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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

Brazil Raises Long-Term Rate for First Time Since 2003

By Rogerio Jelmayer SAO PAULO--Brazil's government economic team increased its long-term interest rate, the so-called TJLP, for the first time in more than a decade, underlining plans to improve the country's fiscal performance in the next years. Brazil's National Monetary ...

Rosneft Repays $7 Billion of TNK-BP Bridge Loan

By Andrey Ostroukh MOSCOW--Oil giant OAO Rosneft said on Monday it paid back $7 billion of a bridge loan it had taken to acquire TNK-BP, the largest foreign debt repayment by a Russian company since Western sanctions were imposed. Rosneft ...

Oil Prices Stage New Rally

By Georgi Kantchev Oil prices rose on Monday extending a rebound that started late last week, a trend analysts have attributed to traders closing short positions and looking for end-of-year bargains rather than a change in fundamentals. The price of ...