South Korea building a $35bn city designed to eliminate the need for cars

When residents of the International Business District (IBD) in Songdo, South Korea go to work, pick up their kids from school, or shop for groceries, driving is optional, according to a World Economic Forum (WEF) report. That’s because the $35 billion district — currently a work-in-progress about the size of downtown Boston — was designed […]

Bitcoin boom presents higher risk to Japanese FX brokers – Deutsche Bank

Swelling cryptocurrencies interest among retail investors in Japan means that foreign exchange brokers in the Asian country face a “higher risk of failure”, an analyst at Deutsche Bank has warned. Retail investors are “shifting from leveraged FX trading to leveraged cryptocurrency trading,” reckons Masao Muraki, global financial strategist at the German bank, in a note […]

May urges EU leaders to move on with Brexit talks

Theresa May, British Prime Minister

Theresa May, British Prime Minister, will urge European Union leaders to approve an agreement to move Brexit talks on to a second phase on Thursday, describing it as a fair deal that offers a good base for a discussion of future ties. According to report by Reuters, at the beginning of a dinner in Brussels, 24 […]

Cinema to contribute $24bn to Saudi economy

The Saudi Arabian Ministry of Culture and Information has estimated the contribution of the cinema sector to its GDP to be over $24 billion (90 billion riyals) after its launch soon. According to the ministry, employment generated by the cinema industry will create a large impact on the economy which will increase the media market […]

Why North Korea’s economy survives sanction after sanction

A lot of US allies aren’t following through on their promises. The Trump administration has sought to rein in North Korea’s nuclear program by passing tougher and tougher sanctions designed to punish its economy. A new study shows why that isn’t working. A whopping 49 countries have violated UN Security Council sanctions imposed on North […]