Business

The longevity dividend: how ageing populations could boost economic productivity

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People are generally living longer than previous generations across most parts of the world. Matt Flynn The Conversation Rising life expectancy is a result of advances in medicine as well as improving living standards and healthier lifestyles. But while this should be celebrated for social reasons, is it beneficial in economic terms? Does the increase in the older population create an economic burden on society or can older people be mobilised to enhance the productivity of communities in which they ... Read More »

Taiwanese fishing boat investigated after being caught in NZ waters

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The Navy was involved in drama on the high seas, after sailors and fisheries officials boarded a Taiwanese-flagged vessel in New Zealand waters. Andrea Vance stuff The Yi Rong No.6 was spotted close to the Kermadec Islands, in New Zealand’s exclusive economic zone, earlier this month. A crew from the offshore patrol vessel HMNZS Otago went aboard the Taiwanese boat on August 9 and spent two hours inspecting it. The ship wasn’t illegally fishing in New Zealand waters – but fisheries officers did ... Read More »

Sri Lanka joins Indian Ocean strategy talks at Vietnam forum

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ECONOMYNEXT – Sri Lanka’s Prime Minister Ranil Wickremesinghe is participating in conference to develop regional co-operation in the Indian Ocean held in Vietnam, a country that has suffered from China’s controversial restrictions on resources, free navigation and… The third Indian Ocean Conference is being held in Ha Noi to develop regional architectures to co-operate in security, trade commercial administration in the context of the strategic and economic importance of the… The Indian Ocean Conference was founded three years ago with ... Read More »

Greece was never bailed out – it remains locked in an EU debtor’s prison

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Punitive conditions attached to the ‘rescue’ package mean the Greek financial tragedy may never end Yanis Varoufakis The Guardian Over the past week, the world’s media have been proclaiming the successful completion of the Greek financial rescue programme mounted in 2010 by the European Union and the International Monetary Fund. Headlines celebrated the end of Greece’s bailout, even the termination of austerity. Buoyant reports from ground zero of the eurozone crisis portrayed Europe’s eight-year long Greek intervention as a paradigm ... Read More »

North Korean fishing in Japan’s economic zone drops 77%

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Early patrol by coast guard ahead of squid season pays off MIO SADAKATA, Nikkei staff writer Asian Review TOKYO — North Korean boats fishing illegally in a vital part of Japan’s exclusive economic zone appear to have decreased almost 80% on the year in July, after the Japan Coast Guard began issuing earlier warnings ahead of prime squid season. The Yamatotai area of the Sea of Japan, about 300 km northwest of the Noto Peninsula in Ishikawa Prefecture, offers ideal ... Read More »

Seafood diplomacy? Erdogan invites ‘dearest friend’ Putin to meet at fish restaurant

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Russia’s Vladimir Putin and Turkey’s Recep Tayyip Erdogan may soon be discussing the S-400 anti-air systems deal while eating fish or lobsters, as Putin has been reminded of an arrangement to meet at a… * RT An invitation from Erdogan, delivered to Putin by Turkish Foreign Minister Mevlut Çavusoglu on Friday, said: “Your dearest friend, Mr. Erdogan, has asked to convene his greetings and best wishes, he is hoping for your visit to Istanbul in the near future. You have ... Read More »

‘Tokatu’ makes first visit

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The country’s largest deepwater fishing vessel, Tokatu, made its maiden call to Dunedin yesterday, and will be a semi-regular visitor to the city’s upper harbour. Simon Hartley Otago Daily Times Sealord took possession of the $70 million, 81.7m-long Norwegian-built vessel in mid-June, after a six-week delivery via the Panama Canal to its home port, Nelson. Sealord fleet manager Bill Healey said the ship was still in its commissioning stages and working towards full capacity, which was to catch, process and ... Read More »

Greek Casino Project Considers Pitches From U.S. Companies

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Greece is undergoing a potentially country-defining construction project. America’s largest gambling operators want to be a part of it. Ryan Batler gambling Four leading U.S. companies are among a group of five meeting with Greek officials in the coming weeks to discuss the lone license to open a mammoth new casino in the country, according to a report from Ekathimerini, an international edition of the… These companies will discuss investment terms and demands from the Hellenic Gaming Commission, which is ... Read More »

Greece’s “Bailout” Was a Disaster for Greece

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Some bailout that turned out to be. The European Stability Mechanism disbursed its final tranche of loans to the Greek government on Aug. 6. On Aug. 20, the program officially ended, although the loans are not expected to be fully repaid for another half-century. Matthew C. Klein Barron’s If their purpose was to support the Greek economy, the emergency loans must be considered a failure. Since 2008, the economy has shrunk by a quarter, and more than 400,000 Greeks have ... Read More »

The Turkish Currency Crisis And What It Can Teach Us

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Turkey’s currency turmoil follows a well-known scenario. It is one more case in the long series of financial crises that afflict the international monetary system. Antony Mueller Seeking Alpha Just over the past two-and-half-decades, international markets experienced the crisis of the British pound (1992), the Mexican and Argentinean currency crises (1994), the East Asia currency turmoil (1997), and the collapse of the… In 2007, the liquidity-driven housing boom in the United States began to falter and Lehman Brothers filed for ... Read More »

Is China worsening the developing world’s environmental crisis?

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The developing world is in the midst of an environmental crisis. Simply breathing the air is a leading cause of death. Jonas Gamso The Conversation One recent study found that pollution is to blame for a fifth of sub-Saharan Africa’s infant deaths. Another showed that exposure to toxins or other dangerous substances in the air killed over 9 million people in 2015 alone, with 92 percent of those deaths occurring in developing countries – this is more people than were ... Read More »

The stacks of cash needed to buy basic goods tell Venezuela’s insane inflation story

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In a desperate bid to curb its runaway inflation rate, Venezuela has lopped five zeros from its currency. Edmund Heaphy Quartz The move yesterday, which came along with a 95% devaluation of the currency—known as the “strong bolívar”—was also accompanied by a hike in gas prices and a 3,000% increase in the minimum wage. New banknotes for the currency, now called the the “sovereign bolívar”, were introduced. The redenominated bolívar is now pegged to the petro, a state-run cryptocurrency that doesn’t ... Read More »

How new Silk Road will cement China as major trading partner for Africa

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In 138 BC China took its first step towards global connectivity with the establishment of the historical Silk Road. Authors: The Conversation Zhang Qian was sent by Emperor Wudi to Central Asia to establish trade relationships. His historic missions enabled China to make contact with the outposts of Hellenic civilisation established by Alexander the Great. These efforts enabled Emperor’s Han dynasty to develop political and trade relationships with Central Asian countries. New ideas came to China, along with new plants ... Read More »

The Greek Financial Crisis May Be Over, but Greece, and the Eurozone, Will Never Be the Same

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Like many English words, “crisis” has a Greek origin — the word “krisis,” which in its initial form meant “a decisive moment.” Stratfor It is an ironic twist of fate that during the past decade the word has become so intimately linked to the country where it first originated. In recent years, any discussion about Greece has demanded acknowledgement of the deep financial, economic, political and social crisis that has afflicted the country since the late 2000s. And that makes ... Read More »

Greece exits its third bailout – but eurozone still has much to learn from the crisis

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After nine years of unprecedented peacetime economic hardship, Greece exits its IMF bailout programme on August 20. Dimitrios Syrrakos The Conversation So ends a series of three bailouts organised by the so-called troika of the IMF, European Central Bank and European Commission. A total of €336 billion was lent to Greece in the wake of the financial crisis, to stop it defaulting on its national debt, with approximately €300 billion used so far. What’s more, over 90% of the funds ... Read More »

Denmark as a Model for American Socialists?

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Here are some facts to consider before American “democratic socialists” look to Denmark for guidance, as Senator Bernie Sanders did during the 2016 presidential campaign. Lars Hedegaard Gatestone Institute First of all, Danes actually pay for their brand of socialism through heavy taxation. In Denmark, everyone pays at least the 25% value-added tax (VAT) on all purchases. Income tax rates are high. If you receive public support and are of working age and healthy enough to work, the state will ... Read More »