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News : Global Economy Last Updated: Oct 9, 2015 - 12:32 AM

News : Global Economy

Bolder policies can inject a new momentum into the world economy to help it overcome what has been so far a disappointing recovery characterised by a "new mediocre era of growth," Christine Lagarde, IMF managing director, said Thursday.

Oct 3, 2014 - 11:05 AM

News : Global Economy

World Economic Growth: In the current global environment of sub-par growth, there is a strong case for increasing public investment in countries in infrastructure where conditions are right, finds a new study released in the IMF's World Economic Outlook.

Oct 1, 2014 - 2:41 AM

News : Global Economy

The Swiss government wants to abolish controversial tax privileges for international firms and introduce a royalty box and an interest-adjusted profit tax. Presenting the Cabinet's draft proposals, Finance Minister Eveline Widmer-Schlumpf said the aim of the reform is to adapt the fiscal policy to international standards, boost Switzerland's competitive edge as an attractive business location and encourage companies to continue to make an important contribution to funding the tasks of the government, cantons and local authorities.

Sep 25, 2014 - 7:45 AM

News : Global Economy

The International Monetary Fund (IMF) says that an uneven global recovery continues, despite setbacks this year.

Sep 18, 2014 - 7:46 AM

News : Global Economy

The moves to cut trade tariffs from the late 1940s ushered in decades of prosperity in the developed world while enabling countries as diverse as Ireland and China to use globalisation characterised by trade and foreign investment, to rise from poverty. Now with growing income inequality and job insecurity, people in advanced economies are increasingly not convinced about the benefits while in Germany, one of the big beneficiaries of trade, people don't like the idea of foreigners buying their companies.

Sep 17, 2014 - 4:36 AM

News : Global Economy

Last year G20 group of leading developed and emerging economies tasked the Organisation for Economic Co-operation and Development - - the Paris-based think-tank for 34 mainly developed countries - - to produce proposals for reform of global corporate tax rules and today the OECD released its first recommendations for a co-ordinated international approach to combat tax avoidance by multinational enterprises, under the OECD/G20 Base Erosion and Profit Shifting Project designed to create a single set of international tax rules to end the erosion of tax bases and the artificial shifting of profits to jurisdictions to avoid paying tax. It's the biggest reform program of global business tax rules since their development in the 1920s.

Sep 16, 2014 - 1:55 PM

News : Global Economy

The United States has the 3rd least competitive tax code in the 34-member OECD (Organisation for Economic Co-operation and Development), trailed only by Portugal and France, according to the 2014 International Tax Competitiveness Index (ITCI; pdf) released Monday by the right-leaning Tax Foundation in Washington DC. The report finds that Estonia (No. 1), New Zealand (2), and Switzerland (3) have the most competitive tax codes among developed nations. Ireland got an 15th ranking.

Sep 16, 2014 - 3:03 AM

News : Global Economy

A moderate expansion is underway in most major advanced and emerging economies, but growth remains weak in the Eurozone, which runs the risk of prolonged stagnation if further steps are not taken to boost demand, according to the OECD’s gloomy Interim Economic Assessment, which cuts its forecasts for all big economies except India.

Sep 15, 2014 - 3:10 PM

News : Global Economy

Global demand for crude oil slowed at a "remarkable" pace in the second quarter because of weak economic growth in Europe and China, according to the International Energy Agency, the Paris-based energy watchdog for 28 industrialised countries, including Ireland.

Sep 12, 2014 - 8:29 AM

News : Global Economy

This week Christine Lagarde, IMF chief, said in an interview that the world economy will grow a "small 3% this year, between 3% and 3.5%."

Sep 12, 2014 - 7:45 AM

News : Global Economy

Just over 14% of men work part-time in Switzerland, a country with the second highest rate of part-time workers out of all OECD nations. Nine out of ten men would like to reduce their hours at work, according to one study. So why don't more make this a reality?

Sep 12, 2014 - 7:01 AM

News : Global Economy

"If only God would give me some clear sign! Like making a large deposit in my name at a Swiss bank," Woody Allen, the American comedian, quipped in his 1975 book, 'Without Feathers' and in a bizarre development, Switzerland, the world's biggest personal tax haven, has reopened a case where a federal minister has been accused of hiding company funds in offshore letter-box companies to evade tax.

Sep 12, 2014 - 6:16 AM

News : Global Economy

The world economy has not yet escaped the growth doldrums in which it has been marooned for the past four years, and there is a growing danger that this state of affairs is becoming accepted as the "new normal, " the United Nations (UN) trade agency said in its annual report published Wednesday. "Policymakers everywhere, but particularly in the systemically important economies, need to assess current approaches and pay closer attention to signs of inclement economic weather ahead," it said.

Sep 11, 2014 - 8:08 AM

News : Global Economy

The World's biggest economies have been warned on the reliance on poor quality jobs with little security coupled with stagnant pay.

Sep 10, 2014 - 7:04 AM

News : Global Economy

Global economic growth is likely to remain at muted levels in most of the big world economies in coming months, according to leading indicators published Monday by the Organisation for Economic Co-operation and Development (OECD).

Sep 8, 2014 - 3:45 PM

News : Global Economy

Unemployment will remain well above its pre-crisis levels next year in most of the 34-mainly developed member countries of the OECD (Organisation for Economic Co-operation and Development, despite modest declines over the rest of 2014 and in 2015, according to a new employment report.

Sep 4, 2014 - 4:31 AM

News : Global Economy

Over the last 20 years, the number of university graduates has been steadily rising all over the world. That’s true in Switzerland, too, although historically fewer people in the Alpine country have pursued higher education than elsewhere in Europe – and more are employed. What do the numbers tell us?

Aug 27, 2014 - 3:12 AM

News : Global Economy
The most liveable cities tend to be mid-sized and boring compared with the Economist Intelligence Unit's 2014 global liveability ranking for big metropolises with London at 51st of 140 cities, just ahead of mid-size Dublin at joint 46th.
Aug 20, 2014 - 7:21 AM

News : Global Economy
A recovery in the global corporate capital expenditure (capex) cycle is some way off, according to a report published by Standard&Poor's Ratings Services. Despite healthy corporate balance sheets, global capex spending fell by 1% in real terms in 2013. Current estimates suggest a similar decline is likely in 2014 and early indications for 2015 are even more pessimistic.
Aug 18, 2014 - 5:37 AM

News : Global Economy
Despite high geopolitical tensions in Eastern Europe and the Middle East, oil prices have dipped this week in response to robust supply and a weak world economy whileUS production is at the highest level since 1987.
Aug 14, 2014 - 3:59 AM

News : Global Economy
Global fund managers are reported to have raised cash holdings to the highest since June 2012, according to a survey this month by Bank of America Merrill Lynch, while cutting European equity holdings.
Aug 13, 2014 - 7:31 AM

News : Global Economy
Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, continue to point to stable growth momentum in the OECD area as a whole.
Aug 11, 2014 - 2:48 PM

News : Global Economy
Last week in an alert from Japan, the first major country to experience a natural fall in its population, it was reported that as many as 8.2m houses in the country are vacant - - accounting for 13.5% of the housing stock - -  and the number has increased by 630,000 from five years ago to a record. The economy is still struggling to exit 15 years of deflation and according to Moody's it's is one of 3 'super-aged' countries that is set to become 13 by 2020 and 34 by 2030.
Aug 7, 2014 - 8:59 AM

News : Global Economy
The global economy made a solid start to the third quarter, as output growth in manufacturing and services accelerated to its highest rate in almost three-and-a-half years. The further expansion in business activity was underpinned by robust inflows of new orders, encouraging both manufacturers and service providers to raise employment.
Aug 6, 2014 - 8:57 AM

News : Global Economy
It has been a bad week so far for Russia as the US and leading European powers on Monday agreed to ramp up economic sanctions while in The Hague, the Permanent Court of Arbitration said that the Russian Federation should pay $50bn to the major shareholders of Yukos, which until 2003 was the country's biggest oil company, but was confiscated and broken up on the orders of President Putin while its assets were given to Rosneft, now the world's biggest quoted oil company.
Jul 29, 2014 - 5:56 AM

News : Global Economy

Switzerland has faced turbulence in recent times over tax evasion and banking secrecy, and the Swiss have this year agreed under duress to sign up to a multilateral agreement sponsored by the Organisation for Economic Co-operation and Development (OECD), which provides for automatic sharing of banking information from 2017. However, a French economist claims that Swiss banks will continue to have tempting incentives to cheat.

Jul 28, 2014 - 7:20 AM

News : Global Economy
The IMF’s latest World Economic Outlook (WEO) Update published Thursday says that global recovery continues but at an uneven pace, and that downside risks remain. The Fund has cut its 2014 forecast and it said continued policy efforts are needed to secure a more robust recovery.
Jul 25, 2014 - 7:24 AM

News : Global Economy
Dublin's Grafton Street is the 23rd most expensive country ranking retail location in the world and is down from 6th rank in 2006.
Jul 23, 2014 - 11:55 AM

News : Global Economy
Taking an important step towards greater transparency and putting an end to banking secrecy in tax matters, the Organisation for Economic Co-operation and Development (OECD) on Monday released the full version of a new global standard for the exchange of information between jurisdictions. It also announced that €37bn in taxes has been collected since 2009 by governments, from tax evaders who had funds hidden in tax havens.
Jul 22, 2014 - 7:31 AM

News : Global Economy
Global Fund Managers’ allocation for equities is at a multi-year high but intention to own European stocks on a 12m view has dropped to 13 month low according to the BofA Merrill Lynch Fund Manager Survey for July.
Jul 18, 2014 - 4:05 PM

News : Global Economy
A new index published Monday by The Economist Intelligence Unit shows that islands states can dominate global e-trade, with Australia, UK and Japan all in the top 5. The G20 e-Trade Readiness Index, sponsored by eBay, points to the strength of the UK’s international trading environment. It also has high usage of e-payments systems and social media, much higher than its European neighbours, which bodes well for e-trade digital marketing.
Jul 15, 2014 - 1:45 AM

News : Global Economy
You may not think buying a chocolate bar from a supermarket or filling up a car with fuel would have anything to do with the huge fine given to French bank PNB Paribas earlier this month. But they do.
Jul 14, 2014 - 9:10 AM

News : Global Economy
Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, continue to point to stable growth momentum in the OECD area as a whole.
Jul 9, 2014 - 2:51 AM

News : Global Economy
Christine Lagarde, International Monetary Fund (IMF) managing director, on Sunday said in a speech at the Le Cercle des Economistes' Rencontres Economiques d’Aix-en-Provence economics symposium in her homeland, France, that the global "recovery remains modest and fragile."
Jul 7, 2014 - 6:21 AM

News : Global Economy
The Bank of International Settlements (BIS) says in its annual report which was issued Sunday that the current global markets euphoria does not reflect economic reality and its general manger warned on interest rates that: " if they persist too long, ultra-low rates could validate and entrench a highly undesirable type of equilibrium - - one of high debt, low interest rates and anaemic growth."
Jun 30, 2014 - 7:04 AM

News : Global Economy
Developing economies are increasingly victims of corporate tax avoidance by multinationals according to a paper issued Wednesday by the International Monetary Fund (IMF).
Jun 26, 2014 - 4:55 AM

News : Global Economy
Foreign direct investment (FDI) into developing economies is forecast to peak while China is expected to become a net investor, according to an annual report from an UN agency that was published on Tuesday. In a related survey, Ireland is not among preferred future host sites of top global companies.
Jun 25, 2014 - 7:31 AM

News : Global Economy
Manufacturing cost competitiveness around the world has changed dramatically over the past decade - - so dramatically that many old perceptions of low-cost and high-cost nations no longer hold, according to new research by Boston Consulting Group (BCG). In manufacturing, Brazil is now one of the highest-cost countries, for example, and the UK is the cheapest location in western Europe. Mexico now has lower manufacturing costs than China, while costs in much of eastern Europe are basically at parity with the US.
Jun 24, 2014 - 1:25 AM

News : Global Economy
Global investors have regained an appetite for risk against the backdrop of strong liquidity and a fairly positive economic outlook, according to the BofA Merrill Lynch Fund Manager Survey for June as a net 66% of respondents expect the global economy to strengthen over the next year. This bullish reading is unchanged from last month’s survey. However, concern at the pace of expansion is rising. A net 78% now anticipate below-trend growth over the next 12 months. In response, more investors than ever before (63%) are calling on companies to increase their capital spending.
Jun 18, 2014 - 9:12 AM

News : Global Economy
Have Swiss banks found a new religion? They are now distancing themselves publicly from their belief in banking secrecy. Their new strategy: to influence global standards on the automatic exchange of client information.
Jun 16, 2014 - 2:13 AM

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Strong Swiss franc gloom deepens for exporters
Spain's strong recovery to slow in the next few years
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Euro Area GDP grows at weak 0.3% in Q2 2015
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Euro Area industrial production dips in June and May after a flat April
Greece faces two years of recession according to EU officials
Global oil glut will continue into 2016
High EU youth unemployment rate not as bad as it seems
Despite euro dip China & US remain most competitive manufacturing nations
Irish Farmers & Milk Prices: 'Shackles' off in April; Demanding safety-net in August
Stable growth momentum in OECD area but slowing expected in China
Eurozone retail PMI surges to highest since January 2011
Irish construction activity growth eased in July
ECB monetary policy still tight for Southern Europe
US jobs rose by 215,000 in July; Unemployment rate stable at 5.3%
Irish pension managed funds returns at over 12% year-to-date in 2015
Irish chartered accountants' salary packages surge 13% in 12 months
German exports fell in June — surplus at record; Exports up 13.7% year-on-year
Prices for major food commodities in July lowest since September 2009
Business startup rates up in most OECD countries led by Australia and UK
Irish services PMI fastest rate since late 2006; Official data up only 2.4% in 12 months
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Irish M&A deals H1 2015: Dutch or UK firm acquires Irish firm for €32.6bn - they are both American
Global manufacturing in July weakest level in two years
Irish manufacturing PMI strong in July
Eurozone manufacturing sector continued to expand in July
US economy grew at weak pace in Q2 2015 - Worst expansion since 1945
Irish Economy: Fall in GNP in Q1 2015; GDP rises
Irish Economy 2015: Central Bank lauds strong recovery; Time to start paying down debt
Weak euro unlikely to have significant impact on Euro Area growth
Is Euro Area Ireland's top trading partner?: EU28 is overwhelmingly UK's
Irish residential property prices fell in Dublin in June
Disastrous 44-year War on Drugs and ignoring the evidence
HSBC & Tax Evasion: France/ Belgium issued criminal charges; UK/ Ireland nothing
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Facts do not always change minds - can even entrench misinformed
Finfacts changes from 2015
Facts of 2014: Guinness not Irish; 110 people own 35% of Russia's wealth
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Dreams of European Growth: France and Italy facing pre-euro economic problems
Globalization's new normal needs permanent underclass - Part 1
MH17 and Gaza: who is responsible?
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Aviva Ireland's 'fund' runs dry and life cover to die for
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Ireland as an Organised Hypocrisy is in lots of company
Dr Peter Morici: Friday’s US jobs report won’t alter Fed plans to raise interest rates
Own Goal: Could FIFA have picked worse World Cup hosts?
Ireland: Spin and spending will not save bewildered Coalition
Irish Government parties set for 2-year vote buying spending spree
European Parliament: Vote No. 1 for Diarmuid O'Flynn in Ireland South
Dr Peter Morici: US April jobs report may show 215,000 added in April
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Celtic Tiger RIP: Change in conservative Ireland six years after crash
Dr Peter Morici: Five things to know about the Fed’s obsession with inflation
In age of acronym/ Google, Trinity to rebrand as 'Trinity College, the University of Dublin’
Hoeness case part of ‘painful’ change for Swiss bankers
Dr Peter Morici: The Cold War was only on vacation
Dr Peter Morici: US economy drags on Obama's approval ratings; Don’t look for changes in Washington
Dr Peter Morici: Bitcoin debacle shatters the myth of virtual money
Dr Peter Morici: US Tax Reform: Eliminate the income tax and IRS altogether
Wealth threatens the simple life in Gstaad, Switzerland
Irish journalists get cash payouts over 'homophobic' defamation claim
Irish academics get lavish pension top-ups as private pensions struggle
Dr Peter Morici: Inequality is President Obama’s highest priority, but solutions are naive
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The end of western affluence?
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France like Ireland is run for the benefit of the old
Asia Economy
IMF defers renminbi reserve decision; Devaluations losing firepower
Japan's trade deficit widens and GDP falls despite 33% yen devaluation
China's exports slide in July; Fx reserves dip $42.5bn in month
Chinese manufacturing PMI falls for 5th straight month in July; Japan at 5-month high
China's overseas investments to surge; Ireland got €99m of €46bn invested in EU in 2000-2014
China to overtake US economy in 2026; Income per capita will be 50% of US in 2050
Manufacturing activity in China and Japan contracted in June
China's manufacturing contracted for third straight month in May; Japan in slight rise
Asia accounts for 40% of global output, two-thirds of global growth
China's exports unexpectedly fell in April 2015 after March dip
China's growth in 2015 at slowest since early 2009
China's 2015 foreign trade continues to slide
Singapore remains world’s top location for business on 50th anniversary of independence
China's manufacturing activity fell to a 11-month low in March
China in surprise rate cut to boost sagging economy
Chinese Lunar New Year: Year of the Wood Goat begins this week
China’s manufacturing shrunk in January; Regional rise except Indonesia
Profits of Chinese industrial businesses plunged in 2014
China's growth in 2014 fell to a 24-year low
Services activity in China, Japan and India in moderate rises in December
China’s manufacturing industry remains competitive despite rising wages
China revises 2013 GDP up 3.4% to 56.5% of US economy size
China's manufacturing contracts in December; Japan's grows
China's imports slide in November; Emerging markets slow
Manufacturing PMI stalled in China in November; Fell in Korea, Indonesia , grew in India
China's manufacturing output contracted in November; Japan's accelerated
Ireland not among top 67 destinations for Chinese outbound FDI in 2014
Japan fell into recession in third quarter of 2014
Services slowed in China, contracted in Japan and stagnated in India in October
Manufacturing in South Korea/ Indonesia contracted in October; India in slight rise
Two Chinese manufacturing reports show trading near stagnation levels
Bank of Japan raises money printing target; Spending and wages plunge
China's manufacturing stagnates, Japan in moderate growth
China’s economy in third quarter grew at slowest pace in five years
Chinese exports jump in September; "Sadness will return soon"
World Bank cuts growth forecasts for developing East Asia including China
Japanese business confidence slightly improves; Manufacturing sector weak
Developing Asia remains fastest-growing region in world in 2014
Chinese manufacturing PMI rose slightly in September
Japan reports 26th straight monthly trade deficit; Public debt tops ¥1,000tn