The United States lost the first place in the list of the most competitive economies in the world to Singapore, according to the World Economic Forum. The United States dropped to second place in the annual ranking of the world's most competitive economies, which was published by the World Economic Forum (WEF). Experts noted that the performance of the United States is affected by the uncertainty...

Escondida copper mine in Chile will switch to renewable energy, said BHP Group’s mine owner Jeff Healey. According to Bloomberg, he told this at a presentation to investors. The company is in the final stages of negotiations on a long-term contract for the transfer of the mine to renewable sources. BHP expects that this measure will help reduce production costs. The agency considers BHP’s...

German Finance Minister Olaf Scholz believes that the country should not lag behind other states or private companies with the issuance of digital currency, reports Wirtschafts Woche. “Such a payment system would be useful for the financial center of Europe and its integration into the global financial system. We should not leave this field of activity to China, Russia, the United States or any...

French President Emmanuel Macron said in a telephone conversation with British Prime Minister Boris Johnson that he would consult about the Brexit position by the end of the week, AFP reported referring to the Palais'd Elysees. Mr. Johnson said in a conversation that he was not going to postpone the UK exit from the EU. The agency added that Mr. Johnson “presented his final proposals” on Brexit...

The World Trade Organization (WTO) recently confirmed the US possibility to impose duties on European goods. Accordingly, the country will introduce a number of similar measures on October 18, Bloomberg reports citing unnamed representatives of the US Department of Commerce. The United States will introduce duties of 10% on aircraft from the EU, but not on aircraft parts. In addition, 25% duties...

The Central Bank of Australia cut its key interest rate for the third time this year and pointed to the possibility of further reductions. The Reserve Bank of Australia cut interest rates by 25 basis points to a record low of 0.75% per annum. The decision of the regulator coincided with expectations of most economists. The central bank has already cut rates in June and July. "The Council will...

Starting from October 1, Japan increases its consumption tax from 8% to 10%, despite concerns that this would worsen the country's economy. Most of all, the tax hike is expected to affect poor families who have so far barely made ends meet, Kyodo News notes. Despite the fact that the majority of foodstuffs and drinks were taken out of the high taxation, the increase in prices for other everyday...

Kristalina Georgieva, the sole candidate from the European Union, was elected for the post of managing director of the International Monetary Fund (IMF) for five years. The representative of Bulgaria was previously a member of the European Commission, and recently was the Executive Director of the World Bank. Georgieva, who will be the first leader from a country with a developing economy in...

The UN climate summit ended in New York on Tuesday. No serious new promises were made to reduce greenhouse gas emissions, but many countries and companies announced renewal of renewable energy development plans, investments in the green economy and UN climate funds. From the results of the summit it follows that the climate agenda is still listed among the priorities of international politics,...