“The Detroit city government is weeks away from running out of the cash it needs to operate, according to an initial report from the emergency manager overseeing its finances.” Source: City of Detroit is financially ‘insolvent’ – May. 13, 2013
“Tax avoidance, secret mining deals and financial transfers are depriving Africa of the benefits of its resources boom, ex-UN chief Kofi Annan has said. Firms that shift profits to lower tax jurisdictions cost Africa $38bn (£25bn) a year, says a report produced by a panel he heads.” Source:BBC News – Kofi Annan: Africa plundered by [...]
“The Japanese currency has breached the 100 yen to the US dollar mark for the first time since April 2009.” Source: BBC News – Yen breaches 100 threshold mark against US dollar
“The huge reservoirs of natural gas discovered off the coast of Israel now flowing toward shore have the potential to transform the once energy-strapped country into a lean, green manufacturing machine — capable of supplying cheap, clean energy to its citizens, factories and vehicles for a generation.” Source: Israel, once energy-dependent, is new big gas [...]
“The UAE pledged Dh183 million ($50 million) for Somalia during the International Conference on Somalia hosted in London yesterday.” Source: UAE pledges $50m for Somalia | GulfNews.com
