Argentina has now taken the U.S. to The Hague for blocking the country’s 2005 settlement with the bulk of its creditors. The issue underscores the need for an international mechanism for nations to go bankrupt.
Another deadline has passed. But instead of bringing about peace, the leaders of South Sudan’s warring parties have allowed the country to continue its slide toward famine.
United Nations officials and human rights organisations have characterised Israeli attacks on civilian targets during the IDF war on Gaza as violations of the laws of war.
In 1958, when New York State was considering raising its minimum wage, merchants complained that their profit margins were so small that they would have to cut their work forces or go out of business. In 2014 in Seattle at hearings on a proposed minimum wage increase, some businesses voiced the same fears.
The recovery of “grandchild number 114” – one of the sons and daughters of those who were “disappeared” during the Argentine dictatorship – caused a commotion that many compared to the excitement of making it to the final match of the World Cup a month ago.
Argentina’s supposed “default”, an unprecedented case in the history of world capitalism, sets a legal, political and financial precedent that indicates the need for concrete measures regarding the fine line between legal, ethical business activities and criminal usury.
India’s decisive stand last week not to adopt the protocol of amendment of the trade facilitation agreement (TFA) unless credible rules were in place for the development issues of the South was met with "astonishment" and "dismay" by trade diplomats from the North, who described New Delhi’s as "hostage-taking" and "suicidal".
As the death toll in Gaza keeps climbing - and charges of alleged war crimes against Israel keep mounting - the most powerful political body at the United Nations remains ineffective, impotent and in a state of near paralysis.
The overwhelming Israeli firepower unleashed on the Palestinian militant group Hamas in the ongoing battle in Gaza is perhaps reminiscent of the Algerian war of independence (1954-1962) when France, the colonial power, used its vastly superior military strength to strike back at the insurgents with brutal ferocity.
As the civil war in Syria continues into its fourth year, the Western nations sitting on the U.N. Security Council (UNSC) have unsuccessfully tried to condemn the killings of civilians, impose punitive sanctions and accuse the Syrian government of war crimes - in four vetoed and failed resolutions.
While this week's BRICS summit might have been off the radar of Western powers, the leaders of its five member countries launched a financial system to rival Bretton Woods institutions and held an unprecedented meeting with the governments of South America.
The Sixth BRICS Summit which ended Wednesday in Fortaleza, Brazil, attracted more attention than any other such gathering in the alliance’s short history, and not just from its own members – Brazil, Russia, India, China and South Africa.
As the negotiations on the Iranian nuclear programme approach the Jul. 20 deadline, both U.S. Secretary of State John Kerry and Iranian Foreign Minister Mohammad Javad Zarif have signaled through their carefully worded statements that they are now moving toward toward agreement on the two most crucial issues in the talks: the level of Iranian enrichment capability to be allowed and the duration of the agreement.
Iran’s supreme leader Ali Khamenei’s comments on the nuclear talks Monday provided an unusual glimpse of diplomatic maneuvering by the U.S.-led coalition of five nuclear powers and Germany on the issue of enrichment capability to be allowed in a comprehensive agreement.
Macau’s gaming boom just keeps on giving. Gambling revenues soared to a new high of 45 billion dollars last year, a whopping 18.6 percent rise over 2012 and the city’s sixth straight year of record earnings.