World & Politics
EU is urging Theresa May to reach agreement in Brexit talks - 11/20/2017
The leaders of the European Union will insist that British Prime Minister Theresa May agree to their terms as soon as possible to begin negotiations on future trade relations after Brexit, Reuters reports. Theresa May, through her representative, denied reports of her intention to increase the amount of the offer to pay the EU for withdrawing from it in order to settle London's obligations to the...
American financial institutions recognized Venezuela's default - 11/17/2017
The government in Caracas and the state oil company PDVSA have not fulfilled their financial obligations to creditors, members of the International Association of Swaps and Derivatives announced. The International Association of Swaps and Derivatives (ISDA) declared the Venezuelan government's default on public debt and bonds issued by the state oil company PDVSA. The decision was made...
Greece announces an unprecedented swap of government bonds worth € 29.7 billion - 11/16/2017
The Greek authorities offered holders of bonds to exchange their papers for bonds with later maturities. In particular, they are talking about special issues which investors that agreed to a significant debt write-off received in 2012. This way, Athens hope to increase liquidity of their liabilities against the backdrop of the third financial assistance program expiring in August 2018. The Greek...
Why Japan's economy surprised everyone - 11/15/2017
Prime Minister of Japan Shinzo Abe can be satisfied. Data on the country’s economy for the third quarter are encouraging. Due to the increased demand for goods from Japan in world markets, the Japanese economy showed a growth rate of 1.4% in July-September, which is the best indicator in 16 years. Despite the slowdown in growth rates compared to the second quarter, they are still above the...
IMF: Growth in Europe pushed the world's economy up - 11/14/2017
The European economy has shown an impressive turn in recent years. Now, the IMF considers Europe an "engine of world trade" thanks to the turn from a weak position in which a number of countries needed a bail-out, and central banks conducted unprecedented incentive programs to prevent wider shocks, to and economic growth. The latest IMF survey, published today, noted that the recovery in Europe...
IMF: First results of reforms in India are doubtful - 11/10/2017
The Government of India’s active efforts to digitize the country's economy are impeded by undeveloped infrastructure, and a lack of regulatory and legal framework and a low level of information security. All this can adversely affect the citizens' situation, the International Monetary Fund (IMF) believes. They made an attempt to assess the first results of the reforms that provided for...
The US Senate may postpone corporate taxes cuts until 2019 - 11/09/2017
Representatives of the Republican Party in the US Senate may delay implementation of the key point of the tax reform initiated by Donald Trump, namely, a reduction in the corporate tax rate until 2019. The own reform project that senators are to submit today will be very different from the bill prepared by the Republican majority of the House of Representatives. This means that the White House’s...
Saudi Arabia is going through revolutionary changes - 11/09/2017
Saudi Arabia is experiencing the biggest turmoil in its 85-year history. A decree of King Salman gave rise an unprecedented anti-corruption campaign, during which 11 princes from the ruling family, a number of high-ranking officials and influential businessmen were arrested. The initiator of the arrests is the king’s son, the young prince Mohammed bin Salman, who proclaimed a program of radical...
Japanese employers and American workers: Trump’s criticism of Japan is unreasoned - 11/08/2017
On Monday, US President Donald Trump once again criticized Japan for trade, saying during a visit to Tokyo that the country's automakers should "try to produce their cars in the United States, and not send them" to the United States. However, Japanese officials might note that they are already doing this by hiring tens of thousands of Americans, and that Japanese companies in the United States...
Britain outlines its trade and customs future - 11/07/2017
Today, the government of Theresa May is submitting a draft of customs and trade legislation to the parliament. The paper will enter into force after the country leaves the EU. The UK calls its key task the preservation of the terms of trade agreements with the EU countries, as well as the ability to enter into customs agreements with each of the participants of the European economic bloc...
