Economy and Finance

Photo: Tackling vulnerabilities, building resilience. Credit: UNCTAD.

UN Calls for A Global Green New Deal and Radical Reforms

By Jaya Ramachandran

GENEVA (IDN) – In a bold move, new UN report has proposed a series of reform measures to make debt, capital and banks work for development and finance a Global Green New Deal generating a net increase in global employment of at least 170 million jobs, with cleaner industrialization in the South and an overall reduction in carbon emissions by the target year of the 2030 Agenda for Sustainable Development.

“We can meet the UN Sustainable Development Goals (SDGs) by 2030, but only if we find the political will to change the rules of the international economic game and adopt policies that scale up the resources needed for a big investment push led by the public sector and set the global economy on an expansionary course, says UNCTAD’s Trade and Development Report 2019.

: Jaya Ramachandran; SUSTAINABILITY; Peace & Justice; 27 September 2019

Photo: President Vladimir Putin with Prime Minister of India Narendra Modi at the Zvezda Shipyard on 4 September 2019. Source: en.kremlin.ru

India, Russia Synergize and Leverage Mutual Strengths

By Shastri Ramachandaran*

NEW DELHI (IDN) –The Modi-Putin relationship is, perhaps, the most fascinating of India’s external “affairs”. The reasons for their diplomatic bonding and evolving personal chemistry may be many. And, the dazzle of events and optics, as is the wont in any political romance, take the focus away from tangible outcomes.

This is what happened during the two-day visit of Prime Minister Narendra Modi to the Russian port city of Vladivostok on September 4-5 for a summit meeting with President Vladimir Putin.

: Shastri Ramachandaran; THE WORLD; Russia; 16 September 2019

Photo: Tea plantation in Sri Lanka. Credit: Sri Lanka government

Tea the Invigorating and Sustaining Wine of Life

Dr. K. Mulaffer

Chairman, Sri Lanka Land Reclamation and Development Corporation (1990-1992); Chairman, Building Materials Manufacturing Corporation (1992-1994) & Project Director & Coordinator, National Equipment & Machinery Organization (1994-1995)

COLOMBO (IDN) – My American friends must understand that choosing tea is like choosing wine. And here is why? The natural flavors of teas are quintessentially different from country to country, from which height, district, season and year, it’s grown. It is the same as with Wines.

: Asia Editor; THE WORLD; Asia-Pacific; 28 July 2019

UAE and Russia Eye Geopolitical and Commercial Mileage in Climate Change

By James M. Dorsey*

SINGAPORE (IDN) – Climate change, much like war, could prove to be a geopolitical and commercial gold mine. At least, that is the take of DP World, Dubai’s global port operator, and Russia’s sovereign wealth fund.

DP World is partnering with the fund, the Russian Direct Investment Fund (RDIF) to create an all-year round maritime sea route from Europe to Asia through the Arctic.

: Phil Harris; THE WORLD; Middle East; 24 July 2019

Russia Keen to Boost Economic and Trade Relations with Africa

By Kester Kenn Klomegah

MOSCOW (IDN) – Chairman of the State Duma, Viacheslav Volodin, has urged African leaders to use the untapped enormous natural resources to vigorously pursue sustainable development goals as the best way through which to escape underdevelopment, economic dependency syndrome and neo-colonialism.

In order to achieve this, Russia, he said, was prepared with a new legislative supported comprehensive plan in the coming years to uplift, especially, its economic cooperation into a new stage with African countries.

: Kester Kenn Klomegah; THE WORLD; Africa; 11 July 2019

Photo: Huawei at Mobile World Congress 2019 in Barcelona. Credit: Huawei

Huawei Will Give $300 Million A Year to Universities with No Strings Attached

Its new fundamental research division could help the company regain international favour and outmanoeuvre the U.S.

By Karen Hao | Technology Review

The writer is the artificial intelligence reporter for MIT Technology Review. In particular she covers the ethics and social impact of the technology as well as its applications for social good. This article first appeared in MIT Technology Review.

CAMBRIDGE, Massachusetts, USA (IDN) – In just the past week, the U.S.’s stance on China’s Huawei has become very confused. On Saturday [June 29], during the G20 summit, President Donald Trump announced that he would ease restrictions on the company, allowing U.S. companies to sell goods to it once again. But by Tuesday [July 2] an email sent to the Commerce Department’s enforcement staff, seen by Reuters, reiterated that Huawei should still be treated as on the blacklist.

: J Nastranis; SUSTAINABILITY; Decent Work & Economic Growth; 05 July 2019

Map: Financial Action Task Force countries. Source: FATF

Ultimata to Iran and Pakistan Threaten to Cloud China’s FATF Presidency

Viewpoint by James M. Dorsey

James M. Dorsey – a senior fellow at Nanyang Technological University’s S. Rajaratnam School of International Studies, an adjunct senior research fellow at the National University of Singapore’s Middle East Institute and co-director of the University of Wuerzburg’s Institute of Fan Culture – offered this viewpoint to IDN.

SINGAPORE (IDN) – China’s chairmanship of an international anti-money laundering and terrorism finance watchdog could put to the test the cohesiveness of global efforts to counter political violence with Iran and Pakistan hoping that they will be able to avoid blacklisting with China at the helm.

: Phil Harris; OPINION; 27 June 2019

Photo: Prime Minister Dmitry Medvedev with participants of the Russia-Africa Economic Conference on 21 June 2019 in Moscow. Credit: The Russian government website.

Economic Growth Makes Africa Highly Popular with Investors

Viewpoint by Dmitry Medvedev

The following are extensive extracts from the Russian Prime Minister Dmitry Medvedev’s remarks on June 21, 2019 to the Russia-Africa Conference and the general meeting of shareholders of the African Export-Import Bank, a leading regional financial institution. This was only the second meeting of the Bank’s shareholders outside the African continent. – The Editor

MOSCOW (IDN-INPS) – Russia and African countries are bound by friendly relations and partnerships that have a solid historical foundation. But with all due respect for the past (and we must remember it), it is much more important to look into the future, forward, to jointly make various plans and to implement them together.

: UN Bureau; THE WORLD; Russia; 23 June 2019

Russia-Africa Economic Partnership Under the Spotlight

By Kester Kenn Klomegah

MOSCOW (IDN) – Squeezed between European and American sanctions, Russia has stepped up efforts to elevate its existing relationship, mostly focusing on trade, investment and economic cooperation with several African countries, to include areas spanning the financial sector, energy, the mining industry, railway infrastructure, digital technologies, cybersecurity, healthcare, education, and food security.

The latest additional step taken in propelling partnership efforts was an open Economic Conference held within the Afreximbank Annual Meetings (AAM2019) from June 20-21 in Moscow.

: Kester Kenn Klomegah; THE WORLD; Russia; 22 June 2019

Photo: An electric vehicle and an antique car on display at a 1912 auto show in Toronto, Canada. Credit: William James. Source: Wikimedia Commons.

The Electric Vehicle Revolution Is Underway in Africa

By Giles Kirkland

An automotive expert and blogger, Giles Kirkland says he has a passion for new technologies.

LONDON (IDN) – In 2016, a businessman called Francis Romano imported an electric car Nissan Leaf to Nairobi, Kenya. However, the car was held up at the Customs for an intriguing reason: they had never seen an electric vehicle before! Fast-forward to today and Romano claims that the use of electric vehicles (EVs) has saved him a staggering 70 percent of fuel costs in his business.