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Daily Archives: July 27, 2014

Can Africa’s desert sun power Europe?


Up to 20% of power demand in Europe can be obtained by connecting African deserts to European cities, according to the DESERTEC Foundation. The idea is to build a large number of concentrated solar power (CSP) plants in Middle Eastern and Northern African (MENA) countries, and to transmit electricity to Europe …

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Three ways Europe can restore growth


Many Europeans have come to believe that they have weathered the economic and financial storm. In the past two years, deficits and debt have stabilized. Yields on the sovereign debt of the eurozone periphery’s weak economies have fallen sharply. Portugal and Ireland have exited their bailout programmes. Talk of Greece …

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Seaborne Silk Road


The Great Silk Road, that is a transcontinental trading road, connects China with the Mediterranean and Black Sea coasts. Trading along this route started in the second millennium BC. The last years have recorded an extreme change in political and economic maps in Europe and Asia. Today Georgia is a …

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Ukraine and EU sign free trade zone deal


Ukraine has signed the economic part of the Association Agreement with the EU, with Georgia and Moldova also joining the pact, even though big economic risks lie ahead. The signing of the economic part of the agreement comes after 8 months of violent unrest in Ukraine, which broke out in Kiev and …

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Russia reported to be cancelling duty–free trade with Ukraine


The duty-free trade deal between Russia and Ukraine is coming to an end. Russia says fundamental changes mean that it will invoke Article 62 of the Vienna Declaration to terminate the understanding. The move comes as Russia insists it needs to protect domestic markets after Ukraine signed the Association Agreement on June …

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Sky not the limit: AirBaltic first airline to accept bitcoin


Bitcoin’s latest expansion is into commercial airspace after Latvian airline airBaltic announced customers can start using bitcoins to pay for tickets. AirBaltic is the first airline to offer a bitcoin payment option. “Introducing the bitcoin payment option is a part of our innovative approach to service with a central focus …

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$200 per barrel oil if Russia sanctions escalate- Oxford Economics


If the standoff with Russia and the West reaches a point where the EU has to completely cut trade with Russia, oil prices could soar above $200 per barrel, sparking a global economic crisis, says Adam Slater, senior economist at Oxford Economics. Cutting off trade with Russia, the world’s second …

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