World & Politics
Indonesia complains to WTO about EU's ban on palm oil-based biofuels - 12/16/2019
The reason for the appeal was a ban imposed by European authorities on the use of palm oil-based biofuels. According to the report of the Indonesian Ministry of Trade, the country's authorities consider the ban unjust. In addition, it is regarded as an unscrupulous attempt by the EU leadership to protect their own goods from competition. The ban is introduced under the European Second Renewable...
Israel to hold extraordinary and unprecedented third election in a year - 12/12/2019
The Israeli Knesset officially announced its dissolution after all attempts to form a government failed. The last decision of the MPs was to adopt the law on the repeated parliamentary elections. They will be held on March 2, 2020. For the first time, Israelis will have to come to the polls for the third time in a year, and elections will be held on Monday for the first time as well. And the main...
Will Japan-like stagnation infect the world? - 12/10/2019
This year, economists again spoke loudly about the world economy stepping on the Japanese way. This “disease” has already swept Japan and Europe, where it came in the form of quantitative easing and negative interest rates on deposits and bonds. Experts fear that next year it will spread to the rest of the planet, including the United States. There are prerequisites for this, as follows from an...
Saudi Arabia approves draft budget for 2020 with deficit of almost $ 50B - 12/10/2019
King of Saudi Arabia Salman bin Abdulaziz Al Saud approved the Kingdom’s draft budget for 2020 with expenditures of 1.02 trillion riyals (almost $ 272 billion) and revenues of 833 billion riyals (more than 222.1 billion dollars); deficit estimated at 187 billion riyals ($ 49.8 billion), the Saudi state news agency SPA said. According to the project, expenses will be 7.8% lower than in 2019. At...
China's trade decline with the US keeps pace - 12/09/2019
In January-November, China’s trade with the United States against the backdrop of the trade war lost 15.2% compared with the same period in 2018, rolling back to the level of $ 494.45 billion, follows from the data of the PRC Main Customs Administration on December 8. The preliminary summary of the Chinese customs officers does not contain data on the shares of foreign trade partners, and it is...
Japan unveils $ 120B fiscal stimulus package - 12/05/2019
Japan introduced a $ 120 billion fiscal stimulus package to support the growth of the world's third largest economy, Reuters reports. Japanese Prime Minister Shinzo Abe announced a fiscal measures package worth 13 trillion yen ($ 119.7 billion). The government is expected to unveil the details of the package after it is approved by the cabinet. “We managed to put together a strong political...
British Virgin Islands to create their own cryptocurrency - 12/05/2019
The British Virgin Islands will launch their own cryptocurrency and tie it to the dollar. The territory has one of the most favorable legislation regarding digital currencies, which has made the islands a haven for several large crypto companies. Overseas territory of the United Kingdom Virgin Islands will launch its cryptocurrency, according to Bloomberg. Now the islands use the US dollar as the...
China responds to Hong Kong-related actions of the US - 12/03/2019
Beijing reacted to adoption of the United States laws to support Hong Kong protests. On Monday, China imposed sanctions against US non-governmental organizations involved: according to Beijing, they are inciting chaos in Hong Kong. Also, American warships and planes will no longer be allowed there. Beijing says that despite ongoing protests and their support from abroad, any anti-Chinese forces...
South Korean economy slows down to 10 years-low - 12/02/2019
The country's authorities lowered the forecast for GDP growth in 2019, noting a deterioration in export dynamics and a reduction in capital expenditures in several sectors of the economy. The Central Bank of South Korea announced that interest rates remained at a record low for the country of 1.25%, while the forecast for GDP growth rates for the year was reduced to 2%. For the South Korean...
Israel criticizes decision of six European countries to join INSTEX - 12/02/2019
The Israeli Foreign Ministry believes that the decision of governments of six European countries to join the settlement system with Iran INSTEX (Instrument in Support of Trade Exchanges) can be used by the Iranian authorities to tighten repression within the country. "Belgium, Denmark, Finland, the Netherlands, Norway and Sweden could not choose the worst time," the statement said. In this...
