Economy

Japan has a form of capitalism that works

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Japan deserves the Nobel Prize for applied economics. I say this not because Japan’s capitalism has no flaws, but because the overall outcome produced by the Japanese economic system is extremely… Jesper Koll The Japan Times Japan manages to balance income growth and income distribution so well that, unlike many other advanced economies, Japan’s society is resilient against the rise of popular nationalism a-la Donald Trump in America, Jean-Marie Le Pen in France or Xi Jinping in… The goal of ... Read More »

Portugal to Modernise Railway System and Increase Spanish Trade Via Upcoming Southern European Rail Line

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This spring, Portugal, Spain and the EU Commissioner of Transport announced plans to construct a new freight line that will link southern Portugal with Spain, upgrading Portugal’s railways and providing long-term economic benefits to the… Katrina Pirner SouthEUSummit Portugal is working in tandem with the EU to build a railway that will bring more logistical ease to companies transporting products to the country’s nieghbour and biggest trading partner, Spain. This is one of many infrastructure projects that highlights how the ... Read More »

EU says protectionism poses threat to economic growth

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BRUSSELS, May 3 (Xinhua) — The European Commission said on Thursday that the eurozone growth was still set to remain strong, but warned an escalation of trade protectionism poses threat to global economic growth. According to the Spring 2018 Economic Forecast, the growth rates for the European Union (EU) and the euro area beat expectations in 2017 to reach a ten-year high at 2.4 percent. Growth in both the EU and the eurozone is set to remain strong in 2018 ... Read More »

Balkans: The troubled IGB pipeline in flesh and blood

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Approximately 145 million euros is expected to be available shortly by the ICGB consortium managing the Gas Interconnector Greece-Bulgaria gas pipeline on the occasion of the call for tender for the design and construction of the project. By Nefeli Tzanetakou / ibna This tender foresees the completion of the gas pipeline within 18 months. The launch is planned for the end of this year. The selection of a sponsor or consortium will take place in two phases, a pre-selection, where ... Read More »

Eastern Mediterranean: International Arbitration for ‘Venus’

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Cyprus and Israel are expected to resume international arbitration in order to put an end to their seven-year dispute over the exploitation rights of the “Aphrodite” (“Venus”) field. By Nefeli Tzanetakou / ibna On May 8, a two-sided meeting in Nicosia is scheduled to take place, with the participation of Greece, where, among other things, the implementation plan for the East Med pipeline, which is expected to transport the… In 2010, Cyprus and Israel co-signed the demarcation agreement relevant to the ... Read More »

Moscow’s Maritime threats to Ukraine and the West

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Since invading Ukraine in 2014, Moscow has become significantly bolder. Russia has expanded into Ukraine’s Exclusive Economic Zone (EEZ), the body of water up to 200 miles from the country’s coast that is internationally recognized as its legal territory. Stephen Blank 112 international Russia’s recent naval activity around Ukraine and the Baltic Sea is more than simply a threat to countries in the region. In fact, it represents a challenge to the international order, one that could be replicated by ... Read More »

Boeing buys aviation parts maker KLX for $4.25B

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Boeing announced Tuesday that it reached an agreement to acquire aerospace parts distributor KLX for $4.25 billion as it boosts its aviation services business. Daily Sabah Boeing executives described the move as a significant step in bolstering its global services segment, which was launched last year and aims to increase annual revenues from $15 billion in 2017 to $50 billion in five years. “This acquisition is the next step in our services growth strategy, with a clear opportunity to profitably ... Read More »

Why you can’t have free trade and save the planet

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When Donald Trump recently announced tariffs on steel and aluminium imports he was condemned by proponents of free trade across the world. His critics said the US president had not understood how protectionist policies would spell disaster for the world economy. Alf Hornborg The Conversation Fair enough. But this is the same Trump whose decision to withdraw from the Paris climate agreement also met with massive disapproval. Trump is simultaneously chided for refusing to cut emissions, and for promoting a ... Read More »

Why France banned meat names for vegetarian alternatives

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France recently passed an amendment to its Agriculture Bill. It prohibits any product that is largely based on non-animal ingredients from being labelled like a traditional animal product. Malte B. Rödl The Conversation This essentially bans product names such as “vegetable steak”, “soy sausage”, or “bacon-flavoured strips”. The argument is that consumers might be misled into believing the products were real meat. Commentators have pointed out how bizarre this claim is, given that these products can easily be distinguished from ... Read More »

Eastern Mediterranean States Seek Framework to Sell Gas to Europe by Year-End

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Undersea pipeline would be the longest and deepest in world Sides negotiating ‘very seriously’ on project: Israel official Israel is trying to finalize working agreements with European governments interested in buying natural gas from the eastern Mediterranean region by the end of the year, according to the country’s energy minister. By Yaacov Benmeleh and David Wainer Bloomberg Greece, Cyprus, Italy and Israel are pushing a 6 billion euro ($7.3 billion) project to build a pipeline that would expand the export markets for gas ... Read More »

Turkey awards multibillion-dollar contract for indigenous Altay tank

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ANKARA, Turkey — BMC, a privately owned Turkish-Qatari armored vehicles manufacturer, has won a multibillion-dollar contract for the serial production of the Altay, Turkey’s first indigenous, new-generation main battle tank in the making. By: Burak Ege Bekdil DefenseNews A top procurement official confirmed the decision. “We will start contract negotiations with this group, as it emerged as the best bidder,” the official said. Turkey’s defense procurement agency, the Undersecretariat for Defense Industies, or SSM, has been reviewing bids from three ... Read More »

How a proposed Russian pipeline to Europe is dividing the West

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MUKRAN, Germany — The steel-and-concrete pipes measure 36 feet long, weigh 24 tons and, if a Russian-led consortium has its way, will stretch for nearly 800 miles along the bottom of the… by Griff Witte and Luisa Beck The Washington Post Being churned out by the thousands at a waterside factory on this German island, the pipes offer evidence that Moscow will soon have a vital new means to sell its gas to continental Europe. But what the $12 billion pipeline ... Read More »

China’s consumer demand trumps political friction, says Alibaba boss

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The chief executive of Alibaba Group, the Chinese retail goliath often described as Asia’s Amazon, says rising political tension between China and Australia has not damaged business or trade relations. Patrick Hatch The Age Daniel Zhang instead insists that demand from middle-class Chinese consumers is too great to be disrupted by geopolitical friction, and sees “tremendous” growth ahead for Australia exporters to the region. Some business leaders, including Andrew “Twiggy” Forrest, have criticised domestic debate about Chinese Communist Party influence on Australian politics and China’s ... Read More »

Egypt possesses keys of future of Eastern Mediterranean oil: Min.

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CAIRO – 24 April 2018: Minister of Petroleum and Mineral Resources Tarek el-Molla said on Tuesday that Egypt and the European Union (EU) signed a memorandum of understanding on cooperation and strategic partnership in the domain of energy. By: MENA In his speech at the inaugural ceremony of a renewable and sustainable energy forum between Egypt and the EU, he added that the agreement helps enhance joint cooperation in the long run. Egypt and the EU are about to start ... Read More »

Starbucks’ racial bias training alone won’t fix a racist society

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I’ve found myself tweeting my moral outrage a lot recently. From #DrivingWhilstBlack to #WalkingWhilstBlack, #LivingWhilstBlack and #EatingWhilstBlack, there have been endless occasions when African Americans are punished for merely being in public spaces. Ornette D Clennon The Conversation The latest took place at a Starbucks coffee shop in Philadelphia. Two African American men were arrested for apparently sitting and waiting for a friend to arrive. It follows a long list of events, including police shootings and high-level harassment of unarmed ... Read More »

Mexico’s EU trade deal lands a punch on Trump

European Union Commissioner for Trade Cecilia Malmstrom (L) and Mexico's Minister of Economy Ildefonso Guajardo Villarreal talk to the media in Mexico City, on May 8, 2017. / AFP PHOTO / PEDRO PARDO        (Photo credit should read PEDRO PARDO/AFP/Getty Images)

Accord with Brussels comes as Washington squeezes Latin American country in NAFTA talks. By HANS VON DER BURCHARD AND CHRISTIAN OLIVER Politico Mexico delivered a defiant political riposte to U.S. President Donald Trump on Saturday by agreeing a trade deal with the EU. Trump’s push to renegotiate the North American Free Trade Agreement helped catalyze Mexico’s talks with Brussels over the past year, as the Latin American country sought to diversify away from dependence on an increasingly hostile… Diplomats said that German Chancellor Angela Merkel and… ... Read More »