Key Economic News to Watch This Week: January 21

Last Updated: 21, January 2013

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A series of important meetings to take note of this week: The African Union summit in Addis Ababa, Arab League economic summit in Riyadh, World Economic Forum in Davos as well as the EU-Brazil summit on Friday. More importantly, after months of speculation, British Prime Minister David Cameron is expected to announce on Wednesday that Britain will drift out of the EU and the European project will fail unless the bloc tackles three major problems: the eurozone debt crisis, faltering competitiveness as well as declining public support.

Monday, January 21

The inauguration of second-term US President Barack Obama takes place in Washington. The festivities begin on Monday, with the traditional parade, dinner balls and galas, as well as the re-enacted swearing-in outside the Capitol. However, once the parties end, Obama’s second-term challenges are formidable, not least given his ambitious priorities of addressing the national debt, illegal immigration and gun violence.

Report on ‘Global Employment Trends 2013′ is launched by the International Labour Organisation in Geneva.

African Union summit begins in Addis Ababa, with the theme of pan-Africanism and African renaissance.

Arab League economic summit takes place in Riyadh.

Tuesday, January 22

A general election takes place in Israel, with Prime Minister Benjamin Netanyahu seeking a third term. According to recent opinion polls, Netanyahu’s Likud-Yisrael Beitenu bloc, along with nationalistic and religious allies, is expected to win a narrow majority of seats in parliament.

Wednesday, January 23

British Prime Minister David Cameron is expected to deliver his speech on plans for Britain’s membership of the European Union. After months of speculation, excerpts of the planned speech show that Cameron will say Britain will drift out of the EU and the European project will fail unless the bloc tackles three major problems: the eurozone debt crisis, faltering competitiveness as well as declining public support.

The World Economic Forum in Davos, Switzerland, until January 27, hosts 2,500 heads of state and governments, finance ministers, central bank governors, scientists, artists, trade unionists and activists. Prime Ministers David Cameron of Britain, Angela Merkel of Germany, Mario Monti of Italy as well as Dmitry Medvedev of Russia will address the meeting under the theme Resilient Dynamism.

Apple reports Q1 earnings and Wall Street analysts are expected Apple to post its first profit decline in 9 years.

A protest against the Slovenian government’s austerity measures takes place in Ljubljana.

IMF releases updates to its World Economic Outlook.

UNCTAD launches Global Investment Trends and Prospects report.

Thursday, January 24

The 6^th EU-Brazil Summit takes place in Brasilia. Hosted by Brazilian President Dilma Rousseff, the summit will focus on key global challenges such as the maintenance of peace and security, climate change, developments in the international economy as well as the analysis of the respective regional situations.

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