify attitude of citizens to the authorities' attempts to establish a so-called Constitutional Assembly. The Assembly will be entrusted with making fundamental changes to the constitution. The plebiscite, organized by the...

President of the United States Donald Trump has arrived in Paris on his first visit. Against the backdrop of growing “Russian” problems, Donald Trump is earning points abroad, namely in France, the country of which he has previously spoken derogatory. After Donald Trump nearly broke ties with another informal leader of the EU, German Chancellor Angela Merkel, French President Emmanuelle Macron...

The euro area should have a limited joint budgetary capacity to support individual member states in the event of a sudden crisis, head of the block's rescue fund said on Thursday before a meeting of leaders of France and Germany. Answering the question of whether German Chancellor Angela Merkel should support French President Emmanuel Macron in his bid to introduce a position of a single...

Energy-intensive data centers are necessary for all web platforms, be it small-scale services or Google and Facebook. Once the main criterion for placing data centers was proximity to the client, but as demand increased and telecommunication technologies developed, costs began to play a decisive role in the data center’s selection. Cheap, stable electricity produced by hydropower, as well as ice...

Large banks, insurers and other financial services companies prefer to move their headquarters to Dublin after Brexit, says Ernst & Young consulting company in a report. EY’s report called "UK Attractiveness for Financial Services Investors", shows that of the 222 companies that provide financial services that cooperate with EY, 59 said they would like to transfer some employees or create a...

France will continue to lower taxes, thus fulfilling promise of the country’s new President Emmanuel Macron, a source in the Ministry of Finance said. Macron intends to proceed with the new policy despite the official state audit body’s warnings about a budget hole of € 8 billion ($ 9.1 billion), Reuters writes. At a rally on Sunday, President said that reducing the property tax and luxury tax...