World & Politics
$700 bln of US taxes are hid in offshores - 10/05/2016
US PIRG Education Fund and Citizens for Tax Justice consumer group published a new research. The paper shows that the vast majority of the largest corporations in the United States hold a portion of their assets in offshore locations. The document’s authors believe that the US budget has missed more than $ 718 billion in tax revenues due to this practice. The study reports that 367 of the Fortune...
Hungary referendum: Passive resistance or indifference? - 10/03/2016
Hungarian Prime Minister Viktor Orban said that he will amend constitution to toughen national migration legislation. Prime Minister announced this decision in spite of failure of a referendum held on Sunday. The Hungarians were invited to comment on the system of distribution of migrants across the EU countries. The referendum was officially declared invalid because voter turnout was 43% at...
Sarkozy on Brexit: 'The worst thing would be to do nothing' - 09/29/2016
Nicolas Sarkozy is going to propose Britain to change results of the Brexit referendum through a new contract with Germany. He intends to do it as soon as he wins the presidential elections in France in 2017. Speaking to business leaders in Paris, the former president of France, said that if elected, he will visit Berlin with the project of a new EU treaty to win tsupport of German Chancellor...
Does global trade slowdown mean end of the Globalization Era? - 09/29/2016
For the first time in 15 years, growth rate of world trade in 2016-2017 will be lower than growth rate of the global economy, according to the WTO. This trend marks the end of the globalization era. All in one, negative interest rates, huge debts, "bubbles" in financial markets, and low rate of global trade growth can lead to a new economic crisis. According to the World Trade Organization’s...
Greece adopted reforms for a new tranche of 2.8 billion - 09/28/2016
Greek lawmakers have approved reforms on budget cuts, retirement benefits and acceleration of privatization in exchange for financial assistance from international lenders, reported Reuters. The Greek Parliament met conditions for the next tranche of financial assistance. Simple majority of the Parliament voted to reform the electricity market, and transfer public assets to the sovereign wealth...
Seven Chinese projects to remold the world - 09/27/2016
China is probably the most dynamic country in the world. Nevertheless, very few people realize how fast its infrastructure is growing. Over the next 10 years, the country plans to relocate 250 million people (equal to total number of Indonesian population) in fast-growing mega-cities. In order to implement the process, China has invested billions of dollars in large-scale infrastructure projects....
Trump lost the first presidential debate - 09/27/2016
The first debate of the US presidential candidates brought victory to Democrat Hillary Clinton. According to a national survey, former Secretary of State was supported by more than half of respondents, that is, 11% more than gained Republican Donald Trump. A survey among African-Americans and Hispanics showed the most significant break. Most of women also felt that Clinton was more convincing....
Iranian Banks introduced credit cards for local citizens - 09/26/2016
First two Iranian banks (Bank Melli Iran and Ayandeh Bank) started to issue credit cards in accordance with the rules of Islamic banking, portal Presstv.ir reports. Islam forbids to lend money on interest, therefore loan granting in the Western sense of this definition is not possible in Iran. Up to the present moment, Iranian banks has produced only debit cards. Owners of the new cards may use...
Public Eye: Swiss companies sell dirty fuels in Africa - 09/22/2016
Swiss commodity trading companies Vitol and Trafigura are suppling dirty diesel fuel and gasoline with high content of toxic substances in the African countries. They are realizing the fuels through a chain of controlled gas stations. This states a report "Swiss Commodity Traders Flood Africa with Toxic Fuel" published by Swiss non-profit association Public Eye. The main actors here Swiss Vitol...
British citizens suffer from financial frauds every 15 seconds - 09/21/2016
Financial Fraud Action UK (FFA) coordinates efforts of British banks and bank card issuers and fights against fiscal fraud. Recently, the organization reported that number of such crimes in the UK increased by 53% in this year. More than 1 million cases of various financial fraud were detected in the first six months of 2016, which means that fraudsters attacked every 15 seconds. Number of frauds...
