Some bad news for Japan, as exports stay in the red for seventh consecutive month May 23, 2016 Japan's exports were still in the red in after Ministry of Finance data released today revealed a drop of 10.1 per cent year on year in April – despite stronger growth figures. This is the seventh straight month of declines, after a strong yen and weakness in China took their toll. Exports to China, which remains Japan's [...]
Barack Obama must nail down his free trade deals before the protectionist takeover May 23, 2016 Washington – A few years ago, in a predictably thorough fashion, the Chinese government commissioned a study of the documented historical cases where rising powers had challenged dominant powers for leadership of the international system. The currently-rising Chinese (who went all the way back in time to mine valuable lessons from Thucydides about Athens and [...]
Close call: Postal votes to make or break far right’s success in Austria election May 22, 2016 Initial counts for Austria's presidential election indicated a dead heat earlier today, meaning postal votes are likely to play a key role in determining whether the far-right Freedom Party will take power. The forecast from the SORA institute on behalf of broadcaster ORF, which is based on votes cast in polling stations alongside an estimate of postal votes, indicated that the [...]
Canada’s oil heartland has some evacuation orders lifted May 21, 2016 Evacuation orders have been lifted on two oil sites in Canada's wildfire-ravaged energy heartland, as a spell of cold weather and rain helped to tame the flames. Authorities in the oil town of Fort McMurray in Alberta lifted the lifted the mandatory evacuation orders on Suncor Energy's base plant and Syncrude's Mildred Lake facility, as well as nearby camps [...]
EgyptAir flight MS804 black box has been located, reports suggest May 21, 2016 Update: EgyptAir MS804 latest – forensic official says crash was caused by "explosion" Reports suggest that the black box which will likely reveal what caused the missing EgyptAir flight MS804 to crash has been found. An Egyptian government source told CBS news search crews have located the plane's data recorders, commonly known as the black box. Separate reports [...]
Russia isn’t expecting much from Opec’s next meeting May 20, 2016 Russian energy minister, Alexander Novak, isn't expecting much from the fractured Organisation of Petroleum Exporting Countries' when it meets early next month. "In my opinion, any decisions on coordination which would require an obligatory fulfilment, are unlikely to be taken," Novak told Russian state TV in an interview. Read more: Opec faced with waning influence [...]
Venezuela’s inevitable and miserable descent May 20, 2016 The lines start to form outside state-run supermarkets at dawn. As the sun rises, hundreds wait patiently in the hope that corn will be delivered in the afternoon. They are often disappointed. This is the reality of daily life for many in Venezuela, a country with the world’s largest reserves of oil and its highest [...]
Online streaming sites like Netflix and Amazon Prime face a European programming quota under new EU rules May 19, 2016 New rules governing the content provided by online video streaming services such as Netflix and Amazon Prime are set to be announced by the European Commission next week. Streaming firms will be required to devote at least 20 per cent of their offering to European content, as the Commission tries to increase funding for Europe's [...]
Germany’s biggest lender Deutsche Bank could be next in line for shareholder revolt over pay May 19, 2016 Shareholders at Germany's Deutsche Bank have signalled their distaste for the company's pay plan, with a vote against remuneration proposals at the group's annual meeting in Frankfurt. The bank's pay plan was voted down by 51.9 per cent of its investors, with 48.1 per cent voting in favour. Deutsche has weathered several storms during the [...]
Chinese steelmakers hit out at US tariff hike May 19, 2016 Chinese steelmakers hit out at the US' decision to slap imports of their products with a five-fold tax hike, marking an increase in the ongoing trade war. Asked if China will appeal the US anti-dumping duties at the World Trade Organisation, Liu Zhenjiang, secretary general of the China Iron and Steel Association told Reuters: "There's too much trade [...]