World & Politics
Tehran claims key role in restoration of the Syrian economy - 08/17/2018
In the coming days, Iran and Syria are going to sign an agreement on strategic partnership. Its last details were discussed this week in Damascus by an Iranian government delegation. Tehran claims a leading role in restoration of the Syrian economy, or, rather, it seeks to protect its investments in this country during the years of military conflict. According to experts, Tehran fears that as the...
EC: "Golden visas" fuel corruption - 08/15/2018
European Commissioner for Justice Věra Jourová told the Financial Times that the European Commission will carefully study the "corrupt citizenship" schemes in eight European countries as part of bolstering of the campaign against money laundering and corruption. "A suspicious requestor will be denied citizenship at the slightest doubt," Věra Jourová said. "We do not have the authority to prohibit...
Iran stops exporting oil to France and South Korea - 08/13/2018
Iran's oil exports continued to decline in July on the eve of the full restoration of US sanctions against the country. European consumers are reducing purchases, and supplies to France and South Korea have completely stopped, the International Energy Agency (IEA) said in its monthly report. "Iran's oil exports fell by 90,000 bpd to 2.19 million bpd, as European consumers are cutting volume of...
Angela Merkel seeks support of Spain - 08/13/2018
On Saturday, Angela Merkel, the chancellor of the Federal Republic of Germany, started a two-day visit to Spain. On the eve, Madrid and Berlin signed an agreement on the return of refugees. This step has become yet another measure to resolve the most acute migration crisis in the history of the European Union. The agreement with Spain is also intended to help Mrs. Merkel herself, who has recently...
OECD explains stagnation in the UK - 08/10/2018
Labor productivity in the UK has stagnated since the global financial crisis. After a sharp decline at the beginning of the crisis, it reached the pre-crisis level only by the end of 2016. The reasons for this are structural, not cyclical, according to the report of the Organization for Economic Cooperation and Development (OECD). The most negative contribution to the overall indicator comes...
Saudi Arabia is getting rid of its Canadian assets - 08/09/2018
The central bank and pension funds of Saudi Arabia have instructed companies that manage their assets abroad to get rid of Canadian stocks, bonds and money market instruments "regardless of prices," the Financial Times reported citing informed sources. Saudi Arabia reacted sharply to the Canadian authorities’ criticism of the arrest of activists fighting for the right of women to drive a car....
Turkey waves goodbye to dollar in international trade - 08/07/2018
Turkey is starting barter trade. The new system will reduce the demand for foreign currency in the economy, as well as ensure an increase in exports. Following the trade in national currencies, Turkey is moving to yet another new model against the dollar. In order to weaken influence of the recent speculative growth of foreign exchange rates on the economy and minimize use of foreign currencies...
Extreme heat in Europe turns into deadly danger - 08/06/2018
Even mines and bombs that have been left after the Second World War are exploding because of forest fires, caused by the terrible heat in Europe. Even old-timers cannot remember what is happening now in the Old World. The continent is exhausted by scorching heat and is suffocating in the smoke of forest fires. Forest fires occur annually, but this year the situation is complicated by a new...
Business climate is worsening in the euro area - 08/03/2018
In the third quarter of 2018, the indicator of business sentiment fell sharply due to the EU-US conflict around customs duties and protectionism. Against the backdrop of the conflict around trade restrictions, the business climate in the euro zone has deteriorated significantly. In the third quarter of 2018, the index of business sentiment, compiled by the Institute of Economic Studies ifo, fell...
Main oil export routes may be closed. Is there any way to save oil exports? - 08/01/2018
The threat of closure of the Bab-el-Mandeb Strait and the Strait of Hormuz forces exporters to look for roundabout routes for the export of Middle Eastern oil. Last week was marked by alarming news from the Middle East, which could have a serious impact on the oil markets. First, Iranian President Hassan Rouhani, along with one of the commanders of the Iranian Revolutionary Guards Corps,...
