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NEWS - EMERGING MARKETS

NEWS - EMERGING MARKETS

Bank of Ghana criticised for funding budget deficit

June 13 ,2014 | by Sarah Parkin

Bank of Ghana criticised for funding budget deficit

Ghana’s central bank has attracted criticism for funding the government’s entire budget deficit.

Ghana’s central bank has drawn criticism from analysts by making the controversial decision to fund the government’s entire budget deficit.

Bloomberg reports that Bank of Ghana has confirmed it made use of its right to give a “short-term advance” to the government to make up the deficit. Grace Akofi, head of research at the central bank, told the source that the bailout became necessary due to “shortfalling government revenue”.

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Nigeria targets global oil leadership with OPEC secretary-general candidacy

June 12 ,2014 | by Hari Sri

Nigeria targets global oil leadership with OPEC secretary-general candidacy

Nigeria is working to consolidate its status at the head of the global oil market by pushing for its oil minister to lead Organisation of the Petroleum Exporting Countries (OPEC).

Nigeria recently overtook South Africa as the biggest economy in Africa, and Nigeria appears to be set on consolidating its position on the global stage.

Now, it appears the next step is to develop its reputation using its plentiful natural resources, as news has emerged the country is pushing its own oil minister for a leadership role in the world’s major oil organisation.

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India’s new government sets economic revival plan

June 11 ,2014 | by Hari Sri

India’s new government sets economic revival plan

India’s new government has announced a huge economic reform in a bid to bring fresh growth to the nation.

India’s economy has been failing to win over its critics of late. Although it has been growing fairly steadily, expansion below five per cent a year has not been enough to lift many citizens out of poverty and the country has been demanding more.

Manufacturing actually contracted in 2013-14, for the first time in more than 20 years.

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UK plans opening business centres across Pakistan

May 28 ,2014 | by Hari Sri

UK plans opening business centres across Pakistan

UK Trade and Investment (UKTI) has announced its plan to open a series of business centres across Pakistan in a bid to encourage trade.

The government has been trying to rebalance the UK economy in favour of manufacturing and exports to kickstart a fresh period of economic growth. Now, the body set up to encourage greater trade with foreign markets has taken another step towards closer trading links between the UK and Pakistan.

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Indian IT firms tap into Africa demand

May 14 ,2014 | by Sarah Parkin

Indian IT firms tap into Africa demand

Countries across Africa are seeing demand for technology rise, and Indian companies are making the most of the opportunities on offer.

Many of Africa’s key economies have huge growth potential, and an expanding base of businesses and consumers with money to spend has spurred a renewed wave of demand for technology.

Appropriately, other emerging economies are taking advantage of this rapid change – as reports from India’sEconomic Times demonstrate, some of India’s major technology firms are investing in operations across the continent.

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Malaysia set to become a ‘high-income nation’ by 2020

May 13 ,2014 | by Hari Sri

Malaysia set to become a ‘high-income nation’ by 2020

Malaysia’s government has said that its development goals are on track to become a high-income nation by 2020.

Malaysia’s goal to become a high-income nation by the start of the next decade is still looking achievable, according to a report published by the government on the progress of its Economic Transformation Programme (ETP).

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China plans 8000 mile high-speed rail link to USA

May 12 ,2014 | by Hari Sri

China plans 8000 mile high-speed rail link to USA

Reports have emerged that China could be considering plans to build a high-speed rail link that stretches as far as the US.

The world is getting smaller as new technologies and infrastructure are put in place. But it seems that one journey could become a reality that many had never considered – travelling from Beijing to the US without the aid of a ship or an aeroplane.

According to Beijing Times, Chinese officials are currently looking at plans for a massive high-speed rail link project that would begin in north-east China, then reach up through Siberia and through a 125-mile tunnel beneath the Bering Strait.

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Growth in Asia boosts demand for infrastructure

May 08 ,2014 | by Hari Sri

Growth in Asia boosts demand for infrastructure

Asian economies are growing fast and now they need the infrastructure to support their expansion.

Many of the world’s fastest-growing economies are located in Asia-Pacific. But as the region undergoes rapid development, demand for infrastructure to support continued expansion is reaching new heights.

These are the views of Ram Charan, an independent business adviser, who recently told Bloomberg that China will be home to at least 400 airports, while India will need a minimum of 100 additional facilities as growth continues.

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China to become world’s largest economy by purchasing power

April 30 ,2014 | by Hari Sri

China to become world’s largest economy by purchasing power

A century of US dominance could come to an end as China becomes the world’s largest economy.

China is set to become the world’s biggest economy this year, according to a new report, ending over a hundred years of US supremacy on the global stage. The figures from the UN International Comparison Programme (ICP), which is hosted by the World Bank, calculates the size of an economy in terms of purchasing power parity (PPP).

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Disney Asian Operations Exit to Cost Pakistan $200m

April 18 ,2014 | by Hari Sri

Disney Asian Operations Exit to Cost Pakistan $200m

Disney’s decision to decamp from Pakistan to India and China could cost Pakistan millions. Why has the decision been taken?

It may have been rumoured for several months, but now that Disney has gone through with its plans to pull all sourcing operations out of Pakistan, the country is concerned about the damage that has been done to its reputation and finances alike.

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China growth rate beats expectations despite slowdown

April 17 ,2014 | by Sarah Parkin

China growth rate beats expectations despite slowdown

China’s economy grew by 7.4 per cent in Q1 compared to the previous year, figures show. Though the country is experiencing a slowdown, it’s still beating expectations.

China’s growth rate has been the envy of developed economies around the world for years, but signs have emerged that it might be slowing down.

New figures show that the nation’s economy surpassed expectations and grew by 7.4 per cent year-on-year in the first quarter of the year. This is much higher than many Western economies – after all, the EY ITEM Club has forecast the UK will grow by 2.9 per cent

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IMF points to Pakistan economy surge

April 15 ,2014 | by Sarah Parkin

IMF points to Pakistan economy surge

Pakistan’s economy has surged forward in the past few months, according to a recent report from the International Monetary Fund (IMF)

Pakistan’s economic performance is often overshadowed by growth in other emerging markets, but the IMF has recently said that the country is very much on the rise.

According to The Nation, IMF Pakistan Mission Head Jeffery Franks told Private TV last week that the IMF is continuing to approve loans because it has seen the benefits of the Pakistan government. He said that the government seems “resolved to introduce economic reforms”, which are sorely needed if the country

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Thomson Reuters Explores Business Opportunities in Iran

April 14 ,2014 | by Hari Sri

Thomson Reuters Explores Business Opportunities in Iran

Thomson Reuters has said it is in talks with the Tehran Stock Exchange about potential opportunities in Iran. Is this a sign of change in the country’s relationship with the world?

Iran has been a thorny issue for Western powers in recent years, but as sanctions ease on the West Asian country, it seems that companies are becoming more interested in where it could take them.

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How Did Nigeria Become Africa’s Biggest Economy?

April 09 ,2014 | by Hari Sri

How Did Nigeria Become Africa’s Biggest Economy?

How did Nigeria nearly double the size of its economy last weekend?

Nigeria is often seen as a developing economy with lots of potential. It’s included in the unlikely combination of nations that make up the promising ‘MINT’ economies (Mexico, Indonesia, Nigeria and Turkey), but it has generally been thought it has much to do to catch up with Africa’s biggest economy, South Africa.

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After Bumpy Start to 2014, World Bank Cuts China Growth Forecast

April 08 ,2014 | by Sarah Parkin

After Bumpy Start to 2014, World Bank Cuts China Growth Forecast

The World Bank has cut its growth forecast for China, but has its “bumpy start to the year” really made that much difference?

China is the world’s second-largest economy and for many analysts, it has the potential to eventually overtake the US to take the top spot. But with years of rapid growth behind it, fears have been mounting for some time that growth will slow and eventually stop impressing the world. This week, in a new report, the World Bank has cut its growth forecast for China from 7.7 to 7.6 per cent over 2014.

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Where Now For The Indian Rupee?

March 27 ,2014 | by Hari Sri

Where Now For The Indian Rupee?

India’s currency has seen a rally in recent days, but Barclays is warning traders to beware. Where is the Indian rupee headed?

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Emerging Market Stocks Witness Strong Growth

March 26 ,2014 | by Hari Sri

Emerging Market Stocks Witness Strong Growth

Stocks in emerging markets such as Russia and Turkey have seen close to four days of consecutive gains. What has brought about the longest rise since October?

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