WB says slow East Asia Pacific economic growth
The Dollar Busiess Bureau The World Bank on Monday trimmed economic growth prospects of developing East Asia and Pacific for the year 2016 and 2017, citing global risks such as volatile global financial markets, a mild growth in high-income economies, slowdown across developing markets, weak global trade, and further fall in commodity prices. The global institution, in its “East Asia Pacific Economic Update, April 2016” report, forecasted economic growth in East Asia and Pacific to fall modestly, from 6.5% in 2015-16 to 6.3% in 2016-17 and 6.2% in 2017-18. For China, as The World Bank projected, the growth will be relatively slower but more sustainable, at 6.7% in 2016-17 and 6.5% in 2017-18 from 6.9% in 2015-16. The Washington-based body, however, insisted the countries ...
Govt. vows to bring 97% FDI though automatic route: DIPP
The Dollar Business Bureau Government has taken a slew of initiatives to ease investment regulations in the highway sector and the results of these steps would be visible in the near future, says DIPP Secretary Amitab Kant The government aims to develop a level of self-governance to bring 97% of foreign direct investment (FDI) through an “automatic” route without requiring any bureaucratic approval, a senior government official said. “Following recent announcement of opening up 15 sectors for which Press Note has been issued today, India has thrown open 92% of the FDI route through automatic channel,” said Amitabh Kant, Secretary, Department of Industrial Policy and Promotion (DIPP). Inaugurating the 95th Annual Session of the Associated Chambers of Commerce and Industry ...
Increase in US monetary policy rate to affect capital flows in to developing economies in 2015: World Bank
The Dollar Business Bureau Developing countries face a series of tough challenges in 2015, thus resulting in fourth consecutive year of disappointing economic growth this year, says the World Bank Group. In its report titled Global Economic Prospects (GEP) 2015, the World Bank Group cited impact of looming monetary tightening cycle in the United States and consequences of low commodity prices as key confrontations being faced by policy makers across the world and especially in emerging economies and low-income countries. Looming prospects of higher borrowing costs are expected to be major challenges for developing nations as they adapt to a new era of low prices for oil and other key commodities. ‘An expected liftoff in the US interest rates will make ...
Weak commodity markets signal long-term easing of prices: World Bank
The Dollar Business Bureau Commodity prices are expected to stay weak for the entire year across the globe with southward movement of crude oil prices and precious metals in the first quarter, a latest report of the World Bank said. Global indices of commodities continued to fall in the first quarter of 2015 from the last quarter of 2014. As compared to the fourth quarter of 2014, the global food prices declined by 7.3%, crude oil 13% and metals 9% during the first three months of the current financial year. The quarterly report on the Commodity Markets Outlook, released on Wednesday, attributed the falling prices to “well-supplied markets” and “subdued demand due to weak global growth”. “Prices are expected ...
