A year and a half has passed since a devastating earthquake killed more than 300,000 Haitians and left a million more homeless. Today, between 300,000 to 650,000 Haitians remain stuck in temporary camps across the country as a housing crisis threatens to leave more than 94 percent of households in rural areas in debt while a further 80 percent of households living below the poverty line will be caught in the debt cycle as well.
Wynn Resorts Inc. CEO Steve Wynn launched into an astonishing rant on US President Barack Obama and the White House administration on Monday, while fielding questions at a conference call meeting with investors on his company’s quarterly earnings.
Describing the current administration as “the greatest wet blanket to business, progress and job creation in my (his) lifetime,” Wynn proceeded to blame the administration for hampering business confidence in Las Vegas, particularly that of his own personal ambitions for expansion.
18 July 2011.
On 1 November 1993, the European Union was formally established with the Maastricht Treaty – a culmination of a vision that began over 50 years ago when a small group of European politicians recognised the need for greater European integration to combat the wave of extreme nationalism that devastated the continent during World War II. Yet today in the face of a deepening debt crisis, Europe stands divided. George Soros, chairman of Soros Fund Management, warns that unless a Plan B is adopted, Europe faces “incalculable consequences.”
Hundreds of petrol stations across South Africa are running dry as fuel strikes enter into its second week with little to no end in sight.
The strikes began last Monday when tens of thousands of workers in the petroleum, chemical and pharmaceutical industries stopped working, demanding a 13 percent wage increase –more than the 4 to 7 percent offered by employers.
Here’s a weekly look at the top business, finance and world economy news.
14 July 2011.
Thailand is about to inaugurate its first female Prime Minister. Yingluck Shinawatra led her Pheu Thai party to victory in July’s general election winning 265 seats, and giving her party a majority vote in the 500 member parliament. Thailand’s current ruling government led by Abhisit’s Democrat Party will now take a backseat as the main opposition with only 159 seats in parliament.
Top Russian business leaders from 27 leading companies were caught by surprise on Monday when a discussion over Russia’s investment climate with President Dmitry Medvedev turned into a political campaign for Medvedev to remain in office – as the Russian President prepares for a possible confrontation with his predecessor and former mentor, Prime Minister Vladimir Putin, in next March’s presidential elections.
According to the latest report by the United Nations Environment Programme, developing countries have overtaken advanced economies as the largest investors in clean energy projects.
In 2010, global investments in renewable energy rose to US$211 billion – one third more than the US$160 billion invested in 2009, and a 540 percent rise since 2004.
