Tag Archives: formal

Developing World’s Share of Global Investment to Triple by 2030, Says New World Bank Report

Seventeen years from now, half the global stock of capital, totaling $158 trillion (in 2010 dollars), will reside in the developing world, compared to less than one-third today, with countries in East Asia and Latin America accounting for the largest shares of this stock, says the latest edition of the World Bank’s Global Development Horizons (GDH) report, which explores patterns of investment, saving and capital flows as they are likely to evolve over the next two decades.

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Developing countries to dominate global saving and investment, but the poor will not necessarily share the benefits, says report

STORY HIGHLIGHTS
  • Developing world’s share of global investment to triple by 2030
  • China, India will be developing world’s largest investors
  • Boost to education needed so poor can improve their well-being

In less than a generation, global saving and investment will be dominated by the developing world, says the just-released Global Development Horizons (GDH) report.

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IFC to Support Central Bank of Nigeria in Strengthening Sustainable Banking

About IFC

 

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit http://www.ifc.org.

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SA ECONOMIC GROWTH HIT BY MINING SECTOR

Will the Chinese purchase divested mining interests?

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MasterCard to Power Nigerian Identity Card Program

13 Million Cards to be issued first, in largest card rollout of its kind in Africa

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Towards a New Economic Model for Tunisia: Identifying Tunisia’s Binding Constraints to Broad-Based Growth –

The Government of Tunisia, the African Development Bank and the United States Government have released a report

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IMF Executive Board Completes First Review Under ECF Arrangement for Niger and Approves US$16.9 Million Disbursement

NIAMEY, Niger, March 29, 2013/African Press Organization (APO)/ The Executive Board of the International Monetary Fund (IMF) today completed the first

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Africa’s Agriculture and Agribusiness Markets Set to Top US$ One Trillion in 2030

STORY HIGHLIGHTS
  • Africa has the potential to create a trillion-dollar food market
  • But farmers need better access to help them grow and trade their products
  • A new report outlines challenges and solutions to Africa’s Agriculture and Agribusiness sectors

WASHINGTON –A new World Bank report “Growing Africa: Unlocking the Potential of Agribusiness,” says that Africa’s farmers and agribusinesses could create a trillion-dollar food market by 2030 if they can expand their access to more capital, electricity, better technology and irrigated land to grow high-value nutritious foods.  The report calls on governments to work side-by-side with agribusinesses, to link farmers with consumers in an increasingly urbanized Africa.

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South Africa: Progress made but step up economic reforms to achieve full potential, says OECD

PARIS, France, March 4, 2013/African Press Organization (APO)/ South Africa must step up efforts to foster strong, inclusive economic growth that creates jobs, according to the OECD’s latest Economic Survey of South Africa. Priorities include a growth-enhancing macroeconomic policy-mix, and better implementation of structural reforms, notably to improve education.

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Standard Bank Group cautiously optimistic about BRICS development bank

 

The feasibility of establishing a BRICS development bank will be an agenda item prominent in the upcoming fifth BRICS summit. The envisioned bank is expected to focus on financing infrastructure development projects and providing auxiliary support for project preparation such as feasibility studies, according to a report released by Standard Bank Group today.

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Hail To The Queen of The Brides!

Photo credit to: Eric Lax Studio photo credit to: Joe Jackson Location photo credit to: Sonny James Jr. Queen of the Brides was launched in 2012 and is a wholly owned subsidiary of TeKay Designs Inc. which was founded in 1998. Queen of the Brides offers high-end historical bridal and formal gowns that include quality pieces of jewelry representative from the same time period. The queen Of The Brides collection has been featured in Wedding Pages magazine and Wedding Style Guide International. Designing high quality products is our pledge to our customers. TeKay Designs, Inc. is an international fashion house with headquarters in Houston Texas. We specialize in bridal, formal, ethnic, accessories and fashion jewelry for all sizes. The majesty of African royalty starts with a gown fit for a queen …that sets the stage for a cultural theme.

TeKay Designs Inc. announces the launch of Queen of The Brides gown collection during runway presentations in Houston and Dallas, Texas. The Houston based fashion design house specializes in unique bridal, formal-wear, ethnic fashions, accessories and custom jewelry. “Queen of the Brides” is a limited edition collection that features couture ethnic bridal gowns complete with jewelry and headpieces, a staple of Tekay Designs’ aesthetic. TeKay has been diligently creating ethnic bridal gown concepts that personify royalty. The inspiration for the Queen of the Brides collection are historical fashion icons from ancient civilizations of Egypt, India, Ghana and South Africa. The gowns represent women of power throughout history and are infused with cultural elements from a distinct time in history. The initial collection includes gowns named after Queen Nefertiti of Egypt, Queen Cleopatra VII of Egypt, Queen Cleopatra Selene II of Egypt, Queen Ankhesenamun of Egypt, Mumtaz Mahal – Mughal Queen of India, Manta Tisi – The Queen of the Wild Cats in South Africa.

Each bridal ensemble is worn with a headpiece or veil, jewelry and elaborate embroidery or beading stitched onto the gown. The fabrics include silk, embroidered lace, beaded Dupioni silk,  Duchesse satin, Poe de Soua, Aso-ake, Vintage lace trim, crystal and rhinestone trim.  The dominant colors in the collection are gold and silver which is symbolic. In ancient Egypt, yellow was the symbol of gold and immortality, white represented happiness.  Necklaces, armlets, bracelets, and anklets were made of gold, coral, pearl, agate, and onyx.  Collars made of shells, beads, and precious stones set into gold were worn as a necklace or attached to a neckline made of cloth or leather.

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IMF Executive Board Completes Second Review Under the Extended Credit Facility Arrangement for Burundi and Approves US$7.6 Million Disbursement

BUJUMBURA, Burundi, February 14, 2013/African Press Organization (APO)/ The Executive Board of the International Monetary Fund (IMF) has completed the second review of Burundi’s performance under the program supported by the Extended Credit Facility (ECF). The Executive Board’s decision will allow for the disbursement of an amount equivalent to SDR 5 million (about US$7.6 million), bringing disbursements under the arrangement to an amount equivalent to SDR 10 million (about US$15.3 million). The Executive Board’s decision was taken on a lapse of time basis.1 Burundi’s three-year ECF arrangement was approved on January 27, 2012 (See Press Release No.12/35).

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ANOTHER CAPITAL FLIGHT IN THE GAMBIA

Following months of report that Prime Bank Gambia will be sold, the Central of The Gambia (CBG) has come up with reports that the bank has not met its minimum capital requirement for 2012; and therefore is required to go on “voluntary liquidation”.
“The Central Bank of the Gambia is pleased to inform the general public that 12 out of the 13 commercial banks operating in The Gambia met the minimum capital requirement of D200 Million,” a release from CBG reads.

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All-Somali refugee cast carries Asad to Oscar nomination for Best Narrative Short

 

Asad is a short film written and directed by famed commercial director Bryan Buckley of Hungry Man Films. The film received an Academy Award nomination on 10 January 2013, landing it one step closer to film’s highest honor: an Oscar.

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First Grain Warehouse Receipts Issued in Ghana

Both Producers and Consumers to Benefit

TAMALE, Ghana, Jan. 9, 2013 /PRNewswire-USNewswire/ — Getting a loan, storing crops, earning more from sales—all are about to become a little easier for Ghanaian grain farmers and traders with the recent issuance of the first grain warehouse receipts. This auspicious event took place in December in Tamale, in northern Ghana, a relatively poor area that is the focus of development efforts. The receipts are a record of deposit that can be accepted as collateral by banks and nonbank financial institutions.

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Eurozone Stability and Global Systemic Risk Are Top Concerns for Business, BNY Mellon Investor Relations Survey Finds

76% say Eurozone key driver in market confidence; 35% say new regulations will reduce liquidity; CEOs spending more time to retain existing shareholders

NEW YORK, Dec., 2012 /PRNewswire/ — Companies say that stability of the Eurozone and global systemic market risk, along with the prospect of increased regulatory oversight, are weighing most on their business outlook and on the markets, according to an annual survey conducted by BNY Mellon, the global leader in investment management and investment services.

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Judge throws out tax evasion charges against MTN Uganda

Kampala, Uganda – Judge Lameck N. Mukasa of the Criminal Division of the High Court of Uganda has declared criminal summons alleging tax evasion against the senior management and board of directors of MTN Uganda null and void.

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