Business

‘Giving something back’: Denmark’s refugee entrepreneurs

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A new project in Denmark aims to help refugees start their own businesses, challenging the perspective, held by some, that they are a burden. But not everyone in the country is happy about the move. By Paul Moss The World Tonight BBC I got to visit Noura Bittar at her home only after I promised to ignore the mess. She is a proud woman, and, in fact, her small flat in Copenhagen seemed pretty tidy, given that she runs a ... Read More »

Could Brexit Lead to Another Financial Crisis?

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It was 10 years ago when the financial crisis hit the UK, and today, former chancellor of the exchequer, Lord Alistair Darling cautioned that there could be another. Sunny Rogers Currency Solutions Speaking on BBC Radio 4’s Today Programme, the former chancellor reminisced on the events that unfolded as the crash began to engulf the country, outlining “the most scary moment” of the crisis. “I had to go to one of these meetings of European finance ministers, and I was asked to ... Read More »

Everybody Is Talking About Blockchain, And Here Is Why You Should Care

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New technologies with all kinds of interesting names are popping up every day, but few of them are as hyped as the word “blockchain.” Sami Rusani HuffPost This technology has the capability to reinvent the Internet and technology as we know it. From startups disrupting trillion dollar industries, to massive crowd funding campaigns raising over 100 million dollars in a few hours, to solving social inequality – blockchain is on fire! To understand why it’s becoming such an important part ... Read More »

Greece goes fishing for oil in Ionian Sea, Crete

epa04562446 A view of the Repsol oil rig off the coast of the Canary Islands, Spain, 16 January 2015. Spanish oil company Repsol finished its drilling operations in the Canary Islands and will leave the zone after the first explorations didn't show a significant presence of gas or oil at the subsoil, the multinational announced in a press release. Repsol had started to drill for hidrocarbons in the islands on 18 November 2014 some 60 km far from Lanzarote and Fuerteventura islands.  EPA/CRISTOBAL GARCIA

An oilrig off the coast of the Canary Islands, Spain. On August 7, Greece announced two international tenders for granting the right to explore and exploit hydrocarbons in the Ionian Sea and Crete. New Europe Online/KG  Foreign companies asked to submit bids Greece goes fishing for oil in Ionian Sea, Crete <style type=”text/css”> .wpb_animate_when_almost_visible { opacity: 1; }</style> On August 7, Greece’s Energy Ministry announced two international tenders for granting the right to explore and exploit hydrocarbons in the Ionian ... Read More »

Vietnam backs off South China Sea drilling at behest of Beijing

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Suspension of project near border of exclusive economic zone another victory for Beijing Asia Unhedged Asia Times Spanish energy firm Repsol has suspended oil drilling off the coast of Vietnam in waters claimed by China, after Hanoi came under pressure from Beijing to stop, Reuters reported this week. “We are working with the PetroVietnam and with the Vietnamese authorities and the only comment is that right now, operations have been suspended,” Repsol’s chief financial officer, Miguel Martinez, was quoted as ... Read More »

Vietnam, Yielding to Beijing, Backs Off South China Sea Drilling

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HONG KONG — Vietnam appears to have retreated in a high-stakes maritime gambit against China, suspending a gas-drilling project that it had approved in the South China Sea but that was said to have irritated Beijing. Mike Ives The New York Times The drilling, by a subsidiary of the Spanish energy company Repsol, had started in June off the southern Vietnamese coast, analysts said. The offshore block where the drilling was occurring straddles the border of Vietnam’s 200-nautical-mile exclusive economic ... Read More »

Unemployment in Europe has fallen to its lowest level since 2009

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Unemployment in the Eurozone has now fallen to its lowest level since early 2009, as the single-currency area continues along a road of economic recovery one year after the Brexit vote rattled confidence in the bloc’s future. Robin Bowman World Economic Forum In June this year, euro-area unemployment dropped to 9.1%, down from 9.2% the previous month, and from 10.1% in the same month in 2016. This pattern reflects a trend seen across the EU as a whole, where the ... Read More »

Treaty to enable high seas marine protected areas takes step forward

o0806042 - 08 JUNE 2004 - TASMAN SEA 
The NZ deep sea trawler West Bay does a fast turn after hauling its catch from international waters in the Tasman Sea. Greenpeace  along with more than a thousand scientists are supporting the call for a moratorium  on high seas bottom trawling, because of the vast amount of marine life that is destroyed by this fishing method.
©2004Greenpeace/Roger Grace

The United Nations has advanced a step closer to an international treaty to protect marine life on the high seas, with an aim of setting up a mechanism for creating marine protected areas in areas beyond national jurisdictions. Aaron Orlowski SeafoodSource International waters outside countries’ exclusive economic zones make up 60 percent of the ocean and cover almost half of the surface of the earth. The waters are rife with marine life, including many threatened species, but are subject to ... Read More »

Sing dollar too strong: DBS currency strategist

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THE Singapore dollar (SGD) is too strong as the greenback continues to struggle and is becoming oversold, said Philip Wee, DBS Bank senior currency strategist. Year to date, the SGD has gained over 6 per cent against the US dollar (USD), and with the Thai baht are the two strongest South-east Asian currencies. SIOW LI SEN The Business Times The SGD stood at 1.3597 on Wednesday, slightly off its year high of 1.3553 on July 31. USD/SGD came under heavy ... Read More »

Brexit: Race to host EU agencies relocated from London

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EU countries have until midnight to submit bids to provide a new home for two agencies that will be relocated from the UK after Brexit. BBC The European Banking Authority (EBA) and European Medicines Agency (EMA), based in Canary Wharf in London, employ just over 1,000 staff between them. The banking and medicines agencies are seen as the first spoils of Brexit by the 27 remaining members of the EU. About 20 countries are expected to enter the bidding process. ... Read More »

Australians waste $70m a year on unused gift cards

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When I was a teenager, I loved getting gift vouchers and using them in the sales. I usually spent them in either the winter sales soon after my birthday or the summer sales after Christmas. Caitlin Fitzsimmons Brisbane Times I didn’t have much money so each voucher was carefully stored in my wallet and avidly spent. There was no way I’d let a single dollar go to waste. I would’ve been astonished to hear that Australians in 2017 waste $70 ... Read More »

Analysis: Time to ditch your interest only loan as big banks continue rate hikes

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With banks increasing rates for interest-only (IO) loans, it’s definitely a good idea to consider switching to principal and interest (P&I) loans. Vanessa De Groot Domain When you took out your IO loan it probably made financial sense because of affordability. It likely enabled you to manage the mortgage repayments and your other living costs, and perhaps you could even afford to borrow more to buy a more expensive property. That’s because the regular repayments for IO loans are significantly ... Read More »

Government adviser urges review of farmers’ tax-breaks

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Tax breaks for UK farmers should be reviewed, the head of a group advising the environment secretary has said. BBC Economist Dieter Helm said the current system of taxpayer-funded support was extremely wasteful and the industry suffered from “subsidy addiction”. Prof Helm said the exemption of farmland and buildings was used to avoid inheritance tax. The Department for Environment, Food and Rural Affairs (Defra) said his ideas were not under Government adviser urges… Read More »

Migrant farm workers take on one of Australia’s richest families, the Smorgons

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Migrant farm workers are taking on one of Australia’s richest families, the Smorgons, in what could be the first major strike in the farm sector for many decades. Ben Schneiders The Age The workers and a union are seeking better pay and conditions at giant glasshouses north of Adelaide at a company majority owned by a Smorgon-family investment company. Strikes are almost non-existent in the farm sector, which is overwhelmingly non-union. On Friday, three migrant workers appeared in the Fair ... Read More »

Sri Lanka signs Hambantota port deal with China

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Billion-dollar agreement reached despite trade union opposition and protests over security fears, including from India. Al Jazeera and news agencies<imgheight=”1″width=”1″style=”display:none”src=”https://www.facebook.com/tr?id=968100353246427&ev=PageView&noscript=1″/> Sri Lanka has signed a $1.12bn agreement with a state-run Chinese firm to operate a port in the southeast of the country, despite security concerns and protests from trade unions. According to the long-delayed deal reached in the capital Colombo on Saturday, Sri Lanka Ports Authority agreed to sellΒ a 70 percent stake in the Hambantota port to China Merchants Ports ... Read More »

Arts patronage now

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Companies have gotten sophisticated in their support of and collaboration with artists. Helmi Yusof SPH ARTS patronage used to be more straightforward. In the Renaissance era, a rich patron might ask an artist to paint specific figures and objects using specific colours and medium. In return, the artist was given financial support and moral encouragement. Today, arts patronage has taken on different complexions – especially when the patrons are companies. Although artists are still regularly commissioned to produce artworks, commercial ... Read More »