Tag Archive | Economy

Beijing says ‘Taiwan is an inalienable part of China’s territory’

Beijing says ‘Taiwan is an inalienable part of China’s territory’

Panama has switched diplomatic relations from Taiwan to China, handing a huge victory to Beijing in its drive to isolate the self-governing island it claims as its own territory.

Advertisements
Swiss reject free income plan

Swiss reject free income plan

Swiss voters rejected by a wide margin on Sunday a proposal to introduce a guaranteed basic income for everyone living in the wealthy country after an uneasy debate about the future of work at a time of increasing automation. Supporters had said introducing a monthly income of 2,500 Swiss francs ($2,563) per adult and 625 […]

Cuba legalises small, medium private businesses

Cuba legalises small, medium private businesses

It is the latest stage of reforms begun when President Raul Castro took over from his brother, Fidel in 2008. Raul Castro has been trying to stimulate Cuba’s stagnant economy but has faced resistance from Cuban Communist Party hardliners. With the restoration of relations with the US last year, Cuba is also opening up to […]

Greece bailout: Eurozone deal unlocks €10.3bn

Greece bailout: Eurozone deal unlocks €10.3bn

Eurozone finance ministers also agreed on debt relief for Greece, extending the repayment period and capping interest rates. Greece needed this tranche of cash to meet debt repayments due in July. The Greek government owes its creditors more than €300bn – about 180% of its annual economic output (GDP). ‘Breakthrough’ The International Monetary Fund (IMF) […]

“Brexit” could spell more austerity for Britain

“Brexit” could spell more austerity for Britain

Prime Minister David Cameron’s campaign to keep Britain in the European Union was bolstered on Wednesday by a report from one of the country’s most authoritative economic research bodies, which concluded that a withdrawal from the bloc would lead to up to two more years of public spending cuts or tax increases. A frequent critic […]

Germany agrees in refugee integration package

Germany agrees in refugee integration package

German Chancellor Angela Merkel’s ruling coalition agreed Thursday on sweeping measures to spur the integration of migrants and refugees in a “historic” first for a country that long resisted embracing immigration. The deal, hammered out in seven hours of late-night talks between Merkel’s conservative Christian Union bloc and the Social Democrats (SPD), also included plans […]

Cuba loosens control on restaurant cooperatives

Cuba loosens control on restaurant cooperatives

Cuba announced on Tuesday that some cooperatives offering food and other services will be able to buy supplies directly from government producers and wholesale outlets for the first time, part of a wider but so far cautiously implemented market reform program. The new rules mean some former state-run companies turned into cooperatives on the Communist-led […]