economy Archives - Communal News

Global Space Economy and Russian Corruption

November 13, 2019November 12, 2019 Christina Kitova Leave a comment

Roskosmos and Russian space programs have been experiencing certain difficulties for some time. The Roscosmos State Corporation for Space Activities is a state corporation responsible for the wide range and types of space flights and cosmonautics programs for the Russian Federation. Russia is unfortunately known for corruption and theft.

Recently, construction of the new Vostochny Cosmodrome resulted in the theft of 11 billion roubles ($171.3 million). This was confirmed by Russian press secretary Dmitriy Peskov, a Russian diplomat, translator and Turkologist. Since 2012, Peskov has been the Press Secretary for the President of Russia, Vladimir Putin.

Narendra Modi Jets to Saudi Arabia to Talk Trade

October 28, 2019October 28, 2019 George Mtimba Leave a comment

Indian Prіmе Mіnіѕtеr Nаrеndrа Mоdі is gоіng tо Saudi Arabia оn a two-day tоur. He will rеасh Riyadh оn Oсtоbеr 28 and will mееt Sаudі Kіng Sаlmаn on October 29. The Prime Minister wіll also аddrеѕѕ thе Futurе Invеѕtmеnt Inіtіаtіvе Fоrum оrgаnіzеd bу the Sаudі Arаbіаn Gоvеrnmеnt Invеѕtmеnt Fund Agency, Sovereign Wеаlth Fund.

Venezuelan Economy Contracts, Inflation Accelerates

October 19, 2019October 19, 2019 Doris Mkwaya Leave a comment

The Central Bank of Venezuela revealed that inflation at the end of September was 52.2%. The Venezuelan economy contracted 26.8% in the first quarter of 2019, compared to the same period of 2018, it said on Friday. This was the first report of this index by the Central Bank (BCV) so far this year. The entity also reported that the accumulated inflation since last January reached 4,679.5%, after a variation of 52.2% in September.

Hydrogen Infrastructure Market Domination: China is the Elephant in the Room

October 16, 2019October 15, 2019 Christina Kitova Leave a comment

The US Department of Energy’s (DOE) Argonne National Laboratory and the University of Illinois Urbana-Champaign’s Grainger College of Engineering announced on October 14th their intend to form the Midwest Hydrogen and Fuel Cell Coalition to raise awareness of the potential for hydrogen and fuel cells to provide energy resilience and security, reduce emissions and foster economic growth.

Operation Bernhart – Is Cryptocurrency an Evolved Version for Intelligence Services?

Editor's Pick October 14, 2019October 13, 2019 Christina Kitova Leave a comment

In 1939, Operation Bernhard was a Nazi Germany project to forge British banknotes, counterfeit currencies. Originally, the project was dubbed “Andreas”. A the time the British pound was the reserve currency and was used as a main international payment method.

Nazi Germany needed forged currency to purchase raw materials for their defense industries. Counterfeiting currency was designed to solve German financial issues during World War II and also destabilize the economies of the nations they dubbed as enemies. Additionally, financing of espionage requires the use of foreign currencies. The challenge for the Nazis was to reproduce an identical paper for the banknotes and the watermark matrix. At the time, the task was given to professional counterfeiters, who were serving prison sentences. The process took close to 7 months.

Xi Holds “Free and Frank Discussion” With Modi

October 12, 2019October 12, 2019 George Mtimba Leave a comment

Indian Prime Minister Narendra Modi received Chinese President Xi Jinping in the scenic southern town of Chennai. The town has a historic old temple and is popular with tourists because it is suitable for surfing. In this seaside town, Xi and Modi held a few hours of one-on-one talks. Xi said on Saturday that he had a free and frank discussion with Modi.

Vietnam Facing Power Shortage— Looking for Alternatives

October 7, 2019October 7, 2019 Doris Mkwaya Leave a comment

Vietnamese Prime Minister Nguyen Xuan Phuc has warned of a possible power shortage in 2021 and asked other officials to speed up stalled power plant projects, according to the Financial Times. In late September, Vietnamese media reported on the risk of power shortage, while a series of power plant projects were behind schedule. Power shortages could be a barrier for foreign investors and challenge Vietnam’s position as one of the countries that will most benefit from the U.S.-China trade war, according to Reuters analysis.

FACT CHECK: Biden Claims that President Trump “Inherited a Pretty Good Economy from Barack Obama”

Editor's Pick October 5, 2019October 4, 2019 Kyle Reynolds Leave a comment

Joe Biden, whose campaign has been marked by repeated criticisms of the Trump administration, recently took a jab at the President’s handling of the economy. During a September town hall, Biden argued that Trump is becoming “more erratic” in dealing with the economy. The presidential hopeful claimed “the president is feeling pressure on the economy…He inherited a pretty good economy from Barack Obama, just like he inherited everything in his life.”

Thomas Cook Collapse is Just the Beginning – EU Airlines in Financial Trouble

September 25, 2019September 25, 2019 Christina Kitova Leave a comment

On September 23, 2019 Thomas Cook halted its operations. The company owned Thomas Cook Airlines and Thomas Cook Airlines Scandinavia. Thomas Cook was formed in 2007 by the merger of Thomas Cook AG and MyTravel Group. The group operated in two separate segments: a tour operator and an airline. Thomas Cook went into compulsory liquidation on September 23, 2019 and is now under the control of the Official Receiver. The company went into liquidation due to £1.7 billion debt. As a result, the UK Government is having to fly home over 150,000 customers from 18 countries. Brexit uncertainty contributed to the faster demise of Thomas Cook. The company was known for its all-inclusive travel model.

Is Yemen Turning into Saudi Arabia’s Vietnam?

September 19, 2019September 18, 2019 Christina Kitova 2 Comments

The Saudi monarchy experienced attacks against their oil production facilities in the last week. Tensions in the Middle East escalated following the drone attacks on the two largest oil facilities in Saudi Arabia. Yemen’s Houthi rebels claimed responsibility for the attacks.

The global economic impact will be felt, since Saudi Arabia lost more than half of their crude output via the attacks. The nation is the number one oil producer in the world, holds 5% of the global oil supply, and cut output by 5.7 million barrels per day. last year, Aramco’s net income was $111.1 billion.

Developments in the Trade War – Can China Compromise?

August 28, 2019August 28, 2019 Kyle Reynolds Leave a comment

Up to this point the Trump presidency has been marked with controversy, uncertainty, disapproval, and excitement. Of All of the president’s policies none embody these characteristics as well as his tariffing of Chinese imports, and the subsequent trade-war with China. This trade war has caused volatility in the stock market, increased costs to American manufacturers, and has threatened US imports into China. It has also has also helped to protect American industry and to give the US leverage against China to renegotiate trade agreements.

Brexit Cold Hard Facts – The Pros and Cons

Editor's Pick August 27, 2019August 26, 2019 Christina Kitova Leave a comment

Brexit is the withdrawal of the United Kingdom from the European Union, after the referendum held on 23 June 2016. The HBO documentary Brexit depicts the behind the scenes experience of the referendum. The UK is a constitutional monarchy with a parliamentary system of governance that is based off of the Westminster system. Executive power rests in the hands of Her Majesty’s Government, the prime minister and the cabinet who are all members of the Privy Council. Legislative power is held within the bicameral parliament, the House of Commons and the House of Lords, the former being elected and the later appointed.

Hong Kong Protests – Can Chinese Economy Survive?

August 13, 2019August 12, 2019 Christina Kitova 2 Comments

Hong Kong is presently experiencing a political crisis. Large scale use of law enforcement and military is being used to disperse the protesters. However, the system itself is failing and it will lead to additional protests. Historically, an achievement of the Freudo-Marxists was the quantum leap through the rationalistic outlook which had dominated in the Marxist tradition. Furthermore, the escalation of the crisis in Hong Kong is inevitable due to the bygone times and political reality of the Chinese territory.

50 Global Companies Are Moving Operations Out of China

Editor's Pick July 25, 2019August 11, 2019 Jay Black Leave a comment

If a manufacturing firm has a goal to sell products in both the US and China, locating the production in China gave them an unfair economic advantage. China imposes very heavy tariffs and regulations on almost all imported goods, making access to China’s market far more costly for the production of manufactured goods outside of the country.

Is China Pulling Down the World Economy?

December 18, 2018July 3, 2019 Jay Black Leave a comment

In China, weak economic data has been coming in thick and fast. The country’s statistics bureau announced that retail sales in November grew at their slowest pace in 15 years, with car sales on course for their first annual decline in nearly three decades. Industrial output was also weaker than anticipated, growing at its slowest pace in nearly three years.
China’s economy has slowed sharply in recent months, presenting the biggest challenge to its top leader, Xi Jinping, in his six years of rule. He faces difficult choices that could rekindle growth but add to the country’s long-term problems, like its heavy debt. On the world stage, he has been forced to make concessions to the United States as President Trump’s trade war intensifies.
The Federal Open Market Committee is expected to raise its short-term interest rate — a benchmark for many consumer and business loans — by a modest quarter-point to a range of 2.25% to 2.5% after a meeting on Wednesday. This would be its ninth hike since late 2015. The central bank forecasts three more rate hikes in 2019, but softer global growth could cause a shift in its hawkish stance, as China announced that its industrial output and retail sales had slowed in November.
With economic growth at its weakest since the global financial crisis, Chinese policymakers are ramping up spending, pushing banks to increase lending and cutting taxes to shore up businesses and ward off a more damaging slump. November industrial output and retail sales growth numbers showed that downward pressure on the economy is increasing.
Xi wants to see the trade war resolved sooner rather than later given the disproportionate effect of trade on the Chinese economy when compared to that of the United States. China’s exports to America amounts to a larger segment of the Chinese economy than the amount to which China-bound U.S. exports represent to the U.S. economy. Last year China exported $500 billion worth of goods to America out of a total Chinese economy of $12 trillion. The U.S. exported $130 billion goods to China out of its GDP of $19 trillion .
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