Tokyo resumes its place as world's most expensive cityFebruary 5, 2013 - 21:53 AMT PanARMENIAN.Net - After currency swings pushed Zurich to the top of the ranking last year, Tokyo has resumed its place as the world's most expensive city, according to the Economist Intelligence Unit's new report of "cost of living 2013", The Nation reports. This is a familiar position for the Japanese capital, which has been the world's most expensive city for all but a handful of the last 20 years. In fact, since 1992 Tokyo has been the topranking city in every year bar six. Only Zurich, Paris and Oslo were dubbed the world's most expensive city during this time. This comes despite a fall in the relative cost of living in Tokyo (against the base city of New York) due to Japanese deflation, a weaker yen and rising prices elsewhere in the world. In Switzerland, efforts to weaken the franc meant that the relative fall in Zurich and Geneva was much stronger. In fact, relative to New York, the two Swiss cities saw the steepest declines of all 131 cities surveyed. Zurich experienced an index decline of 39 percentage points, falling from the world's most expensive city 12 months ago to its seventh most expensive now. A 33-percentage-point decline prompted Geneva to fall seven places to tenth place. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |