Digitalization has added to volume, scope and speed of international trade, significantly reduced cost of participation in it, simplified coordination of global value chains, promoted dissemination of ideas and technologies and establishment of connections between business and consumers around the world, according to the Organization of Economic Cooperation and Development (OECD) report. The...

The presidential race in Brazil reached the finish line: Friday is the last day of campaigning in print media. The elections will be held on October 7, but we can hardly expect to know name of the new President right away. Most likely, the second round will become a competition between the right conservative Jair Bolsonaro, who was nicknamed "Brazilian Trump", and Fernando Haddad from the left...

Consumer prices in Turkey grew by 24.52% in annual terms in September, according to data from the Turkish Institute of Statistics. Analysts polled by Bloomberg, on average, predicted a price increase of 21.1%. Compared with August, consumer prices rose by 6.3%, the highest rates since April 2001. Analysts forecasted a growth rate of 3.4%. Inflation in Turkey accelerated against the backdrop of...

In the coming years, the Netherlands is due to replace its fleet of four submarines, which has served its time. Despite the relatively small fleet, it will represent a strategic investment for The Hague, which will take the time to choose wisely. What ambitions lie behind the deal, and what is the new fleet meant to accomplish?

Following talks on renegotiation of the Agreement on the North American Free Trade Agreement (NAFTA), which took place in Ottawa, Canada, the United States and Mexico reached consensus on a new trade agreement that will replace NAFTA. The new modernized agreement has already been called the USMCA (the United States — Mexico — Canada Agreement). The countries plan to sign it within 60 days. The...

The ECB's Economic Bulletin, published on Thursday, revised downward medium-term forecasts of the euro zone’s GDP growth. The ECB's June forecast for growth in Europe was generally optimistic. Now, however, the European Central Bank is inclined to believe that 2016-2017 would be the best in this...

The humanitarian crisis in Venezuela was one of the key issues for the Western Hemisphere at the 73rd session of the UN General Assembly. The speech of US President Donald Trump, who told world leaders about "suffering and devastation" in socialist Venezuela, inspired President Nicolas Maduro's opponents to new decisive actions. Yesterday, six countries asked the International Criminal Court...

The IMF experts presented an economic forecast, within the framework of which they assessed potential of different countries, and also ranked those countries that will become most rich by 2020. Below we will describe these countries in more detail. 1. Macao GDP per capita: $ 143.12 thousand The world center of casinos and gambling will become the richest place on the planet by 2020, IMF...

Next year, the euro will turn 20 years old. Despite the years of crisis, the single European currency is more important than any other national European currency after the end of World War II. Even countries that are not part of the euro area sometimes accept the euro as an alternative means of payment. However, the value of the euro is small compared with some other currencies, namely with the...