India's stand at G20 was heard, respected, endorsedSeptember 27th, 2009 NEW DELHI - Prime Minister Manmohan Singh Sunday returned from the G20 Summit at Pittsburgh with some major gains at hand that are making the rich nations now look at the developing world in a new light. It was evident from the final communiqu issued by the G20 leaders at the end of the Summit Friday that it reflected a lot of what Manmohan Singh had been pointing out prior to the summit - and all this with a sense of "confidence" as he himself said.
UN climate chief calls for bigger greenhouse gas cuts by rich countries to reach global dealSeptember 11th, 2009 UN climate chief: Big greenhouse gas cuts neededDALIAN, China — Rich countries must commit to deeper cuts in greenhouse gas emissions if they want China and India to sign onto an accord to curb global warming, the top U.N. climate official said Friday.
G20 pledges to implement IMF reforms, fight protectionism (Night Lead)September 5th, 2009 LONDON - Finance ministers of the Group of 20 (G20) countries Saturday pledged to give India and other emerging economies a greater voice in the running of the International Monetary Fund (IMF) and other global financial institutions. In their final communiqu issued here after Sep 4-5 meetings of the group representing 80 percent of world GDP, the finance ministers pledged to implement reforms to the World Bank by Spring 2010 and the next IMF quota review by January 2011.
BRIC nations demand greater say in global financial structureSeptember 5th, 2009 LONDON - India, China, Russia and Brazil have opposed protectionism, while demanding a much greater say in the running of global financial institutions like the International Monetary Fund (IMF) and the World Bank. "Protectionism remains a real threat to the global economy and should be avoided, both in direct and indirect forms," said a communiqu by the four countries, collectively referred to as BRIC economies.
Differences remain between rich, developing economies: LamySeptember 4th, 2009 NEW DELHI - Key differences still remain between rich economies like the US and advanced developing nations like India, China and Brazil, said World Trade Organisation (WTO) Director General Pascal Lamy here Friday. The US is ready to even clinch a final deal, but that may not exactly be the Indian view or a Chinese view or the Brazilian view, Lamy said at an interactive session organised by the Confederation of Indian Industry (CII) here, after the conclusion of the two-day mini-ministerial meeting among representatives of some 40 key WTO members.
India calls for 'better surveillance' to tackle financial crisisSeptember 2nd, 2009 NEW DELHI - Ahead of the G20 summit later this month, India has underlined the need for developing better surveillance and regulation to tackle the global financial crisis and stressed a bigger voice for developing countries in international financial institutions. "There should be better and transparent regulatory mechanism for capital markets as well as a stronger voice for developing countries, External Affairs Minister S.M.
New push from rich, developing nations to global trade talksJuly 9th, 2009 L'AQUILA - The groups of rich and developing countries, including India, are likely to commit themselves to early conclusion of the Doha Development Round of multilateral trade talks under the World Trade Organisation (WTO) later Thursday. A statement in this regard to this effect is expected from the G8 and G5 countries, as well as Egypt, at the G8 Summit being held at this quake-hit Italian city, some 100 km northeast of Rome.
Roche gives poor countries easier access to swine flu drug TamifluJuly 1st, 2009 Roche to ease access to TamifluBASEL, Switzerland — Pharmaceutical maker Roche Holding AG said Wednesday a new initiative will ensure that poor countries get its antiviral drug against swine flu at a lower price. Under the Tamiflu Reserves Program, Roche will produce and ship the drug to developing countries upon order at a "significantly reduced price," it said.
Chinese President Hu to attend G8 meeting in Italy, along with other developing nationsJune 29th, 2009 China's Hu to attend G8 meeting in ItalyBEIJING — Chinese President Hu Jintao will attend next month's meeting in Italy between leaders of the Group of Eight nations and those of emerging economies, the Foreign Ministry said Monday. Hu will attend the July 8-10 meeting in Trieste, Italy, at the invitation of Prime Minister Silvio Berlusconi, it said in a statement.
Poor economies to shrink as private investment plummets: World BankJune 22nd, 2009 WASHINGTON/SEOUL - Most developing economies will slip into recession this year amid a global financial crisis that has prompted wealthy investors to pull their money out of projects for the poor, the World Bank warned Monday. The developing world will grow 1.2 percent this year after growing 5.9 percent in 2008.
EU signs deal with supplier nations in bid to reduce energy dependence on RussiaMay 8th, 2009 EU seeking energy independence from RussiaPRAGUE — The European Union is seeking to reduce its energy dependence on Russia at a conference meant to lock in supply commitments from eight southern gas producing nations. The meeting is to sign a declaration that calls for linking the EU by pipelines to gas-rich nations on the Caspian Sea and beyond.
World finance ministers focus on aid to poor nations reeling from economic crisisApril 26th, 2009 Poor nations draw attention at finance meetingWASHINGTON — Reeling from a recession with roots in rich countries, the world's poorest nations need a hand up without burdening them with debt or adding to the ranks of the impoverished, global finance officials said Sunday. Poor countries have watched their economies plummet as the recession's effects spread, drying up investment capital, sharply reducing exports and commodity prices, and slowing the flow of cash sent home by their citizens working abroad.
World Bank: Nations should speed aid to poor countries hit by economic crisisApril 26th, 2009 World Bank: Nations should speed aid to poorWASHINGTON — The World Bank on Sunday urged donor nations to speed up delivery of the money they've already pledged — and to give even more — to help poor countries weather the steep global recession. The bank said developing countries face especially serious consequences as the financial and economic crisis turns into what it described as a "human and development calamity."
In a communique, the World Bank's policy steering committee said the crisis has already driven more than 50 million people into extreme poverty, particularly women and children.
Barroso: EU must continue helping poor countries, says recession no excuse for cutting aidApril 23rd, 2009 Barroso: EU must help poor despite recessionBRUSSELS — The European Commission's president says the EU must continue to be the world's primary donor of aid to poor nations despite the global recession. Jose Manuel Barroso says poor countries "are the least responsible for this crisis but among the worst affected." He says the recession "must not, cannot and will not be used as an excuse" for cutting EU aid to developing nations.
UN chief asks US, China, India to lead way on climate changeFebruary 10th, 2009 UNITED NATIONS - UN Secretary-General Ban Ki-moon wants the United States, China, India and the European Union to show 'global leadership of the highest order' in tackling climate change. 'We have no time to lose,' he said at a news conference Tuesday, noting that crucial climate change negotiations are scheduled for December in Copenhagen to draw up a new agreement to succeed the Kyoto Protocol on reducing greenhouse gas emissions.
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