Economy

A year after Brexit, in figures

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By the numbers From migration to Scottish Tories, what’s changed in the UK? Ginger Hervey  Politico Today marks the one-year anniversary of Britain’s vote to leave the European Union. Much has changed in the country since then — a new prime minister, a resurgent Labour under Jeremy Corbyn, the Queen wearing a flag on her… Here are some of the more notable numbers from the… A year after… Read More »

Finnish citizens given universal basic income report lower stress levels and greater incentive to work

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Participants receive €560 (£473) every month for two years and do not have to demonstrate that they are actively seeking work Ben Chapman Independent Finland has been giving 2,000 of its citizens an unconditional income for the last five months and some are already seeing the benefits, reporting decreased stress, greater incentives to find work and… The scheme is the first of its kind in Europe and sees participants receive €560 (£473) every month for two… Finnish citizens given… Read More »

Let Us Not Ignore Our Ocean, EEZ’

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Minister for Fisheries, Semi Koroilvesau spoke to more than 50 Republic of Fiji Military Forces (RFMF) personnel at the RFMF Training Centre in Vatuwaqa over the weekend on Fiji’s Exclusive Economic Zone (EEZ) and… FijiSun “Ideally, this topic should of concern to every Fijian as it is this important geographical feature that has given us the greater bounds within which we have derived great values and… “Fiji, like any other island state, is surrounded by the… Let Us Not… Read More »

Ten years since the global financial crisis, world still suffers ‘debt overhang’

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It is almost exactly 10 years since the financial world began a wobble that would swing into what we now know as the global financial crisis. Nassim Khadem Brisbane Times On June 22, 2007, the public downfall of New York-based global investment bank Bear Stearns began in earnest. America’s then fifth-largest investment bank was among a number of Wall Street giants exposed to bad bets on the US subprime mortgage… Ten years since… Read More »

Is it fair that rich EU countries pay for the development of poorer EU countries?

Money 1a Flickr Thomas Galvez

Should more money be taken from the rich to give to the poor? However we dress it up, this is arguably the most fundamental issue in any democratic system. Debating Europe It’s even more relevant today as global inequality continues to rise. Yet, as the collapse of the Venezuelan economy illustrates, it’s not exactly straightforward. Things become even more complex when transfers of wealth are taking place across borders, where a sense of national solidarity is not at… Is it fair… Read More »

Japan warns Russia not to conduct survey in EEZ without permission

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Tokyo has asked Russia not to conduct marine surveys or resource exploration within Japan’s exclusive economic zone without permission, Foreign Minister Fumio Kishida said Tuesday. the japan times Kyodo On the morning of June 5, the Japan Coast Guard spotted a Russian vessel hanging what appeared to be a wire within Japan’s EEZ near the Soya Strait, which lies between Hokkaido and the Russian island of Sakhalin, Kishida told a news conference. The Foreign Ministry told the Russian Embassy in ... Read More »

Meadows: Freedom Caucus eyeing $1.5 trillion debt ceiling increase

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Some House Freedom Caucus conservatives want to raise the debt ceiling by a smaller amount than the Trump administration would like — just long enough to clear the 2018 mid-term elections, the… Rachael Bade Politico The Freedom Caucus has not taken an official position on a specific… But Chairman Mark Meadows emerged from a group meeting Tuesday night saying some of his conservative colleagues are looking at a $1.5… Meadows: Freedom Caucus… Read More »

Ali Sherif al-Emadi: Sanctions will not harm economy

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Finance minister says Qatar can defend economy and currency against tough sanctions imposed by neighbouring GCC nations. Al Jazeera and news agencies Qatar can easily defend its economy and currency against sanctions by other Arab states, Qatari finance minister Ali Sherif al-Emadi told CNBC television in an interview broadcast on… He said that the countries that had imposed sanctions on Qatar would also lose money because of the damage to business in the… Ali Sherif al… Read More »

Govt working on legal framework for quick offshore auction

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The government today said that the mines ministry is closely working with its law counterpart to evolve an enabling framework which would result in auction of offshore mineral blocks… DNA “We are working with the Law Ministry to work on what enabling framework can be quickly brought up by which we can quickly start that auction,” Mines Minister Piyush Goyal said while addressing a… As far as the current law is concerned, Goyal said, there… Govt working on… Read More »

Xi: Security key to development

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SCO members urged to strengthen coordination in fighting terrorism President Xi Jinping sent a strong voice of fighting terrorists and safeguarding regional peace during a summit of the Shanghai Cooperation Organization in Astana, the capital of Kazakhstan, on… AN BAIJIE ChinaDaily China calls for the SCO to strengthen regional counterterrorism institution building to enhance the capacity of member states in coordination and… Xi: Security key… Read More »

Top 10 world’s most competitive economies

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China’s Hong Kong has ranked first on the world’s most competitive economies list for two consecutive… China Daily The United States, however, fell out of the top 3 this year, according to the International Institute for Management Development (IMD) in… The list consisted of ranking 63 economies based on 260 indicators – two thirds of which came from hard data, such as national employment and trade statistics, and the… Top 10 world’s… Read More »

Big Business Welcomes Anti-Slavery Legislation

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A coalition of Australian big businesses has backed calls to introduce Australia’s first anti-slavery legislation. Rachel McFadden Pb The Modern Slavery Act, introduced by the federal opposition to Parliament on Monday, will mean big business will be forced to clamp down on slavery in their supply chains. If passed, the policy will mean that major Australian companies will have to publicly report all of their efforts to identify and… Labor’s legislation also called for the Read More »

Brazil emerges from recession as GDP grows 1%

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Brazil’s economy has grown 1% in the first three months of 2017, putting an end to the country’s longest recession in history, officials have announced. BBC The GDP increase came after two consecutive years of negative growth, during which the Brazilian economy shrank by almost 8%. A record harvest of soybeans, one of Brazil’s main exports, gave the economy a… Brazil emerges from… Read More »

A new study shows how little tax the super-rich pay

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Wealth inequality may be worse than previously thought OF LIFE’s two certainties, death cannot be dodged even by the well-to-do. Taxes are another matter. The Economist Quantifying quite how much they manage to keep from the taxman, however, has always been tricky. One common approach governments take is to conduct randomised audits of… A new study… Read More »

US Oil Production Could Reach Historic Levels This Year

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U.S. oil production could break an all-time high of 10 million barrels per day by the end of the year, according to a new report. Michael Bastasch The Daily Caller Analysts at Rystad Energy are predicting U.S. crude oil output could top an old record set in November 1970 by the end of the year. Production is currently growing at 95,000 barrels per day per month this year, largely thanks to hydraulic fracturing into shale… US Oil Production… Read More »

Grandfathering the Australian dream

Key broken 1a Richard Wareham Getty Images

House prices, insecure work and growing debts … Who can afford a stake in today’s society? Richard Denniss The Monthly The Liberal Party of Robert Menzies wanted all Australians to own their own home. The Liberal Party of Malcolm Turnbull wants us all to be landlords. The times, they are a-changin’. Australia’s longest-serving prime minister set out, quite deliberately, to give young people a physical and financial stake in the… Grandfathering the Australian… Read More »