Category: News Desk

UK Falling Trade Deficit Rebukes Brexit Fearmongers


A decline in Britain’s trade deficit due to a sharp increase in exports is emboldening supporters of the UK leaving the European Union.  The country’s trade deficit with foreign countries fell significantly, after a high deficit was recorded earlier in the year.

According to the Office for National Statistics, the trade deficit fell 7.2% in April from the prior month, which other studies suggest are a result of higher exporting activity and resurgence in Britain’s industrial output.

Turkmenistan Seeks Military Assistance from Russia to Preserve Border Security


Russian media announced that Moscow would provide financial assistance and weapons to Turkmenistan forces, according to EurasiaNet. Turkmenistan has remained neutral, but authorities grow increasingly worried over the growing instability in neighboring Afghanistan. President Gurbanguly Berdymukhamedov stated that he intends to upgrade the military and improve soldier training.

OECD: Air Pollution May Cost World Economy $2.6 Trillion per Year by 2060


At this point, there are few that contest that air pollution reduces the quality of life in urban centers and may be a major contributor to climate change. However, a recent study by the Organization for Economic Cooperation and Development (OECD) examined the economic consequences of air pollution and arrived at some disturbing findings.

Weak Jobs, Consumer Activity Hint at Weakening American Economy


A disappointing increase in job openings and a poor increase in consumer credit indicate Americans are increasingly struggling to make ends meet.  In April, consumer credit rose just $13.4 billion, far below the $18 billion expected and less than half of March’s $28.4 billion, according to new data released by the Federal Reserve.

Analyst expectations of sharply increasing consumer credit usage were based on previous data that showed strong retail sales, which is often financed by credit cards.

Kenyan Government Bans Political Protests: Opposition Will Defy Decree


CORD, an organization helmed by opposition leader, Raila Odinga, intends to negate an official mandate banning protests after demonstrations have resulted in damaged property and loss of life, according to Reuters.

Rallies have occurred each Monday since April as demonstrators object to the electoral commission’s alleged favoritism toward incumbent President, Uhuru Kenyatta. Kenyan elections take place on August 2017.

ICC: Singapore Top Destination for International Arbitration in Asia


The International Chamber of Commerce (ICC) Court of Arbitration released a list of its top destinations for international arbitration. With the growing economic importance of Asia, it is no wonder that an Asian nation has risen to the top of the rankings. Singapore has taken the fourth seat on the list of most chosen arbitration venues overall, and first in Asia. This is the tenth consecutive year the nation has been in the top five.

Worsening Labor Conditions Spook Federal Reserve


Deterioration in America’s job market are making the Federal Reserve reverse course on its plans to raise borrowing costs.  In May, several chief Fed officials gave public speeches and interviews urging markets to prepare for an interest rate hike.

Formula One Urged to Decry Azerbaijan’s Human Rights Record


Sport for Rights, an organization that highlights human rights abuses in Azerbaijan, has urged Formula One to speak out against transgressions committed by the state, according to The Guardian. Azerbaijan has a track record of detaining journalists and political dissidents, among other violations. Azerbaijan is set to host the Formula One race on June 19.

WTO: “Money Laundering Tariff” Judgment for Panama against Colombia


On Tuesday, the World Trade Organization (WTO) granted an appellate ruling in favor of Panama against Colombia. The ruling pertained to Colombia’s use of high tariffs on imported textiles, clothing, and shoes as part of a plan to address alleged money laundering.

UK Sees Economic Bright Spot


A small improvement in manufacturing in the UK surprised economists, as the country looks at its economic future in the European Union.  The most recent Markit Purchasing Managers Index for services (PMI) rose to 53.5, a sharp increase from the prior month. The data stunned economists, who had expected a much weaker reading.