| Think-tank: Arroyo administration 'most indebted' in RP history
An independent think-tank research head said Wednesday that the Arroyo administration is the "most indebted government in Philippine history." "An examination of [Mrs. Arroyo's] six-year record in office showed that her government actually brought the country to its worst-ever fiscal crisis," IBON Foundation, an independent development institution, said in a statement. Sonny Africa, IBON's research head, said that according to records the government's debt stands at P3.914 trillion as of October 2006. He added that the total public sector debt, including debt of government corporations and other government entities, approaches P6 trillion. The figures do not include contingent liabilities amounting to P552.7 billion as of September 2006, IBON said.
Officials hope to woo firms in India
PONTIAC -- Two Oakland County officials will make the county's first foray into India this month as part of an 11-day trade mission to attract businesses not just to southeastern Michigan but Oakland in particular. The trip, organized by the economic development arm of the Detroit Regional Chamber of Commerce, will be primarily automotive focused, though the delegation also will meet with companies in the life sciences, alternative energy and information technology fields. India, with 1.1 billion people, is the second most populated country in the world and has the second fastest-growing large economy. It has a highly educated work force and an economy already very oriented toward information technology and research and development, said Maureen Krauss, the county's deputy director of economic development and community affairs.
Euro zone March economic sentiment indicator 111.2 vs 109.7 in Feb
BRUSSELS (AFX) - The European Commission said its euro zone economic sentiment indicator for March rose to 111.2 from 109.7 in February.
Economists polled by AFX News had forecast a more modest rise to 110.0.
The industrial confidence component of the indicator increased to 6 from 5, consumer confidence improved to minus 4 from minus 5, and services confidence rose to 22 from 20.
Economists had forecast industrial confidence at 5, consumer confidence at -5, and services confidence at 20.
The commissions euro zone business climate indicator was unchanged at 1.55.
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“In order to change lives of people, India needs to grow faster”
India is growing is great, but in order for India to push or to pull the great ranks of the poor and change the lives of people, it needs to grow faster than that. Once it gets above 8% or becomes 9-10% we think there is a speed limit which India is in danger of breaking without further reform. Further reform is really the crucial bit. In answer to your second question, I dont see that as reverse globalisation but globalisation. It is very convenient sometimes to avoid free movement of people and to think about other things. But that is part of how the global economy works and is a part of the benefits of globalisation. Look at the huge contribution that Indians have made to the British economy or for that matter the American economy. I used to play for the Hollywood cricket team and we would travel up to Silicon Valley once a year and be obliterated by Indian cricket teams.
Business leaders honor innovation/economic impact
The Jefferson Economic Council (JEC) honored leading businesses in Jeffco that experienced significant growth in 2006. "Upping the Tempo: An Ensemble of Industry Bandleaders in Jefferson County" was the theme of this year's event, as nearly 300 attendees gathered at the 14th annual Industry Appreciation Awards Event the morning of March 22, 2007, at the Arvada Center for the Arts and Humanities. Two businesses located in the Ken-Caryl Business Park, Ascent Solar Technologies and MicroSat Systems, were among the honorees. The event drew attendance and sponsorship from the business, education, and government communities who recognize the importance of capital investment and new jobs to the Jefferson County economy. "As we try to encourage job growth and capital investment in Jefferson County, it is important for us to recognize the businesses and individuals who have made significant contributions in these areas over the past year.
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