Economy

Argentina, Turkey, Indonesia – why it’s too early to speak of contagion in emerging markets

Turkey, Indonesia and Argentina have all seen their currencies experience huge drops in recent months. Similarly, stocks in India, South Africa, Mexico and others have taken a hit. Alain Naef The Conversation Emerging markets across the board have been under pressure since the US Federal Reserve raised interest rates in June. Governments and companies had borrowed in dollars when interest rates were low and the dollar was weak. Now the dollar is strong and interest rates are rising. And research ... Read More »

Climate change conflicts are here – and ‘scallop wars’ are just the beginning

As the planet warms, species are moving further north to climate zones which are closer in temperature to what they originally evolved in. The oceans have absorbed most of this temperature increase, and… Heather Alberro The Conversation In the face of this disruption, legal boundaries for fishing fleets could become increasingly irrelevant. As the fish stocks they once contained move out, conflict is likely to arise between countries exploiting… As a result, the ongoing “scallop war”, which has seen tense ... Read More »

The Real Cost of the 2008 Financial Crisis

The aftermath produced a lost decade for European economies and helped lead to the rise of anti-establishment political movements here and abroad. John Cassidy The New Yorker Audio: Listen to this article. To hear more, download the Audm iPhone app. September 15th marks the tenth anniversary of the demise of the investment bank Lehman Brothers, which presaged the biggest financial crisis and deepest economic recession since the nineteen-thirties. After Lehman filed for bankruptcy, and great swaths of the markets froze, ... Read More »

303,000 crimes in three years: Insurer scrambles at royal commission

A life insurance company has admitted to 303,000 criminal breaches of the law through its use of a pushy cold call sales force that intentionally upset potential customers in the hope they would make “grudge purchases” of its products. Sarah Danckert Brisbane Times The admissions by ASX-listed life insurance group Clearview came as the banking royal commission turned its gaze to the life insurance sector. The royal commission heard on Monday that Clearview – a company born out of NRMA’s life ... Read More »

Quinquepartite meeting of Energy Ministers: “The Balkans are the next energy hub”

Initiative to showcase the Balkans as an energy hub for the wider region are expected to be taken in the near future with the aim of, creating a single energy market in SE Europe, among other things. Nefeli Tzanetakou ibna The quinquepartite meeting held on the sidelines of the Southeast Europe Energy Forum, organized by the Hellenic-American Chamber of Commerce in the framework of the 83rd… All sides share common objectives, including the need for further interconnection of infrastructure and ... Read More »

When the Beach Is Out of Reach—Coastal Access Becomes a Growing Concern

As Americans crowd toward the coasts, states and municipalities are caught in passionate battles about public access, while lawsuits seem headed for the U.S. Supreme Court. Timothy B. Clark Route Fifty NORTHEAST HARBOR — Maine, it is said, has more coastline than any other state. Measured along the twists and turns of countless coves and inlets, the coast stretches 3,478 miles, a few more than California’s—and over 5,000 miles if one counts the shorelines of… But Maine does not grant the ... Read More »

Mining Council warns mining’s impact ‘invisible and just assumed’

The mining industry needs to do more to address perceptions it doesn’t do enough to manage its environmental impact, share the prosperity it creates with the wider community or look after its staff, according to the chairperson of the… Darren Gray The Canberra Times In a speech to be delivered on Monday in Perth, Dr Guthrie will say that while Australian mining “has a strong track record in mine rehabilitation and investing in regional communities,” it needs to do more ... Read More »

UN Begins Talks on World’s First Treaty to Regulate High Seas

UNITED NATIONS, Sep 7 2018 (IPS) – After several years of preliminary discussions, the United Nations has begun its first round of inter-governmental negotiations to draft the world’s first legally binding treaty to protect and regulate the “high seas”—which, by definition, extend beyond 200 nautical miles (370… Thalif Deen “The high seas cover half our planet and are vital to the functioning of the whole ocean and all life on Earth. The current high seas governance system is weak, fragmented ... Read More »

Freedom of Navigation and the Environment

The US has long maintained that freedom of navigation (FON) for warships in foreign 200-nautical-mile Exclusive Economic Zones (EEZs) is essentially “absolute.” Mark J. Valencia IPP Review China and some other countries disagree and have placed some restrictions on the activities of foreign warships and aircraft in their EEZs. But the US is undermining its own position by placing restrictions on its own military’s activities, and by extension those of foreign militaries, in its own EEZ. Military activities in EEZs ... Read More »

Under pressure govt backtracks on Atif Mian appointment; removes economist from advisory council

The Pakistan Tehreek-i-Insaf (PTI) government has asked Princeton University economist Atif R. Mian to step down from the Prime Minister Imran Khan-led Economic Advisory Council (EAC), PTI Senator Faisal Javed Khan announced on Friday. Fahad Chaudhry Dawn The decision follows mounting pressure from religiopolitical partiesagainst the appointment of Dr Mian, who is an Ahmadi. According to a tweet by Senator Javed, Mian has agreed to give up his position on the council. A replacement will be announced later, he… Minister of ... Read More »

Iran and Turkey Divert Iraq’s River Waters, Leaving Iraq on the Brink of Catastrophe

Global attention has been focused on the strained Ethiopian-Egyptian relations due to the construction of the Renaissance Dam by Ethiopia on the Blue Nile, whose reservoir – once filled – will probably lower the… Col. (ret) Dr. Jacques Neriah Institute for Contemporary Affairs But little attention has been given to the brewing conflict over the Tigris (Dajla in Arabic) and Euphrates (Furat in Arabic) waters, both iconic rivers on which Iraq’s existence in both ancient and… Deadly riots in Iraq’s ... Read More »

A new and more efficient payments system will be a magnet for fraud. Here’s how to prepare

Most credit card fraud takes place online or over the phone. It’s not the cards that are stolen, but the details. The Conversation, By Steve Worthington ABC The Australian Payments Network finds they are used to amass 85 per cent of the money stolen using Australian credit cards, without the need to steal the cards themselves. Usually, we are not liable for the money lost. It is reimbursed through our card provider if we have quickly reported the breach and ... Read More »

Working long and hard? It may do more harm than good

Nearly half of people in the EU work in their free time to meet work demands, and a third often or always work at high speed, according to recent estimates. Authors: The Conversation If you are one of them, have you ever wondered whether all the effort is really worth it? Employees who invest more effort in their work report higher levels of stress and fatigue, along with lower job satisfaction. But they also report receiving less recognition and fewer ... Read More »

Construction Of TurkStream’s 2nd Leg In Russia’s Exclusive Economic Zone Over – Gazprom

Russian energy giant Gazprom has completed the construction of the second leg of the TurkStream gas pipeline in Russia’s exclusive economic zone, the company said in a statement Wednesday. Rukhshan Mir MOSCOW (UrduPoint News / Sputnik – 05th September, 2018) Russian energy giant Gazprom has completed the construction of the second leg of the TurkStream gas pipeline in Russia‘s exclusive economic zone, the… “Gazprom’s Management Committee considered the current status of the TurkStream project. It noted that the… Construction Of ... Read More »

How solar kits and battery lamps are replacing kerosene across Africa

For decades, people in rural Africa have been using sooty kerosene lamps to dimly light their homes. Jörg Peters The Conversation But in recent years households, even in poor areas, have started to replace their kerosene lamps with non-rechargeable dry-cell battery driven lamps and solar kits. This is happening largely without any governmental or donor involvement. These devices are equipped with light-emitting diodes (LED) that have become significantly cheaper over the years. This has, in turn, made them a highly ... Read More »

Coast Guard interdicts lancha crew illegally fishing in U.S. waters

Coast Guard crews from Corpus Christi interdicted a Mexican lancha crew illegally fishing in waters off the Texas coast on Sunday. KRIS Communications According to the Coast Guard, four fishermen onboard the boat were detained and turned over to Border Patrol for processing. Coast Guard also seized 113 red snapper and two sharks from the vessel. A lancha is a fishing boat used by Mexican fishermen that is approximately 20 to 30 feet long, with a slender profile, typically has ... Read More »