ECONOMY June 27, 2011 | 5:20 PM
On his trinational EU tour, Chinese Premier Wen Jiabao met German Chancellor Angela Merkel in Berlin, resulting in the signing of $15 billion (around €10.4 billion) worth of business deals.
Bilateral trade relations between China and Germany, the world’s second and fourth strongest economies respectively, call for a measure of cultural diplomacy especially in light of Germany’s criticism of its new partner’s repressive political policy.Read more »
ECONOMY June 8, 2011 | 5:24 PM
Is the dream of home ownership becoming out of reach for Canadians? An RBC economics report revealed that, on the whole, home ownership became less affordable for Canadians in the first three months of 2011.
Taking mortgages, property taxes and utilities into account, it took nearly 41% of family income (up by 0.7%) to own a detached bungalow, over 46% to own a two-storey home (up by 0.2%) and 28% to own a condominium (up by 0.2%).Read more »
ECONOMY June 8, 2011 | 11:40 AM
Is there hope for the environment? According to a report submitted by Environment Canada to the UN Framework on Climate Change in May, Canadian greenhouse gas emission levels decreased for the second year in a row. The global recession, as well as the reduced use of coal for energy generation, contributed to a decline of approximately 6% (comparable to 42 megatons of carbon dioxide) between 2008 and 2009.
Back in 1997, Canada was one of several countries to sign the Kyoto Protocol – an international agreement addressing global warming linked to increased emissions of greenhouse gases such as carbon dioxide and methane. At that time Canada committed to reducing greenhouse gas emissions by 6% below 1990 levels of 590 megatons over the five-year-period spanning 2008 to 2012.Read more »
ECONOMY June 2, 2011 | 5:09 PM
The Brazilian government has launched a new social welfare initiative that aims to bring millions of citizens out of extreme poverty by 2014.
President Dilma Rousseff said the main objective of her government is to help these people achieve a reasonable standard of living.Read more »
ECONOMY June 1, 2011 | 11:54 AM
The UK government has given more information about its new Green Deal initiative, that aims to make UK homes more energy efficient.
Due to be launched next autumn, it will allow homeowners to finance as much as £10,000 of insulation renovations in order to reduce power consumption. Certified companies will foot the bill for the installation, and property owners will reimburse the loans, with interest, through charges added to their electricity bills.Read more »
ECONOMY May 31, 2011 | 10:48 AM
The Millionaire Next Door?This American book title aptly describes the 1,745,000 Canadian households, or one out of every seven households, found by a Deloitte Centre for Financial Services study on global wealth to have net assets of $1 million or more.
Individuals with net assets of over $5 million totaled 199,000, or one out of every 65 households in Canada. Among this group, the ultra-wealthy, worth over $30 million, numbered 17,000, or 1% of millionaires.Read more »
ECONOMY May 29, 2011 | 11:51 AM
Confidence among Japanese consumers continued its sharp decline, following on from the earthquake and tsunami that battered the country in March.
The consumer confidence index fell for the third month in a row, with March figures of 38.6 falling to 33.1 in April – the fastest rate of decline since records began in 2004. An index below 50 shows overwhelming consumer pessimism.Read more »
ECONOMY May 27, 2011 | 4:20 PM
Mobile banking could help millions of Indians without access to financial services, according to industry experts. It has the potential of transforming peoples’ livelihoods in rural and other marginalized areas of India. However a few still bottlenecks exist, such as illiteracy, lack of awareness, apprehension and limited or no banking infrastructure in rural areas.
Around 775 million people in India own mobile phones, with 19 million new subscribers adding to that number monthly. According to Gartner technology research specialists, one tenth of the world’s phones are sold in India. In contrast, almost 50% of India’s adult population does not have a bank account. The mobile platform presents the easiest and fastest channel of bringing the millions of unbanked Indians into the country’s mainstream banking system; therefore, the potential for mobile banking uptake is quite huge.Read more »
ECONOMY May 25, 2011 | 6:15 PM
A new report from Australia’s Climate Commission says the world must act soon to avoid serious climate events brought on by global warming.
Will Steffen, author of "The Critical Decade: Climate science, risks and responses", said that Australia needs to undergo a green energy revolution before 2020 to reduce the risk of irreparable damage to the environment.Read more »
ECONOMY May 19, 2011 | 11:45 AM
Governor Chris Gregoire of Washington wants to use $3 million in federal funds to go toward aerospace training in her state. Using the Workforce Investment Act funds, Governor Gregoire wants to re-train 500 workers and lead to the hiring of many more by encouraging education in aerospace technology and engineering.
Governor Gregoire has discretion over how to use 10% of the state's Workforce Investment Act money. This will be the first time she has ever used all of her discretionary money in one industry.Read more »
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