Forecasting that India will clock the highest growth rate of 7-7.5% among G20 economies in 2015 and 2016, Moody’s Investors Service on Thursday said the country is less exposed to external shocks, and the positive rating outlook reflects resilient growth and reforms momentum.
“India is less exposed to global risks because of its more resilient economic growth and the impact of positive policy reforms momentum,” the rating agency said. Emerging market sovereigns have diverging shock-absorption capabilities to withstand the risks that will continue to impact global credit quality in 2015-16, says Moody’s in a report published on Thursday.
The report focuses on five Baa-rated sovereigns—Turkey, Brazil, South Africa, India and Indonesia. Read More
Namibian High Commissioner to New Delhi Pius Dunaiski said over the weekend that he wants India to assist the African country in building up a strong defence system. The seasoned diplomat told the media that he recently discussed various issues, including peace keeping and an efficient anti-terrorism arrangement, with the Indian officials ahead of the crucial summit.
Dunaiski stressed that he requested India to train the Namibian Army, Air Force and Navy officers on advanced techniques and facilities used by the defence forces of other countries. Acknowledging India’s important role in establishing the Namibian Air Force, he said that Windhoek not only bought the first helicopters from India, but also Read More
A vibrant India and a vibrant Africa will forge a partnership of equals whose roadmap for cooperation across political, economic and security spheres will be launched at the third Indo-Africa summit here on October 29, suggested Hatem Tageldin, Ambassador of Egypt, one of Delhi’s key and historical partners in the continent.
With several heads of state or governments including a top level political representative from Egypt set to visit India for the grand show this edition of the Summit will promote South-South cooperation between the developing countries many of whose economies are showing promises of growth, noted Tageldin with less than three weeks left for the Summit. Almost all Read More
Lieutenant Governor Najeeb Jung on Tuesday convened a meeting to review the preparedness of government agencies for the coming India Africa Forum Summit, which the Capital will host between October 26 and 29.
With the city currently in the throes of dengue, fumigation of hotels and venues connected to the event and plugging of pot holes in their vicinity, according to a senior government official, figured in Mr. Jung’s review, in addition to the setting up of a round-the-clock call centre for coordination.
Uninterrupted power supply and tight security at the venues as well as tourist spots were also discussed.
Law and order, traffic, health, cleanliness, sanitation, and Read More
EXECUTIVE SUMMARY
India and Africa: An Enduring Relationship for Mutual Prosperity Economic, Trade and Cultural Ties between Africa and India Even hundreds of years back Indian traders, using the seasonal monsoon winds, sailed to the east coast of Africa in search of mangrove poles, ivory, gold and gemstones. The exchange flourished for centuries and it is believed that Indian muslin was used in wrapping mummies in Egypt. During the colonial period, there had been a large immigration of Indian labour to work in railways East Africa, and in sugar and other plantations in Mauritius, Madagascar and Southern Africa. They form a large part of the present Indian diaspora on Read More
On November 17, 2005, Yang Haomin, chairman of Shaanxi province’s State Farm Agribusiness Corporation, sat for two hours, pondering a fax that had arrived in his office from the Ministry of Agriculture in Beijing.1 Would his company be interested in going to Cameroon? Yang described himself as a born optimist. In 1998, he had imported 120 ostriches from Namibia, the nucleus of an experimental farm. People had laughed at the ungainly birds, but his investment grew to become the largest ostrich-operation in Asia. Profits from the venture helped build the “Ostrich King” building that now housed Yang’s office in Xi’an, home of China’s famous 2,200-year-old terracotta army. In the Read More
SICOMINES, a joint venture between a group of Chinese companies and Democratic Republic of Congo’s Gecamines SA, is close to agreeing terms for the development of a 240-megawatt, $660 million hydropower plant that will meet the mining project’s electricity requirements within four years.
“We have discussed the project for a long time and we are now aligned,” Moise Ekanga, executive secretary of the Office for the Coordination and Monitoring of the Sino-Congolese Programme, said in an interview in Kinshasa, the capital. “We are in the process of establishing the company that will own the concession to develop the project.”
The Busanga plant and the 6.8 million metric-ton copper concession that Sicomines plans to Read More
Abstract
The paper analyzes the phenomenon of the BRICS group and its transformation into BRICs. From the first Summit, whose final declarations were mainly centered on economic, financial and commercial themes, the group attention has broadened its horizons, as to encompass health, agriculture, environment, international relations. The BRICS working method seems to suggest a new pattern of inter-state relations, based on peer-to-peer cooperation, experiences sharing and “soft” policy transfer. Given the difficult classification of this new “entity”, the author suggests considering it more as a network, where there is not a singular hegemony power, but where the relevance of the different countries varies according to the issue discussed in the Read More
Angus Deaton, the economist who won a Nobel Prize this week, has spent much of his career trying to measure poverty and progress in India and China.
The Royal Swedish Academy of Sciences said its decision to award The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2015 to Angus Deaton was owing to “his analysis of consumption, poverty, and welfare”.
In a special message for India, Deaton has said India’s welfare “experiments are technical solutions to political problems, that really ought to be decided by democratic discussion; that experiments are often done on the poor and not by the poor is hardly an encouraging sign.”
Beijing is open to maritime accidental encounter and search and rescue drills in the South China Sea with members of the Association of Southeast Asia Nations (ASEAN) next year, China’s defense minister said in a meet with ASEAN defense chiefs.
“Forces from outside the region are using the Internet, social media and other means to carry out incitements against countries in this region, threatening social stability,” Chinese Defence Minister Chang Wanquan said.
Chang added that China is willing to work with ASEAN to boost military cooperation and jointly maintain regional peace and stability.
Chang’s comments, made at an informal meeting in Beijing, were carried by the Defence Ministry’s official microblog.
Earlier last year, ASEAN Read More