World & Politics
Budget of the 2020 Olympics in Tokyo will not exceed $ 17 billion - 12/21/2016
Summer Olympics in Tokyo, to be held in 2020, will cost the country $ 15 billion to $ 16.8 billion, said organizers of the Olympics. The initial expected cost was approximately $ 2.4 billion in the past year, then the amount rose to $ 15 billion. Not so long ago, experts expressed concern that the expenses might exceed 3 trillion yen ($ 25.5 billion). Tokyo’s authorities promised to cut costs and...
Obama wants to ban oil drilling in the Arctic and the Atlantic - 12/20/2016
Still acting US President Barack Obama is going to block rights to offshore drilling in the largest part of the Arctic and the Atlantic. This step may limit oil production on the shelf for a long time, reports Bloomberg. Obama is going to rely on provisions of a law adopted 1953. It empowers President with a right to exclude areas in coastal waters from oil and gas production. The decision has...
'Popularity of populists' in Europe may drive the world's economy into recession - 12/14/2016
Elections and referendums in developed democracies are now not a routine process, but rather a destructive factor. Experts point out that those who are now called "nationalists" and "populists" may lead the key Eurozone countries to collapse of the euro zone or even to a new global recession. Overthrow of governments in the Arab world has been called Arab Spring. However, very few people in the...
India's currency reform results in thousands of employees sacked - 12/12/2016
Decision of the Indian Prime Minister Narendra Modi to ban a significant portion of cash in the country (so-called demonetization) hit the Indian economy hard. Here’s, for example, Foxconn. The manufacturer decided to lay off 25% of the total labor force since the company's sales fell by 50% after demonetization. This, in turn, forced the company to halve production. Social unrest and loss of...
EU signs first ever cooperation pact with Cuba - 12/12/2016
The European Union and Cuba signed an agreement on political dialogue and cooperation with aim to normalize relations between the West and the island state, reports AFP. Ceremony of the agreement signing took place in Brussels. The document was signed by the EU High Representative for Foreign Affairs and Security Policy Federica Mogherini and Cuban Foreign Minister Bruno Rodriguez Parrilla. The...
South Korean President impeached - 12/09/2016
South Korean parliament voted to impeach the country's president Park Geun-hye. 234 MPs (with 200 needed) voted in favor, and 54 were against. The impeachment resulted from a scandal with Park Geun-hye’s friend, who was closely involved in public decision-making process. Fate of Park Geun-hye is now handed over to the country's Constitutional Court, which must decide whether ouster is justified....
EU launches investigation against seven countries over Dieselgate - 12/08/2016
The European Commission initiated an investigation against seven EU countries. The member states are blamed for passivity in investigation of the scandal around the Volkswagen, and claiming inadequate penalties from the concern. This is stated in the EC’s release. "National regulators in the EU should ensure that car manufacturers do provide obedience to EU laws and regulations," - said the...
SIPRI: US and Western Europe sell four fifths of all weapons in the world - 12/07/2016
According to Stockholm International Peace Research Institute (SIPRI), the United States and Western Europe are selling four fifths of weapons that make companies included in Top 100. Compared to 2014, sales of arms and military services of the largest corporations in the world fell by 0.6%, says the organization’s paper. "In 2015, sales of Top 100 largest defense companies in the world grew 37%...
After-Brexit Britain: Win or Fail? - 12/05/2016
The UK Government has published an investment plan for a number of projects, according to which development of infrastructure in the next few years will receive allocated a record amount of 500 million pounds ($ 634 billion), writes Bloomberg. To implement all the plans into practice, Treasury announced creation of the National Investment Fund of 23 billion pounds. Projects to be financed by the...
Renzi steps down, Eurosceptics cheer - 12/05/2016
On Monday night, Italian Prime Minister Matteo Renzi announced his resignation after defeat of his initiative constitutional reform in the referendum. Mr. Renzi’s proposition was to reduce role of upper house of the parliament, and strengthen centralization of political power. This, in his view, would help to enact laws without unnecessary bureaucratic procedures. Basically, the referendum was...
