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Vatican Posts $19m Deficit despite Rise in Donations
The Vatican has reported one of its worst budget deficits in years as “the negative trend of global financial markets” did not permit “targets to be met”. The loss...
Zimbabwe Forces Foreign Banks To Surrender Control To Locals
Foreign-owned banks in Zimbabwe have been ordered to transfer 51 percent of their shares to black locals within a year, reported the Financial Times this week, though the policy...
Asia’s Growing Appetite for Global Foreign Direct Investment
Fast growing economies in Asia took up a quarter of the world’s foreign direct investment in 2011, as its share of the investment pie increases at the expense of...
EU Orders Italy To Refund $471 Million After Discovery Of Mafia-Linked Motorway
The Italian government must repay a record 381 million euros ($471 million) to the European Union for grants involving a motorway in the south of the country, reported the...
Hollande Targets the Rich in a €7bn Tax Plan
France’s Socialist president, Francois Hollande, has unveiled new tax rises worth 7.2 billion euros ($9 billion) that would mainly target the country’s wealthiest households and its biggest corporations. The...
Spanish Region Cuts Back on Inmate Snacks as Austerity Takes Its Toll
As part cost cutting measures aimed at tackling its debt crisis, Spain’s north-eastern region of Catalonia will soon be cutting down on its customary evening snacks for its prison...
India’s Super-Rich Population To Triple In Five Years: Study
The “super-rich” population in India – defined by having a minimum net worth of 250 million rupees ($5.6 million) – has grown by 30 percent to about 81,000 individuals...
India To Provide $5.4 Billion In Free Drugs To Citizens
The Indian government has enacted a $5.4 billion policy that will provide free medicine for its citizens by the end of this year, claimed a report by Reuters on...
Infographic: Are Americans Workaholics?
Whether it is to get a promotion, or to simply pay the bills, Americans workers put in some of the longest hours at work. However, how can we draw...
IMF Issues Warning on US Economy
The International Monetary Fund has pared its forecast for US economic growth this year, citing strains and risks from the eurozone debt crisis, as well as uncertainties over a...


