From the U.S. to Saudi Arabia, ending fossil fuel related subsidies could help cut government deficits, reduce climate change and improve social equality.
End energy subsidies, IMF says
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Monthly Archives: March 2013
The distorted incentive of idle profits
Why are U.S. stock indices breaking records when the U.S. economy is so sluggish? U.S. corporate profits as a share of GDP are at their second highest level. ‘Nuff said.
U.S. oil imports’ Canada dependency in one chart
Source: U.S. Energy Information Agency. Credit: Blouin News Statistics
The U.S.’s imports of crude oil and petroleum products have been on the decline since hitting a peak of 14.7 million barrels a day in August 2006. In December last year, they fell below 10 million barrels a day for the first time since March 1997.
Hyundai hitches onto Hermes for brand horsepower
Photo Credit: AFP/Getty Images/Karen Bleier
If not Prada, then perhaps Hermes. Hyundai Motor has commissioned interiors from the LVMH-owned French fashion house for three of its top-of-the-line Equus sedans that will be on show at the Seoul motor show this week.
Cyprus breaks new ground with capital controls
There is already talk that a ‘Cyprus euro’ may acquire a different value to every other euro, not what is supposed to happen to a single currency.
Europe’s young and jobless
The critical unemployment issue in the European Union deepens causing the deterioration of the social situation, the real problem in Europe.
Creditworthiness of rich governments crumbles
The pool of government debt from the rich nations has shrunk 60% since the global financial crisis triggered a wave of sovereign credit downgrades, denuding the nine-As club.
Europe chokes moral hazard
Jeroen Dijsselbloem (L) and Jean-Claude Juncker. Photo Credit: AFP/Getty Images/Georges Gobet
Moral hazard may not be quite dead in Europe but it has a bad, hacking cough.
BRICS meet in Durban, time for concrete projects
Brazil, Russia, India, China and South Africa have evolved from an acronym to an alliance, but as the leaders meet for their fifth annual summit in Durban they need to find some tangible expression of their growing economic power.
Cyprus’s banks: A quick guide
A short primer on the island’s two main banks, Bank of Cyprus and Popular Cyprus Bank (Laiki).
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