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Germany's other migration wave: the pensioner exodusAs retirement neared a decade ago, German butcher Waldemar Hackstaetter took stock of his finances and concluded he and wife Hildegard couldn't afford to remain in their home country. "The month stretched further than our pension did (in Germany) and we didn't want to become a burden to our children," 78-year-old Waldemar said. Since they left, Germany's economy has prospered, drawing a steady flow of immigrants that peaked with over a million who crossed its borders at the invitation of Chancellor Angela Merkel during the refugee crisis of 2015.

1/16/2020 5:26:50 AM

China's Xi to tie up Belt and Road deals in 'historic' Myanmar visitChina's President Xi Jinping will visit Myanmar on Friday to ink massive infrastructure deals and extend influence in a neighbor whose ties with the West were frayed by accusations that it conducted genocidal policies against ethnic Rohingya Muslims. Making his first visit to the Southeast Asian country as leader, and the first of any Chinese president in 19 years, analysts say Xi will bid to revive stalled multi-billion-dollar infrastructure projects central to his flagship Belt and Road Initiative described as a "21st century Silk Road". The two countries have had a historically sometimes fraught relationship, with many in Myanmar suspicious of the tremendous sway China holds over its smaller neighbor.

1/16/2020 5:23:26 AM

Urkund, Leader in Plagiarism Prevention, Launches American SubsidiaryUrkund, a Swedish education technology firm with expertise in plagiarism prevention and text-similarity detection, announced today the launch of its North American operations, Ouriginal, Inc., based in Chesterfield, MO.

1/16/2020 5:22:00 AM

Turkey Slows Pace of Easing, Joins Negative Real-Rate Club(Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.Turkey’s central bank opted for the smallest interest-rate cut since embarking on its easing cycle under a new governor, as it balances demands for further easing from President Recep Tayyip Erdogan against the risk of a market backlash.The Monetary Policy Committee reduced its key rate on Thursday to 11.25% from 12% at this year’s first scheduled meeting. Its fifth straight decrease pushed the benchmark below zero, when adjusted for inflation. But with the latest move coming in below most forecasts, the lira appreciated after the decision and was trading 0.2% stronger at 5.8656 against the dollar as of 2:06 p.m. in Istanbul.“Considering all factors affecting the inflation outlook, the Committee decided to make a measured cut in the policy rate,” the central bank said in a statement. “At this point, the current monetary policy stance remains consistent with the projected disinflation path.”Despite the unprecedented scale of easing under Murat Uysal’s watch, the new governor hasn’t provoked investors into turning on Turkey while winning praise from Erdogan, who wants lower borrowing costs to rev up the economy.The president believes higher rates cause rather than prevent inflation. Most economists and central banks around the world believe the opposite to be true.While most analysts surveyed by Bloomberg predicted a cut, expectations ranged widely. The median forecast was for a decrease of 75 basis points. But for the first time since Uysal became governor in July, a sizable minority of economists predicted a hold, after 12 percentage points of easing in the second half of 2019.Erdogan’s government, which increased its target for growth to 5% for 2020-2022 after slashing last year’s forecast to near zero, is relying on cheaper credit to give the economy an extra kick. Emboldened by a more steady lira, the central bank has so far done its part, but the outlook is turning more tentative.Turkey’s annual inflation quickened for a second month in December to 11.8%, and policy makers only expect it to start decelerating toward single digits from the second quarter, before ending the year at 8.2%. Economists predict price growth will average around 10% or higher through the third quarter, according to another Bloomberg survey.Meanwhile, the Turkish lira is off to one of the best starts among the currencies of developing nations this year. It depreciated over 11% against the dollar in 2019, the worst performance in emerging markets after Argentina’s peso.It’s “a smart move” by the central bank to avoid surprising the market with another bigger-than-forecast cut, according to Piotr Matys, a strategist at Rabobank in London.“This is clearly positive for the lira,” he said. “But it doesn’t change our long-term bearish view as the Erdogan administration hasn’t made progress in implementing urgently required structural reforms.”(Updates with chart)\--With assistance from Harumi Ichikura and Barbara Sladkowska.To contact the reporter on this story: Cagan Koc in Istanbul at ckoc2@bloomberg.netTo contact the editors responsible for this story: Onur Ant at oant@bloomberg.net, Paul Abelsky, Amy TeibelFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

1/16/2020 5:27:45 AM

Advanced Visualization Technologies Improving Medical Imaging & Diagnosis, Worldwide, 2019 - Technology Snapshot, Impact Assessment & Analysis, Funding Assessment and Growth OpportunitiesThe "Advanced Visualization Technologies Improving Medical Imaging and Diagnosis" report has been added to ResearchAndMarkets.com's offering.

1/16/2020 5:15:00 AM
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