Almost two-thirds of the Thai cabinet are millionaires, including the south-east asian nation’s female prime minister, whose assets include seven Hermès handbags.
Thailand’s National Counter Corruption Commission yesterday released figures for 36 ministers’ assets declaration, which are mandatory for all incoming and outcoming cabinet members.
Despite being contrarian to Islamic beliefs, opium production is one of the biggest industries for the war-torn country. Afghanistan alone is responsible for supplying more than 90 percent of the world’s opium, the raw material for manufacturing heroin to drug addicts all across the globe. Myanmar, trails in second place.
German Finance Minister Wolfgang Schaeuble has slammed recent comments made by the United States as “silly”, while telling the United States to stop blaming Europe for its economic woes and focus on its own problems at home instead.
The Japanese government is willing to buy more rescue bonds from the European Financial Security Facility (EFSF) to aid Greece’s recovery, as long as the European community comes up with a rational plan to stabilise international markets, said Japanese Finance Minister Jun Azumi on Tuesday.
Azumi told reporters in Tokyo that Japan was dedicated to contributing to any global bailout, though he warned eurozone members that a workable plan was needed in order to alleviate the current global fears.
27 September 2011.
A crisis of confidence envelops the global economy today. Too much debt is denting confidence – in turn holding back spending, investment and job creation. In these circumstances, we need collective action for global recovery along four main policy lines: repair, reform, rebalancing, and rebuilding.
Indian Prime Minister Manmohan Singh is under immense pressure as public uproar over the country’s new poverty benchmark intensifies. With the new poverty threshold guidelines, millions of Indians stand to lose their food and welfare benefits.
As part of a new food security legislation, the Planning Commission proposes a daily income threshold of Rs 32 ($0.64) for urban areas like Delhi and Mumbai and Rs 26 ($0.52) for rural areas. The World Bank’s poverty line is $1.25 per day.
26 September 2011.
The massive contagion spreading across euro zone countries have morphed into an urgent problem for policy makers. Some claim the euro is too big to fail, others assert that it is too big to bail. The pros and cons of proposed solutions have been debated endlessly without gaining much headway. But one thing is clear: Something must be done to help the stricken economies.
A quick preview of the key economic events for the upcoming week:
Monday, 26 September
EU trade ministers meet in Brussels to discuss Russia’s accession to the World Trade Organisation, Indian and Ukrainian Free Trade Agreements and the Doha Development Agenda
The United Automobile Workers will begin a series of negotiations with Ford Motor on a new contract.
Boeing delivers its first 787 Dreamliner to Japan’s All Nippon Airways. The fuel-efficient jet is expected to be flown into Tokyo on September 27.
China has become the latest nation to introduce a gold dispensing vending machine, which was installed within the busy Wangfujing Street shopping district in Beijing on Saturday.
The machine is a joint collaboration between the Beijing Agricultural Commercial Bank and a gold trading company, and will allow customers to withdraw gold bars or coins of various weights based on the prevailing market prices.
U.S. diplomats led a walkout from the United Nations General Assembly as Iranian Mohammed Ahmadinejad began his sweeping attacks at the “arrogant powers” of the West, and suggesting that “two planes couldn’t bring towers down.”
