Opinion

Say it ain’t so, Doug. From 2009 to early 2015, Douglas Elmendorf was the widely respected director of the Congressional Budget Office, where he repeatedly warned lawmakers that chronic deficits are unsustainable, pose long-term dangers — and that shrinking them sooner rather than later would make the task easier. Now, economist Elmendorf, who has become dean of the Kennedy School …

Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made a pertinent point when she described tax as “the lifeblood of modern states”. Addressing finance ministers at the recent Arab Fiscal Forum in Abu Dhabi, she drove home the idea of introducing Value Added Tax (VAT) to shore up GCC economies. Her call for the Gulf states to introduce …

Call it the new normal for European bank earnings. Standard Chartered shares plunged by the most in more than three years on Tuesday after the bank posted a “surprise” 2015 pretax loss of $1.5 billion, somewhat different from the $1.37 billion average profit estimate from 20 analysts. On Monday, HSBC delivered a “surprise” fourth-quarter pretax loss of $858 million, rather …

Four years into the Obama administration’s “Asia-Pacific Rebalance” and on the eve of a tumultuous national election, questions about the coming consistency of U.S. foreign policy are at the forefront of every policymaker’s mind. Yet even without these disruptive factors, there is one area in which the United States should continue to provide coordination, collaboration, and commitment with allies and …

Last November, in a bid to internationalize its currency, China’s yuan was successfully admitted to the International Monetary Fund’s Special Drawing Rights (SDR) basket of reserve currencies, joining the Euro, the US dollar, Japanese yen and British sterling in the cohort of elite currencies. The yuan’s ascension is an economic milestone for China and a political victory for the world’s …

Mobile World Congress 2016 has given us a glimpse into the innovations that will hit our stores this year. From the looks of things we will get much more than just thinner handsets. Many phone manufacturers have flooded the event with gadgets and accessories that can be bundled with phones. These include virtual reality headsets, 360-degree cameras, and a digital …

The countdown to Britain’s EU referendum has started. Prime Minister David Cameron has secured some important concessions from his European counterparts. This is all very welcome, but deal or no deal I would have argued for Britain to stay in Europe. I became involved in the Britain Stronger in Europe campaign —comprised of organizations and individuals that favour Britain remaining …

Little noticed amid the daily news bulletins about the IS and Syria, the Pentagon has begun a push for exotic new weapons that can deter Russia and China. Pentagon officials have started talking openly about using the latest tools of artificial intelligence and machine learning to create robot weapons, “human-machine teams” and enhanced, super-powered soldiers. It may sound like science …

The dispute between Apple and the Federal Bureau of Investigation (FBI) has rattled everyone, and spawned a raging National Security vs Consumer Privacy debate. Though the row is in the US, it has captured global attention, as the world is caught up in a suspension, waiting which party will win. The standoff has a bearing on the public. According to …

China’s foreign trade shrank by 8 percent in 2015, far off the target of 6 percent growth set at the beginning of the year, China’s commerce minister revealed on Tuesday. Gao Hucheng made the announcement in a press conference on China’s trade development last year. According to Gao’s figures, most of the decline came from rapidly slowing imports. China’s exports …