Finance

What’s the real price of getting rid of plastic packaging?

SARANGKOT, KASKI DISTRICT, NEPAL - 2016/10/02: Empty Coca Cola bottles in crates are piling up. (Photo by Frank Bienewald/LightRocket via Getty Images)

The Economics of Change Crunching the numbers of how much switching might cost us How much would it cost to switch to plastic alternatives? Richard Gray crunches the numbers. By Richard Gray BBC Walking along a short section of stony beach, Claire Waluda stoops briefly to pick up something from between the rocks. It is a brightly coloured plastic bottle top – just one of hundreds of bits of plastic that she finds washed ashore on the remote, windswept island ... Read More »

Lessons in Chinese history as America shuts off from the world

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Those who have studied history understand the importance of being engaged in the global economy. Walid Hejazi The Conversation Two thousand years ago, China represented nearly 25 per cent of the global economy. In 1600, it was 30 per cent, and a third in 1820. The country was a global powerhouse, to say the least. There is a famous story from 1792 when King George III’s ambassador led a trade mission to China with a cargo of the latest European ... Read More »

Qatar to maintain LNG dominance despite regional embargo

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In 2017, Qatar produced 18.1 billion cubic feet of natural gas per day (bcfd). Almost all natural gas comes from various developments on the North Field, which is considered the largest non-associated gas structure in the world. By GlobalData Energy Hydrocarbons Technology The field has a combined processing and export capacity of 77.4 million tonnes per annum (mtpa) of LNG. The Qatargas and Rasgas projects are the largest contributors to production on the field and are joint ventures between Qatargas ... Read More »

An Alternative Way to Deal with the Cyprus Co-Op Bank

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Socialising the losses and privatising the gains I have written two articles on the subject of “the Deal” sought and negotiated by the Government for privatising the ailing Co-Op Bank in Cyprus. Savvas Savvides StockWatch I continue here with “Socialising the losses and privatising the gains – Part 3” which provides an alternative proposal than the one that the Government arrived at with Hellenic Bank. It makes the argument that the concessions made in desperation to the Hellenic Bank (which ... Read More »

China-Pakistan Economic Corridor: Opportunities and Risks

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The China-Pakistan Economic Corridor, opened in 2015, could bring needed jobs and investment to Pakistan. But many projects also risk widening social divides and heightening political tensions along the route. With Beijing’s support, Islamabad should seek the… ICG What’s new? Pakistani leaders say the China-Pakistan Economic Corridor (CPEC), launched in 2015, is a “game changer” for the country’s ailing economy. But opaque plans for the corridor, the upheaval likely to affect locals along its route, and profits flowing mostly to ... Read More »

How the Iran sanctions drama intersects with OPEC-plus

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Major states buying oil from Iran are unlikely to heed the US call to drop imports; key allies want a waiver to avoid sanctions; OPEC, meanwhile, will have trouble boosting output in the short-term; the puzzle is not solved, but there are dark clouds. Pepe Escobar Asia Times History may have registered stranger geoeconomic bedfellows. But in the current OPEC-plus world, the rules of the game are now de facto controlled by OPEC powerhouse Saudi Arabia in concert with non-OPEC Russia. Russia ... Read More »

Macron on Trump suggestion to leave EU: ‘You can imagine my response’

French President Emmanuel Macron gestures as he visits  France's national football team players   in Clairefontaine-en-Yvelines, southwest of Paris, on June 5, 2018, during the squad's preparations for the FIFA World Cup 2018 in Russia. - France's players are in Clairefontaine-en-Yvelines as part of the team's preparation for the upcoming FIFA Football World Cup 2018 in Russia. (Photo by FRANCK FIFE / AFP)        (Photo credit should read FRANCK FIFE/AFP/Getty Images)

The US president offered a better trade deal for France than with the rest of the EU. Andrew Gray Politico French President Emmanuel Macron said Friday he would not comment directly on a report that Donald Trump suggested France leave the EU — but his commitment to Europe made clear what his response would have been. Back in April, Trump proposed to Macron that France leave the EU, the Washington Post reported, citing two European officials, and said that if Paris ... Read More »

China caught in a conundrum over economic policy

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Central bank governor Yi’s calming message fails to ease market and currency concerns as NIFD warns of ‘financial panic’ in leaked report Gordon Watts Asia Times Stay calm and don’t panic. Sound advice. But it appears no one is listening to Yi Gang, the People’s Bank of China governor. As fears grow of a trade war between Beijing and Washington, the… Last week, Yi called for investors to “remain calm” after the benchmark Shanghai Composite Index dropped 3.78%, dipping below ... Read More »

It’s not personal, but Twiggy is making life hell for Gina

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As the Queen and Prince of Australia’s iron ore industry, Gina Rinehart and Andrew Forrest going head to head in a fight over junior producer Atlas begs the question of whether the battle is personal or strategic. Elizabeth Knight The Sydney Morning Herald Given the history of animosity between these two big personalities – one which exploded into the public arena during the mining tax saga – there is undoubtedly an element of the personal involved in this contest. There has been ... Read More »

How to exit the eurozone

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Italy is right to consider leaving the EU’s common currency area. Joseph Stiglitz Politico What’s the best way to leave the euro? That question is now back on the table after a Euroskeptic government took charge in Italy. Yes, key ministers have pledged to keep the country in the EU’s common currency area. But those commitments should not be seen as immutable. They must be considered in the context of Italy’s broader bargaining position: The new government wants to make it ... Read More »

While Iconic Brands Feel Tariff Pain, Corporate America Braces for More

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With the U.S.-versus-the-world trade war threat heating up, Harley-Davidson Inc. and Jack Daniel’s maker Brown-Forman Corp. may just be the canaries in the coal mine. By Jonathan Roeder and Hema Parmar * Bloomberg Both iconic American brands — singled out for tariffs in part to inflict maximum pain on U.S. districts that voted for President Donald Trump or his allies — have warned investors that retaliatory measures will have tangible effects on… Wall Street should expect more companies to disclose pain ahead when they report second-quarter results in… ... Read More »

Poor but Proud

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The next meeting of the European Council, set to take place on June 28, 2018, promises a certain level of intrigue. Elena Alekseenkova RIAC One reason for this is the expectation that the new Italian government, formed on the basis of the March 4 elections after 80 days of coalition talks and conflict between the president and parliament, will present an ultimatum to Brussels. The ultimatum is expected to include the following points: 1) The cancellation of Italy’s €250-billion debt ... Read More »

History is made: Everything you need to know about Greece’s deal to pay back $300 billion

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The euro zone granted fresh debt relief measures to Greece last week after years of long arguments over the issue. Silvia Amaro * Analysts told CNBC the deal was “very satisfactory” and a “win” for Greece, which has demanded such concessions since 2015. How did we get here? Greece has been relying on external help in the form of loans to stay afloat since 2010. It’s now due to put an end to that on August 20. This is a ... Read More »

Why the debt deal with the EU is bad for Greece

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The new Eurogroup agreement commits Greece to 40 more years of austerity and supervision. Jerome Roos AlJazeera Shortly before coming to power in January 2015, Alexis Tsipras – then still known as an outspoken Greek opposition leader and unconventional anti-austerity firebrand – vowed not to wear a tie until international lenders agreed to cut his country’s towering debt load to sustainable levels. On Friday evening, the 43-year-old prime minister, who has since presided over three years of highly unpopular austerity measures ... Read More »

Greece Will Be Stuck In Its Bailout for Years to Come

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The exit terms make it difficult for the next Greek governments to chalk up any wins. Leonid Bershidsky Bloomberg In a way, the debt relief deal Greece has received as it exits its bailout makes good sense: It keeps the country on a tight leash, all but eliminating the possibility that it will go on a borrowing spree in the financial markets and misspend the money as it’s done… On the other hand, the scheme gets superimposed uncomfortably onto the ... Read More »

The real reason Saudi Arabia lifted its ban on women driving: economic necessity

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After years of campaigning by women activists, on June 24 the ban on women driving in Saudi Arabia will be lifted. Martin Hvidt The Conversation It is the most visible of a bundle of recent initiatives taken by the Saudi king and the crown prince, Mohammad bin Salman, to strengthen the role of women in Saudi society. These include more public sector job openings for women, an apparent relaxation of women’s strict dress code, the extension of suffrage to women ... Read More »