Sebastian Tong

ADB demands action on food inflation

The Asian Development Bank called on Saturday for immediate action from global governments to combat soaring food prices and pledged fresh financial aid to help feed the Asia Pacific region's poorest nations. ADB president Haruhiko Kuroda told a news conference in Madrid, where the bank is holding its four-day annual meeting, that total lending ''could be sizeable, but not enormous''.

IMF gives gloomy assessment of world economy

The head of the International Monetary Fund (IMF) gave a gloomy report on Saturday on prospects for the world economy to a dozen leaders debating how to respond to global financial turmoil. Dominique Strauss-Kahn told a high-powered forum that most of the downside risks to the world economy feared six months ago had now become reality.

Malawi eyes China for tobacco earnings growth

Malawi is deepening trade and investment ties with China as part of a larger strategy to diversify its agriculture-dominated economy and increase its bargaining power in the international tobacco market, the country's trade minister said late on Thursday.

S&P says SA outlook marginally worse

Political and economic risks in South Africa are rising, Standard & Poor's said but added that the country's BBB+ sovereign credit rating remains safe for now. The ratings agency said divisions within the African National Congress (ANC) as well as its slowing economy were sources of concern, although the country was making progress in addressing its energy crisis.

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