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Economy in Oceania

  • OECD: global growth too weak to trim inequalities

    WORLD, 2017/06/20 THE small pick-up in world increase expected this year is not enough to trim inequalities around the world, the OECD said yesterday as it called on nations to launch reforms to remedy the situation. “We need a additional inclusive, rules-based globalization that works for all, centered on people’s well-being” said OECD chief Angel Gurria, as the body released updated economic forecasts. The Organisation for Economic Cooperation and Development, which provides analysis and policy advice to advanced economies, increased its estimate for world increase this year by two tenths of a % point to 3.5 % on a recovery in world trade, even if remains below the levels before the onset of the world economic crisis.

  • BRICS continues to drive global economy

    WORLD, 2017/06/20 BRICS will continue to be a increase engine of the world economy despite difficulties and challenges, Chinese Finance Minister Xiao Jie said Monday. "We firmly believe the economic condition of BRICS will be better under our joint effort," said Xiao in an interview on the sidelines of the second BRICS Finance Ministers and Central Bank Governors Conference. Slower-than-expected world economic recovery, policy uncertainties in developed nations, de-globalization and world protectionism caused a complex economic environment for BRICS, Xiao said.

  • Africa: World Bank Economic Outlook Puts Global Growth At 2.7 Percent

    WORLD, 2017/06/09 In a new development, the World Bank (WB) forecasts that world economic increase will strengthen to 2.7 % in 2017. This is as a result of improvements in manufacturing and trade, rising market confidence, and stabilising commodity prices in commodity-exporting emerging markets and developing economies. The new world development is good news for commodity exporting nations such as Uganda because it will result in increased earnings from commodity exports.

  • Global Growth Set to Strengthen to 2.7 percent as Outlook Brightens

    WORLD, 2017/06/09 The World Bank forecasts that world economic increase will strengthen to 2.7 % in 2017 as a pickup in manufacturing and trade, rising market confidence, and stabilizing commodity prices allow increase to resume in commodity-exporting emerging market and developing economies. According to the World Bank’s June 2017 World Economic Prospects, increase in advanced economies is expected to accelerate to 1.9 % in 2017, which will as well benefit the trading partners of these nations. World financing conditions remain favorable and commodity prices have stabilized. Against this improving international backdrop, increase in emerging market and developing economies as a whole will pick up to 4.1 % this year from 3.5 % in 2016.

  • OECD says global economic outlook has improved

    WORLD, 2017/06/09 The world economic outlook is doing better than it was, but has not from presently on improved sufficiently to make a material difference to people’s lives, the Organisation for Economic Co-operation and Development said on Wednesday in its twice yearly assessment of the world economy. The Paris-based international organisation has improved most of its forecasts but warned politicians against complacency because it thinks the improved increase outlook is temporary without signs from presently on of an development in underlying performance. Speaking to the Financial Times, Catherine Mann, chief economist of the OECD, said: “The world economic outlook is better, but we are concerned that policymakers will look at the broader-based cyclical upturn, become complacent and think that ‘our job is done’.”

  • Economic headwinds look set to revive African M&A

    EGYPT, 2017/05/07 Two-thousand and sixteen was relatively quiet for African banking markets on the merger and acquisition (M&A) front. In most of the continent’s larger economies, inclunding Nigeria and South Africa, major transaction announcements were absent despite the challenging economic conditions of recent times. Buy-ins to African banks from European and Middle Eastern players were as well low, according to data from Mergermarket. This contrasts sharply from 2015 at the same time as buyers from Norway, Kuwait and the UK all made significant acquisitions on the continent. These deals were complemented by several bold intra-regional transactions, inclunding Kenya’s Equity Group acquiring a stake in a microfinance provider in the Democratic Republic of the Congo and Morocco’s Banque Centrale Populaire buying a position in BIA Niger.

  • Economic headwinds look set to revive African M&A

    EGYPT, 2017/05/07 Two-thousand and sixteen was relatively quiet for African banking markets on the merger and acquisition (M&A) front. In most of the continent’s larger economies, inclunding Nigeria and South Africa, major transaction announcements were absent despite the challenging economic conditions of recent times. Buy-ins to African banks from European and Middle Eastern players were as well low, according to data from Mergermarket. This contrasts sharply from 2015 at the same time as buyers from Norway, Kuwait and the UK all made significant acquisitions on the continent. These deals were complemented by several bold intra-regional transactions, inclunding Kenya’s Equity Group acquiring a stake in a microfinance provider in the Democratic Republic of the Congo and Morocco’s Banque Centrale Populaire buying a position in BIA Niger.

  • World Bank president Jim Yong Kim at a news conference in Berlin.

    WORLD, 2017/04/15 Failure to meet the internet-inspired aspirations of people in poor nations runs the risk of creating the conditions for war, terrorism and increased migration, the president of the World Bank has warned. Speaking in London ahead of the Bank’s spring conference next week, Jim Yong Kim said an urgent development push was needed in order to meet the demands for a better life by those in developing nations, increasingly aware through their smartphones of how rich people lived. The Bank is particularly worried about recent low increase in Africa and Kim said official aid money should be used to turn the billions of dollars provided by western nations into trillions of dollars of investment from the private sector.

  • OECD Leading Index Rises Slightly In February

    WORLD, 2017/04/10 The Organization for Economic Co-operation and Development said the leading index rose slightly in February, signaling stable increase momentum in the region. The composite leading indicator rose to 100.1 in February from 100.0 in January. Increase is expected to gain momentum in the United States, Canada, and Germany. Despite uncertainty related to Brexit, the index continues to point to tentative signs of increase gaining momentum in the UK.

  • International Economic Week In Review: Good News Abounds

    WORLD, 2017/03/06 This week's news continued in a positive trend. All signs from the EU point to an uptick in in general activity. Canada continues to grow modestly but is still dealing with negative business investment . Japanese inflation was positive this month - a very welcome development for a country trying to undo decades of deflation. And finally, the UK continues to confound those (myself included) who predicted a post-Brexit recession. EU news continued its positive trend. Most significant were the Markit numbers: the composite reading was 56, a 70-month high. The service sector was as well near a 5-year high with a 55.5 reading. New orders and business activity increased, as did employment. Rising prices were the only negative. The manufacturing number rose .2 to 55.4; both production and new orders were higher. But like the service statement, prices were a problem, with some commodities described as "seller's markets". Unemployment was steady at 9.6%; loan increase and money both increased. Thanks to a 9.2% increase in energy prices, CPI rose 2% Y/Y. And while retail sales declined .1% M/M, they increased 1.2% Y/Y, which continues this data series' near 4-year continuous increase:
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