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eTurboNews

02-01-2008

Globe 2008

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Thursday, January 31, 2008

 

   

 

Dear eTurboNews reader,

 

China and India are two Asian Asian economic giants that have been placed among the world's leading trading countries along with perennial giants the US and Japan. This finding is based on a study by the Institute of Management Development, in its 2007 World Competitiveness Year Book 2007 report for countries with populations of more than 20 million. For more on the details of this report, click to today's lead story, reported by Yusof Sulaiman.

More details have surfaced on the killing of two Germans in Kenya. It is not being reported that the deaths are not related to the political unrest that Kenya has been going through, Wolfgang H. Thome gives us the latest developments in todays second story.

Thank you for making eTurboNews the dynamic forum that it is. Be sure to share your thoughts on any of todays stories by sending an email to the address: editor@eturbonews.com  or by filling out the comment form located at the end of each story.

Have a great Thursday!

Sincerely,

Nelson Alcantara
Editor-in-Chief

'Asian Decade' emerging under the dark clouds of world economic woes

By Yusof Sulaiman

 

(eTN) - Following the onslaught of economic woes and banking losses in so-called matured economies and as Asian behemoths China and India becomes world economic powerhouses, is the world finally seeing the emergence of an "Asian Decade?"


According to a study by the Institute of Management Development, in its 2007 World Competitiveness Year Book 2007 report for countries with populations of more than 20 million, Asian economic giants China and India are placed among the world's leading trading countries along with perennial giants the US and Japan.

 

World economists believe, with an economy even larger than China and India, Japan is the "best positioned in Asia" to act in the market place.

 

Dismissing the global financial turmoil in the Japanese parliament, Japanese Prime Minister Yasuo Fukuda said it did "not come from the actual conditions of Japan's economy.

 

Meanwhile, with emphasis on development during its current ninth Malaysia Plan, tiger economy Malaysia is rated fourth for business efficiency and tenth for infrastructure development in 2007. It is the eight most competitive country, and nineteenth among the world's leading trading nations.


"Our target is to eradicate poverty," said Malaysian Prime Minister Abdullah Badawi. "By 2010, there will be no more poor people in Malaysia. "We have gained world recognition alongside developed countries, including the US and Japan."

 

Noted economics professor Jeffrey Sachs, who has been a staunch supporter of Malaysias efforts in poverty eradication, said Malaysia has surpassed those carried out by countries in "similar circumstances. He said, The Malaysian plans are more detailed, in-depth and targeted."

 

Despite the current stock market volatility and credit crunch in the US, Singapore's government is optimistic its economy is "on track" to grow by 4.5 percent in 2008.

 

"If the US economy goes into recession for one or two quarters, it will have an impact on growth elsewhere," said Goh Chok Tong, former prime minister. "But Singapore is not too dependent on the US economy."

 

Kamal Nath, Indian minister of commerce and Industry who was at the recently concluded World Economic Forum (WEF) in Davos, Switzerland, said, "This is the first time the world is looking at a possible American recession with two engines of growth, China and India. The momentum of growth is increasing year by year, and it will take a great recession to stop this momentum."

 

Harvard University economics professor Richard Cooper, countering the doom and gloom at the Davos World Economic Forum, was quoted by the International Herald Tribune saying the US economy is slowing, but it would not fall into a recession.

 

"I doubt consumers really would cut back so sharply as to bring down the economy."  Full story>>

Death of two Germans unrelated to Kenyas political violence

By Wolfgang H. Thome  

(eTN) - The killing of two German citizens at the South Coast of Mombasa is evidently not connected to the present post-election violence, which some parts of Kenya have suffered from over the past weeks.

 

The two victims, a German businessman living in Kenya and his visiting friend from Germany, were attacked and killed at the residence of the business man in either an outright robbery attempt or as part of the usual speculation over such incidents a result of a possible business dispute or rivalry. The wife of the visitor from Germany was also injured in the attack but is recovering at a hospital in Mombasa.

 

It should be stressed, that due to the ongoing close liaison between the tourism private sector and security organs, and through regular updates to safari companies on the actual situation on the ground along key airport and safari routes, the Kenya Tourism Federation (KTF) and the Kenya Association of Tour Operators (KATO) have so far successfully managed to keep all tourists out of harms way. Full story>>

Airline association to take Dutch government to court over environment tax

 

AMSTERDAM (forbes.com) - The Board of Airline Representatives in the Netherlands (Barin) is taking the Dutch government to court to challenge the environmental tax set to take effect July 1, an Air France-KLM spokesperson told Dutch daily NRC Handelsblad.

 

The court case is expected to begin March 5, with Schiphol Group perhaps also slated to join, the report said.

 

The Dutch government decided last year to put a environmental tax on airline tickets: 11.25 euro per flig
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