Demagaga

A currency that is neither tied to a natural resource nor controlled by any central authority, bitcoins represent a unique manifestation of the dynamic changes the internet and the connected international culture it has spawned bring to the world of economics and global commerce. As covered previously here on Demagaga, bitcoins can be used to [...]

Read the full story

The board of the IMF expressed its confidence in Managing Director Christine Lagarde after the launch of a French inquiry into alleged abuses of power. Ms. Lagarde took over the IMF in 2011 and her office denies any wrongdoing. In 2007, Lagarde was involved in a dispute with French businessman Bernard Tapie and the bank [...]

Read the full story

Iran’s currency the rial has fallen 20% in value over the last two weeks in trade against the US dollar.   The devaluation indicates the Islamic Republic of Iran is increasingly struggling against international sanctions that have limited its ability to obtain foreign currency.   The sanctions placed on Iran are intended to reduce its [...]

Read the full story

After receiving a bailout of €750 million in 2008, SNS Reaal was thought to be profitable but its capital limits left it below legal solvency amounts, forcing the Dutch state to take a stake in the troubled financial concern.   The Netherlands’ Finance Minister Jeroen Dijsselbloem said the move was to insure financial stability, especially after [...]

Read the full story

In a report from Agence France Presse, Tendai Biti told reporters in Harare that Zimbabwe would have $217 remaining after it paid government workers, leaving the nation’s finances in a state of paralysis.   Zimbabwe had extraordinarily high levels of inflation in 2011 and 2012 which the IMF claims have only recently moderated at levels beneath [...]

Read the full story

Chinese computing giant Lenovo is considering purchasing Canadian smartphone handset maker RIM in a bid to join the burgeoning smartphone market.   The world’s second largest computer manufacturer by volume, Lenovo’s purchase of Research in Motion would give it an entrance into the lucrative smartphone segment in an effort to diversify its non-pc assets.   [...]

Read the full story

Japan’s economy had record high deficits during 2012 due to falling exports to Europe and China in a trade gap estimated at $78 billion.   Newly elected Liberal Democratic Prime Minister Shinzo Abe has proposed an aggressive round of stimulus spending to stoke the fires of economic development in the world’s third largest economy. The [...]

Read the full story

Firesale privatization of Greek State Assets Raises Concerns for Future of Greece, accusations of Corruption In order to repay its sovereign debts, the Greek government has placed everything from a police headquarters in Athens to leasing private beaches on the auction block to raise much-needed funds.  As part of its bailout of Greece, the International Monetary Fund [...]

Read the full story

It isn’t hard to argue that South Korean chaebol Samsung is a dominant force in electronics: In spite of litigation with US-based giant Apple, Samsung’s annual operating profit was 85.8% higher in 2012 than in 2011 with record sales of smart phone handsets making Samsung’s market capitalization equal to the next 9 Korean companies underneath it combined. Nonetheless, [...]

Read the full story

An error by the Bank of Canada in the design of its new 20 dollar bills made from plastic has placed the Norwegian maple leaf, and not the native sugar maple leaf that is on Canada’s national flag, on its currency. The mistake was spotted by an observant Canadian botanist, Sean Blaney, of the Atlantic [...]

Read the full story