from ArabianBusiness..By Andy SambidgeSeptember 19, 2014 Prospects for Gulf-based banks remain healthy for the next few years on the back of the region's strong economic performance, according to a new report by Standard & Poor's. The ratings agency said regional bank have shown healthy earnings growth over the last 18 months despite historically low interest rates. The report said banks in Gulf Cooperation Council (GCC) countries have experienced lower net interest margins, but improving asset quality and
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This month’s preferred reading is Cambodia: Entering a New Phase of Growth by Olaf Unteroberdoerster.
Cambodia is poised to join a new generation of Asian frontier economies transitioning from low-income to emerging-market. But the path to greater and more shared prosperity requires a solid foundation of sound macroeconomic policies, enabling new growth drivers, tackling a highly dollarized and fragmented financial system, and creating more fiscal policy space to help meet Cambodia's vast development needs. This book first takes a closer look at the key economic challenges Cambodia faces at the current juncture, highlighting Cambodia's structural and financial constraints to growth as well as shifting vulnerabilities as Asia rebalances. It then lays out how a strategy of fiscal and financial sector policies, from creating a fairer and more buoyant tax system to modernizing financial instruments, markets and supervision, can help mobilize the resources and tools needed for one of Asia's youngest and fastest-growing populations to enjoy more self-sustaining and inclusive growth.
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from Balkan Insight..By Marian Chiriac | BucharestSeptember 18, 2014 As Scotland goes to the polls in a historic vote on independence from the UK, Hungarians in Romania feel more inspired to demand autonomy. The party representing ethnic Hungarians in Romania has made public a bill asking for greater autonomy for regions in Transylvania where Hungarians are concentrated. The Democratic Union of Hungarians in Romania, UDMR, is backing a draft law asking for the creation of a autonomous region in
from The Jamestown Foundation..Publication: Eurasia Daily Monitor Volume: 11 Issue: 164By Vasili RukhadzeSeptember 18, 2014 On September 11, an apparently frustrated Georgian President Giorgi Margvelashvili announced that his visit to the United States to attend and address the annual session of the United Nations in New York City was deliberately thwarted by Georgian Prime Minister Irakli Garibashvili and his office. Instead, only Garibashvili would attend and address the UN General Assembly (Imedi TV, September 11). This announcement follows
from The Africa Report..By ReutersSeptember 18, 2014 Three Chinese firms led by Shanghai Electric Group are considering setting up a coal mine and a 1,200 MW thermal power station in western Zimbabwe, company officials said. Industries and households in the southern African country have endured electricity cuts for years because the state power utility produces only 1,100 MW of power, half the national demand. Under the deal, Shanghai Electric would partner Shenergy Co Ltd and Nan Jiang
from The Africa Report..September 18, 2014 Uganda is hoping to secure an $8 billion loan from China to build a railway network to revamp the country's transport infrastructure as it prepares to start oil production. As in other areas of Sub-Saharan Africa, China has become a major investor in Uganda. It has mostly channelled funds into roads, hydro power dams, fibre optic cable networks and other infrastructure, usually offering cheap loans. "This is a huge project and
from Your Middle East..By Bassam AounSeptember 3, 2014 Your Middle East's business expert, Bassam Aoun, guides you through the re-emerging construction boom in the Gulf. Some call it excessive spending, but isn't there a positive side as well? No stranger to mega-projects, Dubai's authorities have recently announced their plans to construct the world's first indoor city. This venture, named the Mall of the World, is set to become the largest shopping mall in the world, with a floor space
from African Arguments..By Alyson McGeeSeptember 18, 2014 The US Export-Import (ExIm) Bank has become the latest political football in Washington, as Democrats and Republicans argue over its value to the American economy. ExIm Bank is the US government's export credit agency, which provides American companies with trade financing, insurance, and loan guarantees. In doing so, it assumes some of the risk inherent in international business and facilitates a greater volume of US trade flows. ExIm's charter is
from The Daily Star (Lebanon)..By Rania El Gamal | ReutersSeptember 18, 2014 DUBAI: A lack of water threatens Iraq's plan to increase its oil output, become a leading regional producer and boost its faltering economy. A multibillion dollar seawater injection scheme designed to boost production from the giant export oil fields in Iraq's south is snarled up in red tape and acrimony. The seawater injection project is core to the development of the southern fields, which account
from The Cyprus Mail..By Constantinos PsillidesSeptember 18, 2014 European Union sanctions on Russia created additional concerns for Cyprus economy, President Nicos Anastasiades said on Thursday, assuring Russian businessmen that Cyprus was doing its best to deal with the financial crisis. The Russian food embargo has hurt Cyprus exports to the tune of around €13 million a year, according to data from the agriculture ministry. It affects mainly citrus farmers. Addressing a seminar on the future of
from Novinite.com (Sofia News Agency)..September 18, 2014 The European Bank for Reconstruction and Development (EBRD) has lowered its 2014 growth forecast for Bulgaria to 1.5%. In May, the EBRD predicted a GDP growth rate of 1.9% for Bulgaria for 2014. The EBRD has also predicted economic growth of 2% in 2015 for Bulgaria in its September 2014 report on the economic prospects in the Bank's countries of operations. In the report, the EBRD said it has downgraded the forecast for Bulgaria for this year mainly due to the political instability and the