by Rajeev Rewari
“Taming Inflation: Focus on Edible Oils, Milk says RBI”
In an attempt to hold back the inflation rate in India, the finance minister is lowering prices of oilseeds and fertilizers that would decrease the cost of essential food items.
“SAIC, China Automakers Develop Own Brands to Challenge GM, VW”
SAIC Motor and other Chinese auto manufacturers are unveiling many new models to decrease dependence on foreign made vehicles.
“Brazil to Double Ethanol Production”
Brazil, the world’s largest exporter of bio fuels, will stand by the US to help promote ethanol as an alternate source to fossil fuels and will increase production by up to 10% a year.
“Malaysia to Build $14b Oil Pipeline”
Beginning in August, Malaysia will start construction of a 320 kilometer oil pipeline that would lower transportation costs and cut risks of pirate attacks.
“FDI and Private Investment in Pakistan Increased”
The government is using a policy of deregulation and privatization to increase foreign direct investment in engineering and agro-based industry, thus increasing production.
“Russia: $1 Billion from Oil into Nanotechnology”
Over the next three years, Russia will use $1 billion from oil and gas export earnings to fund research in nanotechnology to fuel its future economy.
“Indonesia to Increase Rubber Output in 2007”
Indonesia, the world’s second largest producer of rubber, plans to rejuvenate 300,000 hectares of rubber plantations to increase output by 10%.
“Colombia on path to investment grade status, S&P says”
Due to a drop in crime rates, a wave of privatizations, and record GDP growth rates, foreign and local investment is dramatically increasing in Colombia.
“IMF sees South Africa growing 5 pct"
The International Monetary Fund says that South Africa’s stable macroeconomic policy and central banking system will keep the nation resistant to external shocks in the market, maintaining 5% GDP growth.
“Poland's Unemployment Rate Declines”
Poland has the highest unemployment rate in the EU; however it dipped down to 14.9% recently, a significant drop from 18% last year.