The Asian Development Bank says economic growth in the Pacific region will decline slightly in 2012. The Manila-based lender says the region’s growth will slip by one percentage point from last year’s 7.0 percent rate, due to slower growth in resource-exporting economies. The report covers 14 mainly Pacific island countries, including Papua New Guinea and […]
ADB Forecasts Mild Economic Slowdown for Pacific
Posted March 13th, 2012 at 12:55 am (UTC-5)
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US Report Cites Growing Economic Cyber Espionage
Posted November 3rd, 2011 at 12:45 pm (UTC-5)
A new U.S. intelligence report says China and Russia are using cyber espionage to steal U.S. trade and technology secrets to help build their economies. It says Chinese and Russian intelligence services have swallowed up large amounts of high-tech American research and development data, posing “a growing and persistent threat” to U.S. economic security. The […]
China Jails Two for Leaking Secret Economic Data
Posted October 24th, 2011 at 3:00 am (UTC-5)
Chinese prosecutors say two men have been sentenced to jail for deliberately leaking sensitive financial data before it was released to the public. The data, such as inflation and trade statistics, was leaked to securities industry insiders who were able to use the information to anticipate changes in stock and bond prices. Officials said Sun […]
China Jails Two for Leaking Secret Economic Data
Posted October 24th, 2011 at 1:05 am (UTC-5)
Chinese prosecutors say two men have been sentenced to jail for deliberately leaking sensitive financial data before it was released to the public. The data, such as inflation and trade statistics, was leaked to securities industry insiders who were able to use the information to anticipate changes in stock and bond prices. Officials said Sun […]
Jordan’s King Calls for Economic Recovery in Middle East
Posted October 22nd, 2011 at 2:55 pm (UTC-5)
Jordan’s King Abdullah has urged attendees at an international forum to encourage economic growth in the volatile Middle East. Speaking to an audience at a two-day special meeting of the World Economic Forum, the king said jobs are urgently needed in the region to counteract the highest youth unemployment rate in the world. He said […]
Hong Kong Ranks First in Global Economic Freedom Study
Posted September 21st, 2011 at 12:35 am (UTC-5)
A U.S.-based public policy research institute says Hong Kong is the world’s freest economy. The former British colony, which became a Chinese territory in 1997, has ranked first in the Cato Institute’s annual report on global economic freedom since the study was started 15 years ago. Hong Kong Chief Executive Donald Tsang says the territory […]
ADB Study Urges Asian Leaders to Take Bold Action
Posted August 2nd, 2011 at 12:25 am (UTC-5)
A new book commissioned by the Asian Development Bank says Asian leaders must take bold action to sustain rapid growth if the region is to reach its full potential by the middle of the century. The book contends that Asia’s continued rise is very possible but not certain. The authors warn that fast-growing economies like […]
ADB Forecasts Slower Economic Growth for East Asia
Posted July 28th, 2011 at 12:45 am (UTC-5)
The Asian Development Bank says the East Asian region will grow at a more moderate pace this year and next due to rising inflation and sovereign debt woes in the United States and Europe. In a report issued Wednesday, the Manila-based lender forecasts average growth for the emerging economies of East Asia at 7.9 percent […]
IMF Urges China to Strengthen Yuan, “Rebalance” Economy
Posted July 21st, 2011 at 1:20 am (UTC-5)
The International Monetary Fund is calling on China to undertake a series of reforms of its financial system, including loosening controls on its currency. The Washington-based institution said Wednesday the yuan, also known as the renminbi, is “substantially” undervalued even though China has allowed it to gradually appreciate against the U.S. dollar since last year. […]
UN Calls for Doubling Food Production
Posted July 5th, 2011 at 10:30 am (UTC-5)
The United Nations warns the world’s farmers will have to double the amount of food they produce to keep up with a rapidly growing population. The U.N.’s latest World Economic and Social Survey, released Tuesday, says global food production will need to jump by 70 to 100 percent by 2050 to feed an an anticipated […]
