Economy

How India will consume in 2030: 10 mega trends

Over the next decade, consumption in fast-growth consumer markets such as China, India and Southeast Asia will be reshaped by the Fourth Industrial Revolution and more than one billion first-time consumers. Authors: WEF The Future of Consumption in Fast-Growth Consumer Markets, a project in collaboration with Bain & Company, focuses on the emerging markets that comprise more than 40% of the world’s population. After studying China in 2017, for 2018 it… India is one of the fastest-growing economies in the world. By 2030, ... Read More »

Even Dutch planning can’t avoid the chaos of a no-deal Brexit

Rotterdam: The Hook of Holland, a stretch of land outside Rotterdam sliced by canals, functions in many ways like Britain’s backyard. Michael Birnbaum WAtoday The Washington Post Greenhouses stretch for miles, nurturing tulips, tomatoes and other supermarket specialties. The bounty is gathered into warehouses and sorted under signs denoting destinations such as Sheffield and Gateshead. Then trucks whisk it all onto ferries headed across the North Sea. Thanks to this precisely calibrated ecosystem and the European Union’s borderless trading zone, ... Read More »

Venezuela Supreme Court judge Christian Zerpa flees to US

Venezuela Supreme Court judge Christian Zerpa has fled to the US to protest over President Nicolás Maduro’s second term in office. BBC Last year’s election “was not free and competitive”, the former Maduro loyalist told a Florida radio station. And he accused President Maduro of systematically manipulating the affairs of the Supreme Court. In response, the court said Mr Zerpa was fleeing allegations of sexual harassment. Opposition parties boycotted the 2018 vote, calling it a sham. Mr Zerpa had been ... Read More »

Goldman Sachs Asks What If Lebanon Is Forced to Restructure Debt

Goldman Sachs Group Inc. still sees an imminent debt restructuring in Lebanon as unlikely but is already turning its attention to how much investors could recover as one of the world’s most indebted countries teeters on the brink of financial crisis. Paul Abelsky Bloomberg Under Goldman’s base scenario, foreign investors would recover 35 cents on the dollar, Farouk Soussa, an economist at Goldman Sachs, said in a report. But he said any debt overhaul would put the country’s banks first, meaning “the ... Read More »

China could occupy more areas in WPS — expert warns

MANILA, Philippines — China may end up occupying more areas in the West Philippine Sea if it would be allowed to unilaterally rehabilitate coral reefs in the disputed region, a maritime expert warned. Janvic Mateo (The Philippine Star) Jay Batongbacal, director of the UP Institute for Maritime Affairs and Law of the Sea, said China’s announcement that it would carry out coral reef rehabilitation and restoration in the South China Sea should be taken with a… “Interested states should take ... Read More »

Japan finds a huge cache of scarce rare-earth minerals

Japan looks to replace China as the primary source of critical metals Rare earth elements are a set of 17 metals that are integral to our modern lifestyle and efforts to produce ever-greener technologies. Robby Berman Big Think The “rare” designation is a bit of a misnomer: It’s not that they’re not plentiful, but rather that they’re found in small concentrations, and are especially difficult to successfully extract since they blend in with and resemble other minerals in the ground. ... Read More »

The euro at 20: An enduring success but a fundamental failure

New Year’s Day 1999 saw the largest monetary changeover in history. Barry Eichengreen The Conversation On that date, just 20 years ago, 12 members of the European Union formally adopted a brand-spanking-new currency, the euro. Today seven additional EU member states use it, along with Montenegro, Kosovo, Andorra, Monaco, San Marino and Vatican City. If survival is the ultimate gauge of success, then this grand monetary experiment can be said to have succeeded. But as investment advisers say, past performance ... Read More »

Government’s post-Brexit agriculture scheme falls short of protection needed to safeguard environment, farmers warn

Call for tougher policies comes after Michael Gove addressed two major farming conferences in Oxford Josh Gabbatiss Independent The government’s vision for post-Brexit farming does not provide enough protection for the environment, meaning food production is at risk, according to a farming group.Michael Gove’s agriculture bill is a cornerstone of his plan for a “green Brexit”, but campaigners say it has fallen short of providing long-term protection for UK nature. The environment secretary addressed two farming conferences in Oxford on Thursday, one focusing on traditional agriculture and the other based around ... Read More »

Seven minutes of chaos: The ‘flash-crash’ that rocked currency markets

It took seven minutes for the yen to surge through levels that have held through almost a decade. WAtoday Bloomberg Traders are still seeking to piece together what happened just before 9:30 a.m. in Sydney, when orders came to sell Australia’s dollar and Turkey’s lira against the yen. While some pointed to risk aversion triggered by Apple cutting its sales outlook, others said Japanese retail investors were behind the trades. Whatever the cause, the moves were exacerbated by algorithmic programs ... Read More »

China’s Atlantean ambition for the South China Sea

Beijing’s futuristic plan for an artificial intelligence-driven deep-sea submarine base promises to churn the contested sea’s already volatile waters Richard Javad Heydarian Asia Times Αs Southeast Asian nations look ahead to 2019, competition for control of the South China Sea looms large on the horizon. That strategic contest could enter a new destabilizing phase if China introduces as reported a new Atlantis-like deep-sea submarine base in the already volatile maritime area. The proposed new base, which could in theory be ... Read More »

How to negotiate infrastructure deals with China: four things African governments need to get right

“You don’t negotiate with China !” I was quickly told when I started interviewing African public servants about their infrastructure deals with Beijing. Folashade Soule The Conversation There is a widespread view in Africa that you accept whatever terms are offered, for fear that the money might go somewhere else instead. China is the leading infrastructure finance provider on the continent – as demonstrated by a recent pledge of US$60 billion (£47 billion), most of which is for infrastructure projects. Big projects on the slate include hydropower plants ... Read More »

Ending austerity: give everyone a pay rise

In 2018 real earnings were 4% below what they were in 2008 in the UK. The decade since the global financial crisis was a lost decade for British workers; their living standards have stagnated. Engelbert Stockhammer The Conversation Wages have not even kept up with inflation. This is in sharp contrast to numerous decades before 2008. For example, from 1998 to 2008 wages, adjusted for inflation, grew by 25%. For most households, wages are the most important source of income, ... Read More »

Wall Street finishes worst year since 2008 with gains

Wall Street advanced in low-volume trading on Monday as revelers gathered to ring in 2019, marking the end of the worst year for US stocks since 2008, the height of the financial crisis. WAtoday Reuters Wall Street entered correction territory in late January and was challenged for much of 2018 by tariff jitters, rising interest rates, and fears of diminishing corporate profits. “Investors got complacent,” said Thomas Martin, senior portfolio manager at Globalt Investments in Atlanta. “People were positioned for ... Read More »

Energy price cap could leave customers £200 a year out of pocket

Householders could be left more than £200 a year out of pocket as the energy regulator has admitted a cap on bills which comes into force today could reduce the number of customers shopping around for a… Sam Meadows Telegraph The cap, which applies to the default energy tariffs paid by consumers after any fixed-rate period comes to an end, prevents suppliers charging the average household more than £1,137 a… Ofgem said the cap will help the 11 million households ... Read More »

Govt extends loan subsidy for first-time homebuyers

NEW DELHI: The government on Monday extended the interest subsidy scheme till March 2020 for first time urban homebuyers who have annual annual income between Rs 6 lakh and Rs 18 lakh. The Times of India TNN This will enable new home buyers to avail up front financial assistance of about Rs 2.5 lakh from the central government, which they can use for down payment while booking, construction or re-purchasing the flat. Announcing this Union housing minister Hardeep Singh Puri said, “The growth and performance of credit linked ... Read More »

Energy price cap could mean people missing cheapest deals, warns consumer champion

Which? said the cheapest tariffs had vanished from the market as suppliers prepared for the cap’s implementation Joe Watts Independent Theresa May’s energy price cap which comes into force on Tuesday could mean people missing out on the cheapest electricity and gas prices, the UK’s foremost consumer group has warned. Which? said some of the cheapest tariffs available had been vanishing from the market as suppliers adjusted their operations in the run-up to the cap’s implementation. The prime minister argued the cap would cut bills for millions ... Read More »