The World Bank cut its economic growth forecasts for the East Asia and Pacific region on Monday and said there was a risk the slowdown in China could worsen and last longer than many analysts have forecast.Unlike the rest of the region, China is experiencing a double whammy — the growth slowdown is driven by weaker exports as well as domestic demand, in particular investment growth.The World Bank, like many economists, still expects China to have a soft landing as seen from the bank’s revised 7.7 percent growth forecast for this year and 8.1 percent for next year.The World Bank released its latest East Asia and Pacific Data Monitor, warning China’s that slowdown could accelerate.In the report, the international lender said that ambitious investment plans announced by several local governments in China could face funding constraints. The World Bank said the central government was unlikely to come up with a major fiscal stimulus package as policymakers were concerned about a rebound in home prices and a possible reversal of hot money flows.Nevertheless, the bank expects growth in China to pick up in 2013, helped by monetary policy measures introduced earlier this year and an acceleration of central government investment spending.The World Bank had earlier this year forecast 8.2 percent GDP growth for China in 2012 and 8.6 percent in 2013.For the region as a whole, the World Bank now expects developing East Asia to grow by 7.2 percent this year and 7.6 percent in 2013, down from earlier estimates of 7.6 percent and 8.0 percent, respectively. This is the slowest growth rate in the Asia Pacific region since 2001. It’s even slower than the peak of the financial crisis in 2009.The World Bank last week cut its 2012 growth forecast for sub-Saharan Africa to 4.8 percent from 5.2 percent, and lowered its outlook for Latin America to 3 percent from the previous 3.5 to 4 percent, citing the global economic slowdown.Economic projections for EAP (East Asia and Pacific) are surrounded by considerable uncertainties, and a variety of risks continue to loom over the global and regional economy.
Monthly Archives: May 2013
Europe’s largest economy, Germany, which has been criticized for not doing enough to help struggling euro zone countries, has topped a poll as the world’s most popular country.The survey, carried out for the BBC, polled 26,000 people in 25 countries and asked them to rate 16 countries and the European Union as a whole on whether their influence on the world was mainly positive or negative.Germany came out on top, with 59 percent of survey participants giving it a positive rating. The country moved up three percentage points from its 2012 position. It displaced Japan, which saw its positive rating fall from 58 percent last year to 51 percent, going from first to fourth place.The most negatively perceived country was Iran, with only 15 percent of respondents giving it a positive rating. Pakistan and North Korea also received low ratings.Germany’s increased popularity was helped by positive reviews from people in Spain, France, Ghana and Australia. But in debt-laden Greece a majority of people polled gave Germany negative ratings.Other countries that saw a boost ratings included the UK, which climbed to No. 3 in the table following its hosting of the 2012 Olympics.China and India proved less popular, however. After improving for a number of years, their ratings fell sharply this year. China sank to the ninth position, with 42 percent of the respondents giving it a positive rating. India was ranked No. 12, with 35 percent of those polled saying their perception of the country was negative, while 34 percent viewed it positively.
Indian movie actors and a new wave of directors are on a mission at the Cannes film festival – to show that their industry, which turns 100 this year, is more than just Bollywood.The largest Indian contingent to date is on the French Riviera at the world’s leading cinema showcase to promote their country, which has the world’s biggest film industry, making over 1,000 films a year compared to about 600 in Hollywood.Movies from Mumbai-based Bollywood and other regional India films have struggled at the global box office with Indian cinema largely dismissed as lengthy, song-and-dance numbers.
The Indian Cinema industry sees the 66th Cannes festival, where India is “guest country” to mark its centenary, as a chance to showcase a new genre of Indian movies globally and to promote India as a place to both make films and win a massive audience.The Indian visitors to Cannes are also keen to lure investment to their film industry, which is forecast to grow to $5 billion by 2014 from $3.2 billion in 2010, according to a report by Ernst & Young. India’s presence has been high-profile since the start of the 12-day festival with acting legend Amitabh Bachchan on the red carpet on opening night to mark his Hollywood debut in Baz Luhrmann’s “The Great Gatsby” alongside Leonardo DiCaprio.Actress Vidya Balan also walked the red carpet in the pouring rain that night as one of nine members of a jury led by U.S. filmmaker Steven Spielberg that will decide the coveted Palme D’Or award for best picture on the final day, May 26.A gala dinner to mark Indian cinema’s centenary was due to be held on Sunday and attended by a list of stars including actresses Aishwarya Rai Bachchan, Sonam Kapoor and Freida Pinto.There is no Indian film in either of the two main competitions at Cannes. The last Indian film selected to vie for the coveted Palme D’Or was “Swaham” in 1994 while “Udaan” competed in Un Certain Regard for emerging filmmakers in 2010.But four Indian films will be screened – “Monsoon Shootout”, another thriller “Ugly”, a tribute to the industry centenary called “Bombay Talkies”, and love story “Dabba” (Lunchbox).In 2011 India saw a 42 percent jump in the number of Hollywood movies shot there with several Hollywood studios such as Disney , News Corp’s Fox , and Sony <6758.T> entering deals with or buying stakes in Indian companies.There has also been a surge in the number of Hollywood movies released in India, where 3.6 billion film tickets were sold last year. Hollywood studios have been releasing their films in India simultaneously with their North American releases and also dubbing films in various regional Indian languages.
India’s plan to give millions cheap food will cost more than its forecast of Rs 1.3 trillion (USD 23.8 billion) a year and will accelerate inflation, a leading adviser on food issues for the government said in an interview.The bill aims to provide subsidized wheat and rice to 70 percent of the 1.2 billion people in India, home to 25 percent of the world’s hungry poor, according to a UN agency, despite being one of the biggest producers of food supplies.The Congress party, which leads the coalition government, is pushing to pass the National food Security Bill before elections, which are due by May 2014.But the government’s own estimates say the bill would increase India’s annual food subsidy by 45 percent, threatening to add to an already hefty fiscal deficit. Critics say it is little more than an attempt to divert attention from corruption scandals involving the government. Calculation is that (Rs 1.25 trillion) is front-end subsidy. There are many costs that have not been counted.Food Minister KV Thomas has said the bill could cost Rs 1.2-1.3 trillion a year. The budget for the current year ending March 31, 2014 sets aside Rs 900 billion as the bill still awaits passage by parliament. Gulati, who advises the government on prices to pay farmers for their crops, said large-scale state grain purchases to meet commitments under the bill would lead to higher inflation.
Ybrant Digital always focus on growth, both organic and inorganic. Company’s growth has been enormous in the last five years and its inorganic growth has also important role to play in this. Ybrant digital’s business expansion through acquisitions and mergers had gone extremely good and strategic than any other company with 90% success rate. Following are the key acquisitions Ybrant underwent in the recent years.
– Ybrant acquired Lycos for US$ 36 million in 2010, which is now its wholly-owned subsidiary.Lycos is the leading search-based Internet media and broadband content provider. It averages 12-15 monthly unique visitors a month in the US and is a top-25 Internet destination, reaching 60 million unique visitors globally.
– Ordian is Ybrant’s international ad network brand, conducting local sales and site-speciﬁc representation in Europe, North America, Latin America, Israel, Argentina, Germany, India and the UK. It is accredited by the Internet Advertising Sales House (IASH) and enables premium websites to monetize their international trafﬁc in more than 40 countries.
– Ad Dynamix is an interactive ad network offering customized campaigns and conducts advertisement deliveries for the US market and specializes in performance-based advertising.
– MediosOne has an online ad network in South America, Europe and India and assists advertisers, publishers and agencies with graphical and contextual banners. It aids in demographic targeting and reaching out to users native languages.
– Dream ad is a leading ad network company specialized in Internet media and possesses an exclusive sales house for Microsoft advertising in Latin America.
– Max Interactive specializes in banner based web advertising and mobile. This strategic acquisition has helped Ybrant enter the attractive AsiaPaciﬁc market.
The government which introduced amendments to the landmark Food Security Bill in the Lok Sabha could not get it passed as opposition stalled proceedings in the House over killing of Sarabjit Singh in Pakistan and other issues.Food Minister K V Thomas moved amendments to the National Food Security Bill, which was originally introduced in Parliament in December 2011, but no discussion on it could take place as the Opposition-led by BJP persisted with protest over Sarabjit Singh’s death.The cause was also not helped as other members raised issued like Chinese incursion and coalgate scam, forcing adjournment of the House for the day without passage of the measure.Major changes in this bill include doing away with priority and general classifications of beneficiaries and providing uniform allocation of 5 kg food grains (per person) at fixed rate of of Rs 3 (rice), Rs 2 (wheat) and Rs 1 (coarse grains) per kg to 67 per cent of the country’s population. Protection to 2.43 crore poorest of poor families under the Antodaya Anna Yojana (AAY) to supply of 35 kg food grains per month per family would continue.That apart, nutritional support to pregnant women without limitation are among other changes proposed in the Bill. At the proposed coverage of entitlement, total estimated annual foodgrains requirement is 61.23 million tonnes and is likely to cost the exchequer Rs 1,24,724 crore.