China's stock market crash has hit the local billionaires, despite the fact that they hold the lion's share of their capital outside the stock exchange. Three of Asia's richest man lost $ 5.6 billion on Monday. Wang Jianlin has lost $ 3.6 billion. This person takes an honorable position of Asia's richest man, and his wealth is estimated at $ 31.2 billion. However, Wang invested some of the money...

The next OPEC meeting will be held in Vienna on 4 December, a year after Saudi Oil Minister Ali al-Naimi announced that oil prices should be determined by the market, and the kingdom is not going to protect the level of $100 a barrel or more. It seems that Saudi Arabia has overestimated the impact of low prices on other countries, and was not too concerned about it itself, as its huge reserves...

Silicon Valley companies invest in trucking start-ups, adapting to the realities of internet era. The turnover of this sector is estimated at $ 160 billion a year. Freight forwarders, who coordinate the delivery of products for retailers and manufacturers, are involved in everything - from the search for the optimal combination of air, rail and road transport to customs clearance. They work all...

Turkey has always been a popular tourist destination. However, now the tourists refuse to travel to the country for fear of terrorist attacks. Reduction in the number of tourists may lead to losses of up to EUR 5 billion. Turkey is the sixth most popular tourist country. Last year, it was visited by 42 million tourists. Revenues amounted to nearly 30 billion Euros. However, the attacks and...

Norway is ready to use its oil accumulation in order to support the economy and stop the growth of unemployment in the background of the sharp fall in oil prices. As stated by the Prime Minister of Norway, Erna Solberg in an interview with Bloomberg, the authorities are preparing a draft budget for the following year taking into account the use of the $ 875 billion sovereign wealth fund, which...

Nandan Nilekani is a billionaire and co-founder of software developer Infosys. Also, he is one of the most popular figures of the Indian tech sector. In 2009, he left the company and is now trying on the role of the elders of Bangalore’s Internet industry, which is engaged in the transformation of the city with population of 10 million people in the global technology hub. He tells about...

Oil and gas sector will remain one of the best facilities in the world for investment, with the hydrocarbon energy for a long time remaining the main source of energy for mankind. Billionaire David Rubenstein, co-director of co-founder of Carlyle Group, one of the largest asset management companies on direct investments in the world, came out with such estimates in an interview with CNBC. The...

USTelecom has sued the FCC over its ‘net neutrality’ rules. The case will be heard in the U.S. Court of Appeals, District of Columbia Circuit. The outcome of this case is likely to have a major impact on us all in this increasingly connected world. On the 4th of December this year, a U.S court of Appeals with begin hearing oral arguments, the outcome of which could set a legal precedent,...

Despite aggressive measures put in place to break its fall and reverse its downward movement, local as well as international demand for Chinese goods has waned. Officials from the PBOC expect the economy to cool off this year. As per an official from China’s Central Bank, downward pressure on China’s economy is likely to persist during the second half of this year. Exports and government spending...