Global economy

‘Net is closing in on cybercriminals’ – Kaspersky Lab stands by INTERPOL

‘Net is closing in on cybercriminals’ – Kaspersky Lab stands by INTERPOL

With Russia’s leading information security company Kaspersky Lab’s onboard to provide Interpol intelligence on cybercrime worldwide, cyber criminals will likely find it increasingly hard to escape justice. Today the International Criminal Police Organization expects the Russian cyber security company to be a constant reliable consultant in investigating and preventing cybercrime in the global web. Earlier […]

Cypriot parliament approves ‘solidarity fund,’ allows capital controls

Cypriot parliament approves ‘solidarity fund,’ allows capital controls

In a bid to secure an EU bailout, the Cypriot parliament has adopted laws creating a “solidarity fund” to pool assets as the basis for an emergency bond issue and allowing the government to impose capital controls for the country’s banks. Nicosia introduced emergency legislation in the parliament late on Thursday to secure a bailout […]

Stop, thief! Run on ATMs in Cyprus as govt mulls savings tax

Stop, thief! Run on ATMs in Cyprus as govt mulls savings tax

Panic withdrawals hit Cyprus after officials announced bailout terms viewed as ‘robbery’ by the public, as the UK is reportedly ready to protect British depositors’ savings. The adage ‘the best way to rob a bank is to own a bank’ has perhaps never before held more truth than now. On Saturday, Cypriot deposit-holders got a […]

Silicon Valley mulls creation of floating colony in the Pacific

Silicon Valley mulls creation of floating colony in the Pacific

Two American entrepreneurs have made plans to build a floating colony in the Pacific Ocean, where they will bring the world’s most intelligent scientists that are unable to attain a visa to enter the US. The floating colony, which will consist of a large cruise ship parked 12 miles off the Californian coast, will host […]

Michigan takes over bankrupt Detroit

Michigan takes over bankrupt Detroit

The state of Michigan is taking over America’s poorest city and managing its finances. After years of decline, Detroit has reached a point that has finally prompted Gov. Rick Snyder to order an emergency state takeover of the bankrupt city. “There’s probably no city that’s more financially challenged in the entire United States,” Snyder said earlier […]