A draft budget proposed by the Italian government, suggesting a threefold increase in the deficit, to 2.4% of GDP, caused criticism not only in Brussels. On Friday, the rating agency Moody`s lowered the country's credit rating by one notch. A similar review can be undertaken in a week by Standard & Poor`s. The parliamentary coalition, however, declares its intention to adopt the budget...

Strong demand from online retailers provides an incentive for the air cargo market in Asia, while the trade war between the United States and China has so far had a minimal negative impact on the industry, Reuters reports. The volume of air cargo in the Asia-Pacific region in January-August increased by 4.8%, according to data from the Association of Asia Pacific Airlines (AAPA). The growth rate...

Today, leaders of the EU member states will hold a working session in Brussels on issues of migration, security and foreign policy. On the eve of the working dinner, the main topic of conversation was Brexit. Heads of state and government first discussed it in the presence of British Prime Minister Theresa May, and then - without her. The forthcoming summit is supposed to solve the remaining...

Head of the European Central Bank, Mario Draghi, warned Rome before the official budget presentation: do not expect that the ECB will save the situation. At a press conference held on October 13 at the IMF and World Bank meeting in Bali, Draghi expressed confidence that a budget agreement would be reached, and urged all parties to “moderate the tone.” Draghi also noted that the resonance from the...

Riyadh promised to take serious measures against those who decide on sanctions against the kingdom. An official statement about this was made yesterday, the day after a statement of US President Donald Trump about "severe punishment" for Saudi Arabia, if it is proved that the authorities of this country are involved in disappearance of the famous Saudi journalist Jamal Khashoggi. As more new...

The second major crack in the last three months appeared in the Chinese Belt and Road Initiative. The authorities of Pakistan, which had previously agreed to become the flagship of the project, announced their intention to contact the International Monetary Fund (IMF) for help. The country cannot cope with its foreign debt, the fifth of which consists of loans issued by the PRC. Beijing insists...

Managing Director of the European Stability Mechanism (ESM), Klaus Regling, stated that it is not fair to compare current concerns about the Italian budget deficit and the problems of Greece in the midst of the debt crisis. This is reported by CNBC. Over the past 8 years in the time of the crisis in the euro zone, Italy has never lost access to markets, Regling told CNBC during the annual meeting...

Indirect costs of the United States due to addiction of Americans to opioids amount to $ 500 billion annually. During the 73rd session of the UN General Assembly, US President Donald Trump drew attention of the world community to growth of drug addiction: drugs continue to take lives in the United States and around the world, and illicit drug trafficking is associated with crime, terrorism and...

The US Office of Foreign Assets Control (OFAC) has licensed British companies BP and Serica to develop the large Rhum gas field in the North Sea, in which 50% is owned by the National Oil Company of Iran (NIOC). Now the British can work with the NIOC to develop the field without fear of US sanctions. However, in accordance with the sanctions regime, the funds owed to the Iranian side will be...