News 2010

ICPE Member States News (13.5.2010)

Albania

Albania, Swiss Governments sign two cooperation agreements to promote education (Balkans.com): Albanian Minister of Education and Science, Myqerem Tafaj, Albanian Minister of Labour, Social Affairs and Equal Opportunities, Spiro Ksera, and Ambassador of Swiss Confederation in Tirana, Yvana Enzler, signed two cooperation agreements between the two countries to promote education in the country.

Albanian Minister of Finance invites investors to support the First Albanian Financial Development Company (Balkans.com): The First Albanian Financial Development Company (FAF-DC), was recently founded as the successor of the Mountain Areas Finance Fund (MAFF) and 100% owned by the Republic of Albania, and represented by the Minister of Finance of the Republic of Albania, invites the participation of strategic investors.

Albania reportedly to be part of NATO missile shield (SETimes.com): Albania may be included in a list of countries where NATO's missile defence shield will be deployed, local media reported on Sunday (May 9th). According to diplomatic sources, NATO is looking into whether to include Albania alongside Poland, Romania and Bulgaria. The issue was discussed last month when NATO Secretary-General Anders Fogh Rasmussen made his first official visit to Albania and Croatia. Prime Minister Sali Berisha assured him Albania is prepared to meet all its obligations as a NATO member, including hosting the shield on its territory.

Algeria

Number of SME increasingly growing in Algeria (Algerian Press Service): The number of SME (small and medium-sized companies) created in 2009 increased by 15%, compared with 10% in the preceding years, Minister of SME and Crafty Industry Mustapha Benbada said Wednesday. In an opening address at an assessment meeting, the minister said the increase (30,000 small and medium-sized companies a year) is mainly due to the various measures taken by the authorities, over the past ten years, in terms of financing, upgrading and development in favour of such companies. By late 2009 there were some 455,000 private SMEs and more than 590 state-owned, he underlined.

Orascom Tel Q1 profit falls, Algeria woes persist (Reuters Africa): Egyptian telecoms firm Orascom Telecom on Wednesday said its net profit tumbled in the first quarter of 2010, lagging forecasts after start-up costs in Canada and troubles in Algeria hurt its bottom line.

Bangladesh

SingTel, Bharti look to tie together Bangladesh units (The Economic Times): Singapore Telecommunications said on Thursday it was looking at the possibility of tieing together its and Indian associate Bharti's units in Bangladesh.

India lifts wheat export ban (bdnews24.com): Indian has partially lifted a ban on wheat export to facilitate its supply to Bangladesh.

MSCI to add Bangladesh to Frontier Markets Index (Reuters) - Bangladesh will be added to the MSCI Frontier Markets Indices from May 26 following a semi-annual review that also sees the introduction of a stand-alone country index for Bosnia-Herzegovina, index compiler MSCI Barra said late Monday.

BiH

Bulgarian FM in Bosnia and Herzegovina on Western Balkans tour (SofiaEcho.com): Bulgarian Foreign Minister Nikolai Mladenov was headed for Bosnia and Herzegovina on May 12 2010 in the latest stage of his Western Balkans roadshow, a series of visits to countries of the region to put forward Bulgaria’s willingness to assist them in their efforts towards European integration.

DRC

Iran, Congo agree to expand ties (Press TV): Iran and the Democratic Republic of Congo will expand relations in line with the Islamic Republic's new priority of developing better ties in Africa.

Zijin Says China, Congo Will Probably Approve Deal (Bloomberg): Zijin Mining Group Co. said the governments of the Democratic Republic of Congo and China will probably approve its joint $284 million bid to buy copper mine developer Platmin Congo once a “misunderstanding” is resolved.

Congo Oil Proposals Would Short-Change Country (The Wall Street Journal): Proposed oil contracts between U.K.-listed companies and Congo's government would short-change the country, U.K.-based research and advocacy group Platform said Wednesday, but company and government officials said the critique was off the mark.

Guinea

Guinea telecom industry "is flourishing" (Afrol.com): Further international companies are investing in the rapidly growing telecommunications industry of Guinea, where mobile phones and internet is extending outside the capital, Conakry.

Guyana

Huge China loan for GPL transmission system inked (Stabroek News): Minister of Finance Dr Ashni Singh on Monday signed another agreement with the Chinese government for a US$39.6M loan that will be used on an Infrastructural Development Project for the Guyana Power and Light (GPL).

China, Caribbean Nations Pledge to Boost Pragmatic Cooperation (Crienglish): China and nine Caribbean countries Monday vowed to step up pragmatic cooperation during the fourth consultation between the foreign ministries of the two sides.

India

India can gain from the crisis (Business Standard): When the economic crisis hit Asia in the late 1990s, the prescription given by the International Monetary Fund and the Western countries was to cut deficit, raise rates, devalue currency, raise taxes and open up the economy. This resulted in a lot of pain but Asia restructured and exported itself out of trouble in less than a decade. Today, Asia is an oasis in the global desert in terms of fiscal and current account surplus.

India’s Industrial Production Grew 13.5% in March (Bloomberg): India’s industrial production grew more than 10 percent for a sixth straight month, adding to inflation pressures even as Europe’s debt crisis threatens to undermine the global economic recovery.

Rising India Food Prices Signal Tighter Policy (The Wall Street Journal): India's food inflation snapped its two-week easing streak and rose sharply in the seven days through May 1, raising chances of aggressive tightening by the central bank to keep a lid on prices.

Indian shares rise 0.7 pct; banks lead gains (Reuters): Indian shares climbed 0.7percent on Thursday as confidence returned to world markets,with financials leading the way on hopes a growing economy will boost demand for loans.

Macedonia

IMF projects 2% growth for Macedonia (MINA): The economic growth of Macedonia will be two percent this year, whereas in 2011 it will amount to three percent, states the annual projection of the International Monetary Fund (IMF), according to which Macedonia recorded negative growth rate of 0.7 percent last year.

FYROM: No to IMF; Yes to Eurobond (Balkans.com): Prime Minister Gruevski, on Monday, stated that FYR Macedonia thus far had no need to sign an arrangement with the International Monetary Fund (IMF). Therefore, the Government had decided to issue Eurobond, which last year gave positive results.

Syria

Al-Dardari: Future Investment focuses on infrastructure, energy and electricity (SANA): Deputy Prime Minister for Economic Affairs Abdullah al-Dardari said on Wednesday the Syrian economy is governed by administrative and legislative economic system which created economic structure that laid the ground for launching a competitive economy, freedom of trade and financing.

Minister of Tourism, German Delegation Discuss Cooperation in Tourist Investment, Promotion (SANA): Minister of Tourism Saadalla Agha al-Qalaa discussed on Wednesday with a delegation representing the German' TELKA' Investment Group means for cooperation in the fields of tourist investment, promotion and exchange.

Tanzania

Tanzania, US Oil Co Plan Pipeline, 200,000 B/D Refinery (Wall Street Journal): U.S.-based Noor Oil & Industrial Technology Inc. is planning to construct a 200,000 barrels a day refinery and an oil pipeline in Tanzania to supply refined fuel products to the domestic and regional markets, the company said Wednesday.

Zambia

China Development to Offer $5 Billion Zambia Loans, Zanis Says (Bloomberg): China Development Bank Corp., the nation’s largest state-owned policy bank, will provide $5 billion of loans to companies involved in Zambia’s mining sector under an agreement signed between the two countries yesterday, the official Zambia News & Information Services said on its website.

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