Recently, the European Commission traveled throughout the Baltic Countries, which include Lithuania, Latvia, and Estonia, to promote the European Union’s plan for Rail Baltica. This project plans to connect the three capitals of the Baltic countries with a high speed train and cut the travel time to about four hours. Despite the promotion by the EU, there are still many headwinds that this project faces.
globalEDGE Blog - Page 188
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Today begins our blog series featuring the Baltic states. The Baltic states consist of Estonia, Latvia and Lithuania. With the Kunda culture of the region dating back to almost 8,000 BC, the region has a rich history and distinct culture. Beginning in the twelfth century the region was bounded together by Hanseatic League that included almost the entire Baltic region and northern Germany. The goal was for the cities to band together for mercantile purposes. This included a legal structure of its own that governed the cities as well as armies to protect the interests of the members.
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The British bank HSBC recently came out with a study that looked at the best countries for expatriates, people residing in another country, to live in based on economic opportunities and quality of life. The study came out with some surprising results. Amongst the best countries for expats to live in include small rich countries, and amongst the worst are Western European countries. Although some of the countries have better qualities of life, many of these countries are not welcoming to foreigners.
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When travelers make their way to the airports this holiday season, they may begin to notice a major change in the infrastructure of the airline industry. The continual addition of ancillary fees, or fees incurred outside of ticket costs, is becoming a larger component revenue for major airlines. Due to the highly concentrated industry, George Hobica, founder of airfarewatchdog.com stated that airlines “have to differentiate themselves to compete.”
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A topic becoming more and more popular in the business realm today is the differences of Generation Y, otherwise referred to as Millennials, and the rest of the workforce. The needs, wants, and leadership styles of Generation Y are drastically different from earlier generations; this is causing a great shift in the way businesses operate around the world. Generation Y is the generation born between the 1980’s and early 2000’s. Millenials are currently working in the business world and will continue entering for years to come. It is vital for companies everywhere to learn and adapt in order to retain Generation Y employees.
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Within the European Union (EU), Poland stands as the union's coal-producing giant. Although the country suffered declining production rates during the global financial crisis, Poland's coal-mining sector has shown signs of recovery. More than 88 percent of Poland's electrical needs come from coal, and the mines at Belchatow are more than eight-and-a-half miles long, two miles wide, and have been measured to be the largest carbon emitter in Europe. Poland's coal industry produces 77 million tons of coal per year, making it the world's 10th largest coal producer. Due to the importance of Poland's coal mining industry, the Polish government has been increasingly active in blocking aggressive regulations by the EU to limit climate change.
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The number of tourists traveling to Beijing, China’s capital, in the first three quarters of this year has dropped by roughly 50%. The main reason cited for this drastic decrease in tourism is poor air quality. In 2010, it was reported that air pollution contributed to 1.2 million deaths in China. Additionally, China spends a staggering 6% of its annual GDP on health care costs, material damages, and premature deaths caused by air pollution. China must do something to combat this serious issue or risk losing more than just tourists.
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Pensions have become an increasingly talked about topic of late. With bankruptcies of cities, and most notably of Detroit, it is unsure whether people who worked their entire lives with the promise of a retirement will actually receive such. The trick with pensions is how does a company or city adequately plan for retirement costs decades into the future?
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Latin America has not had one of their best economic years. The International Monetary Fund has predicted a lower-than-average 2.7 percent growth in Latin America's total economies. This is not surprising, seeing as several factors such as poor trade, inflation, and slow economic growth are affecting many nations from this region in a rather devastating manner. Here is a closer look.
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Greenland’s government embraced a major policy change last week that could greatly impact the country itself, as well as its relationship with other major countries. On Thursday, legislators narrowly voted to allow for mining of radioactive substances and iron ore on the Arctic island. In a 15-14 vote, Greenland’s parliament lifted a ban on mining uranium and rare-earth minerals, a decision that could significantly change Greenland’s economy and role in international trade. In another move, parliament gave London Mining PLC a thirty year license to mine for iron ore in hopes that the project will bring jobs and investment to Greenland.