World & Politics
Self-driving cars may deprive about 4.1 million drivers of their jobs - 09/16/2016
When the era of cars without drivers firmly gains a foothold, the world will see terrible consequences. It is not about increased number of accidents, which many fear, but the employment problem, which is sure to come, writes analyst Wolf Richter on Wolf Street blog site. According to the analyst, scale of this problem is enormous. He uses official data to predict that there are about 4.1 million...
Cyprus to reduce amount of investment required to obtain citizenship - 09/15/2016
Government of Cyprus announced its intention to lower financial requirements to investors as part of its program Citizenship-by-Investment. Now, an individual investor may invest € 2 million, compared to previous € 5 million, to become the citizen. Government of Cyprus intends to make local passports more accessible and more attractive for foreign investors. It announced significant changes to...
China hopes that the United States will completely lift the economic blockade of Cuba - 09/14/2016
China hopes that the United States will completely cancel economic blockade of Cuba, said on Wednesday Wang Chao, Vice Minister of Foreign Affairs of China. "We hope that the United States will completely eliminate the (economic) blockade of Cuba as soon as possible in response to expectations of the international community," - Wang Chao said at a special briefing dedicated to upcoming visit of...
German business society: Refugees are not ready for the labor market - 09/14/2016
The largest companies in Germany will have to explain to Angela Merkel why they have recruited just 100 thousand refugees, while about 1 million of them arrived into the country in the past year, reports Reuters. It is known that the German chancellor is now struggling to continue her open door policy for refugees from the Middle East and Africa. To solve the problem of refugees and their...
Crisis of the Venezuelan economy is raising concerns in China - 09/13/2016
Severe crisis, which is now tormenting the Venezuelan economy and its leadership, is also agitating China, one of the main political and economic partners of the country. Earlier, anti-Americanism attitude and high oil prices helped China get along with Venezuela during presidency of Hugo Chavez. Now, however, the Eastern country came to think about safety of its citizens and feasibility of...
US Election 2016: Battle of Health - 09/12/2016
News about the state of health of presidential candidate Hillary Clinton stirred up the news space once again. Her doctor diagnosed pneumonia. On Sunday at a funeral ceremony in memory of the victims of September 11, Hillary Clinton fainted, was helped to get into a car, and then went home. There is a video, which shows the presidential candidate fainting, and, apparently, Hillary Clinton...
Denmark to buy part of Panama Papers - 09/09/2016
Tax Minister of Denmark Karsten Lauritzen said that his country will buy a part of Panama Papers containing information on those Danes, who used the offshore to hide their profits from taxation. According to Danish media, the country will pay 1 million to 9 million kroner ($ 150 thousand -. $ 1.4 million) to obtain information on 500-600 citizens of Denmark. According to Tax Minister of Denmark...
3% of employees in Britain are working under zero-hour contracts - 09/08/2016
Almost 3% of UK workers have zero-hour employment contracts. This is an employment contract under which an employer does not guarantee daily employment, but pays only for hours that an employee actually worked, according to the UK Office for National Statistics. According to Reuters, number of people working in such conditions, has increased by 20% in comparison with the previous year. This is...
Austria threatened Hungary with a lawsuit for refusing to accept refugees - 09/07/2016
Minister of Internal Affairs of Austria Wolfgang Sobotka said his country would sue Hungary, if Budapest refuse to take back refugees allowed to leave the country, according to Reuters. He said that "countries and groups of countries that systematically violate the law must take the consequences of this." Hundreds of migrants have passed through southern Europe to Austria, Germany and Sweden in...
Companies from developing countries are postponing investments until better days - 09/06/2016
This year, developing countries could raise a record amount in the global debt markets, reports Financial Times (FT). This is facilitated by extremely low interest rates in developed countries. Since the beginning of 2016, governments of developing countries have already issued bonds for $ 90 billion. JPMorgan Chase estimated that they will attract more than $ 125 billion of external loans by end...
