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Tag: countries

IMF’s Christine Lagarde praises the ‘courage’ of Arab countries undergoing economic reform

IMF’s Christine Lagarde praises the ‘courage’ of Arab countries undergoing economic reform

Finance
Changes in the world economy and the price of oil mean that many countries across the Arab world will need to undergo significant changes in order to survive, and those that are doing so should be praised, Christine Lagarde, the managing director of the International Monetary Fund (IMF) told CNBC."These countries have gone through a massive transition. Those that were exporting oil have clearly seen a big drop in their growth rates. But those economies have to transition from an oil-fed economy to a more diversified, more inclusive, reformed economy," Lagarde said at the World Government Summit in Dubai.Some countries are ahead of the game, she described, while others are working on reforms. "But certainly we will be seeing different countries in a few years' time, given where the price of...
North Korea will send Olympic team to South as countries hold high-level talks

North Korea will send Olympic team to South as countries hold high-level talks

World
Officials from North Korea accepted South Korea's offer and will send athletes to next month's Winter Olympics as the two sides began long-anticipated talks on Tuesday. North Korea agreed to send athletes, officials and reporters to the games, as well as its cheerleading group and taekwondo demonstration athletes. South Korea proposed the two countries march together in the Opening Ceremonies, a point which will be further debated Tuesday afternoon. In their opening statement, South Korea mentioned further denuclearization talks between the two countries, but the point was not acknowledged by North Korean officials in early discussions. "In addition, we proposed resuming temporary reunions of families separated by war and holding inter-Korean Red Cross talks to discuss this," Chun Hae-s...
UN: About 11 percent of drugs in poor countries are fake

UN: About 11 percent of drugs in poor countries are fake

Health
About 11 percent of medicines in developing countries are counterfeit and likely responsible for the deaths of tens of thousands of children from diseases like malaria and pneumonia every year, the World Health Organization said Tuesday. It's the first attempt by the U.N. health agency to assess the problem. Experts reviewed 100 studies involving more than 48,000 medicines. Drugs for treating malaria and bacterial infections accounted for nearly 65 percent of fake medicines. WHO's director-general said the problem mostly affects poor countries. Between 72,000 and 169,000 children may be dying from pneumonia every year after receiving bad drugs. Counterfeit medications might be responsible for an additional 116,000 deaths from malaria mostly in sub-Saharan Africa, according to scientists a...
WTO countries fret over Brexit plans

WTO countries fret over Brexit plans

Business
The UK and EU have formally set out plans for World Trade Organization commitments post-Brexit, but they have already been opposed by some countries.The issue is about how much of certain goods can be imported at reduced tariffs after Brexit. These quotas currently apply to imports anywhere in the EU.But seven nations, including the US and Canada, have already made it clear that they think plans to divide existing quotas will put them at a disadvantage.After Brexit, exporters of goods will need to know what access they can expect to the separate markets of the UK and EU. The dissenting nations object to proposals from London and Brussels about how they plan to handle access to their markets for about 100 mainly agricultural goods. They feel that proposals for dividing quotas for goods impo...
SBI to teach bankers from South East Asian countries

SBI to teach bankers from South East Asian countries

Finance
KOLKATA: State Bank of India is planning to throw open its new banking personnel training institute for employees of other banks in India and other South East Asian countries. The institute will impart leadership training to people in the mid-managemnet level and above with thrust on risk mitigation, banking regulation and technology. The focus will be on action-based and result-oriented research and capacity building, chairman Arundhati Bhattacharya said. Addressing the media after inaugurating the institute she said the economy may rebound in another couple of quarters and banks need recapitalization soon to participate in growth. "Plans are getting off the table with a number of infrastructure projects being tendered out. Growth should come in a quarter or two," Bhattacharya said. ...