Economy

EEZ of Doing Watery Business

Nec 5e

With ties that go back centuries, the relations between Indonesia and India remain steadfast today. By Sidharto Suryodipuro (The writer is ambassador of Indonesia to India) The Economic Times Both President Joko Widodo and Prime Minister Narendra Modi have met in various fora. During the visit of Modi to Indonesia last May, the two governments agreed to enhance cooperation in defence, space, railways, science, medicine and health. One aspect of cooperation that tends to be forgotten, however, is maritime boundary delimitation (MBD). ... Read More »

MAPPED: Where can the British and French fish for scallops? Where are the boundaries?

Mean 3c

A SCALLOPS war has broken out over the English Channel, with British and French vessels clashing in angry exchanges over capture of the valuable shellfish. Where can they fish for scallops and what are the boundaries? Paul Withers Express This map from the Government shows the territorial sea limits of the UK, Isle of Man and the Channel Islands. In particular in the latest outbreak with fishermen from across the channel, it illustrates a clear red line there the UK-France ... Read More »

Greece and the Balkans: opportunities across borders

519660121

Greece’s recent exit from its economic adjustment programme last week has generated some long overdue welcome headlines for the country. Peter Sanfey EBRD But how can the country generate sustainable growth in the coming years? And what would a lasting Greek recovery mean for its neighbours throughout the Balkan region? One way to promote growth in Greece is to foster trade and investment linkages and develop interconnections with neighbouring countries, a fact recognised by the Greek government in their recently ... Read More »

The longevity dividend: how ageing populations could boost economic productivity

Parts 1a

People are generally living longer than previous generations across most parts of the world. Matt Flynn The Conversation Rising life expectancy is a result of advances in medicine as well as improving living standards and healthier lifestyles. But while this should be celebrated for social reasons, is it beneficial in economic terms? Does the increase in the older population create an economic burden on society or can older people be mobilised to enhance the productivity of communities in which they ... Read More »

Greece returns to the Balkans

Tera 2b

TIRANA, Aug. 28 – Greece’s Alternate Foreign Minister Georgios Katrougalos represented Greece at the informal summit of the Prime Ministers of the Western Balkan Countries (WB6) in Durres on Monday. Tirana Times The main topic of the meeting was to promote regional economic integration. In his speech, Katrougalos referred to the unwavering Greek stance in favor of the European perspective of the Balkan countries, highlighting recent initiatives to support political stability and economic co-operation in the region. A significant example ... Read More »

Turkish currency isn’t the real problem for Erdoğan, it’s democracy

Krema 2b

Turkish President Recep Tayyip Erdoğan is presiding over the damaging loss of value of the Turkish currency, the lira, against foreign currencies. Gary M. Grossman The Conversation It’s the most severe economic crisis the country has faced since he assumed power. Erdoğan has been the dominant figure in Turkish politics for almost two decades. Can he and his party maintain political control through this moment? As an American scholar, I began my engagement in Turkey in 1990, working with various ... Read More »

Taiwanese fishing boat investigated after being caught in NZ waters

Stuf 1a

The Navy was involved in drama on the high seas, after sailors and fisheries officials boarded a Taiwanese-flagged vessel in New Zealand waters. Andrea Vance stuff The Yi Rong No.6 was spotted close to the Kermadec Islands, in New Zealand’s exclusive economic zone, earlier this month. A crew from the offshore patrol vessel HMNZS Otago went aboard the Taiwanese boat on August 9 and spent two hours inspecting it. The ship wasn’t illegally fishing in New Zealand waters – but fisheries officers did ... Read More »

Sri Lanka joins Indian Ocean strategy talks at Vietnam forum

Deve 2b

ECONOMYNEXT – Sri Lanka’s Prime Minister Ranil Wickremesinghe is participating in conference to develop regional co-operation in the Indian Ocean held in Vietnam, a country that has suffered from China’s controversial restrictions on resources, free navigation and… The third Indian Ocean Conference is being held in Ha Noi to develop regional architectures to co-operate in security, trade commercial administration in the context of the strategic and economic importance of the… The Indian Ocean Conference was founded three years ago with ... Read More »

Greece was never bailed out – it remains locked in an EU debtor’s prison

Xex 3c

Punitive conditions attached to the ‘rescue’ package mean the Greek financial tragedy may never end Yanis Varoufakis The Guardian Over the past week, the world’s media have been proclaiming the successful completion of the Greek financial rescue programme mounted in 2010 by the European Union and the International Monetary Fund. Headlines celebrated the end of Greece’s bailout, even the termination of austerity. Buoyant reports from ground zero of the eurozone crisis portrayed Europe’s eight-year long Greek intervention as a paradigm ... Read More »

North Korean fishing in Japan’s economic zone drops 77%

Jun 4d

Early patrol by coast guard ahead of squid season pays off MIO SADAKATA, Nikkei staff writer Asian Review TOKYO — North Korean boats fishing illegally in a vital part of Japan’s exclusive economic zone appear to have decreased almost 80% on the year in July, after the Japan Coast Guard began issuing earlier warnings ahead of prime squid season. The Yamatotai area of the Sea of Japan, about 300 km northwest of the Noto Peninsula in Ishikawa Prefecture, offers ideal ... Read More »

Seafood diplomacy? Erdogan invites ‘dearest friend’ Putin to meet at fish restaurant

Boz 1a

Russia’s Vladimir Putin and Turkey’s Recep Tayyip Erdogan may soon be discussing the S-400 anti-air systems deal while eating fish or lobsters, as Putin has been reminded of an arrangement to meet at a… * RT An invitation from Erdogan, delivered to Putin by Turkish Foreign Minister Mevlut Çavusoglu on Friday, said: “Your dearest friend, Mr. Erdogan, has asked to convene his greetings and best wishes, he is hoping for your visit to Istanbul in the near future. You have ... Read More »

‘Tokatu’ makes first visit

Toka 2b

The country’s largest deepwater fishing vessel, Tokatu, made its maiden call to Dunedin yesterday, and will be a semi-regular visitor to the city’s upper harbour. Simon Hartley Otago Daily Times Sealord took possession of the $70 million, 81.7m-long Norwegian-built vessel in mid-June, after a six-week delivery via the Panama Canal to its home port, Nelson. Sealord fleet manager Bill Healey said the ship was still in its commissioning stages and working towards full capacity, which was to catch, process and ... Read More »

Greek Casino Project Considers Pitches From U.S. Companies

panor 3c

Greece is undergoing a potentially country-defining construction project. America’s largest gambling operators want to be a part of it. Ryan Batler gambling Four leading U.S. companies are among a group of five meeting with Greek officials in the coming weeks to discuss the lone license to open a mammoth new casino in the country, according to a report from Ekathimerini, an international edition of the… These companies will discuss investment terms and demands from the Hellenic Gaming Commission, which is ... Read More »

Greece’s “Bailout” Was a Disaster for Greece

Buro 1a

Some bailout that turned out to be. The European Stability Mechanism disbursed its final tranche of loans to the Greek government on Aug. 6. On Aug. 20, the program officially ended, although the loans are not expected to be fully repaid for another half-century. Matthew C. Klein Barron’s If their purpose was to support the Greek economy, the emergency loans must be considered a failure. Since 2008, the economy has shrunk by a quarter, and more than 400,000 Greeks have ... Read More »

The Turkish Currency Crisis And What It Can Teach Us

Panor 4d

Turkey’s currency turmoil follows a well-known scenario. It is one more case in the long series of financial crises that afflict the international monetary system. Antony Mueller Seeking Alpha Just over the past two-and-half-decades, international markets experienced the crisis of the British pound (1992), the Mexican and Argentinean currency crises (1994), the East Asia currency turmoil (1997), and the collapse of the… In 2007, the liquidity-driven housing boom in the United States began to falter and Lehman Brothers filed for ... Read More »

Germany Declares Independence From America

This 6f

Also, Germany is once again the world-champion exporter. Richard Palmer theTrumpet German’s foreign minister declared independence from the United States this week. Europe, he said, should form a “counterweight” to the U.S., opposing America whenever it “crosses red lines.” Writing in Germany’s Handlesblatt newspaper, he warned that Germany couldn’t be this counterweight alone. “The main goal of our foreign policy is therefore to build a sovereign, strong Europe,” he wrote. He called for European independence in practical ways; he wants ... Read More »