The "spiral of death". This is how you can describe the current situation in the oil industry of Venezuela. Energy companies and investors should closely monitor this, says Dow Jones. The oil production of Petroleos de Venezuela SA, the oil company of Venezuela, is rapidly declining, but some investors suggest that the company will continue to supply the world market with oil and will keep the...

Millions of tourists use Airbnb and other resources to find affordable housing. However, authorities of large cities do not like it as there’s not enough apartments for local residents. Berlin: Airbnb and the problem of housing shortage Since May 1, private individuals in Berlin can sublet the apartment, in which they live, to Airbnb, without temporary restrictions, provided that they continue...

Miguel Díaz-Canel, who in April replaced Raúl Castro as president of Cuba, is trying to overcome the permanent economic crisis. To this end, Cuba seeks to attract foreign investment. Negotiations on a number of projects - from infrastructure and agriculture to tourism and energy - are already underway, diplomats and foreign businessmen say. However, Diaz-Canel does not want to weaken the...

Italian politicians, instructed by President Sergio Mattarella, have been trying to agree and create an effective coalition government for more than a month. So far, however, all efforts to find a compromise and create a ruling coalition, have failed. This week, the leader of the Five Star Movement Luigi Di Maio, who, just like the League leader Matteo Salvini, wants to lead the government,...

Rapid melting of the Arctic ice made Washington and other countries urgently adopt strategies in relation to the northern part of the planet. The US strategy is expected to be promulgated this summer. Initially, the document was expected to be in force for 16 years. However, the melting is so fast that the strategy will have to be revised in four years. The concern of the Arctic states and the...

The government's privatization program calls for raising 35-40 billion riyals ($ 9.3-10.7 billion) by 2020 through the sale of sports clubs, flour mills and a water desalination plant, Director General of the National Center for Privatization (NCP) said. According to him, the water desalination plant’s sale, which is part of the Saline Water Conversion Corporation, should bring the bulk of the...

Donald Trump, in his speech to the National Rifle Association of the United States (NRA), said that if France and the UK legalized firearms, the number of victims of terrorist attacks in Paris, as well as cold-weapon attacks in Britain, would decrease. Trump's statements provoked outrage in both countries, and some French politicians have already called on him to apologize for these words. The...

Growth rates of the euro area economies in 2017 were the highest in ten years, reaching 2.4%, the European Commission (EC) said yesterday. According to the spring forecast of the EC, this year the growth will slow down to 2.3%, in 2019 - to 2%. European Commissioner for Economic and Financial Affairs Pierre Moscovici believes that the main drivers of growth were investment and improvement of the...

The White House postponed introduction of customs duties on steel and aluminum products before the beginning of June. This decision affects the European Union, Canada and Mexico. The US postponed introduction of customs duties on steel and aluminum products until June 1. The transfer of the term affects the European Union, Canada and Mexico, the White House reported on the night of Tuesday, May...