Starting from 2016, each cash payment more than $ 100 thousand should be tested for money laundering in Switzerland. Vague language of the new law can lead to a crisis in the luxury market, experts say. The Swiss Federal Council adopted the Anti-Money Laundering Ordinance (AMLO). In its report, the Ministry of Finance of the Confederation recalled that the intergovernmental Financial Action Task...

"There are four types of countries in the world. Developed, underdeveloped, Argentina and Japan." - once said a well-known American economist and Nobel Prize winner in economics Simon Kuznets Today, much of the rich part of the world is remarkably more similar to Japan: a chronically low interest rate, inflation and the exorbitant level of sovereign debt. Perhaps that is why many governments...

Israeli Prime Minister Benjamin Netanyahu took a trip to Washington for a visit, the main intrigue of which became talks with US President Barack Obama. Despite the alliance between the two countries, relations of their leaders were strained because of controversies on the Iranian nuclear deal and the Israeli-Palestinian conflict. In this situation, Benjamin Netanyahu and Barack Obama had to...

The emergence of Trans-Pacific Partnership (the agreement on the organization establishment, signed in Atlanta, US, has yet to be ratified by the parliaments of twelve of its member countries) is the most important event in world trade since the WTO’s creation. And, as in the case with the WTO, the cause of occurrence were developing countries. Original version of the Trans-Pacific Partnership...

The Australian Government reportedly engaged themselves in the search for a country to resettle refugees, arriving from Iran, Sri Lanka, Afghanistan and other countries. Kyrgyzstan, located thousands of kilometers away, considered as one of the options. The authorities have not specified under what conditions they are going to do it (for example, compensation for the receiving party). The...

Britain will take urgent measures to remove their nationals from Sharm el-Sheikh, according to Head of the British Foreign Secretary Philip Hammond, reports Sky News. According to him, the exportation will begin on Friday, 6 November. Hammond also said he did not rule out possibility of involvement of "Islamic State" to the plane crash. Earlier, the terrorist group took over responsibility for...

Chinese President Xi Jinping and President of Taiwan Ma Ying-jeou will hold a historic meeting on Saturday in Singapore. It will be the first bilateral talks since 1949. However, Beijing is still stressing the country adhere to the "one China" policy - so it is not a full-fledged bilateral meeting of the two presidents, but talks of leaders of the Taiwan Strait’s two sides. The historic business...

Turkish Justice and Development Party (JDP) of President Recep Tayyip Erdogan unexpectedly won the election on Sunday. This returns the country to one-party system, will stimulate the presidential power, but can also exacerbate deep social divisions. The Turkish government will remain faithful targets to put in previous years. The Turkish prime minister and JDP’s Head Ahmet Davutoglu, speaking to...

About 220 thousand refugees have arrived in Europe in October 2015. This number was a record since the beginning of the year, Reuters reported referring to the press-secretary of the United Nations High Commissioner for Refugees Adrian Edwards. - This is the highest monthly figure in the history, this number roughly corresponds to the number of arrivals in the past year, - said Edwards. According...