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Sunday, February 2, 2014

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Wednesday, January 15, 2014

World Summary

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World Bank: Global economy at turning point

The global economy is at a "turning point", the World Bank has said, as it forecasts stronger growth for 2014. In its annual report on the world economy, the bank said richer countries appeared to be "finally turning a corner" after the financial crisis. That is expected to support stronger growth in developing economies. But it warned growth prospects "remained vulnerable" to the impact of the withdrawal of economic stimulus measures in the US. The US Federal Reserve has already begun to wind down its monthly bond-buying programme, previously set at $85bn (£52bn) a month. 'Crisis risks' There is concern this could push up global interest rates, which could affect the flow of money in and out of developing countries and lead to more volatile international financial markets. The World Bank warned that some developing countries "could face crisis risks" if the unwinding of stimulus measures was accompanied by market volatility. "Growth appears to be strengthening in both high-income and developing countries, but downside risks continue to threaten the global economic recovery," said World Bank group president Jim Yong Kim. "The performance of advanced economies is gaining momentum, and this should support stronger growth in developing countries in the months ahead. Still, to accelerate poverty reduction, developing nations will need to adopt structural reforms that promote job creation, strengthen financial systems, and shore up social safety nets." The bank forecasts that global GDP will grow by 3.2% this year, up from 2.4% in 2013, with much of the pick-up coming from developed economies. Developing nations will grow by 5.3% this year, up from 4.8% in 2013. In an interview with BBC economics correspondent Andrew Walker, World Bank economist Andrew Burns acknowledged that Brazil, Turkey, India and Indonesia were among the countries that could be vulnerable to the impact of US stimulus withdrawal. However he also noted that the first concrete steps taken by the Federal Reserve to cut back its programme of buying financial assets last month did not severely disturb the markets.

Drop in sea piracy helped by big Somali improvement, says watchdog

This handout picture released by the EU Navfor on 13 January 2012 shows six Somali men surrendering to members of a EU NAVFOR vessel Piracy at sea is at its lowest level in six years, with 264 attacks recorded - a 40% drop since Somali piracy peaked in 2011, a maritime watchdog has said. There were only 15 incidents off Somalia last year, the International Maritime Bureau (IMB) said. This is down from 75 in 2012, and 237 in 2011, its records show. Armed guards on ships, international navy patrols and the "stabilising influence" of Somalia's government had helped deter pirates, the IMB said. "The single biggest reason for the drop in worldwide piracy is the decrease in Somali piracy off the coast of East Africa," Pottengal Mukundan, IMB's director, said in a statement. "It is imperative to continue combined international efforts to tackle Somali piracy. Any complacency at this stage could re-kindle pirate activity," he said. IMB's annual global piracy report said more than 300 people were taken hostage at sea in 2013 and 21 were injured, nearly all with guns or knives. Indonesia saw the most pirate attacks last year, accounting for more than 50% of all incidents. But the report said they were "low-level opportunistic thefts, not to be compared with the more serious incidents off Africa". Piracy off West Africa made up 19% of attacks worldwide last year, the report said. Nigerian pirates, who accounted for 31 of the region's 51 attacks, were "particularly violent", killing one crew member, and kidnapping 36 people to hold onshore for ransom, the IMB said. In November, a UN and World Bank report said pirates operating off the Horn of Africa, which are some of the world's busiest shipping and humanitarian aid routes, had netted more than $400m (£251m) in ransom money between 2005 and 2012.

Monday, January 13, 2014

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Thursday, January 9, 2014

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Thursday, January 2, 2014

Real Madrid edge out PSG in Qatar friendly


Real Madrid edge out PSG in Qatar friendly - Football - Friendly Match
Real Madrid took advantage of a wasteful Paris Saint-Germain side to record a 1-0 friendly win in Qatar ahead of the resumption of the European season this weekend. Jese Rodriguez’s first half goal was enough to give a Gareth Bale-less Real Madrid side a win over the French champions, who passed up a number of glorious opportunities in front of goal. Carlo Ancelotti started Cristiano Ronaldo, putting the Real Madrid number seven up against Zlatan Ibrahimovic for the first time since their duel in the World Cup qualification play-off between Sweden and Portugal last November. The French champions started the brighter of the two sides in front of a sell-out crowd at the Khalifa International Stadium, with Edinson Cavani presented with a glorious opportunity to open the scoring after being slotted through by Blaise Matuidi. However, Diego Lopez came off his line to smother the shot. However it was Real Madrid who took the lead, when Alvaro Morata slipped a defence-splitting through ball into Rodriguez, who rolled his shot beyond the advancing Salvatore Sirigu. Corner kick deliveries were causing mayhem in the Real Madrid penalty area, with one instance seeing the ball somehow deflected just over the bar off a combination of Sergio Ramos and Alex. PSG were dominating possession as the second half came to a close and almost finished off an astounding passing move, with Matuidi dinking a shot with the outside of his right foot just past the post after a first time exchange between Ibrahimovic and Ezequiel Lavezzi. Cavani passed up another chance to find the net, this time flashing a volley past the far post after a wonderful chipped pass to the back post by Ibrahimovic.
Jose Rodriguez came within inches of doubling Real Madrid’s advantage against the run of play, smashing a shot off the post after a good passing move involving Morata and Asier Illarramendi. Real Madrid fielded an entirely different team for the second half, with Ronaldo coming off and players like Karim Benzema, Isco and Angel Di Maria entering, while PSG brought on Lucas Moura and Maxwell. Benzema in particular gave the PSG backline a new threat to think about, and he smashed a shot off the bar following an excellent motion which saw the French striker take the ball on his chest before turning and shooting on the volley. At the other end, Thiago Motta was afforded a free header from about four yards out, but he nodded the corner kick over the bar when he really should have found the net. Jeremy Menez was introduced for Cavani and the French attacker gave PSG more of an attacking impetuous as they hunted an equaliser. And it was Menez who almost forced Marcelo to slice into his own net, fizzing a low pass across the face of goal, where the Brazilian full-back cleared over his own bar in a state of panic. The final genuine chance of the game fell to substitute Kingsley Conan, who latched on to a long ball over the top from Silva before taking a touch past Jesus Fernandez in the Real Madrid goal. However, the keeper recovered to palm the shot wide with the empty net gaping. Moura found the side netting in stoppage time after a jinking run into the box, as Real Madrid saw out a 1-0 win over the French champions.