After the Soviet collapse: A globe redrawn Nov 10, 2009
Meanwhile, shortages created a crime-ridden black economy that, by some estimates, was worth as much as 30% of the real one, perhaps more. Even without the fall of the Berlin Wall, and under Mikhail Gorbachev s new management, the Soviet Union would have struggled in vain (Russia struggles still) to adapt this behemoth to the information age and the microchip. (The Economist)
Fundamental tips for investing in art Nov 1, 2009
The reason being that theres never been a domestic economy for antiquities in India and that it is perhaps the worlds biggest black economy. And while the priority for an investor should always be to buy good art, Sanjay recommends that if the buyer is patient then both moderns and contemporaries are good in the current market. (India Times)
Q&A: Camp migrants' rights Sep 23, 2009
Critically, anecdotal reports tend to show that migrants who arrive in these communities do so with the expectation of disappearing from view into the black economy. What role does enforcement place in deterring people. (BBC News -- Europe)
5 ways you and I help economy grow Aug 30, 2009
Five ways you and I help the black economy grow- ET Cetera-News By Industry-News-The Economic Times ... Five ways you and I help the black economy grow30 Aug 2009, 0634 hrs IST, Meenakshi Kumar & Insiya Amir, ET Bureau ... The black economy is currently estimated to be 50% of Indias gross domestic produce (GDP). (India Times)
India's PAN plan fails, black economy still thriving Aug 24, 2009
No flash in PAN: Black economy keeps flourishing - India - NEWS - The Times of India ... No flash in PAN: Black economy keeps flourishing ... NEW DELHI: Mandating the use of PAN (personal account number) for all high-value transactions was supposed to be an important way of plugging the black economy. (India Times, India)
Black economy keeps flourishing Aug 24, 2009
NEW DELHI: Mandating the use of PAN (personal account number) for all high-value transactions was supposed to be an important way of plugging the black economy ... Mandating the use of PAN for all high-value transactions was supposed to be an important way of plugging the black economy. (India Times)
A Visit to India's First Wal-Mart (a.k.a. Best Price) Aug 9, 2009
Kalia, the restaurateur, laughs at this: "In a country where half the economy is a black economy, how do they expect a shopkeeper to give checks and put all transactions on record?". MORE.. (Time.com)
Kyrgyzstan tacklesblack economy Jul 2, 2009
Kyrgyzstan tackles black economy By Asyl Osmonalieva ... The legislation, termed "an amnesty for undeclared taxes and customs duties and legalizing property", is designed to reduce the amount of business activity that takes place in the illegal or black economy ... Presenting the bill to parliament on June 10, the minister for economic development and trade, Akylbek Japarov, said its aim was to provide transparency, reduce the black economy, increase investment, incentivize enterprises to... (Asia Times Online)
Tunnels, Guns and Kimchi: North Koreas Quest for Dollars Part II Jun 24, 2009
Indeed, the restaurants are only one small part of North Koreas black economy the tunnel constructions mentioned in Part I, fake dollars, used cell phones, and other commodities being the other not to mention missile and nuclear technology. Yet with the global financial collapse as well as the depreciation of the South Korean Won, these restaurants have seen a significant drop in customers as a result of lower tourism and business travel. (YaleGlobal Online Magazine, CT)
Unemployment in Spain: Not working May 12, 2009
Spain is lucky that strong social networks (helped by the black economy) help to prevent civil unrest. The economy is in a double bind. (The Economist)
Breathing easier May 8, 2009
Many people who work in the informal or black economy saw their income vanish overnight. "I'm happy that I have work again," said Enrique Landeros, who sells tacos at one of Mexico City's metro stations. (BBC News -- Americas)
Newth Talks Tax: How do I put the pressure on HMRC? Apr 6, 2009
Having just read some news about a House of Commons Committee who have berated HMRC for not producing enough revenue from the black economy I despair. One of the targets mentioned was small businesses. (Accounting Web, UK)
The Hungarian prime minister: Gyurcsany goes Mar 28, 2009
Hungary remains hobbled by corruption (a cosy cartel, especially in local government, slices up European Union funds), a heavy burden of debt and a black economy that may account for one-fifth of GDP. Despite the crisis, a sense of unreality prevails. Nationalist intellectuals use the language of the 1930s to rail against foreign capital and cosmopolitan influences. (The Economist)
No end in sight Feb 18, 2009
An employee at the centre tells me that the IDPs who do find jobs generally work in the black economy. "Sometimes they find jobs, but sometimes they could wait weeks to find a job. Few people work in official and regular jobs," she says. (BBC News -- Europe)
United States of Argentina Feb 8, 2009
The more heavily the country was taxed and regulated, the more Argentines took their transactions off the books, creating a black economy on par with that of the old Soviet Union. In terms of paying their taxes, Argentines are about as faithful as the Italians to whom most have blood ties. (The American Conservative)
