Level of greenhouse gas emissions broke a record in 2018. The concentration of carbon dioxide in the atmosphere reached 407.4 parts per million, which is the highest value in history. The impact of emissions on global warming compared with 1990 was stronger by 43%, reports CNN, referring to a report published by the Meteorological Society of the United States.   The year 2018 was one of...

A political crisis erupted in Italy, and there is now a question of a no confidence vote in the government. Meanwhile, the country's economy is going through hard times: the level of poverty in the country is growing, public debt has reached unthinkable levels, and the government is piling up promises instead of budget savings, as Brussels requires. A government crisis has erupted In Italy and it...

India intends to reduce capacity of the new largest oil refinery, as the country needs to lower spending. The need to comply with stringent environmental measures when acquiring land resulted in an increase in total costs to $ 60 billion from $ 44 billion. India, together with the state-owned oil companies of Saudi Arabia and the UAE, plans to build a giant refinery in the state of Maharashtra on...

Hong Kong Government Statistics Agency (C&SD) published data showing that mass protests in the Special Administrative Region (SAR) affected macroeconomic indicators in the local economy. Hong Kong's GDP growth rate in the second quarter of 2019 was 0.6% year-on-year, while it almost reached 5% in 2018. The city, which was under British control until 1999, has been a refuge for Chinese political...

Saudi Arabia’s budget deficit grew larger in Q2 as officials are ramping up spending to spur a weak economy. The budget deficit reaches 33.5 billion riyals ($ 8.9 billion), compared with 7.4 billion riyals for the same period last year, the ministry said in a statement. Costs increased by 5% compared with the II quarter of last year. This can be explained by a significant increase in capital...

Boris Johnson chose Scotland, Northern Ireland and Wales for his first visits. On July 29, he visited Edinburgh, where he met with First Minister of Scotland Nicola Sturgeon. Against the background of the looming no-deal Brexit, the new Prime Minister should really pay more attention to these regions. After Britain leaves the European Union without a deal, Northern Ireland and Scotland may say...

US Trade Representative Robert Lighthizer said that Vietnam should take steps to reduce its trade surplus with the US, reports Bloomberg. The US has a growing trade balance deficit with Vietnam, and the government "made it clear to Vietnam that it should take measures to reduce its unsustainable trade deficit," said Lighthizer in comments to the Senate Finance Committee. Measures to be taken by...

In 2018, North Korea’s GDP fell by 4.1%, which was the strongest decline since 1997. The main reason for the decline in the economy was tightening of sanctions in 2017 in connection with development of the DPRK nuclear program. At the same time, according to experts, the current decline in GDP is unlikely to result in devastating consequences like in the 1990s, when famine killed several million...

Italy is going through difficult times. Poverty and unemployment rates in the country are rising, the national debt has reached inconceivable proportions, the economy is almost in stagnation. Now, experts are afraid that the fate of Greece befalls Italy. In 2018, 1.8 million households in the country lived in absolute poverty, the national statistical agency had previously calculated. This is...