Iran moves up 6 ranks in Human Development Index in a single year: UNDP TEHRAN - According to the 2015 Human Development Report (HDR), the Islamic Republic of Iran's Human Development Index (HDI) value for 2014 is currently 0.766.

The country's purchasing power with the rest of the world has fallen for the second quarter in a row. The fall in price of exports is greater than the fall in price on imports

Russia and Israel are planning to ink a free trade agreement in the very near future, a Kremlin official is quoted as telling the Russian news agency TASS on Friday. According to Russia's deputy agriculture minister, Sergey Levin, discussions on the matter with his Israeli counterparts have progressed to the point where an agreement is expected to be reached.

India's central bank kept its key lending rate unchanged on Tuesday, leaving the door open for more easing but making that dependent on meeting a challenging inflation target f‎or 2017.

We thought Abenomics was supposed to help the Japanese economy grow, not shrink. Japan on Monday reported that its economy contracted in the quarter ended Sept. 30, pushing the nation into its second recession since Prime Minister Shinzo Abe took office in December 2012 and its fourth technical recession in five years.

Consumers are upbeat about the economy and their future income prospects, according to the University of Michigan's latest survey. The preliminary headline consumer sentiment index for November was 93.1. Economists had estimated a rise to 91.5 from 90, according to Bloomberg. This increase is likely to become evident in higher consumption, which will shift the AD curve right, thus increasing short term aggregate supply.

The left wing want to do "a Greece" to get back on track. They refuse to conform with the austrity demands of the EU, and want to get the country back on track by national measures, like reversing privatization. The political instability leads to lower investment and Portugal is warned that it might risk going the way Greece did.

With the lower prices less oil production falls. The lower prices also leads to less capital into the market and smaller companies with loans will struggle to pay back due to less revenue and profit. Some may have to declare bankruptcy. It is almost impossible to increase prices, because then other firms will offer cheaper oil and win your customers. The PED of oil is close to infinity and the XED between the oil of two different companies are a very high positive value

The head of a US pharmaceutical company has defended his company's decision to raise the price of a 62-year-old medication used by Aids patients by over 5,000%. Turing Pharmaceuticals acquired the rights to Daraprim in August. CEO Martin Shkreli has said that the company will use the money it makes from sales to research new treatments. The question here is whether it is morally defendable to increase revenue by increasing prices to an amount poor people cannot afford. He says the extra money will go to research, but is it worth making the medicine too expensive for poor people?