Although it shows much potential, Pakistan’s IT industry needs clear direction and a strategy for growth if it is to flourish.
Reposted from The Daily Times
By Salim Ghauri
Pakistan is in a very exciting and decisive stage. Decisions taken now will have a far-reaching impact on our future. Politically things can’t be any better to steer our economy in a new direction. The need of the moment is to invest in gradually moving Pakistan away from an industrial base to a service based economy. IT Industry is a service industry that can provide a significant boost to our economic growth in next ten years.
The IT industry can play a major role in bolstering the economy of Pakistan as demonstrated by countries like India, Philippines and Singapore. Unlike other industries the Information Technology industry does not require heavy machinery, elaborate infrastructure or sophisticated tools. It is mainly dependent on capable people. The Pakistani IT industry is beginning to come of age and is strongly emerging as a global IT destination. More…
Sri Lanka is still on track for a high growth rate this year despite several setbacks.
Reposted from Lanka Business Online
Sri Lanka is expecting 7.5 percent growth this year despite a slowdown in exports, and adverse weather hitting fisheries, Central Bank Governor Nivard Cabraal said.
Cabraal said gross domestic growth in the first quarter is expected to be close to 6.0 percent.
“If we have that number our 7.5 percent number could be reached,” Cabraal told foreign correspondents in Colombo.
“That was the highest base (quarter) in the previous year. So if we have six or close to six percent it will give us the confidence to keep our numbers without a change.” More…
Reposted from Republica
Those who are closely watching the country´s macro economic situation do not believe that the government will meet the target without giving a boost to economic activities and reforming tax system.
By Prabhakar Ghimire
The government has set an ambitious target of achieving 6 percent economic growth and increasing revenue by 35 percent in the coming fiscal year, despite slowdown in industrial growth due to labor unrest, persisting energy crisis and worsening industrial security, and low-performing agriculture sector.
The high growth target has been set, up from projected growth of 3.63 percent for this fiscal year ending mid-July, even though the country is unlikely to see significant improvement in economic activities in the coming fiscal year. More…
Reposted from The Conversation
By Alessandro R. Demaio
A few weeks back, at the World Health Assembly, World Bank President Dr Jim Kim said the world is at a crossroads when it comes to health. A defining moment in history, from which our future trajectory will be decided.
Not many nations better embody this concept, than Mongolia. More…
Qld Premier Campbell Newman and PNG Prime Minister Peter O’Neil
Reposted from ABC News
By Malinda Howells
Queensland Premier Campbell Newman says he has discussed health, policing and business opportunities during a two-day trade trip to Papua New Guinea (PNG).
Mr Newman has signed a memorandum of understanding with PNG Prime Minister Peter O’Neill.
The two leaders have agreed there will be face-to-face talks between Queensland and PNG every six months.
Reposted from The Cambodia Daily
Government action will be needed to ensure that nearly two decades of impressive economic growth continues in Cambodia, the International Monetary Fund (IMF) said in a report published Wednesday.
In its 2013 World Economic Outlook, the IMF put Cambodia’s gross domestic product (GDP) growth for 2012 at 6.5 percent.
While the IMF has a positive outlook on Cambodia’s economy, its growth figure falls below the government’s stated growth rate for last year of 7.3 percent, a figure with which the World Bank this week concurred. More…
Reposted from The Himalayan Times
A slower growth rate of Nepal’s major trade partner India has affected the Nepali economy.
KATHMANDU: The International Monetary Fund (IMF) has projected three per cent growth rate for Nepal in 2013 — the lowest in the last one decade.
International Monetary Fund is the third agency that has predicted a gloomy outlook for the Nepali economy in the current fiscal year. More…
Reposted from The Economist
THIS week’s leader on the Dow points to the vast gulf between the performance of the US stockmarket and economy on the one hand, and the Chinese economy and the stockmarket on the other. Although it is often assumed that the domestic economy is the main driver of the stockmarket, it usually isn’t. A study by Bank of New York Mellon of the relationship between US GDP growth and the S&P 500 between 1970 and 2012 found virtually no link (an r-squared of 0.0146). More…
Reposted from The Nation Multimedia
SET-listed Charoen Pokphand Foods Plc (CPF) is ramping up its investments in Laos and Cambodia.
Charoen Pokphand Foods is preparing to invest more in Laos and Cambodia to set up feed mills and livestock farms. CP Laos and CP Cambodia are investing a combined Bt250 million to set up a new silo for maize in Cambodia and a new feed-meal plant in Laos to strengthen CPF’s integrated agricultural-industrial business as the Asean Economic Community (AEC) approaches. More…
Reposted from The UB Post
By B. Byambadorj
At a press conference on Monday ‘The Report: Mongolia 2013’ was unveiled at the Kempinski Hotel Khan Palace.
The Report: Mongolia 2013 sheds light on Mongoia’s foreign investment laws that are causing current concerns. The Report also provides key information on the state of Mongolian infrastructure, capital and expertise to investors.
Regional Editor Paulius Kuncinas said that Mongoia’s exports of coal, copper and iron should rise on the back of a favorable global outlook for commodities. More…