India will remain fastest growing economy; South Asia outlook poor: UN report

FILE PHOTO: A worker arranges food packets inside a retail store in Kolkata October 24, 2013. REUTERS/Rupak De Chowdhuri/File Photo

India will remain the fastest-growing major economy recording a growth of 5.8 per cent this year while the rest of the world will grow by a paltry 1.9 per cent, the UN said on Jan. 26, 2023. The UN’s World Economic Situation and Prospects (WESP) report sliced off 0.2 per cent from the 6 per cent gross domestic product growth projection made last May without affecting India’s rank as the country faces headwinds from the global economy Overall, the report said, “Growth in India is expected to remain strong at 5.8 per cent, albeit slightly lower than the estimated 6.4 per cent in 2022, as higher interest rates and a global slowdown weigh on investment and exports”. Next year, the UN expects India’s economy to grow by 6.7 per cent. The WESP gave a positive picture of India’s jobs scene, noting that its “unemployment rate dropped to a four-year low of 6.4 per cent in India, as the economy added jobs both in urban and rural areas in 2022”. For the world, the WESP forecast is 1.9 per cent this year and rising to 2.7 per cent next year. In New Delhi, India’s President Droupudi Murmu credited India’s economic performance to its leadership”. “India has been among the fastest-growing major economies because of the timely and proactive interventions of the government. The ‘Aatmanirbhar Bharat’ initiative, in particular, has evoked great response among the people at large,” Murmu said in her Republic Day speech. China, which came in second, is projected to grow by 4.8 per cent this year and 4.5 next year, after a 3 per cent growth in 2022. The US economy is projected to grow by 0.4 per cent this year and 1.7 per cent the next. For South Asia as a whole, the report said the region’s “economic outlook has significantly deteriorated due to high food and energy prices, monetary tightening and fiscal vulnerabilities” and it forecast a 4.8 per cent growth year and 5.9 per cent next year.This was buoyed by India as the report said, “The prospects are more challenging for other economies in the region. Bangladesh, Pakistan and Sri Lanka sought financial assistance from the International Monetary Fund (IMF) in 2022”.India will remain fastest growing economy; South Asia outlook poor: UN report

Read More........ → March 14, 2024

Russia slams leakage of IAEA report on Iran

Russia has condemned to the leak of the International Atomic Energy Agency's (IAEA) confidential report on Iran's nuclear program. 

"Yet another confidential #IAEA report on #Iran was leaked to mass media immediately upon its circulation in Board of Governors," Russian Ambassador and Permanent Representative to the International Organizations in Vienna Mikhail Ulyanov wrote in his Twitter account on Friday. 

"The Ambassador of Iran in his Twitter account has already reacted by suggesting to strengthen mechanisms of confidentiality. Good idea but will it help?," Mr. Ulyanov added. Earlier, Iranian Ambassador and Permanent Representative to the International Organizations in Vienna Kazem Gharibabadi in a Twitter message said: "@iaeaorg confidential report, based on Iran's confidential letter, appeared in Media immediately even before the BoG Members could track it down. Agency is not merely responsible to update the development, but shall ensure confidentiality of safeguards information." Source: https://www.daily-bangladesh.com/a>

Read More........ → December 08, 2020

800-page report shows how Tarrant eluded detection

New Zealand’s Royal Commission on Tuesday submitted a comprehensive report into last year’s Christchurch mosque shootings in which 51 Muslim worshippers were killed.

The nearly 800-page Royal Commission of Inquiry report shows that the attacker, Brenton Tarrant, kept a low profile and told nobody of his plans.

It concludes that despite the shortcomings of various agencies, there were no clear signs the attack was imminent aside from the manifesto Tarrant sent out just eight minutes before he began shooting, which came too late for agencies to respond.

But the report does detail failings in the police system for vetting gun licenses and says that New Zealand’s intelligence agencies were too alert on the threat posed by Islamic extremism at the expense of other threats.

Among 44 recommendations, the report says the government should establish a new national intelligence agency.

In 2019, 51 Muslims were killed in a terrorist attack on two mosques in Christchurch by a man named Brenton Tarrant.In August, the 30-year-old Tarrant was sentenced to life in prison without the possibility of parole after pleading guilty to 92 counts of terrorism, murder, and attempted murder. https://www.daily-bangladesh.com/

Read More........ → December 08, 2020