Italy has become the first G7 country to sign a memorandum of understanding on China's Belt and Road initiative, which is designed to create a huge economic zone.
Kazakhstan’s tenure in the United Nations Security Council lasted from January 1, 2017 to December 31, 2018. The country was elected in 2016 to represent Asia, defeating Thailand for the spot. Kazakhstan obtained 113 votes and Thailand received 77 during the first round of voting; in the second round, Kazakhstan obtained 138 votes. As part of its tenure in the UNSC, Kazakhstan was president of the Security Council in January 2018, which was marked by a trip by President Nazarbayev to New York.
The International Monetary Fund made an important statement last week, recommending that South Korea adopt expansionary fiscal policies. This means lowering taxes and/or increasing government expenditures to stimulate economic growth. The underlying principle is simple: if people have more money to spend and the government is spending more, the economy will have more money rolling around in it, supporting new jobs and expansion. Hence the name.
South Korea has been recognized by the World Food Programme for its active aid to poorer nations, years after being on the receiving end of international help. South Korea signed an agreement with the WFP last year and shipped out 50,000 tons of rice to war-torn nations such as Yemen and Syria.
South Korea itself had been a recipient in the post-Korean War years, Minister Lee Gae Ho from the country's Ministry of Agriculture, said no other country has successfully transformed itself from a beneficiary to a donor.
The World Bank Board of Directors today approved a $70 million credit to improve the quality of life of around one million people living in Northern, North Central, Eastern and Uva Provinces in Sri Lanka. The new local development project will put local communities at the center of planning and delivery of essential services such as roads, healthcare and sanitation through closer collaboration with local government authorities.
The expected inclusion of Chinese bonds in the Bloomberg Barclays Global Aggregate Bond Index next month is an "important milestone" in China's financial integration into the world economy, an International Monetary Fund (IMF) official said Wednesday.
"That step both reflects the importance of those bonds in foreign portfolios and likely will encourage more purchases of those securities going forward," said Changyong Rhee, IMF's director of the Asia and Pacific department, at a book forum held in Washington D.C.
COTABATO CITY – The European Union (EU) is set to train Moro Islamic Liberation Front (MILF) officials working in the Bangsamoro Transition Authority (BTA) of the just-created Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) to make them effective administrators.
Initially, 41 middle executives from the MILF will be trained on public policy, governance and management by the Centre for Peace and Conflict Studies (CPCS), and the Bangsamoro Leadership and Management Institute (BLMI) “starting this summer,” an EU statement furnished Friday to the Manila Bulletin said.
South and North Korea have exchanged reports related to a rail project that aims to link the peninsula, South Korea’s Unification Ministry said on February 27, 2019. Officials from the two countries met Monday at the inter-Korean liaison office in the border city of Kaesong to exchange the reports.