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IMF Downgrades Global Growth Forecasts
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The International Monetary Fund reduced its forecast for global growth for 2018 and 2019 during its October World Economic Outlook report. Having previously forecast global growth of 3.9% for both years, the IMF has now revised this down to 3.7% for both 2018 and 2019. Factors including the effect of the US-China trade tariffs imposed on imports plus weakening economic performance by the Eurozone, Britain and Japan were cited as significant reasons behind the growth downgrade. 

 

Politics and Trade Wars 

The effects of the emerging US-China trade war are expected to be seen...

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Analysis
OECD Efforts Against Corruption
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The Organization for Economic Cooperation and Development (OECD) is an inter-governmental unit that was formed by 36 countries. It enables the member countries to share practices that would help improve their respective economies while at the same time advocating for good practices. OECD highly condemns bribery amongst the members and urges the governments to punish culpable persons. 

 

Anti-Bribery Convention 

It is a not so uncommon practice for companies and businesses to engage in bribery to gain a competitive advantage in the market. OECD anti-bribery convention...

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Analysis
Why the UK is Still Struggling with Poor Infrastructure
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Britain’s Government has become reluctant on investing in national development which has led to a lot of consequences. There are evident measures that show how the UK has become broke and not only in the public sector but many other sectors have been affected. The government needs a lot of funds to keep up with the top developments in the 21st century. The private sector has also been in the hang because it lacks total support from the government. 

 

The Impacts of Poor Infrastructure in the UK 

The tendency to think that the UK spends enormous sums of money...

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Analysis
What you need to know about supplier audits
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Supplier audits are an effective way to identify and prevent any problems that may arise with your products, particularly regarding quality control. They allow any issues to be dealt with quickly, preventing them from becoming widespread. Audits may also ensure that processes are streamlined to give optimum efficiency, and can strengthen the relationship between a company and its suppliers. 

 

Carrying out an audit 

Gathering all the relevant information and documents that have been exchanged with the supplier should be the first step. This will include any...

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News
Investors losing confidence in Turkey
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The Turkish Lira is continuing to lose ground against the US Dollar as the political and economic turbulence between the two countries worsens. What started as a political problem regarding the release of an American citizen being detained by Turkey on terrorism charges has now become a full-blown trade war between the two nations. The US has imposed tariffs on imports from Turkey which prompted a direct response. Investors are now losing confidence in the ability of the two leaders to restore the relationship and reverse the decline of the lira. 
 

Experts fear a collapse

Experts...

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Analysis
An Overview of Italy's Trade and Export Business
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Italy has an established trade rapport with the UK. It is a crucial and advanced economy whose Gross Domestic Product (GDP) was USD 1.85 trillion in 2016. Italy is also the second highest manufacturer in Europe after Germany. Italian businesses are globalising, and most of them are Small and Medium Enterprises (SMEs) and need professional services to grow globally. 

 

Access to the Eurozone 

Italy’s industrial triangle of Milan, Turin, and Genova is conveniently located near other rich areas like the Rhine-Ruhr region. Additionally, while the EU has steadily grown...

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Analysis
UK SME Strategies for Brexit’s Uncertainty
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Despite the ongoing exit of Britain from the European Union, small and medium-sized enterprises (SMEs) are still keen on boosting their sales all over Europe. These enterprises are significant in the UK as they account for 50% of its turnover and a significant number of private sector employments. How the businesses will deal with the Brexit uncertainty is, therefore, very vital. 

 

Effects of Brexit on the UK 

Britain-Europe relationship is facing a lot of uncertainty, a condition that has led to the weakening of the Sterling Pound against the Euro resulting in the...

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Analysis
Package Outcomes for Free Trade 2018 
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The Regional Comprehensive Economic Partnership coalition of ministers for trade of the concerned countries is on the verge of concluding the six-year negotiation on free trade. The Minister for Trade and Industry of Singapore, Chan Chung Sing urges the negotiators to be flexible enough to reach a conclusion and seize the opportunity to end the talks with a credible package for free trade by the end of 2018. 

 

The Tokyo Convention 

On July 1st, the ministers of trade of Singapore and Japan, together with other representatives from Australia, Vietnam, Laos, New Zealand,...

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News
Europe To Apply U.S. Tarrif Countermeasures
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The G7 summit held in Charlevoix, Quebec, on Saturday ended on a negative note. After two days of very difficult meetings mainly focusing on the protectionist stance taken by the U.S., tensions escalated after Canadian Prime Minister Justin Trudeau stated that Trump’s tariffs were insulting in the closing conference. The US president reacted with a Twitter tirade soon after, and true to his signature unpredictable and incendiary responses, he announced that he had ordered his representatives not to honour the Communique, due to Trudeau’s false remarks made after he had left...

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News
African Continent Edges Closer to Trade Agreement
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The Rwandan capital of Kigali was the stage for the signing of the African Continental Trade Agreement (CFTA) by 44 of the continent’s 55 nations. With the aim of creating a single market for goods and services on the African continent covering 1.2 billion people, it would be the largest trade agreement reached since the World Trade Organisation was created in 1995. 

 

Two Notable Absentees 

However two of the nations not to sign up to the agreement in Kigali were Nigeria and South Africa, two of the largest economies on the continent. Nigeria cited fear of the deal...

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