In a setback to investors and market enthusiasts, the IMF has downgraded the GDP estimate for US this year and advised the Federal Reserve to not increase the rates until the first half of 2016. The International Monetary Fund has given a red herring to the US economy. The international watchdog...

25 years ago, the Chinese authorities brutally suppressed the protests by broke up a demonstration in Tiananmen Square in Beijing. Today, non-conformism took new forms - in particular in art. Mostly, West associates intelligent, creative protest against the ideological pressure the Chinese...

The debt-ridden country has to now take actions on the austerity measures and economic reforms outlioned by IMF. The prime minister of Greece has submitted a bail-out proposal for the debt-ridden country and called it as a realistic proposal.   Greece Prime Minister Alexis Tsipras has...

OPEC continues to be in chaos with Russia increasing its oil production to record Post-Soviet level. Russia has increased its oil production to around 10.71 million barrels a day for the month of August in a bid to oust OPEC and its decision to not cut oil production in the Middle East.  ...

Indian energy giant Reliance Industries has sold its 49.9 percent stake in a US joint venture to Enterprise Products Partners for $1.07 billion.   The JV called Eagle Ford (EFS) Midstream, co-owned by Pioneer Natural Resources Co, owns a 460 miles pipeline network to exclusively transport...

The countries of the Euroasian economic union and the Socialist Republic of Vietnam signed the agreement on free trade. The prime minister of the Russian Federation Dmitry Medvedev and the head of the government of Vietnam Nguyen Tan Dung also signed two additional protocols and the second...

At the beginning of this year, the European central bank started the program of repayment of assets of 60 billion euros a month. However, with the first signs of turbulence in the financial markets, the extension of the program in May and June was declared. Thus, the volume of freshly printed money...

The bank connects positive results with reduction of operating expenses, successful trade operations with securities, and increase of transparency, thanks to the carried-out reforms. The net profit of Vatican Bank in 2014 made 69,3 million euros. Thus, for last year, the profit of the organization...

The so-called 'pay-to-pay fees' was set to be charged for some RBC customers from June 1 but heavy backlash forced the company to rethink the policy change. Canada-based Royal Bank of Canada is retracting a plan to charge customers transaction fees for loans, mortgage payments and debit...