WITH an improvement in the level of intra-African transactions and communication, African products would enjoy a boost at the global market coupled with the concomitant promotion of peace, integration and trans-border trade across the region, the African Organisation for Standardisation has said. Underlying the need to boost intra-African trade, ARSO President, Dr. Joseph Odumodu, who […]
Increasing Global Competition
Turkey eyes more FDI from Japan with Economic Cooperation Agreement
The President of the Investment Support and Promotion Agency of Turkey (ISPAT) İlker Aycı was Daily Sabah’s guest this week and we discussed the recent developments between Turkey and Japan regarding foreign direct investments. Daily Sabah: Turkey managed to attract the attention of investors from the Far East with its young and dynamic population along […]
Japan Has Invested More Africa Project Financing Than China
Japan has invested more in project financing in Africa than China as Asian nations continue to strengthen their economic influence on the continent, according to Linklaters LLP. Japanese investors accounted for $3.5 billion of the $4.2 billion of project funds that Asian nations poured into Africa last year to improve roads, water and sanitation and […]
Opinion: Ensuring The World Bank’s Relevance
For decades, the World Bank stood alone in terms of size and influence in emerging market around the world— this is no longer the case. The world has changed considerably since the Bank first began to focus its lending and expertise on the developing world some 50 years ago. In the 1960’s, global capital markets […]
Are U.S. Allies Flocking to China’s New Bank?
In a surprise move, London announced Thursday that it will seek to join the Chinese-led Asian Infrastructure Investment Bank (AIIB), sparking an angry response from the U.S. The (AIIB) was created by China last fall and officially rolled out with a signing ceremony in October 2014. At the original signing ceremony, 21 countries (including China) […]
Chinese Premier Sketches a Lofty Vision for Private Enterprise but Warns of Obstacles
Premier Li Keqiang, in his annual speech to the nation, warned Thursday that China would have to overcome economic inefficiencies, excess capacity and impediments to private enterprise if it were to maintain healthy rates of growth. In his state-of-the-nation report to the National People’s Congress, the Communist Party-run legislature, which meets in full session once […]
The “Invisible Hand” of the State in MENA Economies
Two centuries ago, Adam Smith claimed that capitalism would be promoted through the presence of competing actors who would optimize economic resource allocation “as if by an invisible hand.” This valuable ability of unbridled markets could not be matched by a central government, warned Ludwig von Mises in the 1920s, and in the 1950s, Friedrich […]