Ethiopia’s economy has been expanding at an average annual rate of 10 per cent in the 12 years to 2016 and growth is expected to remain strong in the years ahead, supported by higher agricultural production, and large public sector and foreign direct investments. Read more
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The productivity gap between top performing regions and others has widened by almost 60 per cent in two decades, according to a new OECD report released this week.
The difference in labour productivity between the top 10 per cent most productive OECD regions and the bottom 75 per cent grew from $15,200 to $24,000, in average GDP per worker, between 1995 and 2013. Read more
The OECD has found that although inequality across different OECD countries has narrowed in the last 20 years, within their own borders countries are witnessing increasing inequality. Mexico has the widest the gap between the richest and the poorest regions in terms of per capita GDP.
Soaring demand for designer clothing, leather goods and high-end jewellery is expected to drive sales of luxury items in India and Indonesia up more than half over the next four years. The luxury trade is predicted to rally in China and Russia, and grow steadily in Mexico and Brazil.
According to recent estimates from the Committee for a Responsible Federal Budget, a bipartisan budget watchdog group, Hillary Clinton’s economic plans would increase the US’s national debt by $200 billion over a decade above current law levels, while Donald Trump’s plans would increase the debt by $5.3 trillion.
A recent poll showed only 6.8 per cent of the public has a favourable opinion of Farc, the Colombian rebels who had vowed to disarm and integrate in political and civilian life if the peace deal passed in a landmark referendum. Colombia’s Catholic Church refrained from endorsing the deal.
Nine out of ten of the universities with the largest number of Nobel laureates are in the US, with University of Cambridge (UK) being the only exception. Harvard University has produced the most Nobel laureates, most of them in physics and chemistry, since the first prize was awarded in 1901.
Nearly 39,000 Muslim refugees entered the US in fiscal year 2016, the highest annual intake since public records began in 2002. The majority were displaced by conflicts in Syria and Somalia. Muslims made up more than 45 per cent of the 84,995 refugees admitted, just shy of the government-imposed ceiling of 85,000.
Investment in Europe, both public and private, dropped dramatically following the international financial crisis, and in its aftermath growth has been weak in some countries and non-existent in others. The lack of investment growth is particularly worrying in peripheral countries where it hampers the chances of future economic and productivity growth, as well as limiting employment expansion.
Just how steep was the drop? Read more
The upcoming Italian referendum includes reforms on cutting the number of senators from 315 to 100 and streamlining the lawmaking. Italy’s parliament, with 945 deputies and senators, is larger than that of most countries.
Close to 72 per cent of primary and secondary school teaching roles in the European Union were held by women in 2014, according to new Eurostat data released ahead of National Teachers’ Day.
The IMF revised down the world economic growth forecast for this and next year but confirmed strong growth forecasts for the Asean nations. Indonesia is expected to expand at 5.3 per cent next year, higher than the regional average, which means continuing a long period of fast and stable growth.
Small and midsized UK businesses remain concerned about the economy, according to the Future of Business Survey, a new measure of business sentiment from Facebook, the World Bank and the Organization for Economic Cooperation and Development.
The trio surveyed 90,000 small and medium-sized companies across 22 countries using the world’s largest social network. Read more
Vietnam’s textile, fabrics and clothing exports rose strongly after it joined the WTO in 2007. Last year Vietnam was the world’s eighth largest exporter, reaching a global export share just 1 percentage point below that of China.
People aged over 55 account for 38 per cent of tourists staying overnight in EU countries. The share is even higher in France but Italy and the UK have slightly younger tourists. Most of Malta’s tourists are under 35.
Pew’s latest survey of the American electorate has found that a major factor in candidate support is disliking the opponent. For Trump supporters, opposition to Clinton is among the most frequently cited factors, followed by his status as a political outsider and his policies.
About two-thirds of Indians are satisfied with the direction of the country, up from less than a third in 2013. An even higher proportion is happy about the state of the Indian economy and has favourable view of Narendra Modi, the prime minister.
There are large differences among EU countries in the use of financial products. About eight in 10 adults in Denmark and France own a credit card compared with fewer than one in three in Italy and Portugal, according to data from Eurobarometer.