DEVELOPMENT: Economic Boom Worsened De-industrialisation of LDCs

Least developed countries (LDCs) in Africa did not use the commodity export boom of the mid-2000s to diversify their economies from commodity dependence to manufacturing value-added products. Significantly, the agricultural sector has also not benefited, with the result that LDC reliance on imported food has become even worse.

Strong as China, Fragile as Porcelain

In times of inflationary pressures the price of patriotism too goes up. The news that an 18th century Chinese porcelain vase sold for a record-breaking 68 million dollars at a London auction to a mainland China buyer this month did not go down well either with Chinese government regulators fretting about asset bubbles or with a Chinese public angry about income inequality.

Despite Setbacks, Africa Seen as Key Player in Future

As the international community commemorated Africa Industrialisation Day last week, United Nations officials expressed mixed emotions about a beleaguered continent plagued by a rash of political, economic and military crises.

Lisbon Armed to the Teeth for NATO Summit

Helicopter gunships patrolling the skies, missile launcher ships in the Tagus estuary, police with heavy machineguns and armoured cars deployed on the main streets of the Portuguese capital have created a warlike ambience in the city hosting the North Atlantic Treaty Organisation (NATO) Summit.

“Perfect Storm” Spurred 2007-08 Food Crisis, Study Says

Rising food prices have not yet reached crisis levels but they are expected to remain very volatile for about the next decade, researchers said Thursday.

EGYPT: Soaring Food Prices Squeeze Poor

Prices for most basic food commodities in Egypt have finally returned to earth - more or less - after soaring to unprecedented levels over the summer. But steadily rising food costs in recent years, along with the government's seeming disinclination to take effective steps to regulate the market, continue to be the source of mounting public anger.

ECONOMY: East Timor Extends a Hand to Troubled Portugal

With the announcement that his country is ready to buy Portuguese debt, the president of East Timor, José Ramos-Horta, set a precedent in international economic relations that was universally praised in political and financial circles in this southern European country.

G-20: Summit Shows Power Shift for Developing Economies

Currency and trade tensions may have grabbed the headlines from the two-day summit of the Group of 20 advanced and developed economies, but the bigger story is how the tables have turned and given developing countries a much stronger voice at the international negotiating table.

LABOUR-SWAZILAND: Jobs to be Cut to Secure International Loan

Thousands of public servants in Swaziland are due to lose their jobs in cutbacks as part of a government bid to gain approval from the International Monetary Fund for a loan. But some Swazis would rather see the budget slashed for the country’s autocratic royals.

G20: Heading Towards the End of Globalisation?

A "grave recession" in the world economy may lie ahead, with a profusion of new barriers to trade and capital flows, if the Group of 20 major economies (G20) fail to come up with solutions to the present crisis.

DEVELOPMENT: Currency Friction A Test of G-20 Mettle

South Korea’s leadership faces a serious test when it hosts a summit of the Group of 20 advanced and developing economies this month, amid a currency war that is straining relations among its members.

TRADE-SOUTHERN AFRICA: EPA Talks Will Miss Latest Deadline

While a trade deal between the European Union and Southern African countries is close it will not be concluded before the end of this year. In the meantime, South Africa remains in pursuit of an ambitious regional integration agenda.

FINANCE: Ahead of G-20 Summit, Capital Controls Gain New Currency

South Korea’s closing of ranks with Asian countries that have recently embraced capital controls signifies that such measures will be up for discussion at next week’s summit of the world’s 20 major economies in Seoul.

The G20 in Seoul – Summit or Abyss?

On Nov. 11, the Group of 20 (G20), representing the interests of countries who collectively produce over 85 percent of global wealth, will gather in Seoul, South Korea for its fifth summit.

GREECE: Chinese Turn Up, At the Right Time

The clichés of the China man in Greece are quickly unraveling. The cheap clothing trader and the small Chinese restaurant owner are still there. Chinese masseuses are still trawling the beaches in search for customers. This familiar crowd, though, is increasingly overtaken by throngs of picture-snapping and cash-dolling Chinese tourists.

Republicans Sweep U.S. House

Opposition Republicans have scored major victories in the country's midterm elections by taking control over the House of Representatives from the Democrats and scoring impressive gains in the Senate, which delivered a stinging blow to Barack Obama's presidency.

Foreclosure Mess Reveals Longstanding Problems

The discovery of apparent massive fraud in mortgage and foreclosure documents has called into question millions of pending foreclosures in the U.S. Several banks have enacted partial or complete moratoriums until the issues can be resolved.

U.S. Slides on Corruption Index

Iraq and Afghanistan rank near rock-bottom in an index of corruption in 178 countries that found that nearly three- quarters of the countries surveyed showed serious corruption problems.

Portugal’s Economy Headed Down a Dead-End Street?

"They are a heartache," admitted Portugal's Prime Minister José Sócrates about the draconian economic measures his government approved in a bid -- with dubious effectiveness -- to calm the financial markets and recover lost credibility.

‘Food Empires Creating Agricultural Crisis’

Forget speculators, forget biofuel farmers. The real cause behind the permanent food and agricultural crisis is the imperial food regime, squeezing money out of agriculture, a Dutch professor says.

U.N. to Focus on Poorest of the World’s Poor

The United Nations, which is planning to hold a major international conference on Least Developed Countries (LDCs) next year, has been put on notice: if the mounting social and economic problems of poorer nations are not resolved, "There will be no peace and stability in the world."