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The Republican-led US Senate gave President Barack Obama a victory when it passed the Trade Promotion Authority bill, the so-called “fast-track” for the TPP.

According to a report by KKR, the BRICS have endured over the past 5 years some of the greatest absolute multiple compression as investors have become disillusioned with – among other things – excessive government intervention, declining returns, weakening currencies, and unorthodox monetary policy.

“The economy is (complicated) by both internal and external factors. At the same time, (…) a change in the ruble exchange rate enhances the competitiveness of Russian goods in terms of pricing, thereby opening up an opportunity to take over new niches both nationally and internationally,” said Russian President Vladimir Putin.

“The four installments for the IMF in June 2015 are $1.8 billion. This money will not be given and is not there to be given,” Greek Interior Minister Nikos Voutsis told.

While undervaluation of the Renminbi (Yuan) was a major factor causing the large imbalances in the past, the IMF’s assessment now is that the substantial real effective appreciation over the past year has brought the exchange rate to a level that is no longer undervalued.

Gaza’s economy is on the verge of collapse as youth unemployment remains the highest in the region at 60 percent, said a World Bank report.

Income inequality has reached record highs in most OECD countries and remains at even higher levels in many emerging economies.

The 34 Member countries of the OECD decided to renew Secretary-General Angel Gurría’s mandate at the helm of the organization for the period 2016-2021.

2014 was in many ways another year of profound change at the IOR (Istituto per le Opere di Religione, Vatican Bank) with net profit in 2014 rebounding to €69.3 million from €2.9 million in 2013.

US online distribution group Amazon told the AFP that it will now pay taxes in every European country where it is active. Now one may wonder to what extent previous years helped the group to prevent real competition from emerging.

Podemos, the Spanish version of anti-austerity party Greece’s Syriza, has given the Conservatives of Prime Minister Mariano Rajoy a tumble although it won in 11 out of 13 provinces. The left-wing coalition will now head cities like Madrid and Barcelona.

Our government cannot – and will notaccept a cure (austerity) that has proven itself over 5 long years to be worse than the disease,” wrote Finance Minister Yanis Varoufakis.

China’s government will cut import taxes on consumer goods by more than 50% on average in a bid to boost consumer spending.

China and Chile signed a host of cooperation deals on May 25, 2015 including a multi-billion US dollar currency swap pact.

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