The formal opening of the BRICS Bank in Shanghai on Jul. 21 following the seventh summit of the world’s five leading emerging economies held recently in the Russian city of Ufa, demonstrates the speed with which an alternative global financial architecture is emerging.
It has been apparent for some time that we are in the midst of a historic shift of the centre of gravity of the global economy from the trans-Atlantic to what is now becoming known as the Indo-Pacific.
This month’s World Economic Outlook released
by the International Monetary Fund (IMF) only confirms that consequences of the collapse of the financial system, which started six years ago, are serious. And they are accentuated by the aging of the population, not only in Europe but also in Asia, the slowing of productivity and weak private investment.
Even moderately well-informed analysts knew that the Brazilian economy was in dire straits as President Dilma Rousseff initiated her second term in office in January.
Driven by solar and wind, world investments in renewable energy reversed a two-year dip last year, brushing aside the challenge from sharply lower oil prices and registering a 17 percent leap over the previous year to stand at 270 billion dollars.
The visit to Cuba of Federica Mogherini, High Representative of the European Union for Foreign Affairs and Security Policy on Mar. 23-24, and the forthcoming visit in May planned by French President François Hollande, have fast-tracked the agenda of relations between the European Union and Cuba.
At the same time as the United States, Canada and the European Union announced a set of new sanctions against Russia in mid-December last year, Ukraine received 350 million dollars in U.S. military aid, coming on top of a one billion dollar aid package
approved by the U.S. Congress in March 2014.
The inclusive and sustainable industrial development (ISID) initiative of the U.N. Industrial Development Organisation to promote industrial development for poverty reduction, inclusive globalisation and environmental sustainability is gaining momentum in the countries of the African, Caribbean and Pacific (ACP) group.
As the international community wades into the political discussions regarding the alternatives to the Millennium Development Goals (MDGs) after 2015 and the design of the Sustainable Development Goals (SDGs) as mandated by the Rio+20 conference, it is timely to consider the question of whether development is a matter mostly of individual effort on the part of nation-states or whether there are elements in the international economic system that could serve as significant obstacles to national development efforts.
The new European Commission looks more like an experiment in balancing opposite forces than an institution that is run by some kind of governance. It will probably end up being paralysed by internal conflicts, which is the last thing it needs.
For 22-year-old Moselyn Muchena, a final year computer science student at the University of Zimbabwe, it seemed obvious to create a mobile application offering easy access to services in the local catering industry, largely because of the huge number of female entrepreneurs in that sector.
Malawi has opened up negotiations on the economic partnership agreement (EPA) with the European Union, which have been deadlocked since 2002.
The World Bank has rejected a call to suspend its involvement in large scale agricultural land acquisition following the release of a major report by the international aid agency Oxfam on the negative impact of international land speculation in developing countries.
Almost a decade since Uganda initiated negotiations with China for the favourable export of coffee beans to the Asian giant, it is struggling to create even trade relations with the world's second-biggest economy. But economic experts predict that the East African nation could close the gap through the promotion of agriculture and the eventual export of oil.
Yacouba Coulibaly was pursuing a doctorate in education at Cocody University in Abidjan before Côte d’Ivoire’s post-election violence started in 2010. But his classes were routinely disrupted by armed members of a powerful student federation that wished to hold meetings instead.