Prime ministers
India's new government, headed by Prime Minister Manmohan Singh, has sparked optimism among economists, who believe that continuity in policies will propel economic growth to over seven percent in the current fiscal year. With a 20-member team, the new government has the potential to build on the existing
Prime ministers
Bangladeshi Prime Minister Sheikh Hasina has underscored the need for Chinese cooperation in helping Bangladesh achieve its goal of becoming a modern and prosperous country. Hasina made the remarks during a meeting with a five-member delegation of China National Petroleum Corporation, led by its President Jiang Jiemin, at the Prime
Prime ministers
South Korean President Lee Myung-bak and Australian Prime Minister Kevin Rudd have called on North Korea to abandon its plan to launch a missile, which they believe will severely undermine world peace. The leaders made their appeal as they met in London for the G-20 economic summit, where they stressed
Economic conditions
As the car maker GM Holden struggles to cope with the effects of the global economic downturn, executives, including chairman and managing director Mark Reuss, will take a pay cut. The 10% reduction for executives and 7% reduction for senior staff will come into effect from May 1, with no
Economic conditions
National Australia Bank Ltd (NAB) is facing inevitable job losses amid reports that the bank will announce retrenchments when it delivers a strategy update on Thursday. The economic climate has taken a toll on the bank's operations worldwide, with deteriorating conditions in all of its markets making widespread
Economic conditions
South Korean President Lee Myung-bak and Australian Prime Minister Kevin Rudd strengthened bilateral relations through a summit in Canberra, announcing the start of official free trade talks and promising cooperation in counter-terrorism, non-proliferation, and military exchanges. The two leaders expressed strong opposition to protectionism and agreed to hold annual foreign
Economic conditions
Belgium-based industry tracker Just Auto reported on a recent reversal by French President Nicolas Sarkozy regarding bailout conditions for French car companies, indicating a shift in France's economic approach. Sarkozy initially suggested that French car companies receiving government assistance should shift capacity out of Central and Eastern Europe
Economic conditions
Australian government interest rate payments on federal government debt are forecast to rise to A$2.6 billion (US$1.67 billion) by 2011-12, with the government expecting deficits for at least the next three years. The government is seeking to increase the borrowing limit to A$200 billion, up
Economic conditions
Thai Prime Minister Abhisit Vejjajiva returned from the World Economic Forum (WEF) in Davos, Switzerland, where he met influential leaders and discussed global economic issues. Abhisit, a WEF 100 Global Leader for Tomorrow, spoke in two panels, including one on food security with Kofi Annan and Bill Gates. Upon his
Economic conditions
The Taiwanese government, led by Council of Labor Affairs (CLA) Minister Wang Ju-hsuan, is set to create over 200,000 jobs this year to combat unemployment. The jobs are part of a NT$500 billion (US$15 billion) infrastructure spending plan, which aims to reduce the unemployment rate to no
Economic conditions
Australian Treasurer Wayne Swan has weighed in on the massive job cuts announced by mining giant BHP Billiton, describing the move as a sober reminder of the global economic crisis's impact on Australia. BHP's decision to axe 6,000 global jobs, including 3,400 in Australia,
Economic conditions
China's unified enterprise income tax rate for domestic and foreign capital enterprises will create a more standardized and transparent investment environment, according to Shi Yaobin, head of the Taxation Department of the Ministry of Finance. The government aims to establish a uniform tax system, eliminating preferential treatment for
