Developing nations have become the main engine of growth: Xi
The Dollar Business Bureau China’s President Xi Jinping on Tuesday said that developing nations and emerging economies have become the engine of economic growth in the world and announced that China will give $500 million to support such countries. The announcement by the Chinese President was made at a meeting in which heads of BRICS, including Indian Prime Minister Narendra Modi, and leaders of Guinea, Egypt, Mexico, Thailand and Tajikistan participated. The meeting was organised on the sidelines of the ninth BRICS Summit under BRICS Plus initiative of China. “I wish to announce that China will provide $500 million for assistance fund for South-South Cooperation. The money will be used to help fellow developing countries to tackle famine, refugees, climate change, public ...
3.4 mn people to be added to the unemployed masses in 2017: ILO
The Dollar Business Bureau Unemployment rates are on the rise, especially in commodity exporting countries like Russia, Brazil and South Africa, the International Labour Organisation (ILO) said on Thursday, due to a slowdown in global growth, especially in developing nations like China, and decline in commodity prices. Due to uncertainty in the investment climate all over the world, driven by a new wave of protectionism and isolationism, employment rate is expected to contract as job creation suffers. Global trade and investment growth, after expanding annually at 6% from 1990 to 2011, fell to 2.7% over the period 2012-14. Despite growth in global savings, investment isn't flourishing. Guy Ryder, Director General at ILO, said that the rate of unemployment increased from 5.7% to 5.8% in 2017, citing deteriorating labour market conditions in emerging economies as the main contributor to the rise in unemployment. In 2017, ...
India ranks 2nd in ease of doing business: GRDI
The Dollar Business Bureau India has ranked second among 30 developing nations this year with regards to ease of doing business, a jump of 13 places from the last year, according to Global Retail Development Index. China topped the list. An improvement in the growth of Gross Domestic Products (GDP) and enhanced clarity with regards to FDI (Foreign Direct Investment) regulations have supported India to reach a second rank, as per the 2016 Global Retail Development Index (GRDI) that measures the top 30 developing nations for investment in the retail sector. "India's robust ranking shows that the increased optimism of international retailers in the country’s retail market and its huge growth potential," said Debashish Mukherjee, Partner, A T Kearney and co-head, ...
WTO talks enter 5th day;hectic parleys going on to end impasse
Source: PTI The WTO talks entered the fifth day on Saturday even though hectic parlays are on to bridge differences between developed and emerging economies on the issues on Doha Round, reducing farm subsidies and providing protection to poor farmers of developing nations such as India in case of import surge. The 10th WTO Ministerial was originally scheduled to end last night but developed and developing countries failed to iron out differences on these issues. "The meeting is still on since last night," sources said, adding that a small group of countries -- India, the US, EU, China and Brazil - are discussing the issues. The new draft on agriculture and Nairobi Ministerial is expected to be discussed in the ...
