Government

President Barack Obama lays out his budget plan in a speech at George Washington university in Washington, DC.

Obama Administration's 2017 Budget More Than $4 Trillion

US President Barrack Obama has finally disclosed the 2017 US budget details. Never to shy away from what he deems right, even in the last year of presidency, he has included his long-term liberal plans that have been widely criticized by the Congress. The highlighted ones are his global climate change initiative, fee levied on crude oil, and enhanced medical care for cancer patients and drug addicts.

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CHINA-ECONOMY-FOREX

China's foreign exchange stocks decline to trillions

China's foreign exchange reserves had declined reaching to trillions. However, the government made efforts to support the local currency from dropping further.

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ETHIOPIA-DROUGHT-AID-UN

Public spending propels Africa's fastest growing economy Ethiopia

The east African nation Ethiopia is poised to grow at 8.1 percent in 2016 from 8.7 percent growth in 2015. This makes Ethiopia a fastest growing nation in the world. The government spending on infrastructure projects is mainly driving the economy growth.

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Policemen and a police dog walk on patrol

21 people arrested in China over online scam reaching 50 bln yuan from investors

21 people were arrested by the Chinese police on account of a huge online financial scam. The P2P online lender Ezubao had almost pulled off the biggest scam in wealth management product industry, with almost 900,000 investors losing around $7.6 billion (50 billion yuan).

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 Japan Adopts Negative-Rate Strategy to Aid Weakening Economy

Yen Falters Against Stronger Dollar, BoJ’s Further Rate Slashing Attempts May Go In Vain

US Dollar has been witnessed to gain some value against yen in both Tokyo and Japan on Monday. The appreciation of dollar has taken place due to BoJ’s surprise move for slashing the interest rate to (-) 0.1%. Even BoJ Governor has hinted further rate slashing events, if situation demands. But economists have referred the attempt as an attraction drawing stance aiming to prevent yen from rising to boost up the sluggish economic growth.

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US-ECONOMY-BANK

The Fed Will Stress Test U.S. Banks to Ensure Their Resilience

Federal Reserve Bank will issue a much tougher annual stress test this year. The test aims to prevent recurrence of 2008 crisis, analyzing resilience of 33 large U.S. banks against the worse-case hypothetical scenario..

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MALAYSIA-ECONOMY-BUDGET-NAJIB

Malaysia reduces growth forecast due to plunge in oil prices

Malaysia has trimmed its growth forecast mainly due to plunging oil prices. A miscalculated assumption has messed up the 2016 budget, which has the government groping for damage-control measures. One of the key outcomes were increasing the household spending of the country, which can give the sluggish economy a much-needed boost.

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U.S. President Barack Obama Meets With President Raul Castro Of Cuba

Cuba and United States continue to improve its relation

The Barack Obama administration announced more restriction lift on Cuba thus helping to improve the country's economy. The restriction lift will allow film shooting, travelling access and also a direct trade with the state run enterprise there.

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U.S. President Barack Obama Meets With President Raul Castro Of Cuba

Obama administration now less strict on US trade embargo, can now sell to Cuba on credit and export

President Obama has rolled out a new set of regulations that lifts the Cuban trade embargo to a certain extent. The relaxed rules allow easy facilitation of trade, travel and finance between the two governments, a move taken to end the age-old cold war between them. While the embargo cannot be lifted completely unless Congress gives their consent, the Obama administration is convinced that this is a step in the right direction for improving the condition of the island.

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Chinese President Xi Jinping meets his Iranian counterpart Rouhani in Tehran

China and Iran Agreed to Expand Trade and Bilateral Cooperation

China's President Xi Jinping and his Iranian counterpart Hassan Rouhani enter a new era of cooperation between two countries. In their meeting on Saturday, both countries agreed to expand trade to $600 billion in the next 10 years and bilateral cooperation.

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CHINA-BEIJING-XI JINPING-POLITICAL BUREAU MEETING (CN)

Future Land Development Chair Wang Zhenhua Faces Probe Under China’s Anti Corruption Drive

Future Land Development shares have witnessed a fall of around 14% and appear to be the lowest since September 7. Meanwhile, Moody’s has changed outlook on the business to negative from stable on Monday. Fearing further price falling, the company has arranged suspension of its shares listed in the Hong Kong and Shanghai Stock Exchange.

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Scenes Of India

India would be the fastest-growing economy in 2016 according to UN report

The report estimated India's economic growth to be at 7.3 percent in 2016, and the growth would increase even more in 2017. India is already one of the world's fastest-growing economy last year, benefiting from the sharp decline of oil, metals, and food price.

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General Views of BBC Broadcasting House

BBC journalist Rana Rahimpour barred from flying to US over foul changes to US visa rules

BBC journalist Rana Rahimpour who has a dual British-Iranian nationality was restricted from flying to the US due to changes to visa rules. Journalist deemed the new rules unfair.

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Visitors Attend The Skills London Job Fair

UK unemployment rate at 10-year low; earnings slow down

The jobless rate in the UK was recorded at 5.1 percent for the quarter ending November 2015. This showed the lowest jobless rate since October 2005. However, wage growth is slowing down in the UK industry. The employment rate was at high of 74 percent since 1971, according to the latest data released by Office for National Statistics.

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Prime Minister Narendra Modi Launches Start-Up India Scheme

What Startup India really offers

Indian Prime Minister Narendra Modi reveals the details of his much talked-about project, Startup India. Some key highlights are revised IP registration policies, faster exit and entry, income tax exemptions, and benefits for a woman entrepreneur. Modi hopes with this plan in action, India will soon become the hub for global startups.

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