Category: World
” Day
Nov 11, 2015 (LBO) – Alibaba, the world’s largest online shopping website has made a record 3.9 billion dollars in sales in the first hour of Singles’ Day in China, foreign media reports said. Alibaba reported that shoppers spent about one billion US dollars in the first eight minutes and had clocked five billion after […]
Suu Kyi set to win majority in Myanmar election
Nov 11, 2015 (LBO) – Aung San Suu Kyi’s opposition is set to win a majority in Myanmar’s first free election in decades, although it is unclear if the party will secure the required two-thirds to appoint the next president by itself, media reports said.Suu Kyi’s National League for Democracy (NLD) is expected to secure […]
Over 60 pct of World Economies Improved Business Rules: WB
Oct 28, 2015 (LBO) – Developing economies quickened the pace of their business reforms during the last 12 months to make it easier for local businesses to start and operate, says the World Bank Group’s annual ease of doing business measurement. “A modern economy cannot function without regulation and, at the same time, it can […]
Blog: Capitalism does not self correct towards equality, says Bill Gates
Oct 27, 2015 – (LBO) – Bill Gates, in a recent blog, reviewing Thomas Piketty’s book Capital in the Twenty-First Century, says capitalism does not self correct towards equality — a review that sounds remarkably socialist in orientation. He agrees with Piketty that: 1) High levels of inequality are a problem—messing up economic incentives, tilting […]
Alibaba founder Jack Ma appointed business adviser to David Cameron
Oct 20, 2015 (LBO) – China’s business tycoon Alibaba founder Jack Ma, has been appointed as the adviser to British Prime Minister David Cameron, Cameron’s spokeswoman said. “Ma will provide particular help and advice on how to get small- and medium-sized British businesses boosting their exports and in particular accessing Chinese markets through platforms like […]
China slowdown, foreign funding risks intensify for APAC economies: Fitch
Oct 19, 2015 (LBO) – Macroeconomic risks to the Asia-Pacific (APAC) region have intensified with Fed tightening cycle and a protracted China slowdown, Fitch ratings said in a statement. “A sharper-than-expected slowdown in China’s economy is likely to have broad-based negative implications for global and regional issuers,” the latest edition of Fitch Ratings APAC Risk Radar […]
‘s drone assassination program
Oct 16, 2015 (LBO) – Amnesty International has called the US Congress to hold an immediate independent inquiry into the Obama administration’s drone strikes overseas following a series of leaks disclosing long-standing secrets of the global killing programme.“The Drone Papers,” leaked by an anonymous whistle-blower to the online media outlet The Intercept, reveal the startling […]
US budget deficit drops to 2.5-pct in 2015; lowest since 2007
Oct 16, 2015 (LBO) – The United States Treasury Department on Thursday said country’s budget deficit has dropped to 2.5 percent of GDP in 2015, the lowest since 2007 and less than the average of the last 40 years.Year-end data from the September 2015 Monthly Treasury Statement of Receipts and Outlays of the United States […]
US economic expansion modest in past two months: Federal Reserve
Oct 15, 2015 (LBO) – The United States experienced a continued modest expansion in the past two months, releasing its district report yesterday, the US Federal Reserve said.Commonly known as the Beige Book, the report is published eight times per year and each Federal Reserve Bank gathers information on current economic conditions in its District […]
World Bank says youth unemployment needs urgent global action
Oct 14, 2015 (LBO) – World Bank says reversing the youth employment crisis is a pressing global priority and the socio-economic cost of inaction is high. “Young people account for 40 percent of the world’s population – the largest youth generation in human history – but they are disproportionately affected by unemployment. This is a […]
Angus Deaton wins Nobel prize for consumption, welfare economics
Oct 13, 2015 (LBO) – The prize in economic sciences in memory of Alfred Nobel for 2015 has been awarded to Angus Deaton of Princeton University for his analysis of consumption, poverty, and welfare. Angus Deaton enhanced the understanding in design of economic policy that promotes welfare and reduces poverty, the royal Swedish Academy of […]
Gold prices hit seven week high with USD at near 3-week low
Oct 12, 2015 (LBO) – Gold prices rose to a seven-week high on Monday with expectations that the Federal Reserve will postpone an expected U.S. interest rate hike, foreign media reports said. Spot gold was last at 1,165.8/1,166.2 US dollars per ounce, up 10.1 US dollars on Friday’s close.Trade has ranged from 1,155 to 1,166.8 US […]