World & Politics
Brazilian pension reform is facing problems - 05/04/2017
Proposal of Brazilian President Michel Temer to reform the expensive social security system was voted on by the committee. However, the measure, considered extremely unpopular among voters, is expected to meet resistance in Congress, Reuters reports. 23 members of the committee voted in favor of amendments to the country's constitution, which will force the Brazilians to work more and will reduce...
How real is cashless society for Europe? - 05/04/2017
European payment systems are on the verge of radical changes. The digital revolution invented faster and more convenient tools for conducting payment transactions, so some believe that cash has no future. However, it would be a mistake to ignore the role of banknotes and coins in the economy. Number of options for non-cash payments, such as credit cards, online payment and direct debits, has...
Greece tightens the belt once again - 05/03/2017
Greece and a group of international lenders have reached a preliminary agreement on the allocation of the next tranche of € 7 billion to Athens in the framework of the bailout program. The agreement, which is yet to be approved by the euro zone finance ministers and the Greek parliament, includes new cuts in pensions, tax increases, opening of the energy market and a change in labor legislation....
Renzi aims to become Prime Minister of Italy - 05/02/2017
Former Italian Prime Minister Matteo Renzi won the primaries and thus made an important step towards returning to the chair left six months ago. "We start from scratch. This is not a revenge or the second half of the next match", commented Mr. Renzi. "The whole party won, especially those who were not ashamed of what we did over the years". Nearly two million people took part in the primaries,...
Dubai to build blockchain-based economy - 05/01/2017
Dubai evolved from a small village into a large commercial and business center, attracting companies with extremely low taxes, developed transport infrastructure and a safe environment amid instability in the Middle East. Now, authorities of the largest city of the UAE have conceived a new transformation in order to consolidate the status of the region’s leading business center. For this, they...
Canada introduces unconditional basic income - 05/01/2017
The authorities of the largest Canadian province of Ontario presented details of the pilot project on the introduction of unconditional basic income (UBI). Within three years, about 4 thousand needy Canadians will annually receive around $ 12 570 from the state without any counter obligations. "We live in a new world with its new challenges. Starting with technology and ending with Trump, there...
Irish Prime Minister Enda Kenny: European Ireland means United Ireland - 04/28/2017
At the Brexit summit on Saturday, EU leaders are expected to officially declare the British province of Northern Ireland part of the EU. This will happen in case of holding a referendum to bring together Northern Ireland (part of Britain) and the Republic of Ireland, Reuters reports. Irish Prime Minister Enda Kenny has earlier asked colleagues from the bloc whether it is possible to recognize...
Brussels wants London to pay € 2 billion - 04/26/2017
Brussels is raising the stakes before negotiations on a trade agreement with the UK. In addition to the € 60 billion invoiced to London for withdrawal from the EU, the European Commission may require an additional € 2 billion to compensate for damages from customs duties lost in 2013-2016. According to the European officials, the country's customs service did not sufficiently combat fraudulent...
Cash crunch in India: the inconvenient truth about cashless economy - 04/26/2017
India is going through a major crisis affecting all walks of society from the very Prime Minister to the streets of Mumbai. The reason is cash. In a move towards demonetization and by pushing a cashless society, leaders have been exposed to have personal interests or to be corrupted by the dematerialize payment sector. Indians want their leaders out and the cash back.
Macron wins the first round of French presidential elections - 04/24/2017
The first round of the French presidential elections unveiled two candidates, one of which is to lead the country in the next five years. The leader of the National Front, Marine Le Pen (21.53% of the vote in the first round), and her rival Emmanuel Macron (23.75%), who heads a centrist movement En Marche!, launched their new campaign on the eve of the second round, to be held on May 7. Emmanuel...
