Economy

Refugees are helping others in their situation as social entrepreneurs

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While on the run from war, persecution and natural disasters, refugees are actually helping others in their situation. Jarrod Ormiston The Conversation They are creating organisations and enterprises that train and offer jobs to fellow refugees, giving them a fresh start. And its these enterprises that are also helping countries to overcome some of the challenges of economic and social integration. Our study mapped the… Refugees are helping… Read More »

Rich Pakistanis pay little under country’s unjust tax system

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The poor pay 80% of total taxes collected in Pakistan while the rich contribute a miserable 5% because of special rights, privileges or concessions F.M. Shakil Asia Times The poorest of the poor pay 80% of taxes collected in Pakistan while the rich, whose total contribution to overall tax revenue does not exceed 5%, enjoy special rights or… The poor pay huge indirect taxes on utilities, petrol, and mobile communication which come to 80% of the country’s total… The 36 ... Read More »

How Can Greece Pay Back China?

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EXECUTIVE SUMMARY: China and Greece have an almost entirely one-sided economic relationship. Roie Yellinek       BESA China’s deep involvement in Greece is part of a long-term strategy to achieve control of the marine paths from China to the EU. This strategy means China is willing to invest and take part in the rehabilitation of Greece – but there will be a price to be paid for… How Can Greece… Read More »

UK business group: Government has no ‘clear plan’ for Brexit

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The President of the Confederation of British Industry Paul Dreschler said that business was “no wiser” about Brexit than a year… Joshua Posaner  Politico The U.K. government has no “clear plan” for Brexit and needs a “serious fact-based discussion about what the future looks like” outside the EU, Paul Drechsler, president of the Confederation of British Industry lobby group, said… Speaking on Sky News’ Sophy Ridge on Sunday show, Drechsler said that… UK business group… Read More »

The European Union Has a Currency Problem

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Germany is largely to blame for it. Milton Ezrati The National Interest Donald Trump, for all his rhetorical clumsiness and intellectual limitations, still sometimes makes a valid point. He does when he says that Germany is “very bad on trade.” However much Berlin claims innocence and good intentions, the fact remains that the euro heavily stacks the deck in favor of German exporters and against others, in Europe and further… It is surely no coincidence that the country’s… The European ... Read More »

Fishermen Suspect Tory Brexit Pledge Masks Betrayal on £6.3bn Fishing Zone

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The Government has committed to scrapping the Fisheries Convention of 1964, allowing Britain to take back control of its territorial waters from the EU out to twelve… Jack Montgomery Breitbart But a Fishing for Leave spokesman told Breitbart London fishermen are concerned that failure to commit to reclaiming the country’s full, 200-mile Exclusive Economic Zone (EEZ) signals an… Designed to pave the way for Britain’s absorption into the European Economic Community, as the… Fishermen Suspect Tory… Read More »

What Happened to America’s Wealth? The Rich Hid It

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If you find yourself traveling this summer, take a closer look at America’s deteriorating infrastructure — our crumbling roads, sidewalks, public parks, and train and… Chuck Collins CounterPunch Government officials will tell us “there’s no money” to repair or properly maintain our tired infrastructure. Nor do we want to raise taxes, they say. But what if billions of dollars in tax revenue have gone… What Happened to… Read More »

Puerto Rico following Greek footsteps to economic woe

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It is said that those who cannot learn from history are doomed to repeat it. Desmond Lachman, opinion contributor The Hill Sadly, this seems to be the case with respect to the Puerto Rican government and its Financial Oversight and Management Board in their handling of the Puerto Rican economic… By not drawing the right lessons from Greece’s recent failed attempt at fiscal austerity in a Euro straitjacket, the Puerto Rican government is all too likely to exacerbate rather than ... Read More »

Home ownership remains strong in Australia but it masks other problems: Census data

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The great Australia dream of owning your own home is still alive despite the various problems plaguing housing affordability, new Census data shows. Wendy Stone Kath Hulse Margaret Reynolds Terry Burke The Conversation Even though the overall home ownership trend remains strong, it’s masking other issues. The latest 2016 Census data assesses what the national home ownership and rental rates are and how these vary location. It also gives us a picture of mortgage and… Home ownership remains… Read More »

World food security risks growing, Chatham House says

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The world’s food security is increasingly reliant on 14 “chokepoints” for trade, a think-tank report has warned. BBC UK-based Chatham House says more needs to be done to protect key transport routes such as the Panama Canal, the Suez Canal and the Turkish… Almost 25% of the world’s food is traded on international markets. This, the report says, makes food supply and prices vulnerable to unforeseen crises or climate… World food security… Read More »

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?

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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 »