Economic conditions
Two Nobel laureates in Economics have come out in support of China's decision not to appreciate its currency, the yuan, despite intense pressure from the US to do so. Joseph Stiglitz and Robert A. Mundell argue that a yuan appreciation would not be beneficial to either China or
Economic conditions
As Australia struggles with a growing worker shortage, Immigration Minister Amanda Vanstone has confirmed an increase in the country's skilled migrant intake. The move is expected to bring the overall migration program to 140,000 this year, the largest in almost 20 years. Vanstone, however, denied that the
Economic conditions
Vietnam's Prime Minister Phan Van Khai has approved a plan for the Van Phong Bay economic zone in Khanh Hoa province, which aims to develop tourism, services, industry, aquaculture, and other economic sectors. Covering an area of approximately 150,000 hectares, the zone will have an international container
Economic conditions
President Gloria Macapagal-Arroyo's visit to the Federated Realty IT Park in Dumaguete City has sparked excitement among business leaders, who believe it will boost economic growth in Negros Oriental. The Federated Realty IT Park, a hub for business process outsourcing (BPO) and call centers, is seen as a
Economic conditions
Japan's Foreign Ministry is weighing the possibility of setting a medium-term goal to increase official development assistance (ODA) to 0.7% of gross domestic product, a requirement set by the United Nations for countries seeking permanent membership on the U.N. Security Council. This decision comes as Japan&
Economic conditions
Philippine President Gloria Macapagal-Arroyo is pushing for the approval of the P907.6-billion (US$16.7 billion) budget for 2005, aiming to increase economic growth and investments. She stated that the budget will be a crucial step in turning around the economy and improving the socio-economic condition of Filipinos. The
Economic conditions
China's largest arbitration institution, the China International Economic and Trade Arbitration Commission (CIETAC), is planning to step up efforts to provide specialized services for specific industries and the online sector. This move is aimed at creating a favorable business environment for both foreign and local companies. The commission
Economic conditions
Iranian Foreign Minister Kamal Kharrazi's visit to New Delhi has sparked renewed interest in bilateral cooperation between the two countries. Kharrazi emphasized the importance of the proposed Iran-Pak-India gas pipeline, stating that it would bolster regional cooperation and create a positive impact on the regional convergence. The Indian
Economic conditions
Taiwan Vice Premier Wu Rong-i has pledged to help domestic companies effectively explore the mainland market and avoid investment risks, following the high-profile case of United Microelectronics Corp. (UMC) being charged with illegally investing in a mainland-based wafer plant. Wu emphasized that the government does not prevent Taiwan businesses from
Economic conditions
Iran and Ethiopia are expanding cooperation through their private sectors, with the potential to create a significant market for Iran's exports of technical and building services. Iranian investors and traders are being offered opportunities in Ethiopia, which has a large and growing agricultural sector. A ceremony was held
Economic conditions
The Philippine government is attempting to stabilize the country's currency, the peso, through various means, including increasing the value-added tax (VAT) to 12% from 10% and encouraging foreign investors to stay with confidence in the economy. Bangko Sentral ng Pilipinas (BSP) Assistant Gov. Diwa Guinigundo stated that the
Economic conditions
The Indian government is considering relaxing its regulations on the retail and realty sectors to allow for foreign direct investment (FDI). Commerce and Industry Minister Kamal Nath stated that the government is examining various parameters to develop a policy and is expected to firm up its policy in the next
