United Biscuits sold to Turkey’s Yildiz for £2bn
The UK company behind the McVitie’s, Jaffa Cakes and Penguin brands has been bought by Turkish food group Yildiz Holdings for a reported £2bn. United Biscuits (UB) was put up […]
US grows at annual rate of 3.5% in third quarter
The US economy grew at an annual rate of 3.5% in the July-September quarter, the Commerce Department has said. That was better than the 3% pace that economists had been expecting and follows the 4.6% growth rate recorded in the April-June quarter. Strong export growth and higher government spending helped to […]
Rediscover ‘Islamic principles’ to overcome economic challenges [Khaleej Times, Dubai, United Arab Emirates :: ]
Dubai: Muslim countries need to concentrate on efforts to rediscover Islamic principles and promote regional cooperation in order to successfully overcome economic challenges. This was stated by Malaysian Minister of International Trade and Industry Mustapa Mohamed during a panel discussion at the 10th World Islamic Economic Forum in Dubai. Calling […]
GLOBAL FOOD CRISIS : WASHINGTON POST
THIS post and National Geography and several news releases including a FEMA effort to solicit cost and delivery of dried food from its supplies in unprecedented manner are clear alarms of world food crisis. Keep in mind: 1. The huge amount of pig farming and pork consumption. 2. Huge unnecessary […]
Loan Sharks and Financial Terrorism: The Wonga Payday Lending Experiment
By Binoy Kampmark Global Research, October 19, 2014 This business has been too focused on growth and cared more about the loan outcome than the customer outcome. Andy Haste, Wonga Chairman, The Guardian, Oct 16, 2014. Keeping people poor in a world of seedy abandonment. Borrowing at phenomenal rates. Loan […]
Africa: Worsening Climate Change Could Affect the Economy
allAfrica.com: The devastating effects of climate change are already being felt across the planet, including in Africa. The 2011 drought-induced famine in the Horn of Africa affected more than 10 million people, claimed 257,000 lives and cost over $1 billion in damages. The recent Africa Adaptation Gap report by the […]
Africa: China Slump to Be Bigger Than Expected, Threatening Millions in Africa
allafrica.com: China’s economy faces a slowdown in Gross Domestic Product (GDP) to between 2.4% and 5% next year, well below the current 7% IMF estimate, unless the government takes more decisive policy action – warns the Overseas Development Institute, the UK’s leading think-tank on development issues. The report Developing Countries and […]
Hong Kong unrest may shake world economy
USA Today: The protests in Hong Kong are not yet sparking fears that the region will become the next trouble spot for the global economy, but such concerns will grow if the conflict intensifies and ensnares China, economists say. READ MORE…
China’s Xi Jinping signs landmark deals on India visit
Source: BBC India and China have signed 12 agreements in Delhi, one of which will see China investing $20bn (£12.2bn) in India’s infrastructure over five years. At a news conference […]
China's Xi Jinping signs landmark deals on India visit
Source: BBC India and China have signed 12 agreements in Delhi, one of which will see China investing $20bn (£12.2bn) in India’s infrastructure over five years. At a news conference […]
Ebola could wreck W Africa economies, warns World Bank
BBC News: The Ebola outbreak could have a catastrophic impact on the economies of Guinea, Liberia and Sierra Leone, the World Bank says. The organisation says the economic impact of the virus could “grow eight-fold” in the “already fragile states”. However, it says the cost can be limited if the […]
Islamic finance: Searching for Sukuk
African governments are looking to sharia-compliant financial markets to attract investment from the Middle East. The trend is just gathering strength, and experts expect more funds to flow into infrastructure and other major projects. The latest wave of finance to reach African corporations and governments is coming from the Middle […]
China will overtake America to become world's biggest economy within a decade
Source: Mail online China will overtake America to become the world’s biggest economy in just 10 years, according to a report. The U.S. has been the world’s economic leader for […]
China will overtake America to become world’s biggest economy within a decade
Source: Mail online China will overtake America to become the world’s biggest economy in just 10 years, according to a report. The U.S. has been the world’s economic leader for […]
Corruption 'impoverishes and kills millions'
An estimated $1tn (£600bn) a year is being taken out of poor countries and millions of lives are lost because of corruption, according to campaigners. A report by the US-based anti-poverty organisation One says much of the progress made over the past two decades in tackling extreme poverty has been […]
Corruption ‘impoverishes and kills millions’
An estimated $1tn (£600bn) a year is being taken out of poor countries and millions of lives are lost because of corruption, according to campaigners. A report by the US-based anti-poverty organisation One says much of the progress made over the past two decades in tackling extreme poverty has been […]
Lesson From Old India: When an Economy Just Doesn’t Get Better
Source: NY Times Commentators have often compared the recent Great Recession of the United States and Europe to the Great Depression of the 1930s. In both cases, asset prices tumbled, financial systems […]
How Will Radical Islam Affect Development In Africa?
According to the AP, at the U.S.-Africa Leaders Summit on Tuesday U.S. President Barack Obama announced $14 Billion USD in investment commitments from U.S. companies including such heavyweights as General Electric, Marriott and IBM. Even with this massive announcement, former President Bill Clinton went out of his way to point […]
Israel's economy is soaring—why isn't it bringing peace?
Most of us have been taught that much of the world’s political instability and violence is rooted in economic problems and hardships. The argument often goes something like this: “If the people in country X could just get more jobs and hope for a prosperous future, then the terrorism/crime/unrest would […]
Israel’s economy is soaring—why isn’t it bringing peace?
Most of us have been taught that much of the world’s political instability and violence is rooted in economic problems and hardships. The argument often goes something like this: “If the people in country X could just get more jobs and hope for a prosperous future, then the terrorism/crime/unrest would […]