Economy

Green Gold: Global Avocado Boom Destroying Mexico’s Forests

Extreme demand for avocados is causing deforestation, along with other negative environmental effects, in Mexico, due to high profits for the fruit.. According to Mexico’s National Institute for Forestry, Farming and Fisheries Research, farmers are illegally destroying large areas of forest in the mountains of Michoacan, a… Source: Green Gold: Global Avocado Boom Destroying Mexico’s Forests Read More »

EU to invest €187.5m in Estonia-Finland gas pipeline

The European Union (EU) is set to invest €187.5m in the first Estonia-Finland gas pipeline, which will be known as Balticconnector. EU will also support infrastructure that is needed to unite the energy markets. The new pipeline will put an end to the gas isolation of Finland and… Source: EU to invest €187.5m in Estonia-Finland gas pipeline – Hydrocarbons Technology Read More »

China keeps testing Japan near disputed islands

TOKYO — Beijing appears to be asserting its claim to the disputed Senkaku Islands more actively this week, sending numerous ships into what Tokyo considers its exclusive economic zone. Chinese coast guard ships entered Japanese territorial waters around the East China Sea islands, which Beijing calls the Diaoyu, on three straight days through Tuesday, according to the… Source: China keeps testing Japan near disputed islands- Nikkei Asian Review Read More »

Putin-Erdogan meeting in St. Petersburg: Economy before politics

According to experts, talks between the Russian and Turkish presidents in St. Petersburg on Aug. 9 yielded impressive results on economic issues. At the same time analysts warn that many elements in relations between Moscow and Ankara depend on whether or not solutions to political problems will be found, primarily concerning the Syrian issue… Source: Putin-Erdogan meeting in St. Petersburg: Economy before politics | Russia Beyond The Headlines Read More »

Does TPP matter? Does Singapore matter?

During his recent trip to the US, Singapore Prime Minister Lee Hsien Loong, along with US President Barack Obama, made a joint pitch for the ratification of Trans-Pacific Partnership (TPP) trade agreement. However, the hope that the TTP would form the foundation of a robust and prosperous East Asian security regime centered on economic integration and positive US engagement is fading as China… Source: Does TPP matter? Does Singapore matter? – Asia Times Read More »

Sharing economy will have dramatic effect on workplace conditions, says law firm

In a world of digital disruption with the likes of Uber and Airbnb, the focus is now turning to how rapid changes to business and lifestyles could translate to the workplace. In a report released today, law firm Corrs Chambers Westgarth said there would be likely challenges to legal rights for both employers and employees given the move to contracting and more flexible work arrangements… Source: Sharing economy will have dramatic effect on workplace conditions, says law firm – ABC ... Read More »

IMF admits disastrous love affair with the euro led to immolation of Greece

The International Monetary Fund’s top staff misled their own board, made a series of calamitous misjudgments in Greece, became euphoric cheerleaders for the euro project, ignored warning signs of impending crisis, and collectively failed to grasp an elemental concept of currency theory. Ambrose Evans-Pritchard Source: IMF admits disastrous love affair with the euro led to immolation of Greece Read More »

Yahoo sold for $4.8bn to telecom giant Verizon

US mobile network provider buys the struggling internet company after a five-month auction.. Yahoo has agreed to sell its core assets to telecom giant Verizon for $4.8bn, ending a 20-year run by the internet pioneer as an independent company… Source: Yahoo sold for $4.8bn to telecom giant Verizon – News from Al Jazeera Read More »

Population growth stabilising, providing economic boost: UBS

Australia’s population growth stabilises at 1.4 per cent per annum, in positive news for the nation’s economic outlook, according to UBS.. By business reporter Michael Janda The investment bank observed that most of the slowdown in population growth had actually come from increased emigration… Source: Population growth stabilising, providing economic boost: UBS – ABC News (Australian Broadcasting Corporation) Read More »

The Eurasian Economic Union: Power, Politics and Trade

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Since its creation in 2015, the Eurasian Economic Union (EEU) has kept only a few of its promises. Its limited economic success cannot mask the many tensions between Russia and its neighbours. Much of the EEU’s future success will depend on its members’ will to shift away from geopolitics and focus on international cooperation, governance, social welfare and migration… Source: The Eurasian Economic Union: Power, Politics and Trade – International Crisis Group Read More »

France attacks bolster growing global fears, but long-term economic impact uncertain

The deadly truck attack in Nice, France, had an enormous human cost, but it may also weigh on the economy of a country – and a world – that has now seen several horrific terrorist incidents over a relatively short period of time. It is very hard to determine what impact a single tragedy can have on a huge economy such as France, said Craig Wright, chief economist at Royal Bank of Canada, but the fact that there have been ... Read More »

Clean energy won’t save us – only a new economic system can

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It’s time to pour our creative energies into imagining a new global economy. Infinite growth is a dangerous illusion. Jason Hickel The Guardian Earlier this year media outlets around the world announced that February had broken global temperature records by a shocking… March broke all the… Clean energy won’t… Read More »

Handful of multinationals behind 26.3% growth in GDP

Surprising growth figures affected by number of one-off factors in tech and aircraft leasinγ.. A handful of multinational companies in the tech, pharma and aircraft leasing sectors were responsible for an extraordinary jump in Ireland’s headline rate of economic growth last year… Source: Handful of multinationals behind 26.3% growth in GDP Read More »

Estimated cost of Hinkley Point C nuclear plant rises to £37bn

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Critics point to volatility of scheme but energy department says price ‘will not affect bill payers’.. The total lifetime cost of the planned Hinkley Point C nuclear power plant could be as high as £37bn, according to an assessment published by the UK government. The figure was described as shocking by critics of the scheme, who said it showed just how volatile and uncertain the project had become, given that the same energy department’s estimate 12 months earlier had been ... Read More »

‘Credibility of Europe’s trade policy at stake’

Commission dubbed ‘traitors’ for handing over approval of Canada trade deal to national parliaments.. If there was ever such a thing as an easy trade deal for the EU, Canada was supposed to be it. As Chrystia Freeland, Canada’s trade minister, put it last month: “If the EU cannot do a deal with Canada, I think it is legitimate to say: Who the heck can it do a deal with?”… Source: ‘Credibility of Europe’s trade policy at stake’ – POLITICO Read More »

ECB asks Italian lender to cut bad loans by 40%

Monte dei Paschi may have to raise capital quickly to meet the ECB’s target.. The European Central Bank has asked Italy’s third-largest lender, Banca Monte dei Paschi di Siena, to slash its bad debts by 40 per cent to €14.6 billion over three years, heaping more pressure on Rome and Brussels to stabilise the Italian banking system… Source: ECB asks Italian lender to cut bad loans by 40% Read More »