US Department of Commerce: US exports to Russia rose 21 percent, reached record high of $1.25 billion in May, During same month, American exports to EU, China increased 2.5 percent and 2.2 percent, respectively. US imports from Russia decreased 8.5 percent in May, totaling $2.15 billion.
Austria’s largest bank by assets, and the third biggest bank in Eastern Europe after UniCredit and Raiffeisen, announced that, its earlier forecast about the amount of bad loans on its books is wrong, will rise by 40%, leading to what will be a record $2.2 billion loss, and triggering writedowns.
To central bankers currency that competes with their debt based currency scheme threatens their monopoly on controlling the money supply, foment ethnic or sectarian violence playing divide and conquer in order to try to overthrow governments that does not want a central bank.
Central Bank official warns virtual and digital currencies have potential to challenge sovereignty of states, banks ability to influence price of credit for economy. Substantial threat to the country’s finances if more transactions for goods, services disappear from tax net through use of digital currencies.
Germany to introduce a national minimum wage of 8.50 euros ($11.60) an hour Thursday, is hoped will help the poor and stimulate demand. Rresisted by conservatives, say it will make industries uncompetitive. Excluded some ,under-18-year-age, long-term unemployed first six months in new job.
Bank manager in Spain charged with cheating a partially blind 93-year-old out of €27,000 by fooling him into signing a document which granted her access to his savings. Bank staff “gave excuses” and “showed opposition” when police officers requested the relevant documents for their investigation.
Residents ,merchants in Iraq province Babil to stop importing commodities from Turkey, Saudi Arabia due to support of Ankara and Riyadh for violence in Iraq. Boosting imports from Iran. Iraqi forces start massive operation against terrorists, denounce Al Saud regime as major supporter of global terrorism.
Thousands of Italians have taken to the streets of the capital Rome to protest European Union-backed austerity measures. Italians have been staging protests against high unemployment, economic adversity and hardship over a series of government-imposed austerity packages in recent years.
Russia’s state-owned gas company Gazprom has warned European countries that it will limit natural gas supplies if they resell the natural gas to Ukraine, closely monitoring the situation and may curb supplies to nations that pump the Russian gas to Ukraine through reverse flow.
meat in the US labeled with country of origin, it now includes details, where the animal was born, raised, and slaughtered. The move is hailed by meat consumers meat industry opposed the measure. Country of Origin Labeling rule went into effect in May of 2013.
China moving forward to create its own version of the World Bank, will rival institutions under the sway of the US and West, will start with $100 billion in capital. will extend China’s financial reach, compete with the World Bank, also with the Asian Development Bank, dominated by Japan.
Press TV People held anti-austerity protests in France as country continues to struggle with economic problems. Trade union members across country staged walkout over policies adopted of President Francois Hollande, said Hollande not different from his predecessor Nicolas Sarkozy.
Anyone saying "the Fedeal Reserve Act is bad" in Germany is looked upon by the mainstream as a Nazi. His friends car that he was in, was set on fire. The movement gained massive popularity in Berlin is against the U.S Federal Reserve. www.PublicCentralBank.com
Several witnesses said Artan Santo was shot at least five times by two men on a motorcycle at a busy crossroads just off Tirana's main boulevard where the bank's offices are located. It was not immediately clear who was behind the killing. Police have offered a reward of 10,000 euros.
Two top US business lobbies plan to run newspaper adverts warning that more Russian sanctions risk harming US workers and businesses. The trade associations warn that economic sanctions will translate into huge damages from lost trade, exports with Russia.
Ukraine President will reportedly sign austerity-driven economic, trade agreement with European Union, which polarized the nation, sparked months of violence. Bring sweeping, changes, harsh” reforms, to economy. 1,200-page document with rules on everything: turkeys to tulips, cheese to machinery.”
In response to mass evictions and billions of tax dollars put into the World Cup, protesters battled police in “Robocop” suits, flame resistant built to withstand heavy blows. In 2008 1.25 million people were evicted by Chinese government from their homes in preparation for the 2008 Olympics.
Russia’s President Vladimir Putin is trying to save the world from war. We should all help him. President Putin has asked the Russian legislature to repeal the authorization to use force that was granted in order to protect residents of former Russian territories that are currently part of Ukraine...
Russian Foreign Ministry: The European Union’s attempts to punish Crimea for its reunifying with Russia is completely unacceptable. European Council announced a ban on all imports from the Crimean Peninsula and the city of Sevastopol if goods do not carry a certification from Ukraine.
An $800,000 program to help low-income Detroiters pay their water bills will be put in place in July after services were cut off from some residents in recent months and complaints were made to a United Nations representative. 90,000 city residents and businesses behind on their water bills.
The Iraqi government has slammed the semi-autonomous Kurdistan region for exporting oil without Baghdad’s consent. The Iraqi Oil Ministry released a statement on Saturday condemning the regional government for export of oil extracted from the country’s northern fields.
The Thai military is rapidly taking control of Southeast Asia’s second largest economy with an overhaul of state enterprises, a suspension or cancellation of some of the previous government’s infrastructure projects and efforts to build bridges with foreign investors.
Sens. Chris Murphy (D-Conn.) and Bob Corker (R-Tenn.) on Wednesday unveiled Senate proposal to raise the gasoline tax 12 cents a gallon over the next two years. The federal gas tax currently 18.4 cents a gallon since 1993. The proposed increase would see the tax jump by 65%.
Ukraine’s new president says he will sign economic portion of association pact with the European Union next week, political part of the agreement was signed by interim Prime Minister Arseniy Yatsenyuk. One condition set by EU economic deal is Kiev lift import barriers.
Cambodia accused Thailand's new military rulers of fomenting exodus of migrant workers,economic hardship for both countries. 188,000 Cambodians who help keep major Thai industries afloat lack official work permits streamed across border since junta warned illegal foreign workers face arrest.
Eileen DiNino, 55, found dead in cell June 7th, 2014, Berks County Jail. Her children had habit of skipping school, government imposed truancy violations on her. Fines, court costs, over $2,000.00. Unable to pay fines, sentenced to 48 hours, debtor’s prison. passed away day into her sentence.
A Ukrainian delegation is set to travel to Hungarian capital Budapest in attempt to purchase gas from European firms after Russia cut off gas supplies to Kiev. Russia turned off gas to Ukraine Monday. Kiev refused to pay for natural gas upfront as protest to Russia’s decision to double gas prices.
Russia has halted supplying unpaid-for gas to Ukraine as a deadline for Kiev to pay its debt passes without a payment, Russian energy giant Gazprom says. Decision was taken as Ukraine had paid nothing of its debt. Russia warned Europe of possible supply disruptions if Ukraine drains off gas.
Having set a deadline of June 16 (next Monday) for pre-payment of gas supplies from Russia to Ukraine, it appears Ukraine officials are willing to take the pain of no energy instead of paying what Gazprom is asking.
By a Vote of 310 to 303, the Presbyterian Church (USA) Voted Today to Divest from 3 American Companies whose operations support the Israeli Occupation.
Financial institutions are offering borrowers aged up to 75 home loans leaving them with debts that they will be paying off until they are 105. Increasing number of retirees getting into financial difficulty and taking on mortgages later in life.
Tyler Cowen writing in the New York Times, came up theory to explain the "continuing slowness of economic growth in high-income economies." In his own words: "An additional explanation of slow growth is now receiving attention, however. It is the persistence and expectation of peace."
Ukraine’s prime minister ordered gas companies to prepare for possibility of Moscow cutting off gas supplies in next three days over disputed bills. EU-mediated talks failed after Ukraine refused Russian President Vladimir Putin’s offer of price of USD 385 per 1,000 cubic meters.
The measure, complies with new European Union rules meant to ensure that all member states use the same methodology to estimate the size of their economy. Britain and Italy announced they would start including revenues from drug trafficking and prostitution in their GDP calculations.
As one of the preconditions to authorizing close to $300 million in aid, the United States is pressuring El Salvador to purchase genetically modified seeds from Monsanto instead of non-GM seeds from local farmers.
Donetsk makes 23% of GDP and 13% of industrial production in Ukraine. This means that without Donetsk Republic the rest of Ukraine would be bankrupt and much more poorer than it is now, essentially could be called the economic engine. Why does Donetsk need the rest of Ukraine?
The federal government has bagged an unprecedented $360 million from household bank accounts since a controversial change to unclaimed money laws, figures from the Australian Securities and Investments Commission show.
Beginning August 1st of this year, JP Morgan & Chase Co. will charge their customers for depositing cash into their accounts. According to an internal document sent to account holders, in less than a month from now “the fee for all types of Cash Deposit Processing (CDP) will be $0.25 per $100.
This decision will result in a complete stall of all supply and sale of GM seeds in Pakistan, especially those which are altered with high pesticide and herbicide resistance. Considering that these crops have elsewhere been found to cause super bugs, super weeds, and human and animal illnesses,
German Chancellor Angela Merkel: Leaders of the Group of Seven most industrialized countries (G7) decided to abstain for the moment from imposing further sanctions against Russia, intend to discuss Ukraine with Russian President Vladimir Putin in France this week .
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