Economy

George Soros: Theresa May won’t last and Donald Trump is ‘would-be dictator’

George Soros 2b Anadolu Agency & Getty Images

Billionaire investor delivers bleak Brexit forecast at World Economic Forum and says Donald Trump is ‘gearing up for trade war’ but will… •Donald Trump inauguration live: the world holds its breath •Inauguration day schedule: our guide to the day Graeme Wearden, Larry Elliott in Davos and agencies The Guardian Theresa May will not remain in power long as Brexit cripples her government, while Donald Trump is a… George Soros: Theresa… Read More »

Congress moves to give away national lands, discounting billions in revenue

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Though recreation on public lands creates $646bn in economic stimulus and 6.1m jobs, Republicans are setting in motion a giveaway of Americans’… Heather Hansman The Guardian In the midst of highly publicized steps to dismantle insurance coverage for 32 million people and… Congress moves to… Read More »

Ethiopia’s coffee farmers eye more fair trade amid rising share in global market

Ethiopia - Daily Sabah

When you enjoy a warm cup of coffee from a cafe run by an international chain like Starbucks, you may hardly realize that the unique flavor may be coming out of Ethiopia. Addis Ababa Daily Sabah You are also unlikely to hear the refrain of millions of coffee farmers in the eastern Africa nation, the majority of who do not reap the benefits of their hard-earned produce. For every kilogram of… Ethiopia’s coffee farmers eye more… Read More »

Middle classes in crisis, IMF’s Christine Lagarde tells Davos 2017

Lagarde 1a Ruben Sprich Reuters

IMF head wins support from outgoing US vice-president Joe Biden as she uses American term for working people in demanding action over rising… Larry Elliott in Davos The Guardian The head of the International Monetary Fund, Christine Lagarde, has called for urgent action to tackle a “middle-class crisis” hitting working people as… Middle classes in… Read More »

Southeast Asia’s newest nation faces an election that could make or break its future

Timor Oil 1a Antonio Dasiparu EPA

With much of the population living in poverty and oil wealth running dry, Timor-Leste’s upcoming elections could be the public’s most important decision since… David Hutt South East Asia Globe “Our people need money,” said then-President Xanana Gusmão the day after Timor-Leste gained independence from Indonesia in… Southeast Asia’s newest… Read More »

The Geopolitics of 2017 in 4 Maps

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International relations and geopolitics are not synonymous… at least, not the way we understand them at Geopolitical… By George Friedman and Jacob L. Shapiro Mauldin Economics “International relations” is a descriptive phrase that encompasses all the ways countries behave toward one… “Geopolitics” is the supposition that all… The Geopolitics of… Read More »

Stark inequality: Oxfam says 8 men as rich as half the world

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DAVOS, Switzerland (AP) — The gap between the super-rich and the poorest half of the global population is starker than previously thought, with just eight men, from Bill Gates to Michael Bloomberg, owning as much wealth as 3.6 billion people, according to an… Pan Pylas Associated Press Presenting its findings on… Stark inequality: Oxfam… Read More »

Border tariff fears as UK edges towards hard Brexit

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Theresa May expected to say Britain prepared to exit single market and customs union Pat Leahy, Gerry Moriarty The Irish Times Fears that Britain will leave the European Union’s customs union, raising the prospect of tariffs on goods moving across the Border, have intensified in Dublin following leaks of British prime… Border tariff fears… Read More »

Aid in reverse: how poor countries develop rich countries

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New research shows that developing countries send trillions of dollars more to the west than the other way around. Why? Jason Hickel The Guardian We have long been told a compelling story about the relationship between rich countries and poor… The story holds that the rich nations of the OECD give generously of their wealth to the poorer nations of the global south, to help them eradicate poverty and push them up the development… Aid in reverse… Read More »

For Israel, energy boom could make friends out of enemies

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ABOARD THE ATWOOD ADVANTAGE — In the ship’s control room, facing four video screens, a driller from Mississippi in dark shades and a black baseball cap with a skull on it held what could be the future of Israel in his… Peter Baker, New York Times The Boston Globe The massive drill he controlled extended down 11,345 feet, more than 2 miles below the… For Israel, energy … Read More »

Are global stock markets headed for a meltdown?

Icarus Trade 1a Photo Christopher Nielsen

Bank of America calls it the Icarus Trade. Global stock markets will surge by another 10 per cent in a parabolic “melt-up” this quarter, akin to the final stage of the… Ambrose Evans-Pritchard The Daily Telegraph, London The Sydney Morning Herald This will be followed by a mirror “melt-down” later in 2017 as the US Federal Reserves squeezes global liquidity, and rising bond yields puncture the… Are global stock… Read More »

Total’s Cyprus Block 11 could rival Egypt’s Zohr discovery, IHS Markit says

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HOUSTON — Driven by the success of Eni’s major Zohr field gas discovery offshore Egypt in 2015, companies are rethinking the Eastern Mediterranean region’s gas potential, according to new analysis from IHS Markit. Total’s announcement that… World Oil “The Zohr gas discovery in… Total’s Cyprus Block… Read More »

The calm before the storm for China inflation

China - Asia Times

Acceleration of supply side reforms may push up consumer prices faster than expected, with medical inflation already at its highest since 1997 Steve Wang Asia Times China economists have been nodding off at the wheel on inflation figure predictions, underestimating how quickly prices are rising across factory gates and potentially overlooking the trickle down effect on consumers. The biggest surprise in… The calm before the… Read More »

Total’s Offshore Cyprus Block 11 Could Rival Egypt’s Zohr Natural Gas Discovery; Increasing Investment and Competition in Region, IHS Markit Says

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Total to drill one of E&P industry’s most critical wells in 2017, as interest grows in region IHS Driven by the success of Eni’s major Zohr Field gas discovery offshore Egypt in 2015, companies are rethinking the Eastern Mediterranean region’s gas potential, according to… Total’s Offshore Cyprus… Read More »

Do Indians Really Support Modi’s Currency Swap?

India - The National Interest

The real test for Modi comes in the form of five key state elections scheduled for February and March. Lisa Curtis The National Interest On the same day Americans elected Donald Trump to power, Indian Prime Minister Narendra Modi made a surprise announcement: 500 and 1,000 rupee notes (86 percent of Indian currency in circulation) would no longer be valid. By New Year’s Eve, Modi was… Do Indians Really Support… Read More »

EU spots opportunity in Brexit to fix funding wars

BERLIN, GERMANY - AUGUST 29: Italian Prime Minister Mario Monti speaks during a news conference with German Chancellor Angela Merkel at the German federal Chancellory on August 29, 2012 in Berlin, Germany. Merkel and Monti discussed the crisis in the Eurozone, part of a series of meetings that Merkel has held after the summer break during heightened concerns over the economies of Italy, Greece and Spain.  (Photo by Adam Berry/Getty Images)

The UK’s departure could be used to change the tone of the budgetary debate. Paul Taylor Politico PARIS — Britain’s impending exit from the European Union is a unique opportunity to shake up, simplify and detoxify the way the EU funds itself. That is the message of… EU spots opportunity in… Read More »