Category: World
100 day countdown to the international day of peace
Every year on the International Day of Peace, the United Nations calls on the peoples of the world to remember their common humanity and join together to build a future free of strife. It calls on all of us to observe a day of global ceasefire and non-violence, and to honour a cessation of hostilities […]
Russia cuts base rates by 50bps for first time in 12 months
June 13, 2016 (LBO) – Russia’s central bank has decided to cut the base rate by 50 basis points to 10.50 percent, the first rate cut since July last year, taking into account the positive trends in inflation. Releasing a statement, the Board of Directors of Bank of Russia noted the positive trends of more […]
South Korea cuts base rates by 25bps first time in 12 months
June 10, 2016 (LBO) – South Korea’s central bank yesterday decided to cut the base rate by 25 basis points to 1.25 percent amid risks to growth from domestic and international markets. Releasing a statement, the Monetary Policy Board said it will ensure the recovery of economic growth continues and consumer price inflation approaches the […]
India plans expanded missile export drive, with China on its mind
June 9 (Reuters) – India has stepped up efforts to sell an advanced cruise missile system to Vietnam and has at least 15 more markets in its sights, a push experts say reflects concerns in New Delhi about China’s growing military assertiveness. Selling the supersonic BrahMos missile, made by an Indo-Russian joint venture, would mark […]
Clinton seals Democratic US presidential nomination
June 07, 2016 (LBO) – Former New York Senator and US Secretary of State, Hillary Clinton, has obtained the number of delegates needed to seal the Democratic nomination for US presidential election. Clinton has secured the 2,383 delegates needed to become the Democratic Party nominee with the crucial victory in Puerto Rico at the weekend. […]
Global economies stuck in low growth trap, Policy makers need to keep promises: OECD
Jun 06, 2016 (LBO) – The global economy is stuck in a low-growth trap that will require more coordinated and comprehensive use of fiscal, monetary and structural policies to move to a higher growth path, the OECD’s latest economic outlook says. “Growth is flat in the advanced economies and has slowed in many of the emerging […]
Norway to ban all fuel-based cars by 2025
June 06, 2016 (LBO) – Norway will ban the sale of fossil fuel-based cars by 2025, with politicians from both sides agreeing that cars need to run on green energy, reports said. The report follows the announcement that Norway will become the first country in the world to commit to zero deforestation, the Independent reported. […]
Neoliberalism oversold? Inequality throttles growth, say IMF economists
June 02, 2016 (LBO) – Instead of delivering growth, some neoliberal policies increase inequality which in turn jeopardize sustainable development, three IMF economists say in a recent article. Neoliberalism refers to capitalism in its purest form where privatization, deregulation, and the “freeing of the market” are keys to a flourishing economy. The senior IMF economists […]
General Electric to change globalization strategy, localization key, says CEO
May 31, 2016 (LBO) – Jeffrey Immelt, CEO of General Electric, says the global manufacturer is gearing up for a bold pivot in its globalization strategy. This change is in response to rising protectionist political pressures and distrust of big companies, amid government and global institutions failing to address the world’s challenges. Although innovation has […]
Japanese PM to delay consumption tax hike; possible no-confidence
May 30, 2016 (LBO) – Japanese Prime Minister Shinzo Abe has met top executives of his Liberal Democratic Party to discuss the proposal to delay the scheduled April 2017 consumption tax hike. Japanese media reported that Vice-President Masahiko Komura, General Council Chairman Toshihiro Nikai, and Policy Research Council Chairman Tomomi Inada were among them. Shinzo […]
World Bank Launches Financing Facility to Protect Countries against Pandemics
SENDAI, Japan —The World Bank Group today launched the Pandemic Emergency Financing Facility (PEF), an innovative, fast-disbursing global financing mechanism designed to protect the world against deadly pandemics, which will create the first-ever insurance market for pandemic risk. Japan, which holds the G7 Presidency, committed the first $50 million in funding toward the new initiative. “Pandemics […]
India to turn Iranian port into transit hub bypassing Pakistan
May 24, 2016 (LBO) – India, Iran and Afghanistan have signed a tripartite agreement to turn the Iranian Chabahar port into a transit hub bypassing Pakistan, foreign media reported. The agreement will significantly increase the use of Chabahar port and connect India to Central Asia through Afghanistan and also provide Afghanistan access to India through […]