Business

Turkey awards multibillion-dollar contract for indigenous Altay tank

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

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

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.

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

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 »

Royal Commission reveals need for tougher corporate cop

Imagine this … An elderly couple returns home from holiday to discover their front door lock broken and $2000 in cash stolen from a biscuit tin in their kitchen. Jessica Irvine Brisbane Times The couple immediately ring the police, who inform them of a spate of similar robberies in the area. But the police have tracked down the perpetrator, who is in custody facing charges that carry a jail term of at least five years. The elderly couple are promptly ... Read More »

Mexico’s EU trade deal lands a punch on Trump

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 »

Activists file charges against Tihange, Doel nuclear power plants

An activist alliance has pressed charges against the Belgian state and the nuclear plants Tihange and Doel. Timothy Jones (with dpa) DW The move comes amid growing fears of a serious nuclear accident among nearby residents in three countries. Anti-nuclear initiatives from Belgium, Germany and the Netherlands on Saturday filed charges against the Belgian government and the operators of the Belgian nuclear plants Doel and Tihange, saying that aging reactors at the… Hundreds of people turned out in the Belgian ... Read More »

Dealing in China’s South Sea

Depends on who you ask, there are signs that the friction in the oil rich South China Sea may be abating. Easwaran Kanason Tensions seem to be easing in the short term, with nothing resolved to the long-term problem of border demarcation. Two countries in particular have been China’s main thorn in their quest to claim the entire sweep of the South China Sea – Vietnam and the Philippines – and in its dealings with both of them, China is ... Read More »

What’s behind the big commodities rally, and why it could be just getting started

After years of languishing under low market volatility and weak global growth, commodities are on the move higher. One index is at a multi-year peak as prices rise in energy, gold and base metals. Traders in the space see the rally continuing in the face of a trade war threat and as the market gets more comfortable with the global economic growth theme. Threats of a trade war and continued signs of global growth are combining to create myriad opportunities ... Read More »

Bill Jamieson: Here’s how the world is leaving Scotland behind

Economic optimism about the global economy doesn’t extend to Scotland, writes Bill Jamieson. The Scotsman Few forecasts should have more cheered Scottish Government ministers in their efforts to boost Scotland’s trade and profile overseas than the upbeat International Monetary Fund (IMF) forecast for the world economy this week. It predicts that 2018 will be the strongest year for global growth since 2011, hitting 3.8 per cent. That’s an encouraging backdrop for Scotland’s exporters. And the IMF has even made a… ... Read More »

Will a Robot Take My Job?

A restructuring of the global economy fueled by changes in technological capabilities is underway. These changes will result in a complementary restructuring of entire sectors of the global economy. Daniel M. Gerstein The National Interest A REVOLUTION is occurring at the intersection of technology and labor. Change will be uneven across sectors and across the globe. But it will come. Technological advances in artificial intelligence (AI), autonomy and robotics will fuel these changes, aided by the synergistic effects of the ... Read More »

Iran to replace US dollar with euro in financial reports

Amid currency crisis, switch is aimed at circumvent restrictions on accessing US dollar and prevent market instability. Saeed Jalili AlJazeera Tehran, Iran – The government of Iran has announced plans to replace the US dollar with the euro in official financial reporting, according to state-run media. The move on Wednesday is seen as part of efforts to circumvent restrictions on accessing the US currency amid tensions with Washington, as well as prevent market instability generated due to fluctuations in the value of Iranian rial against the dollar. ... Read More »

Which business structure is best to protect against being sued?

When it comes to choosing the right structure to own and operate a business there are many things other than income tax to consider. Max Newnham Brisbane Times The fact is the simpler and less complicated a structure is, the less tax efficient and protective it is. When a structure is more complicated, it will inevitably be more tax efficient and offer the owners greater protection. Examples of this are operating as a sole trader, which is the simplest business ... Read More »

The truth hurts: why whistleblowers get such a hard time

The truth hurts. And when you blow the whistle, people get upset. Ruth Williams The Sydney Morning Herald So says Martin Woods, an anti-money laundering expert and whistleblower, who says governments, companies and wider society need to rethink their attitudes towards whistleblowers in all sectors of the economy, from compliance staff in banks to nurses working in aged… This includes compensating them for speaking up – and paying rewards for valuable information. “It’s human conditioning – the human race doesn’t ... Read More »

Why the EU must support the African Continental Free Trade Area

The signing of the African Continental Free Trade Area agreement (AfCFTA) by 44 African countries at a summit of the African Union (AU) in Kigali, Rwanda last month marked an historic moment. Emmanuel Dupuy EUtoday The AfCFTA has the potential to bring over 1.2bn people together into the same market, worth trillions of dollars in GDP. The bloc would be the largest in the world by member states, eclipsing the European Single Market, writes Emmanuel Dupuy, President of the Institute for Prospective ... Read More »