DUBAI: The International Monetary Fund on Sunday (Feb 10) warned governments to gear up for a possible economic storm as growth undershoots expectations. International Monetary Fund (IMF) Managing Director Christine Lagarde attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland, photo AFP "The bottom-line - we see an economy that is growing more slowly than we had anticipated," IMF managing director Christine Lagarde told the World Government Summit in Dubai. Last month, the IMF lowered its global economic growth forecast for this year from 3.7 per cent to 3.5 per cent. Lagarde cited what she called "four clouds" as the main factors undermining the global economy and warned that a "storm" might strike. The risks include "trade tensions and tariff escalations, financial tightening, uncertainty related to (the) Brexit outcome and spillover impact and an accelerated slowdown of the Chinese economy", she said. Lagarde said trade tensions - mainly in the shape … [Read more...] about IMF warns of global economic “storm” as growth undershoots
How to attend the world economic forum
Has he made the world a better place? AFP/Fabrice COFFRINI His foundation, which hosts many of the world's most powerful, famous and wealthy people at its annual meeting in the Swiss ski resort of Davos, has clearly made an impact. But questions have grown about whether the organisation is meeting its declared goal of "improving the state of the world", with resentment rising against the pro-business Davos agenda, and voters turning instead to populist leaders. One persistent criticism is that WEF meetings, including this week's main annual gathering in Davos, have simply created a safe space for the corporate world to lobby governments without oversight. Schwab was not available for an interview with AFP but the WEF's managing director, Adrian Monck, said in an email that the organisation "subscribes to the highest standards of governance". "FRAGILE AUTHORITY" Schwab, born in Ravensburg, Germany, in 1938, was a little-known business professor at the University of Geneva when in … [Read more...] about Has Davos made the world better?
He will sending Vice President Mike Pence in his place, the White House said on Friday, an announcement that will raise questions about his commitment to a regional strategy to counter China. Trump was invited to attend the U.S.-Association of Southeast Asian Nations summit and the East Asia summit in Singapore and also the Asia Pacific Economic Cooperation forum in Papua New Guinea. He had attended these events last November. White House spokeswoman Sarah Sanders said Trump asked Pence to represent him at the summits, where he will “highlight the United States’ vision of a free and open Indo-Pacific, based on respect for sovereignty, the rule of law, and the principles of free, fair and reciprocal trade.” Trump will travel to Paris to attend a November 11 commemoration of the 100th anniversary of the armistice that ended World War One. Trump had wanted a U.S. military parade in Washington but balked at price estimates. “While in Europe, the president also will … [Read more...] about Trump to skip summits in Singapore, Papua New Guinea; Pence to attend
Singaporean Ambassador to Vietnam Catherine Wong Siow Ping (Photo courtersy of Singapore Embassy) Hanoi (VNA) - Vietnam and Singapore will mark the 45h anniversary of their diplomatic ties on August 1. On this occasion, Singaporean Ambassador to Vietnam Catherine Wong Siow Ping granted an interview to Vietnam News Agency about bilateral ties. Followings are the full text of the interview. Please give your comment on Vietnam-Singapore relations over the past 45 years, especially after the two countries upgraded bilateral relations to strategic partnership in 2013 and Prime Minister Nguyen Xuan Phuc’s visit to Singapore in April this year. Singapore and Vietnam have a close and wide-ranging relationship underpinned by mutual trust, shared interests, and extensive cooperation both bilaterally and in multilateral fora. We share warm and friendly ties which are maintained through frequent exchanges at all levels. Prime Minister Lee Hsien Loong visited Vietnam twice … [Read more...] about Vietnam, Singapore continue to explore new areas of cooperation
Prime Minister Nguyễn Xuân Phúc (r) receives President of the World Economic Forum (WEF) Borge Brende in Hà Nội yesterday.– VNA/VNS Photo Thống Nhất HÀ NỘI – Prime Minister Nguyễn Xuân Phúc has expressed his hope that President of the World Economic Forum (WEF) Borge Brende will create favourable conditions for Việt Nam to promote its image and role as the host of the WEF-ASEAN 2018 slated for September 11-13. During a reception in Hà Nội yesterday for the WEF president, PM Phúc thanked Brende for his contributions to Việt Nam-Norway ties when he was Norwegian foreign minister. Hailing the WEF-ASEAN 2018’s theme “ASEAN 4.0: Entrepreneurship and Fourth Industrial Revolution”, the PM suggested that the WEF should build an agenda linked with ASEAN’s 2018 theme of “Resilient and Innovative”. In order to ensure the success of the WEF-ASEAN 2018, … [Read more...] about PM asks for WEF’s support to promote VN’s image