economy

Despite global economic turmoil, foreign direct investment increased in 2011 – UN

In spite of the economic turmoil that shook countries last year, global foreign direct investment (FDI) rose by 17 per cent, according to a United Nations report released today, which predicts it will continue to increase this year but warns of the risks posed by the frail economic climate.

Global economy unlikely to improve significantly next year – UN

A United Nations report unveiled today paints a gloomy picture of the performance of the global economy next year, with growth projected to be a meagre 3.1 per cent, followed by 3.5 per cent in 2012 – rates that are insufficient to spur the recovery of the jobs that were lost during the economic crisis.

Morocco proposes high-level UN dialogue on African investment

To maximize Africa’s potential, the Prime Minister of Morocco today called for a high-level General Assembly dialogue on spurring investment in the continent, which is home to more than 900 million people and abounds in natural resources.

Flowers sent to Europe first export from Gaza in a year, UN says

A truckload of cut flowers made it out of Gaza today and into Israel en route to Europe for sale, the first exports from the violence-wracked territory in over a year, the United Nations said today.

Assembly President calls for action to bring marginalized into mainstream

The President of the General Assembly today stressed the need to recognize the rights of the marginalized and boost their inclusion in local and global financial structures, during the launch at United Nations Headquarters in New York of the first-ever World Day of Social Justice.

Women must be included in solving global economic meltdown, UN says

Governments must give women a key role in making decisions aimed at resolving the current global economic crisis, which is likely have a serious impact on the full realization of gender equality, a United Nations committee warned today.

Renovation plan will result in major ‘greening’ of UN complex, says official

The renovation project designed to make United Nations Headquarters in New York more modern, safe and sustainable will result in a significant “greening” of the landmark complex that will reduce energy consumption and operating costs, as well as lower the world body’s carbon footprint, the official in charge of the overhaul said today.

Ban hails move by creditor nations to cancel nearly $8 billion in Iraqi debt

Secretary-General Ban Ki-moon today hailed the decision of the 19-member Paris Club of nations to cancel the remaining 20 per cent of Iraq's debt from the Saddam Hussein era – amounting to $7.8 billion – and called on other creditors to take similar action to help the country rebuild its economy.

Africa faces ‘enormous difficulties’ on macroeconomic convergence - UN

African countries are making tremendous efforts towards sound macroeconomic policy convergence on inflation, budget deficits and economic growth rates, but need to mainstream regional monetary and macroeconomic objectives in their national development strategies, according to a new United Nations report.

Palestinian economic prospects look bleak, according to World Bank report

The Palestinian economy is becoming increasingly aid dependent, and Israel’s policy of border crossings closures in the Gaza Strip is eroding the occupied territory’s industrial backbone and paralyzing its municipal services, a World Bank report warns today.