Economy

Lloyd’s begin post-Brexit financial exodus with shock decision that will delight Juncker

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LLOYD’S of London have started their post-Brexit financial exodus by opening up a new financial hub in Brussels, the capital of the European project. Oli Smith Express Inga Beale, chief executive officer at Lloyd’s of London, picked Brussels to set up the new post-Brexit financial centre. The decision to move jobs to Brussels will fly in the face of Brexiteers who rejected the EU – including the insurer’s chairman Lord Blackwell, who is a well-known pro-Brexit… Lloyd’s begin post… Read More »

Russia, Saudi Arabia call to extend oil output deal

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The world’s biggest oil producers Russia and Saudi Arabia on Monday called for the extension of an output reduction deal ahead of an OPEC meeting later this month. Daily Sabah with wires “To underscore the determination of oil producers to ensure market stability, predictability and sustainable development, the joint actions of participating producers should be… The statement added that Russian… Russia, Saudi Arabia… Read More »

University of Manchester to axe 171 staff amid Brexit concerns

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University points to threats to future income as union chiefs criticise ‘short-term cuts that will cause long-term damage’ Helen Pidd North of England editor The Guardian Britain’s largest university has set out plans to axe 171 jobs, mostly academic positions in the faculties of arts, languages, biology, medicine and business. The University of Manchester blamed new government legislation and the prospect of Brexit as major factors threatening its… University of Manchester… Read More »

Sudanese-Italian economic forum held in Rome

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May 9, 2017 (KHARTOUM) – The third Sudanese-Italian economic and investment forum has been held Tuesday in Rome with the participation of 135 Italian companies. In a statement seen by Sudan Tribune, Sudan’s foreign ministry said the chairman of the Italian Federation of Industries Giovanni Otati praised the enormous economic potential enjoyed by the Sudan. Otati, who addressed the… Read More »

Data is giving rise to a new economy

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Fuel of the future How is it shaping up? AN OIL refinery is an industrial cathedral, a place of power, drama and dark recesses: ornate cracking towers its gothic pinnacles, flaring gas its stained glass, the stench of hydrocarbons its heady incense. The Economist Data centres, in contrast, offer a less obvious spectacle: windowless grey buildings that boast no height or ornament, they seem to stretch to infinity. Yet the two have much in… Data is giving… Read More »

Automakers: UK car industry will stall without Brexit deal

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British carmakers will struggle to absorb costs and face problems over rules of… JAKOB HANKE & JOSHUA POSANER Politico Britain’s car industry has issued a stark warning that it will struggle to compete if Prime Minister Theresa May delivers on a threat to walk away from an… The nightmare scenario for British industry is that the U.K. will crash out of the EU without a trade deal in 2019 and move on to tit… Automakers: UK car… Read More »

A Perspective of Evolution, Development and Growth Beyond the Town Nucleus: Special Reference to the Cyprus Case

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The varying official definitions of rural areas are attributed to the distinctions in terms of dispersed population, an often agricultural – based economy, and distance from major urban centers, as well as lack of access to major… Mattheos Economides Growth in world population and economy had as a result, severe environmental damage and unsustainable exploitation of the… The international community should determine… A Perspective of… Read More »

Trump, in new tax plan, promises to do what Reagan couldn’t

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At the center of President Trump’s plan to dramatically cut taxes on businesses and individuals is a promise to stimulate extraordinary economic growth, so much so, his advisers say, that the… Max Ehrenfreund The Washington Post If he succeeds in keeping that promise, Trump will have accomplished something his tax-cutting Republican predecessors failed to… In describing the proposal Wednesday, Trump’s top… Trump, in new… Read More »

Eureka! the price is right

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Asia Times had one excited economist this week as a deeper delve into the first-quarter growth data threw up some intriguing… STEVE WANG Asia Times Anyone fortunate enough to have shared an office with a follower of the dismal science will know that when a eureka moment strikes, the… “I’d like to thank my mom, my first grade math teacher, professor Ma … ad… Eureka! the price… Read More »

Property feeds the roots of inequality in Britain. Inheritance will entrench it

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The homes passed on from this fortunate generation to the next will determine who is rich and who is poor in years to… Ian Jack The Guardian What did our grandparents leave us? That will depend on who they were and what they possessed, but in my case, not untypical of my generation, it wasn’t very… From my father’s side the treasures included: a stuffed canary; a tiny stuffed crocodile (a… Property feeds the… Read More »

Independence ‘reckless’ amid new UK-dependent jobs figures

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The prospect of a second independence referendum has been branded “reckless” after new figures revealed that more than half a… SCOTT MACNAB The Scotsman The move came as Nicola Sturgeon again confirmed she wants an independent Scotland to join the EU – which is far less important to… The figures were seized on as evidence of the benefits of the Union as campaigning swung into top gear ahead of the 8 June,,, Independence ‘reckless’ amid… Read More »

‘Need to protect interest in Exclusive Economic Zone’

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CM also appeals for steps to safeguard fishermen from attack by Sri Lankan… TAMIL NADU The Hindu Chief Minister Edappadi K. Palaniswami on Monday urged that the Indian fishermen must be protected from attacks (by Sri Lankan Navy) and called for safeguarding the maritime interests of the… Speaking at an event on board INS Chennai , which was dedicated to the… ‘Need to protect… Read More »

Why Don’t All Jobs Matter?

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President Trump is still promising to bring back coal jobs. But the underlying reasons for coal employment’s decline — automation, falling electricity demand, cheap… Paul Krugman The New York Times Meanwhile, last week the Treasury Department officially (and correctly) declined to name China as a currency… So will the Trump administration ever do anything substantive to bring back mining and… Why Don’t All… Read More »

China factories put weight behind forecast-busting 6.9% GDP

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Economic growth accelerates in first quarter as signs emerge of recovery taking broader… STEVE WANG and BEN RICHARDSON Asia Times China’s economic growth accelerated for the second straight quarter, beating expectations as a robust performance by the nation’s manufacturers weighed in… Growth in the secondary sector of the economy — manufacturing and… China factories put… Read More »

Does Greece Need More Official Debt Relief? If So, How Much?

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Creditor countries and international organizations continue to disagree whether Greece should receive additional official debt relief, and… Jeromin Zettelmeyer (PIIE), Eike Kreplin (German Federal Ministry for Economic Affairs and Energy) and Ugo Panizza (Graduate Institute, Geneva) This paper first shows that these disagreements can be attributed to competing assumptions about Greece’s future capacity to repay, particularly about… It next evaluates the plausibility of… Does Greece Need… Read More »

Finally, a breakthrough alternative to growth economics – the doughnut

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Instead of growth at all costs, a new economic model allows us to thrive while saving the… George Monbiot The Guardian So what are we going to do about it? This is the only question worth asking. But the answers appear… Faced with a multifaceted crisis – the capture of governments by billionaires and their lobbyists, extreme inequality, the rise of demagogues, above all the… Even if they had the courage to act, they have no idea what to… Finally, ... Read More »