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Economic Survey of Estonia 2011

Estonia is recovering from a deep recession

Special Correspondent - 2011-04-18 11:03
Estonia continues to show a remarkable determination in policy making. It has established a business friendly regulation, avoided fiscal deterioration during the crisis and made it into the euro area, despite being hit by an accumulation of negative external shocks. Helped by strengthening foreign demand and increased competitiveness the Estonian economy is recovering from a deep recession, which drove the unemployment rate up to nearly 20% and left an overhang of private sector debt.

Mauritius and IMF Sign MoU for the Establishment of the Africa Regional Technical Assistance Center South

Special Correspondent - 2011-04-18 09:54
Pravind Kumar Jugnauth, Vice Prime Minister and Minister of Finance and Economic Development of Mauritius, and Ms. Nemat Shafik, Deputy Managing Director of the International Monetary Fund (IMF), today signed a memorandum of understanding for the establishment of the Africa Regional Technical Assistance Center South (AFRITAC South).

Switzerland to Contribution $5 million to the IMF’s Topical Trust Fund

Special Correspondent - 2011-04-17 23:15
Ms. Nemat Shafik, Deputy Managing Director of the International Monetary Fund (IMF), and Her Excellency, Ambassador Beatrice Maser, Head of Economic Cooperation and Development of Switzerland, today signed an agreement on Switzerland’s contribution of $5 million to the IMF’s multi-donor Topical Trust Fund on Tax Policy and Administration.

AGREEMENT REACHED FOR GLOBAL PREPAREDNESS FOR FLU PANDEMICS

Special Correspondent - 2011-04-17 23:12
New York: A United Nations-backed agreement reached this weekend will help ensure that influenza virus samples will be shared during a pandemic with partners who need the information to take steps to protect public health.
India: SEZs’ PSUs On Chopping Block

GOVT FACILITATES SEZs CORPORATE SECTOR TO GROW FAST

SILENCE ON EMPLOYERS’ FLAGRANT VIOLATION OF LABOUR LAWS
Narendra Sharma - 2011-04-17 15:32
NEW DELHI: There is at least one sector of economy, and probably the only one in India, where any talk about the living and working conditions of workers is considered to be hereby. This sector is the yesteryear’s Export Processing Zones, having been given the nomenclature of Special Economic Zones (SEZs).
India

MINISTRY CARES LITTLE FOR CORPORATE GOVERNANCE

NO EMPHASIS ON ACCOUNTABILITY
Nantoo Banerjee - 2011-04-17 15:29
Having already killed the proposal to compose board of public companies with majority independent directors, the government has further diluted the corporate accountability norms for part-time directors by offering to protect them against executive wrong-doings in these companies. In other words, independent directors have been allowed to go scot-free in prosecution cases against an erred corporate management if offences occurred without their prior knowledge.

TEAM APPOINTED TO DESIGN NEW CLIMATE FUND

Special Correspondent - 2011-04-15 19:23
New York: Parties to the United Nations climate change convention today announced the selection of a 40-member committee tasked with designing an international fund to manage resources mobilized to enable developing countries to address the effects of climate change.

UN WAR CRIMES TRIBUNAL CONVICTS TWO FORMER CROATIAN GENERALS OVER ATROCITIES

Special Correspondent - 2011-04-15 19:20
New York: Two former top Croatian generals were today convicted and sentenced to lengthy jail terms by a United Nations war crimes tribunal over atrocities carried out against ethnic Serb civilians during a military offensive in the Balkan conflicts of the 1990s.

Latvian economy now showing clear signs of recovery

Special Correspondent - 2011-04-15 19:10
A joint team from the International Monetary Fund (IMF) and the European Commission (EC) visited Riga during April 5–15 for discussions for the Fourth Review of the ongoing international financial support program.

GROWING NUMBER OF DEATHS IN GULF OF ADEN SPARKS ALARM FROM UN REFUGEE AGENCY

Special Correspondent - 2011-04-15 19:04
New York: The United Nations refugee agency today voiced alarm at the growing number of deaths in the Gulf of Aden this year, noting that just this week 16 people have drowned and another five are missing – nearly all of them Somalis fleeing strife in their homeland – in two separate incidents.