World Bank

Dewa commissions 15 substations worth $471m

Dubai Electricity and Water Authority (Dewa) has commissioned 15 132/11 kV substations as of May 20 at a total cost of AED 1.73 billion ($471 million), supporting the ambitious national development plans. The substations are located in Salal, Saih Al Shuaib, Expo 2020, Warsan 1, Sheikh Mohammed bin Rashid Gardens, Palm Jumeirah, Al Markad, Nad Al Hammar, Business Bay and Zabeel 2. “Dewa is providing advanced infrastructure to meet the increasing demand for energy and water use in Dubai and…

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Philippine economy on bullish growth trajectory

Backed by an ambitious infrastructure program and comprehensive reforms, the Philippine economy is expected to grow by 7 percent next year, forecast the country’s top envoy to Korea last week, citing the International Monetary Fund. “The Philippines is enjoying not only freedom but also prosperity,” Ambassador Raul Hernandez said at a reception in Seoul on Thursday marking the 120th anniversary of the Philippines’ declaration of independence from colonial Spain. “Last year, amid global uncertainty, the Philippine economy registered an impressive…

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Buhari Administration is Transforming Nigeria, Says Mohammed

The Minister of Information and Culture, Alhaji Lai Mohammed, has said the President Muhammadu Buhari’s administration is steadily transforming Nigeria through innovative measures that are yielding positive results. In a keynote address he delivered at the 2018 ‘Africa Together Conference’ at the University of Cambridge, United Kingdom at the weekend, the minister listed investment in people, changing the business environment and building national infrastructure as some of the areas in which Buhari has made a great impact. He said by…

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Scoop Business » Renewed calls for sugar, tobacco and alcohol taxes

Press Release – Massey University A Massey University professor is among an international group drawn from academia and international agencies, including the Word Bank, United Nations (UN) and World Health Organisation (WHO), calling for taxes on sugar, tobacco and alcohol in order …Renewed calls for sugar, tobacco and alcohol taxes A Massey University professor is among an international group drawn from academia and international agencies, including the Word Bank, United Nations (UN) and World Health Organisation (WHO), calling for taxes…

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Mumbai: 40% drop in number of fatal accidents over 2 years | Mumbai News

MUMBAI: The number of fatal accidents in the city dropped by 40% in the first five months of this year compared to the same period in 2016. The traffic police attribute the drop to better vigil and enforcement at the ‘black spots’ or chronic accident points identified by them. An increased crackdown on drunk driving and speeding has also made a difference, said officials. Overall, the number of accidents, including minor crashes, has reduced by 13% during the same period.…

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FEATURE-Webcam slavery: tech turns Filipino families into cybersex child traffickers

MANILA, June 18 (Thomson Reuters Foundation) – It was the half-naked girls running from room to room upon her arrival that made Filipina teenager Ruby fear the cyber cafe job she had been offered online might in fact be a sinister scam. Ruby’s doubts turned to despair when her new employers – a husband and wife – dragged her in front of a computer and webcam and explained that her work would entail stripping and performing sex acts for paying…

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Make infrastructure a priority in Africa by taking bold steps

Columnists Sunday, June 17, 2018 22:00 By EMEKEE. IWERIEBOR | A cargo train arrives at the Inland Container Depot, Nairobi. President Uhuru Kenyatta recently launched the Facility. Photo | PSCU  A strong, if not pervasive, theme on infrastructure in Africa is one of minimal existence, or lack of infrastructure. Reference is often made to the age and decay of infrastructure. For example, it is highlighted that many railway lines in Africa were built over a century ago. This theme of…

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The World Bank is finding new ways to understand South Africa’s issues

The latest World Bank report on South Africa is not only remarkable for the collaborative method it employed, but also for some of the conclusions it reached on issues like land redistribution. The report, which includes contributions from a long list of external consultants including myself, the National Planning Commissionand Statistics South Africa, is the platform for further engagement between the World Bank and South Africa. In the 1970s and 1980s, the World Bank earned a justifiably bad reputation for…

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The folly of East versus West, and the rise of ‘The Rest’

“East is East, and West is West, and never the twain shall meet,” goes the oft-quoted verse by Rudyard Kipling. Seldom mentioned, however, is his following negation: “But there is neither East nor West…when two strong men stand face to face, tho’ they come from the ends of the earth.” Discussions on the irrevocable differences between the West and East are hardly original, but in recent years we’ve seen a slew of publications posing the question of whether the East…

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Zimbabwe targets $65bn GDP by 2028

Zimbabwe is targeting to reach Gross Domestic Product (GDP) of US$65 billion by 2028 on the back of wholesale improvements in investment. Foreign investor interest in Zimbabwe has also grown markedly, largely by the improved investment climate brought under the new dispensation, Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya has said. The central bank supremo is buoyant about the rapid economic growth given that over US$20 billion investment commitments have been made in the first seven months of…

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Zimbabwe targets $65bn GDP by 2028

Zimbabwe is targeting to reach Gross Domestic Product (GDP) of US$65 billion by 2028 on the back of wholesale improvements in investment. Foreign investor interest in Zimbabwe has also grown markedly, largely by the improved investment climate brought under the new dispensation, Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya has said. The central bank supremo is buoyant about the rapid economic growth given that over US$20 billion investment commitments have been made in the first seven months of…

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Bad enough when two elephants make love, far worse war…

All markets need to be embedded in an economic policy framework to manage the inevitable gyrations which are characteristic of markets. This is necessary to prevent market failures of excess, or collapse driven by speculation, manipulation such as monopolies, overproduction, and underinvestment. Every Government seeks to perform this function in a variety of ways ranging from State-controlled economy to free market laissez faire. The problem of the management of the global economy is that there is no global Government to…

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Ogun people will return APC to power in 2019 — Ogun SSG :: Bestnaira.com

    By Daud Olatunji, Abeokuta Secretary to Ogun State Government, Taiwo Adeoluwa, speaks on the performance of the administration of Governor Ibikunle Amosun. •Taiwo Adeoluwa How has the journey been? The last seven years has been momentous. The Bible tells us that a man can work, a government can work, and a governor can do his bit, but that it is God who waters such an effort. The secret has been God. What was the situation like in Ogun…

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Hopes of a mining revival in oil-addicted Nigeria

The new oil? Locals have always known that a vast deposit of gold sits underneath the cocoa trees and towering thickets of bamboo in the tropical jungle of Osun state in southwest Nigeria. The country’s focus on oil has meant the gold has been ignored for decades. But the government is now looking to revive the moribund mining sector as it seeks to diversify revenues following the 2014 crash in global crude prices. A few companies are already venturing into…

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Climate Risk and Early Warning Systems Expends Worldwide

Goa (ABC Live): Climate Risk and Early Warning Systems : An international initiative to improve early warning systems against extreme weather and support climate change adaptation is gaining momentum to protect more people in more places. Financing has been extended to cover the Caribbean and West African regions. The Climate Risk and Early Warning Systems (CREWS) initiative, launched in 2015, has been operating in 19 countries in Africa and the Pacific. It is improving early warning systems…

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Now that Recession Rain is Over

The Muhammadu Buhari Administration has just completed its third year in office and entered  its last lap before testing its popularity with the electorate. Has the President done well? His Central Bank Governor Godwin Emefiele says his Principal has done well endorsing his economic growth plan with high marks. This is going by the indices of achievements it has attained from the CBN perspective and given the fact that the next phase is one of sustainable growth.  Indeed. ‘In The…

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