World & Politics
Bank of Japan: Japanese companies are too cautious to increase prices - 07/26/2017
Bank of Japan’s Deputy Chairman Hiroshi Nakaso said that the services sector has simplified operations to avoid the transfer of labor costs to consumers. However, there are indications that companies will raise prices in the future, Reuters reports. Nakaso, in a speech to business leaders in Hiroshima, western Japan, also expressed confidence that inflation would reach the Bank of Japan target of...
Top-19 countries with the most productive economies - 07/26/2017
Productivity is one of the key factors of economic success. The more productive the population of the country, the more income it can bring to employers and, consequently, the state’s economy as a whole. A new study of Expert Market shows which countries are the most productive workers in the world. The company’s analysts analyzed the 35 largest economies. They compared GDP per capita and divided...
Turkey calls more than 500 German companies "terrorists supporters" - 07/24/2017
The Turkish government has included some German companies on a list of suspected terrorists. According to German business publication Handelsblatt, there are 681 companies from Germany. Handelsblatt’s journalists referred to sources in government circles in Germany. Previously, it was believed that only 68 persons and companies from Germany were on the list of suspects. Moreover, the Turkish...
The IMF agrees to allocate € 1.6 billion to Greece - 07/24/2017
The Board of Governors of the IMF agreed to allocate € 1.6 billion to Greece for the first time in three years. The funds will be unlocked only after parameters for reducing the country's debt load after the completion of the current assistance program are coordinated with Brussels. Participation of the IMF will allow the European creditors to continue negotiations with Athens since the earlier...
Arab world weakens the blockade of Qatar - 07/21/2017
Qatar's Permanent Representative to the United Nations, Alya Al Thani, said on Thursday in an interview with The New York Times and the Wall Street Journal that the "anti-Qatar coalition" led by Saudi Arabia withdrew 13 demands presented to the emirate a month ago. Instead, the countries put forward a new list of conditions for the resumption of relations with Qatar. Now, the list contains only...
Japanese companies want to raise the retirement age - 07/21/2017
More than half of Japanese companies are planning to raise the retirement age for their employees. In their view, this step will reduce the labor shortage in the country and will allow use working experience of veterans, according to a Reuters poll. Most Japanese companies require full-time workers either to retire at 60, or to work another five years with lower wages and worse working...
The White House sets new goals for NAFTA negotiations - 07/20/2017
Lower trade deficit in the US balance will be the White House's priority in negotiations to change the terms of the North American Free Trade Agreement with Canada and Mexico (NAFTA). America hopes to reach the goal by improving the access of American goods to the markets of Canada and Mexico. Washington also intends to limit the possibility for partners to manipulate currency rates. However,...
ZEW: Germany's growth prospects remain positive - 07/19/2017
ZEW Institute said on Tuesday that Germany's economic growth forecast remains positive, despite the drop in investor sentiment for the second consecutive month in July. This can be explained by strengthening of the euro, economists say. Europe's largest economy is set for a reliable expansion in 2017 after a 0.6% growth in the first three months, driven by strong private investment, high...
Turkey and Greece are clashing over Mediterranean gas fields - 07/18/2017
Development activity of offshore gas fields in the Eastern Mediterranean region is growing. Along with the increase in the volume of geological exploration and taking into account possible construction of a gas pipeline between Israel and Turkey, geopolitical risks are also growing. Commercial prospects attract all parties, but a full-fledged military conflict can begin if Greece, Cyprus and...
Lloyd's of London: A global cyber attack can cost twice as much as Hurricane Sandy - 07/18/2017
Insurance market experts of Lloyd`s of London believe that a global cyber attack can provoke economic losses roughly equal to $ 53 billion. However, this figure may be significantly higher under certain conditions and double the amount of economic damage, for example, from Hurricane Sandy. The world's oldest insurance market, Lloyd`s of London, published a report in which the company's...
