Economy Archives

Panama papers: Joint statement on waked organisations

International Finance DeskMay 10, 2016

by International Finance DeskMay 10, 2016

Regarding a ten-year investigation May 10, 2016: In light of the announcement made by the United States Department of Justice and the United States Department of the Treasury’s Office of Foreign Assets Control regarding a ten-year investigation of the waked organisations, Panama’s Attorney General, Banking Superintendent, and Securities Market Superintendent have issued the following statements...

Economy

Obama warns against Brexit

International Finance DeskApril 26, 2016

by International Finance DeskApril 26, 2016

Says it may take Britain a decade to strike a deal with the US April 26, 2016: Barack Obama, in possibly his last visit to the UK as US President, warned that it could take up to a decade for Britain to strike a deal with America if Brexit becomes a reality. At the end...

Economy

Panama and Japan reach $2.6 billion agreement to fund Panama Metro

International Finance DeskApril 22, 2016

by International Finance DeskApril 22, 2016

Project will benefit more than 500,000 people; represents first Japanese monorail in the Americas April 22, 2016: The Republic of Panama announced the signing of a historic agreement with the Government of Japan valued at PAB/USD $2.6 billion to fund the construction of Line 3 of Panama’s Metro, the largest project in Panama since the...

Economy

Dubai to host creative ideas, entrepreneurs at DAFZA

International Finance DeskApril 18, 2016

by International Finance DeskApril 18, 2016

The groundbreaking of first global incubator for innovation in Islamic economy took place on March 30 April 18, 2016: The International Centre of Islamic Economy headquartered at the Dubai Airport Freezone Authority (DAFZA) officially launched the digital portal of the ‘Oasis of Innovation in Islamic Economy’ concurrently with the groundbreaking of the first global oasis...

Economy

Why Saudi will not be comfortable with high oil price

International Finance DeskApril 18, 2016

by International Finance DeskApril 18, 2016

The reasons are the US shale industry, and the rise of Iran and Russia Suparna Goswami Bhattacharya April 18, 2016: Saudi Arabia finds itself in a strange position. That, it is not happy with low oil prices is understandable, but a price too high will also make the Kingdom uncomfortable. Strange as it may sound,...

Economy

IMF downgrades UK growth

International Finance DeskApril 13, 2016

by International Finance DeskApril 13, 2016

Impact of anxiety over Brexit IFM Correspondent April 13, 2016: The International Monetary Fund has cut its forecast for British economy from its previous 2.2% estimate to 1.9%, due to the uncertainty over Brexit. In its report titled ‘World Economic Outlook’, the IMF predicts that there will be a slight acceleration in growth this year,...

Economy

Investment agreement signed for TAPI pipeline

International Finance DeskApril 13, 2016

by International Finance DeskApril 13, 2016

It exemplifies ADB’s role in promoting regional cooperation April 13, 2016: The shareholders of the TAPI Pipeline Company Limited (TPCL) signed an Investment Agreement in a ceremony witnessed by petroleum ministers and senior government officials of Turkmenistan, Afghanistan, Pakistan and India, and senior Asian Development Bank (ADB) officials. It will pave the way for long-term...

Economy

M&A deals flow in Brazil

International Finance DeskApril 8, 2016

by International Finance DeskApril 8, 2016

It could have been better if political situation in the country were stable Suparna Goswami Bhattacharya April 8, 2016: The unending corruption scandal that has mired the political parties in Brazil has hurt its global image. At least that is what it seems from various rating agencies’ outlook towards Brazil. From Moody’s, Standard & Poor...

Economy

Made in USA will make a big comeback

International Finance DeskApril 7, 2016

by International Finance DeskApril 7, 2016

Prediction is based on in-depth analysis of survey responses from more than 500 CEOs and senior leaders around the world April 7, 2016: The United States is expected to become the most competitive manufacturing nation over the next five years, with the current leader, China, slipping into second position, according to the 2016 Global Manufacturing...

Economy

IMF gives a sharp reply to Greek Prime Minister

International Finance DeskApril 5, 2016

by International Finance DeskApril 5, 2016

Rubbishes claims that the Fund is pushing for a crisis in Greece IFM Correspondent April 5, 2016: Christine Lagarde, managing director, International Monetary Fund, in a letter to Prime Minister of Greece said that IMF is keeping a ‘good distance’ from an agreement that would allow for additional loans to Europe’s most indebted state. This...