With "sharing economy" services like Uber, Blablacar and Airbnb spreading among consumers, state tax collectors risk experiencing a revenue pinch as these new collaborative players capture market share from traditional businesses.
The so-called "Uberisation" of commerce is both rising in volume and spreading across an ever-larger number of sectors -- ranging from apartment, car and power tool sharing to money lending and food services.Full Story
The large open plan office with staff behind sleek computers looks like any newly-started modern business.
But Ethiopia's first online restaurant delivery service, Deliver Addis, must contend with major hurdles that would stall many entrepreneurs in more developed nations.Full Story
Indonesian teacher Nina Ramadhaniah hopes for "blessings from Allah" by opening a sharia bank account -- the sort of pious customer the world's most-populous Muslim-majority country is praying for as it launches an Islamic finance drive.
Indonesia, Southeast Asia's biggest economy, has a Muslim population of around 225 million but this huge number of faithful has not translated into success for sharia banks, institutions required to do business in line with Islamic principles.Full Story
Moody's has maintained its deep junk "Caa3" credit rating for Greek government debt, but has upgraded its outlook following recent political breakthroughs.
"Moody's Investors Service has today confirmed Greece's government bond rating at Caa3 and changed the outlook to stable," the agency said in a statement issued Friday.Full Story
Russia agreed to resume gas supplies to Ukraine over the winter under a deal clinched late Friday with the European Union, capping months of difficult talks overshadowed by the Ukrainian conflict.
European Commission vice president for energy, Maros Sefcovic, told a press conference the preliminary deal was a "crucial step" to ensure Ukraine has gas supplies from October through March and that Europe receives onward deliveries.Full Story
Volkswagen's new boss began trying to pull the embattled carmaker out of the wreckage of a pollution test rigging scandal Saturday, as the United States and Switzerland banned the sale of the group's new diesel cars.
The 62-year-old former Porsche chief Matthias Mueller was tapped Friday to replace Martin Winterkorn, who resigned over stunning revelations by U.S. environmental authorities that the German carmaker had fitted some of its diesel cars with software capable of cheating environmental tests.Full Story
World leaders on Friday pledged to end extreme poverty in 15 years, launching an ambitious U.N. development agenda that sets priorities for trillions of dollars in spending.
Pope Francis welcomed the new global goals as an "important sign of hope" in his address to the U.N. General Assembly and urged leaders to deliver on their promise to transform the world by 2030.Full Story
Pope Francis urged a more humane global system that respects the poor and the environment, as he criticized the economic order, in an address to the United Nations on Friday.
The pontiff, whose reform-minded approach has won him a rousing global following even from non-believers, offered his vision of a better world on his latest stop of a U.S. tour that has brought thousands to the streets to welcome him.Full Story
German carmaker Volkswagen Friday named Matthias Mueller, head of its luxury sports car brand Porsche, as its new CEO tasked with steering it out of the wreckage of a pollution test rigging scandal.
Mueller, 62, will take over immediately, replacing Martin Winterkorn who stepped down two days earlier, said the head of the supervisory board, Berthold Huber, at the car maker’s headquarters in Wolfsburg, northern Germany.Full Story
Greece must "quickly implement" the terms of a tough EU bailout agreed in July, newly re-elected left-wing Prime Minister Alexis Tsipras said on Friday.
"We face the obligation to quickly implement what has been agreed," Tsipras told his new government's inaugural cabinet meeting.Full Story