Ingvar Kamprad, the IKEA founder who turned a small-scale mail order business into a global furniture empire, has died at 91, the company said Sunday. IKEA Sverige, the chain’s Swedish unit, said on Twitter that Kamprad died Saturday at his home in Smaland, Sweden. “He will be much missed and warmly remembered by his family […]
Read moreHundreds of supporters of Russian opposition leader Alexei Navalny began a nationwide day of protest against the authorities on Sunday, calling on voters to boycott what they said was a rigged presidential election on March 18. Beneath bright blue skies, hundreds of young people gathered in the main square of the port of Vladivostok in […]
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Russian police reportedly force their way into opposition leader Navalny's office
Russian police forced their way into the Moscow office of opposition leader Alexei Navalny on Sunday and started questioning people, images broadcast online by Navalny’s supporters showed. Roman Rubanov, a Navalny supporter, wrote on social media that the police said they were looking into reports that there was a bomb in the office, something he […]
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Saudi Arabia set to announce major contracts for new cross-country railway
The transport minister of Saudi Arabia said Friday that opportunities are coming up for international investment in the country’s rail infrastructure. “We have long-term public/private partnership (PPP) concessions that are in play. We are looking at restructuring some of our airports as well, allowing them to be privatized and then the big one is railroading” […]
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The Bank of Japan's governor says inflation is finally close to target
Japan’s central bank governor said Friday that the country’s economy is finally close to its target inflation rate of around 2 percent. Speaking at the World Economic Forum (WEF) in Davos, Switzerland, Haruhiko Kuroda said growth in the country is now recognized as the second biggest boom in the post-World War II era. Japan’s unemployment […]
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Nobel Prize-winning economist Robert Shiller thinks bitcoin is an ‘interesting experiment’
Bitcoin has “gone viral as a currency” and its price instability is a concern, economist Robert Shiller said Thursday. Speaking at the World Economic Forum (WEF) in Davos, Switzerland, Shiller compared the cryptocurrency to other attempts to “change” currency. Referring to concepts like the Unidad de Fomento — a Chilean unit of account that is […]
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“Even without testosterone, we can produce positive, constructive energy,” the Managing Director of the International Monetary Fund Christine Lagarde said in Davos. Lagarde was one of seven female co-chairs at this year’s forum, drawing attention for women’s rights, including equality in the workplace. Source: cnbc Who said what at Davos 2018
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Microsoft calls for 'new Digital Geneva Convention' after spate of high-profile cyberattacks
Microsoft is pushing for a new set of global norms to try and police government activity in cyberspace, following a spate of high-profile cyberattacks. Speaking at the World Economic Forum (WEF) in Davos, Switzerland, the tech giant’s president Brad Smith said Friday: “This is supposed to be a time of peace… so the world has […]
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Top European officials are slamming Mnuchin's comments on a weaker dollar
Another top official at the European Central Bank has made a thinly-veiled swipe at the U.S. administration, following comments made by Treasury Secretary Steven Mnuchin which caused the dollar to slump against the euro. The greenback tanked to a three-year low Wednesday when Mnuchin said that a weaker dollar is beneficial for the country. This […]
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Bitcoin can be called an asset, just don’t call it money, Swedish central banker says
Bitcoin and other cryptocurrencies are “not a very good version of money” due to their volatile nature, the deputy governor of Sweden’s central bank said Thursday. Cecilia Skingsley said that digital currencies were not an efficient store of value or means of exchange, but conceded that they could be called assets instead. “In my view, […]
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