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Politics
UN, World Bank plan to mobilize financing for sustainable energy
The United Nations and the World Bank on Wednesday announced a concerted effort by governments, international agencies, civil society and the private sector to scale up financing to provide sustainable energy for all, with UN Secretary-General Ban Ki-moon calling for massive new investments in the face of a rising “global…
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South Asia
Bangladesh’s forex reserves go up
While the per capita income of people in Bangladesh has increased substantially, the country’s foreign exchange reserve crossed the US $17 billion mark on October 22 for the first time in the country’s history. The officials of the country’s central bank Bangladesh Bank and Bangladesh Bureau of Statistics (BBS) consider…
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East Asia
Is North Korea a ‘communist state’ or a ‘market economy’?
North Korea is often described as a ‘communist country’ by outsiders, and also officially describes itself as a ‘socialist country.’ But, what exactly is a ‘communist state,’ or (to use a less ideologically charged term) a ‘country of state socialism’? It is usually a country where all or most of…
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South Asia
Indo-Bangla power trading inaugurated
With the inauguration of the Bangladesh-India Power Transmission Center at Bheramara in the South-Western region of Bangladesh, the regional cooperation among the South Asian countries entered into a new era. The center was formally opened on October 5 and started supplying electricity produced in India to Bangladesh. Through this center,…
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Emergence of market economy in North Korea
What can we learn from the dramatic transformation that North Korea has undergone in the last two decades? I am afraid that many of my readers might not like my conclusions, but for me, the last two decades are another confirmation that markets and trade are all too natural for…
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[Asia Round-up] Universities can boost China’s ‘soft power’
Universities can boost China’s soft power [China, China Daily, 25-09-2013] China’s leading educational institutions Peking University (Beida) and Tsinghua University have joined the Harvard and Massachusetts Institute of Technology (MIT)-created EdX online educational consortium by providing six courses online free of charge. China has now officially entered the movement known…
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Business
World Bank pledges more funds for poverty reduction in fragile nations
World Bank President Jim Yong Kim on Tuesday pledged to increase funds for poor people in fragile and conflict-affected states, as part of a new strategy for the global development institution to end poverty. In a speech at George Washington University, Kim said the fiscal uncertainty in the United States,…
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South Asia
India passes $20 bln law to expand food welfare
India plans to subsidize wheat, rice and cereals for some 800 million people under a $20 billion scheme to cut malnutrition and ease poverty. The Food Security Bill, sent this week by India’s parliament to the president for approval, guarantees citizens a legal right to food. India has some of…
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East Asia
TPP free trade talks make strides forward as sensitive issues still remain
Japan, as one of the 12 countries involved in the U.S.-led Trans-Pacific Partnership (TPP) free trade talks, wrapped up the 19th round of talks in Brunei on Friday, while advances seemingly have been made on mutually- acceptable trade packages between the members, some pertinent issues still remain. Last month marked…
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West Asia
Asia stocks fallen after US Federal Reserve hints at stimulus phaseout
Asian stock markets fell Thursday after the U.S. Federal Reserve made it known that its top officials were leaning toward phasing out its massive stimulus program. The Fed released minutes of its July policy meeting Wednesday that showed most members want to slow down the pace of a massive bond-buying…
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