financializer news A weblog highlighting financial topics making news in the international media.

debt rout: The debt rout was led by gilts as data showing faster-than-estimated U.K. economic growth left traders betting on virtually no chance the Bank of England will cut interest rates through the end of 2017, according to Bloomberg. Treasury yields jumped to the highest since May and the greenback rose against most major counterparts amid bets on a Federal Reserve hike in December. Oil climbed with the dollar. Stocks fell on mixed earnings, while Amazon.com Inc. plunged in extended trading after projecting sales that may miss analysts' estimates. Traders sent bonds toward their worst monthly slide since 2014 on speculation the global economy is becoming strong enough to withstand a shift away from ultra-easy policies. Oil approached $50 a barrel. (news.financializer.com). As reported in the news.

gender: This reflects "the continued existence of a gender gap in income for Australia" and the rise of other nations on the measure since 2006, when Australia ranked 15th, according to Nine News Australia. Australia ranking reflects a score of 0.72 points, which was unchanged from a decade ago. Australia ranks 46 out of 144 countries in the group latest global gender gap index measuring women earnings and job opportunities against that of men. It now ranks under the US, on 45, and a long way below New Zealand, which cracked the top 10 countries at nine. The report pointed to the importance of government investment in child care support for women, to boost workforce participation as well as to create jobs. Overall, Iceland and Finland ranked highest on progress in equality in education, health and survival, economic opportunity and political empowerment. (news.financializer.com). As reported in the news.

latin america: Almost without exception, European markets slipped down the rankings while emerging economies across Latin America, Asia and Africa took their place near the top of the league table thanks to government plans to deploy green energy as a fast, relatively cheap way to develop their grids, according to The Guardian. European markets appear to be scaling back their ambitions as they address the challenges of marrying up increasingly mainstream renewables with a legacy of centralised conventional power generation, EY said at the time. In its biannual report on renewables investment, released in May, consultancy EY reported that countries across the continent were becoming less attractive to investors as the pipelines of clean energy projects slowed following widespread subsidy cuts and a perceived scaling back of ambition. But rather than being the start of a long, painful descent for Europe – historically the world frontrunner in renewable energy development – it now seems that the worrying report in May may have been a temporary blip. For example, France, moved up a position to reach 7th in the global rankings, thanks largely to a new national plan to tender 3GW of new solar capacity over the next three years, which will boost its solar capacity to more than 10GW by 2018. UK attractiveness for renewables investment plummets to all-time low Read more The latest Renewable Energy Country Attractiveness Index , released today, shows many European nations, including France, Belgium, Sweden, Ireland, Norway and Finland, all moved up the rankings thanks to a flurry of new renewables programmes that are helping to drive investment across the continent. (news.financializer.com). As reported in the news.

lot sampling: Wending through the crowded alleyways of Old Delhi pungent spice market, the group of 18 gourmands sneezed and coughed as they smelled and sampled everything from turmeric and cloves to dried red chilies and pomegranate seeds, according to The Toronto Star. Cristeta Comerford, the executive chef in President Barack Obama White House, said she was learning a lot sampling north Indian delicacies, and that Tuesday trip to the chaotic spice bazaar — Asia largest wholesale spice market — was one of the most amazing experiences. By Shonal Ganguly And Rishabh R. Jain Associated Press Wed., Oct. 26, 2016 NEW DELHI—An elite club of chefs is taking a break from feeding the world most powerful leaders to visit the Indian capital and sample its spicy, aromatic cuisine. You really got to experience everything — you smelled it, you felt it, you see the people that are working to make sure that all of these spices are brought to our homes, she said. react-text: 149 Cristeta Comerford, the executive chef in President Barack Obama White House, smells a spice during a visit to Khari Baoli, Asia largest wholesale spice market, with a group of gourmands in New Delhi, India. /react-text Article Continued Below The group, called Le Club des Chefs des Chefs, is a collection of personal chefs serving global heads of state. This is the first time they are holding their annual general assembly in India. The group was founded in 1977 in Paris by French chef Gilles Bragard. (news.financializer.com). As reported in the news.

maddow blog: Anything to add Consider this an open thread, according to MSNBC. Explore: The Maddow Blog - Pro-Clinton super PAC eyes competitive congre - Ted Cruz ready for an indefinite Supreme... More Like This Best of MSNBC Speak Out be the first to comment join the discussion back to article Latest comments Top Stories from NBC News and MSNBC Republicans fear Trump is alienating women 10 hours 4 min ago Pence plane skids off NYC runway, no one hurt 7 hours 48 min ago FLOTUS delivers 'closing argument' for Clinton 8 hours 14 min ago Mom 'terrified' son was threatened with noose Clashes as police remove pipeline protesters from camp Trump: Cancel the election and give it to me Conflicting polls, but one conclusion: Clinton leads Trump family makes final push before election How would a contested election work Is Ivanka Trump business in trouble close Wednesday Mini-Report, 10.26.16 10/26/16 05:30 PM facebook twitter google plus tumblr instagram rss - Home - Help - Terms of Service - Independent Programming Report - Closed Captioning - Privacy Policy - Newsletters - MSNBC Store - MSNBC Info Blog - Careers - AdChoices - NBCNews.com - Today.com - CNBC.com - Breaking News.com © NBC UNIVERSAL share tweet email save Comment be the first to comment comments back to article Embed But now some analysts are asking: Did North Korea just try to launch two long-range missiles * Many consumers aren't responding as expected to the mandate: A key adviser who helped design President Obama signature healthcare law is calling for stricter penalties for people who choose not to pay for health insurance. 'I think probably the most important thing experts would agree is we need a larger mandate penalty,' Jonathan Gruber said in an interview with CNN on Wednesday. 'That something I think, ideally, we would fix,' he added. * An overdue change: Students who report being sexually assaulted at Brigham Young University will no longer face the possibility of punishment for honor code violations, such as drinking or extramarital sex. (news.financializer.com). As reported in the news.

airline industry: Volume spiked to nearly 44 million shares, which was more than five times the full-day average, according to Market Watch. Southwest reported ahead of the open third-quarter earnings that beat expectations, but provided a downbeat outlook for revenue per available seat mile, a key metric for the airline industry. The stock LUV, +2.19% plunged as much as 12% intraday Wednesday, before paring some losses. Before the reported results, the stock had shot up 14% over the past month. Analyst Helane Becker of Cowen & Co. said she would not be surprised if some investors gave up on the stock, as she wrote in a note to clients that, again, Southwest is the only carrier to report that it is increasing capacity from the previous quarter. Don't miss:United, American report upbeat September results. (news.financializer.com). As reported in the news.

depreciation: Those concerns, according to several experts interviewed this week by the Global Times, are unfounded, according to Global Times China. The yuan recent depreciation has more to do with the dollar appreciation than any problems with the domestic economy, they said, though, China ongoing economic transformation has had some influence on the currency. The yuan depreciation sparked concerns that the Chinese currency might spiral out of control. Still, they see the recent depreciation of the yuan as "orderly" and don't believe it will get out of hand. On Tuesday, the yuan central parity rate, also known as the reference rate, weakened by 54 basis points to 6.7744 against the US dollar, touching a six-year low. Photo: CFP The yuan depreciating trend against the US dollar became evident again in October, not long after market worries had somewhat eased over the fluctuating Chinese currency, which has been on a downward path for more than a year. (news.financializer.com). As reported in the news.

drug industry: Certain factions in the Democratic Party have no affection for the branded drug industry, and these factions, and their policies, could be tremendously damaging to the industry if their pharmaceutical policies were put into place, the report said, according to Market Watch. However, these policies have always been fiercely opposed by Republicans, and even more moderate proposals...have been successfully fought by the industry, largely through Republican lawmakers. A biotech selloff since the tape early-October release has cost investors $50 billion and caused them obvious concern about the double whammy of both a Democrat president and Democrat-controlled Congress, according to a new report by Leerink Partners. Speculation about the so-called down-ballot effects of Trump nomination has abounded for much of the year. Read more:The market in a minute: Playing a Clinton win with a split Congress While investors saw a Hillary Clinton presidency and a Republican-controlled House of Representatives as an 'OK' election result — one they were comfortable enough with — the odds of another outcome, even if not particularly high, remains materially elevated compared to early in October, the report said. But the tide of public opinion changed with the Trump tape Oct. 7 release, the report said, sending his odds of success plummeting from 35% to about 10% to 15% after their release, and menacing down-ballot Republican prospects too. (news.financializer.com). As reported in the news.

market activity: The Dow Jones Industrial Average DJIA, -0.16% rose 30.06 points, or 0.2%, to close at 18,199.33, according to Market Watch. Wednesday trading was the latest session in which overall market activity, at least in terms of swings for the major indexes, was extremely quiet. The S&P 500 SPX, -0.30% slipped 3.73 points, or 0.2%, to end at 2,139.43, while the Nasdaq Composite Index COMP, -0.65% which is heavily weighted toward technology names, fell 33.13 points, or 0.6%, to finish at 5,250.27. See:The stock market has reached a historic level of quiet AppleAAPL, -0.96% retreated 2.3% to $115.59, notching its biggest daily percentage loss since Sept. 9. Investors also may have been disappointed that the tech giant projections for the current quarter weren't more bullish. Investors punished the stock after the iPhone maker posted quarterly earnings that slightly beat expectations and revenue that was just shy of forecasts. (news.financializer.com). As reported in the news.

states: What happened really there was just a few platforms where investments could come in, said Duterte, who has caused concerns in some quarters by embracing China and rejecting the United States after the longtime ally criticized his bloody anti-drugs campaign, according to The Japan Times. I want to be friends with China. In spontaneous remarks made after delivering a prepared speech at the Philippine Economic Forum on the second day of his three-day visit, Duterte said there were no talks about arms, about stationing of troops, and alliances, military or otherwise when he visited China to meet with his counterpart Xi Jinping and other leaders last week. I do not need the arms. After weeks of hitting out against the United States for meddling in his country domestic affairs, and even cursing U.S. President Barack Obama, Duterte announced in Beijing that the Philippines would separate from the United States — only to clarify later that he did not mean severing ties but rather pursuing an independent foreign policy and lessening his country dependence on the United States. I do not want missiles established in my country, he said. (news.financializer.com). As reported in the news.

non-browning capabilities: Flowers from the second crop of Bravo apples are beginning to flourish on trees across orchards in the state south-west and elsewhere in the nation with yield expected to be up significantly from last year, according to Australian Broadcasting Corporation. With its distinctive dark skin and non-browning capabilities, the apple also proved to be just as popular with growers; so much so, new tree stock has also sold out. Related Story: WA says hello to new apple variety Map: Manjimup 6258 Growers of a new apple variety developed in Western Australia are eyeing international markets after the first run sold out, despite the hefty price tag of $13 per kilo. Manjimup grower Harvey Giblett, who harvested about 15 tonne of Bravo earlier this year, said the apple had the rare ability to present great value for consumers and growers. "We are the only country in the world growing them at the moment which gives up the opportunity to charge a bit of a premium over and above other apples," he said. "It what we need to make it work for us growers as Australia has a high cost of production." Mr Giblett estimated production to be "triple or even quadruple" on harvest from earlier this year with growers removing other varieties to plant Bravo tree stock, known as ANABP 01, once it becomes available. "As the tree matures, production will only go up," Mr Giblett said. "It still a way off yet, but it could one day challenge the Pink Lady as the most popular export variety." Evolution of apple pays dividends for growers Photo: Early signals indicate a bumper season ahead for growers of Bravo apples The origins of the Bravo apple began 20 years ago following the crossing of seeds from Golden Delicious and Cripps Reds varieties, with the resulting tree stock further developed at a research centre in Manjimup, a known hub for apple growers. The week best stories in your inbox Rural Round Up: great reads from the farm. Although dependent on seasonal conditions, harvest begins in April. (news.financializer.com). As reported in the news.

number: Canada ranked 35th on the World Economic Forum 2016 Global Gender Gap Report, dropping five positions from last year, largely due to lower scores on economic participation and opportunities, according to The Toronto Star. The annual survey of 144 countries measures such factors as salary, educational attainment and the number of women in senior workplace and political positions. By Sunny Freeman Business Reporter Wed., Oct. 26, 2016 Because it 2015 may have been reason enough for Canada Prime Minister to close the gender gap in cabinet last year, but that didn't stop the country from dropping in global rankings of gender parity this year. Globally, the survey found the widest gap between the sexes exists in political empowerment. But the forum acknowledged advances made at the Parliamentary level in Canada. Canada recorded a drop in female legislators, senior officials and managers, it said. (news.financializer.com). As reported in the news.

parity: When measured in terms of income and employment, the gender gap has widened in the past four years; at 59%, it is now at a similar level to that seen in the depths of the financial crisis in 2008, according to The Guardian. Last year, the WEF predicted it would take 118 years for economic parity to be achieved. The report by the World Economic Forum – best known for its high-profile gathering each year in Davos, Switzerland – found that economic disparity between women and men around the world was rising even though the gap was closing on other measures, such as education. This year, the Geneva-based institution has calculated the gap would take until 2186 – 170 years – to close. The report says: More than a decade of data has revealed that progress is still too slow for realising the full potential of one half of humanity within our lifetimes. Now in its 11th year, the report measures the relative discrepancies between women and men across four key areas: health, education, economy and politics. (news.financializer.com). As reported in the news.

province: Tuesday, about 114,000 residents had been relocated, 239,500 hectares of crops and 3,200 houses damaged, and another 600 houses destroyed by the typhoon, according to the statement, according to Xinhua China. Typhoon Haima, the 22nd typhoon of the year, made landfall in the southern province of Guangdong on Oct. 21. As of 9 a.m. In Guangdong, the worst-hit province, Haima has displaced 95,000 people, and 62,000 people are in urgent need of basic living supplies. (news.financializer.com). As reported in the news.

case: External Link: US presidential debate no.3: the economy In Brexit those wanting "change" felt much more strongly about it and were thus more inclined to vote, than those favouring the status quo, according to Australian Broadcasting Corporation. This might also be the case with Trump voters. However, they all said much the same about the prospect of British voters opting to remain in the European Union, before a majority of them actually voted to leave at the Brexit referendum in June. So the possibility of a Trump victory can't be entirely dismissed – and the possible economic consequences of such an outcome are worth considering. The unexpected outcome of the Brexit referendum saw the London share market fall by more than 5 per cent, and the British pound by more than 8 per cent, in the following 24 hours. Precisely because a triumph for Trump has by now been so widely discounted – including by the financial markets – this outcome would prompt a much larger financial market reaction than a Clinton victory. (news.financializer.com). As reported in the news.

canberra: Victoria says it due $1.45 billion for selling the Port of Melbourne lease, with Canberra originally promising to pay $877 million, according to Nine News Australia. There now a suggestion the shortfall could be forthcoming, but only if $600 million is used to include a South Yarra stop in the $10.6 billion dollar train network upgrade – something the state government has previously said is too expensive. The Victorian state government has reportedly rejected the federal government offer of $600 million to add a re-built South Yarra station to the Melbourne Metro tunnel project. Public Transport Minister Jacinta Allan said the extension did not stack up financially and was a ploy to save Liberal MP Kelly O'Dwyer seat of Higgins. If there money owed to Victoria, it should come and it should come in full, he told the Herald Sun. Senior federal Liberals have reportedly told Mr Turnbull the matter needed to be resolved as quickly as possible . State opposition leader Matthew Guy has said he wasn't interested in a state versus federal stoush but argued South Yarra station did need to be rebuilt . Mr Guy said earlier this year the state government should be handed every single cent of the money owed from the Port sale. (news.financializer.com). As reported in the news.

clinton respondents: Key points:40pc of US advisors say little difference for markets between Trump and Clinton win Older respondents believe Trump would be better for share market than Clinton Respondents rated Clinton as better on trade and geopolitical risk Around 40 per cent of respondents in the US said neither Hillary Clinton nor Donald Trump would be better than the other on five key factors of the stock market, bond market, global economy, global trade, and geopolitical risk, according to Australian Broadcasting Corporation. The latest 2016 Global Financial Advisor survey from Natixis Global Asset Management showed trends among those managing client money and distinct opinions between those in the US and those outside. "If Brexit has taught us one thing, it that betting on the conventional wisdom can be dangerous," said David Lafferty, chief market strategist at Natixis Global Asset Management a note to clients. Related Story: RBA prepares for events that could rock financial markets, governor says Related Story: Moody warns Trump presidency could damage US and global economies Map: United States A recent report shows global financial advisers think a Clinton presidency will be better for financial markets, though for American advisers, neither candidate appears to be better than the other. But 32 per cent of US respondents believed Clinton would fare better in global trade, and 35 per cent believed she would fare better in geopolitical risk. Over the past 180 years, the report noted that elected presidents have not had significant impact on financial markets, but short-term market blips can occur when an election result surprises. "The president policy choices have been pretty irrelevant to financial market performance," said Chris Wallis, chief executive and portfolio manager at Vaughan Nelson Investment Management. "History also shows that the average volatility in the market today is about the same as it was in the 1800s... the early 1900s, the mid-1900s, the postwar period and so on." When broken down, Clinton was the preferred candidate for the stock market, bond market, global economy, global trade and geopolitical risk, with around 45-55 per cent of global advisers saying her presidency would be better for those markets, compared to only a mid-teens percentage for Trump. "Regardless of the winner, a Washington gridlock won't likely produce major policy changes, although some modest corporate tax reform is possible," said Mr Lafferty. "While long-run return implications are uncertain, we still believe that Mr Trump newcomer status and lack of policy history would make him the source of more short-term volatility. economic-trends, markets, government-and-politics, elections, united-states, australia First posted October 25, 2016 16:46:21 noindex Even as Trump remains behind Clinton in polls, 34 per cent of US respondents over the age of 47 believe Trump would be better for the stock market, compared to Clinton on 21 per cent. (news.financializer.com). As reported in the news.

company plans: Just over three-quarters of proxy votes cast at today AGM in Sydney supported the company plans to increase the pay packet of managing director David Attenborough and other executives, but about 22 per cent of votes were against the motion, falling just short of the 25 per cent needed for a "first strike" motion against the company, according to Australian Broadcasting Corporation. Mr Attenborough is in line for a pay rise from $2.7 million to $3.1 million, despite the gaming giant profit plunging by half in 2016. Map: Australia Gambling giant Tabcorp is the latest big company to be hit by an investor backlash over executive pay during the annual general meeting season. The Australian Shareholders' Association and several corporate governance advisers opposed Tabcorp planned increases in executive pay. The case will start in the Federal Court in June next year. Tabcorp is also facing stiff legal bills from court cases including allegations from Australian financial crime regulator, AUSTRAC, alleging that it broke anti money laundering laws by failing to report more than 200 suspicious transactions. (news.financializer.com). As reported in the news.

capita: If measured by purchasing power parity, its GDP per capita that year was 148 percent that of the US. With important access to sea routes, one quarter of all global trade and energy resources reportedly go through Singapore, according to Global Times China. But now, this Asian nation is facing severe challenges. According to the 2015 article "How Singapore achieved a higher per capita GDP than the US" by John Ross, a senior fellow with Chongyang Institute for Financial Studies at Renmin University of China in 2013, Singapore GDP per capita was 104 percent of that of the US, calculated at current exchange rates. According to the Monetary Authority of Singapore , Singapore central bank, in the third quarter of 2016, the country GDP growth unexpectedly shrank an annualized 4.1 percent from the previous three months, the country sharpest quarterly contraction in four years. Problems in the manufacturing and services sectors are the main reasons for the decline in the economy. The MAS also reported that growth in Singapore is not expected to pick up significantly in 2017. (news.financializer.com). As reported in the news.

duterte presidency: But whatever the commitments made by China, it is unlikely to expect that the Philippines would, under Duterte presidency, intentionally weaken its economic relationships with the US and its allies, according to Global Times China. In the present era of globalization, economic engagement is not a zero-sum game nor is any economic relationship exclusive. China has reportedly agreed to provide $16 billion in aid to the Philippines after the two countries pledged to forge closer economic ties. Duterte visit to Japan, a country which remains the largest donor, top export destination and an important source of investment to the Philippines, has great economic implications for Manila. In this regard, the Philippines will need to expand its economic relations with foreign countries, Japan included, to get more financial and technical support for its projects. Despite an unclear picture of what kind of strategy Duterte will adopt to steer the economy, it seems that the country has turned its attention to improving airport and railway infrastructure as well as its road network. (news.financializer.com). As reported in the news.

european union: I would argue that fears that British Prime Minister Theresa May might opt for a "hard Brexit " is the most direct cause for the sterling plunge, which indicates that currency exchange rates have increasingly become a tool for political games, according to Global Times China. The implication for the yuan in all of this is that while the Chinese currency internationalization might be challenged in the short term, in the medium- to long-term this will give the yuan a chance to rise. There has been a wide spectrum of arguments about the reasons behind the "flash crash" of the sterling - a dominant global currency which is the legal tender of the second largest economy in the European Union and the fifth largest economy globally. As I would suggest, the trigger for the sterling sudden plunge was May statement that Brexit negotiations would begin by March 2017, which appears to prepare the ground for a hard Brexit, one that would pull the UK out of the single market. If the UK is headed for a hard Brexit, this would indisputably take a toll on both Britain and the EU. Therefore, the pound sudden dive can be seen as a message about market fears of potential uncertainty in Britain and the EU. More profoundly, the plunge reflects the increasingly conspicuous political attribute of currencies. Previously, it was believed that Britain would be on course for a "soft Brexit" - an outcome similar to the Norway model or the Swiss solution. (news.financializer.com). As reported in the news.

exports analysts: Business investment declined in the country amid frail private consumption and weak exports, according to Market Watch. Analysts said that without brisk housing construction — made possible by cheap bank loans and easier mortgage rules supported by financial authorities — Korean growth would have slowed further. South Korea gross domestic product grew 2.7% year-on-year in the third quarter, down from a 3.3% gain in the prior three-month period, according to preliminary data from the Bank of Korea. Low productivity is prevalent, in particular in the services sector and among small and medium-sized enterprises, Fitch Ratings said in a report about the South Korean economy. Beijing on Tuesday set the onshore yuan against the greenback at 6.7744, down 0.08% from Monday, to a fresh six-year low. Korea Kospi SEU, +0.51% was down 0.8%. Both the Hang Seng Index HSI, -1.02% and the Shanghai Composite SHCOMP, -0.13% were down about 0.2%. Chinese stocks slipped Tuesday, as a yuan decline offset gains by resource stocks. (news.financializer.com). As reported in the news.

issa: Darrell Issa speaks to reporters after a hearing of the House Oversight and Government Reform Committee on Capitol Hill University March 5, 2014 in Washington, D.C. Brendan Smialowski/AFP/Getty Images Obama slams Issa tactics as 'shameless' 10/25/16 09:20 AM—Updated 10/25/16 09:27 AM By Steve Benen It always good to see a political article with a strong lede, and I think *Politico* did a nice job with this one, according to MSNBC. Note to Rep. Darrell Issa speaks to reporters after a hearing of the House Oversight and Government Reform Committee on Capitol Hill University March 5, 2014 in Washington, D.C. Committee chairman Rep. Darrell Issa from President Barack Obama: If you want to call him one of the most corrupt presidents in history, say he should be impeached and question whether he was telling the truth about his birth certificate, maybe don't then brag about working with him in a campaign mailer as you try to hang onto your seat. Darrell Issa has found himself in a bit of a predicament, struggling to hold onto a House seat he represented for nearly two decades. As we discussed last week, Rep. (news.financializer.com). As reported in the news.

dollar: The most notable shift over the last month was a further sharp fall in the value of the pound, according to The Guardian. Against the dollar, the pound is lingering around the $1.22 mark – about 18% lower than on 23 June, the day of the referendum. Although official growth figures to be published on Thursday are likely to show the economy will avoid recession in the second half of the year, the latest Guardian analysis of the post-referendum economy shows a more mixed picture. At one point a flash crash in the currency markets pushed the pound briefly to about $1.15. The Guardian has chosen eight economic indicators, as well as the value of the pound and the performance of the FTSE, to track the economy on a monthly basis. It quickly recovered, but the underlying pressure on the currency has remained following Theresa May declaration that she will trigger article 50 before the end of March 2017. (news.financializer.com). As reported in the news.

england: It is still possible that Anderson, England record Test wicket-taker with 463 in 119 matches, could play some part against the top-ranked Test nation but his availability would depend on the assessment of the medical team, according to The Guardian. Ben Stokes could become one of the best all-rounders, says England Bayliss Read more Despite already being without the pace bowler Mark Wood until at least the new year because of an ankle problem, England decided not to bring in another seamer and instead left the squad unchanged from the two-Test series in Bangladesh. In addition Alex Hales, who opted out of the tour to Bangladesh, is also not named. England will rely on Stuart Broad, Chris Woakes, Ben Stokes, Steven Finn and Jake Ball to continue providing the pace, although the captain, Alastair Cook, and the head coach, Trevor Bayliss, know they need to manage the bowlers' workloads given the punishing schedule of seven Tests in nine weeks. It was an excellent preparation for conditions that will be encountered throughout their stay on the sub-continent and which England slow bowlers Moeen Ali, Adil Rashid, Gareth Batty and Zafar Ansari will hope to exploit. They won the first of those, defeating Bangladesh by 22 runs after a close‑fought match in Chittagong on a wicket offering plenty of turn from the opening session. (news.financializer.com). As reported in the news.

imf: IMF says the region is likely to recover economically within the shortest period if reforms are undertaken to correct a drop in domestic revenue and the effective management of foreign debt, which has partly affected local exchange rates, according to Xinhua China. According to the IMF projections, the economic growth in Africa is expected to grow at 3 percent in 2017 and improve to 4.5 percent in 2018. "This slowdown will be similar to previous ones. Abebe Selassie, IMF Director of the African Department, said the record dip in economic growth in Africa would be short-lived and it is resulted from the massive drop in commodity prices, including heavy metals and oil, affecting key African countries. "There are four reasons for this slowdown, the drought, low commodity prices, the tighter financing conditions and the delayed policy response in the region," Selassie told reporters during the launch of this year economic outlook for the Sub-Saharan Africa. The delayed policy response as a result of the political uncertainty and elections is partly the reason for this, but if these risks are dealt with, the economies will recover," Selassie added. Speaking at the event, Kenyan Treasury Cabinet Secretary Henry Rotich said the government is preparing a number of laws to ensure that it deals effectively with rising needs to finance large-scale infrastructure projects such as the Standard Gauge Railway project. "We have a Value Added Tax law and a new Income Tax law that is being completed to ensure that there are no free tax exemptions," Rotich said. IMF attributed the economic slowdown in Africa to the tightening conditions for borrowing in order to finance government operations and investments. (news.financializer.com). As reported in the news.