Japan has upped the competition with China in aiding East Africa’s development after signing a US$275 million loan to fund Kenya’s second phase of the Mombasa port expansion, reports our Chinese-language sister paper Want Daily. The US$275 million loan is part of a US$546 million contract aiming to move along the 2020 projected completion date […]
Shifting Capital Flows
African Officials Vow to Enhance Cooperation With China
African leaders attending the 24th African Union (AU) summit in Addis Ababa vowed to strengthen cooperation with China to develop infrastructure and embolden the war against terrorism and infectious diseases. The 2015 African Union Heads of State and government summit ended on Saturday amid calls for concerted efforts to promote security and development on the […]
IMF’s Lagarde Warns African Economies of Headwinds from China, U.S
International Monetary Fund head Christine Lagarde has warned that African economies could be hurt by a slowdown in China’s economy and an imminent hike in United States interest rates. Lagarde, speaking on Tuesday on a visit to Rwanda, said IMF’s global economic forecasts have been revised down over the past few months despite a huge […]
India to Overtake China as World’s Fastest Growing Large Economy
Sorry China, but it’s time to step aside. By next year, India could be the world’s fastest-growing large economy. That’s the view of a growing number of economists, many of whom think China’s economy will continue to slow this year and next, while India reaps the benefits of lower oil prices and policy reforms. The […]
South Africa-India Trade to Reach $20 Billion by 2018
Seeking expansion of economic ties with India, South Africa today said it is targeting to increase bilateral trade volume to USD 20 billion by 2018 from the current USD 15 billion. “The bilateral trade stands at USD 15 billion and we are targeting to reach more than USD 20 billion by 2018,” South Africa’s Minister […]
Vietnam Expands Foreign Property Ownership to Boost Economy
Vietnamese lawmakers approved a law allowing broad foreign ownership of property, as the government seeks to boost an ailing real-estate market and accelerate economic growth. Foreigners with a valid visa as well as foreign companies and international organizations operating in Vietnam now will be permitted to purchase houses and apartments, according to the National Assembly’s […]
Innovation Evaluation: Should Development Look to the Private Sector?
With no streamlined model or standardized measures for assessing the results of innovation, it might be time for the public sector to take a harder look at how corporations evaluate innovation. And recent societal change is spurring the development sector to do just that, according to Greta Nasi, director of the public management and policy […]