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Cost of Living Worldwide

Cost of Living Worldwide

The OECD defines a cost of living index (COLI) as an index that measures the change in the minimum expenditures that would be incurred by a utility-maximizing consumer, whose preferences or tastes remain unchanged, in order to maintaining a given level of utility (or standard of living or welfare).

The Poorest Countries in the World

There are two standard methods of measuring the wealth of countries and how rich or poor its inhabitants are. The measure most often used is Gross Domestic Product (GDP), which represents the size of a country’s economy. A refinement of ...

Awards & Rankings



Global Finance held its 11th annual Internet Banks Awards dinner in New York in November. Leading financial executives from around the world were present to accept their awards and honor other recipients.

From the Wires

Hong Kong Doesn't Find Evidence of Forex Rigging

HONG KONG--Hong Kong's de facto central bank on Friday said it found no evidence of collusion among banks in rigging benchmarks in the $5.3-trillion-a-day foreign-exchange market. The Hong Kong Monetary Authority, which carried out the probe as part of a ...

Canada Retail Sales Flat in October

By Nirmala Menon OTTAWA--Canadian monthly retail sales stalled in October as increased consumer spending on building materials, electronics and appliances and food, offset lower outlays on cars and gasoline. The value of sales was flat at 42.85 billion Canadian dollars ...

Belarus Slaps 30% Fee on Currency Exchanges

MINSK, Belarus (AP)--Belarus has imposed a 30% fee on any currency exchange transactions in an effort to contain any panic that has spilled over from neighboring Russia. The Belarusian National Bank announced Friday that it was imposing the fee for ...