India, Japan discuss defence ties, amid rising tension in region
The Dollar Business Bureau Amidst increasing tensions in the Asian region, India and Japan are having discussions to strengthen military partnership. Arun Jaitley, Defence Minister of India conveyed to the Japan’s Defence Minister, Tomomi Inada, on Monday that India hopes to follow a strategic cooperation with Japan for stability and peace in the region. Jaitley’s visit to Tokyo comes at a time when tensions are rising in the region that includes territorial conflict in the South China Sea and threats of missile and nuclear threats from North Korea. The Indian Defence Minister welcomed a trilateral naval exercise planned with India, Japan and the US in July as a way to strengthen cooperation in the Asia-Pacific region. “This is all reflective of the level of cooperation ...
UNESCAP pitches for domestic reforms in Asia-Pacific region
The Dollar Business Bureau The developing economies in the Asia-Pacific region continue to fare well in comparison to the rest of the world, however, the region’s developing countries will witness only a slight growth in 2015, with no significant change expected in 2016. This was stated by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in its macro-economic outlook report released on Thursday. Stating that the structural weakness constrains growth prospects in the region, the report noted that the growth potential of the developing economies in the region is being held back by the infrastructure shortages and the excessive commodity dependence on some countries. The fragile global economic recovery and consequently subdued global trade ...
Asia Pacific region to be the growth engine for the world economy: FM
The Dollar Business Bureau In midst of the continuing global economic vicissitude, the Asia-Pacific region appears to be the functional ‘growth engine’ for the world economy. Asian Development Outlook 2015 estimates Asia to grow at 6.3% in 2015 and 2016, said Union Finance Minister, Arun Jaitley at the first business session of the 48th Annual Meeting of the Asian Development Bank (ADB) at Baku, Azerbaijan on May 4, 2015. The Finance Minister said, “We are meeting at a time when the global economy is looking slightly better than 2014 but not by much. Global growth in 2014 was lower than initially expected – continuing the pattern of disappointing outturns as seen in earlier years. Beneath the headline numbers, increasingly divergent trends ...
