World – Muhasebe News

OECD reduced economical growth forecast again

MuhasebeNews — Wed, 06 Mar 2019 13:18:45 +0000

The Organisation for Economic Co-operation and Development (OECD) reduced its global economic growth forecast by 3.3% for 2019 and 3.4% for 2020 on its interim Outlook report.

The Outlook was 0.02% higher for 2019 and 0.02% higher for 2020 on OECD’s November report.

OECD stated in the report that “high policy uncertainty, ongoing trade tensions, and further erosion of business and consumer confidence are all contributing to the slowdown.”

It is also indicated that the Brexit uncertainty, trade tensions between the U.S and China and the recession in Italy have an impact on the European economy.

Source: Reuters
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Davos hits Bitcoin

MuhasebeNews — Fri, 25 Jan 2019 14:00:02 +0000

Participants at World Economic Forum Summit in Davos also touched on the cryptocurrency markets.

Huw van Steenis, the senior adviser of Bank of England stated that cryptocurrencies are failing the ‘’fundamental tests of financial services.’’

Jeff Schumacher, founder of BCG Digital Ventures said that Bitcoin would go to zero.

83 cryptocurrencies have lost value in 24 hours following the statements.

Bitcoin dropped by 0.88%, depreciating to $3,573.

Among the top 10 cryptocurrencies, only Tron appreciated.

Jeremy Allaire, CEO of cryptocurrency platform Circle also commented on the issue.

“Crypto is fundamental to the future; we need tamper-proof, resilient, decentralized infrastructure if we want society to survive the digital age,” Allaire said.

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

U.S is staying in NATO

MuhasebeNews — Thu, 24 Jan 2019 10:30:28 +0000

There have been some allegations in the U.S media about President Trump’s wish to leave NATO.

The U.S House of Representatives thinks oppositely.

357 people voted ‘yes’ for a bill that prevents the U.S from getting out of NATO, while only 22 voted no.

The House also touched on other members’ problem of not paying properly to the Ally.

China bans Bing.com

MuhasebeNews — Thu, 24 Jan 2019 10:15:10 +0000

China bans Bing.comThere hasn’t been any announcements about the ban.

U.S based tech companies face bans in China frequently.

Popular platforms such as Facebook, Twitter and Youtube have been blocked for years through the Great Firewall, the censorship regime of the Chinese Government.

Microsoft is a member of the Internet Society of China, a government-related body whose members aim at sites that threaten the peace and security of the society and contain illegal content.

Microsoft has previously faced bans from China.

The government put a ban on Skype, a video and phone call platform, in November 2017.

What is happening to U.S economy?

MuhasebeNews — Wed, 23 Jan 2019 13:00:42 +0000

A growing number of economists estimate an economic recession in the U.S by the end of this year or in 2020.

Some economists are even concerned about a downturn.

In a survey conducted last year by Boston Consultancy Group including 260 professional money managers and analysts, one-third of the participants (73%) said they are expecting an economic recession within the 2-year period.

Just more than half of the investors (53%) were expecting a recession in 2017.

They are mostly concerned about market valuations and policies of the central bank.

Two thirds (64%) of bearish investors told that they are worried about current stock prices and 48% said they have concerns regarding the interest rate levels.

World’s largest retailers

MuhasebeNews — Wed, 23 Jan 2019 12:00:30 +0000

Audit and Consulting company Deloitte has announced its 21st Global Powers of Retailing report.

250 retail companies have made $4,53 trillion in the fiscal year of 2017, indicating a compound growth rate of 5,7%.

Companies individually made approximately $18,1 billion annually.

The report shows that U.S based Wal-Mart is the world’s largest retailer.

3 Turkish companies are also included in the list.

BIM Birlesik Magazalar A.S is the 150th largest retailer with a revenue of $6,8 billion, scaling up from $6,6 billion.

Migros Ticaret A.S became the 225th largest retailer with a revenue of $4,2 billion, $0,6 billion more than last year.

A101 Yeni Magazacılık A.S also entered the list from the 237th place with a revenue of $3,8 billion.

World’s Top 10 Largest Retailers

1 Wal-Mart Stores, Inc. USA 485,873

2 Costco Wholesale Corporations USA 118,719

3 The Kroger Co. USA 115,337

4 Schwarz Group Germany 99,256

5 Walgreens Boots Alliance, Inc. USA 97,058

6 Amazon.com, Inc. USA 94,665

7 The Home Depot, Inc. USA 94,595

8 Aldi Group Germany 84,923

9 Carrefour S.A. France 84,131

10 CVS Health Corporation USA 81,100

IMF cuts global growth outlook for 2019

MuhasebeNews — Tue, 22 Jan 2019 12:30:46 +0000

Chief economist Gita Gopinath announced the global growth estimations for 2019 in a press conference held on Monday.

Ms. Gopinath stated that world economy is slowing down and it will continue to do so as countries disagree on trade.

IMF estimates the growth outlook to increase by 3.5%, 0.2% below the estimation in October.

The main cause is the tariff increases between U.S and China.

Another reason is the possibility of Brexit without an agreement.

CEO’s are concerned about economic slowdown

MuhasebeNews — Tue, 22 Jan 2019 12:00:37 +0000

CEO’s are concerned about the economic slowdown

Consulting firm PwC published a survey regarding global growth estimations of 2019, symbolizing the start of Davos.

The survey shows that the number of CEO’s expecting a slowdown in 2019 in global growth has increased drastically.

CEO’s in North America approach more negatively to global growth in 2019, increasing to 63% from 37%.

PwC thinks Trump’s tax deductions and the ongoing tension in trade relations might be the cause.

As a result, CEO’s are feeling more and more insecure in launching short-term projects.

Among the CEO’s that took the survey. 35% said they think optimistically about their company’s growth within the next 12 months, decreasing from 42% in 2018.

The survey revealed that while still the top international market, CEO’s have started to turn towards different markets.

The trade war between China and U.S have caused only 17% of the CEO’s to choose The U.S, decreasing from 59% in 2018.

More than half of the CEO’s in the UK, on the other hand, are expecting a rise in their headcount despite Brexit uncertainty.

82% of the executives in the UK are expecting to expand their business within the next 12 months.

Retirement ages by country

MuhasebeNews — Tue, 22 Jan 2019 11:00:00 +0000

Tradingeconomics.com published a report showing the retirement ages by country based on actual data.

Turkey is among the countries that has the earliest retirement age, while Greece has the oldest.

Retirement Ages in Europe

	MEN	WOMEN
Greece	67	67
Italy	66 years 7 months	66 years 7 months
Portugal	66 years 4 months	66 years 4 months
Ireland	66 years	66 years
Netherlands	66 years	66 years
Germany	65 years 7 months	65 years 7 months
Spain	65 years 6 months	65 years 6 months
England	65 years	64 years
Austria	65 years	60 years
Belgium	65 years	65 years
Denmark	65 years	65 years
Poland	65 years	60 years
Switzerland	65 years	65 years
Russia	65 years	60 years
Bulgaria	64 years 1 months	61 years 2 months
Finland	63 years 3 months	63 years 3 months
France	62 years	62 years
Norway	62 years	62 years
Sweden	61 years	61 years
Turkey	60 years	58 years
Ukraine	60 years	57 years
European Union	64 years 73 days

Donald Trump is not attending Davos

MuhasebeNews — Fri, 18 Jan 2019 09:00:20 +0000

White House press secretary Sarah Sanders made a statement on Davos summit to be held in Switzerland this year.

It was stated that U.S President Donald Trump won’t attend the summit because of partial government shutdown and furloughed workers.

The federal has been closed for two weeks because of disagreements on financing Trump’s border wall plan.