Economic growth – Water Valley Chamber http://watervalleychamber.info/ Fri, 24 Jun 2022 00:27:44 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://watervalleychamber.info/wp-content/uploads/2021/11/wat.png Economic growth – Water Valley Chamber http://watervalleychamber.info/ 32 32 NASENI EVC offers technical solutions for economic growth https://watervalleychamber.info/naseni-evc-offers-technical-solutions-for-economic-growth/ Thu, 23 Jun 2022 19:47:01 +0000 https://watervalleychamber.info/naseni-evc-offers-technical-solutions-for-economic-growth/ The Executive Vice President/Director General of the National Agency for Science and Technology Infrastructure (NASENI), Prof. Mohammed Sani Haruna has reiterated that the only path to industrial and technological growth of the Nigerian economy is through research and development. He said any investment by the government that does not take these particular elements into account […]]]>

The Executive Vice President/Director General of the National Agency for Science and Technology Infrastructure (NASENI), Prof. Mohammed Sani Haruna has reiterated that the only path to industrial and technological growth of the Nigerian economy is through research and development.

He said any investment by the government that does not take these particular elements into account in subsequent plans and programs will make successive development programs more or less an exercise in futility.

A press statement signed by the Deputy Director, Information, NASENI, Mr. Olusegun Ayeoyenikan, said that although successive governments since independence have been keen on industrial economy and technological development, the elements of investments in the research and development had been lacking, hence the frustrations.

“Unless the government pays more attention and deliberately funds research towards the industrial and technological sector, the economy will continue to grow at a slower pace,” he said.

TCV NASENI, however, commended the administration of President Muhammadu Buhari for its commitment to strengthening the research and development sector to redirect the national economy from over-reliance on imports by putting local industrialization on the right track.

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$13 Billion Trans-Saharan Gas Project to Boost Economic Growth in Nigeria and Others – Sylva https://watervalleychamber.info/13-billion-trans-saharan-gas-project-to-boost-economic-growth-in-nigeria-and-others-sylva/ Tue, 21 Jun 2022 07:49:38 +0000 https://watervalleychamber.info/13-billion-trans-saharan-gas-project-to-boost-economic-growth-in-nigeria-and-others-sylva/ The federal government has said the $13 billion Trans-Saharan Gas Pipeline Project (TSGP) will represent a huge opportunity for Nigeria, Niger and Algeria to tap into European markets and spur economic growth on the continent. The project, which would stretch from Nigeria through the Republic of Niger to the Mediterranean coast of Algeria, would also […]]]>

The federal government has said the $13 billion Trans-Saharan Gas Pipeline Project (TSGP) will represent a huge opportunity for Nigeria, Niger and Algeria to tap into European markets and spur economic growth on the continent.

The project, which would stretch from Nigeria through the Republic of Niger to the Mediterranean coast of Algeria, would also target gas supplies for Chad and Mali.

Minister of State for Petroleum Resources, Timipre Sylva, at a meeting of the parties in Abuja on Monday, said Nigeria and its African partners Niger and Algeria had stepped up their efforts to bring the project to fruition.

According to the Minister, this will bring their enormous gas resources closer to the European market, especially with the high cost of gas caused by the war between Russia and Ukraine.

“The project brings our gas directly to the European market. Today, much of the gas in Nigeria is stranded or re-injected as there is no infrastructure to bring the gas to market.

“This project will bring gas from where it is produced to the European market, and there couldn’t be a better time, as gas prices are quite firm at this stage.

“I believe it’s a very good time for us to take advantage of very high gas prices globally,” he said.

Sylva said that in addition to bringing gas to European markets, the project would stimulate economic growth on the African continent.

He said it would first create a development corridor across Africa.

“Chad is also not far from the corridor of this project. This project therefore has a lot of potential for the growth of the economies of African countries, West African countries and North African countries,” he said.

The Minister of Petroleum of the Republic of Niger, Mahamadou Mahamane, said the countries were ready to pool their resources to ensure the realization of the project.

Mahamane stressed the need to launch the project, saying it would promote regional cooperation and generate revenue for the countries.

In an address, Algerian Minister of Energy and Mines Mohamed Arkab said the reactivation of the project will boost the countries’ economic development and help them achieve carbon neutrality in line with the global energy transition.

Arkab recalled that a meeting was held in Niamey on February 16, as part of the reactivation of the trans-Saharan gas pipeline project.

Highlighting the progress made by the countries, he said the declaration had been signed by all three parties and the roadmap had been agreed.

He said that it was indeed a tangible sign of the willingness of each of them to go further on the TSGP project, with the aim of launching the update of its feasibility study.

“While being an integral part of the project to decarbonize the oil and gas industry in the short term, and to achieve carbon neutrality in the longer term, we remain convinced that a comprehensive and efficient energy transition cannot be achieved without the supply of hydrocarbons.

“As such, natural gas presents itself as an energy of excellence for ensuring this energy transition, while ensuring security of supply for markets, whose demand is only increasing.

“I invite all parties and teams to actively participate in the realization of this important project, within the required timeframe.

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Experts make the case for coaching for economic growth, Devt https://watervalleychamber.info/experts-make-the-case-for-coaching-for-economic-growth-devt/ Mon, 20 Jun 2022 03:56:07 +0000 https://watervalleychamber.info/experts-make-the-case-for-coaching-for-economic-growth-devt/ Gilbert EkugbeA life coach and personal development expert, Adeoye Abodunrin, said that coaching, if applied correctly, has the potential to develop solution-oriented individuals who can offer ways to revamp the economy of nations towards prosperity. Indeed, the urgent need to develop the human capacity to assume various leadership roles in the national economy cannot be […]]]>

Gilbert Ekugbe
A life coach and personal development expert, Adeoye Abodunrin, said that coaching, if applied correctly, has the potential to develop solution-oriented individuals who can offer ways to revamp the economy of nations towards prosperity.

Indeed, the urgent need to develop the human capacity to assume various leadership roles in the national economy cannot be overstated.

Abodunrin, with over 25 years of coaching experience, said the African continent urgently needs solutions and results. L) implications for its economic outcomes and prospects at the micro, meso and macro phases of its socio-economic landscapes.

He declared it over the weekend by becoming the Online Coach of the Year at the 2022 Gage Awards aimed at recognizing, promoting and rewarding the digital personalities and brands that have shaped the country digitally.

For 2022, the GAGE ​​nominations featured 11 categories which were judged by public votes, and in the Online Coach category he emerged victorious from the strong group of online coaches which includes Lanre Olusola, TriciaBiz, Steve Harris and Naija Brand classy.

He said he was deeply grateful and touched by the award as it gives an indicative measure of the massive trust that online customer communities have in his works and brands.

He also mentioned that the award crystallizes in the distinct feeling of an invitation to the higher and deeper worlds of the “gift” meant to inspire, taking people to the most extreme limits of solving the complex challenges that their businesses face. , their landscapes and their communities are confronted in their respective spheres of current and projected influence.

”This award also reinforces our faith in giving the best of ourselves at all times, not because we admire the vanities or the gladiatorial excesses of champions, but because we desire more than anything else to inspire our world to through our services and the resulting success. of our customers, partners and communities,” he said.

He thanked Nigerians and his customers across the spectrum of his value offerings for voting for him, as well as the organizers for bringing together the awards to honor those making a social impact in the digital space.

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Due to the impact of the protests, Peru forecasts a decline in economic growth https://watervalleychamber.info/due-to-the-impact-of-the-protests-peru-forecasts-a-decline-in-economic-growth/ Sat, 18 Jun 2022 03:57:43 +0000 https://watervalleychamber.info/due-to-the-impact-of-the-protests-peru-forecasts-a-decline-in-economic-growth/ Peru’s central bank is revising its growth projection for 2022 down to 3.1% from 3.4%, citing disruptions in mining projects. Peru is the world’s second largest producer of copper. Protests by indigenous populations have disrupted the Peruvian mining sector in recent months. Peru’s monetary development is likely to be somewhat weaker this year, according to […]]]>

  • Peru’s central bank is revising its growth projection for 2022 down to 3.1% from 3.4%, citing disruptions in mining projects.
  • Peru is the world’s second largest producer of copper.
  • Protests by indigenous populations have disrupted the Peruvian mining sector in recent months.

Peru’s monetary development is likely to be somewhat weaker this year, according to another national bank figure on Friday following disruptions to major mining projects in the Andean country, Peru is the world’s second-largest copper producer.

Reduced customer costs and increased procurement costs have reduced development assumptions in Latin America, creating economies particularly helpless in the face of financial unpredictability.

Peru’s national bank cut its development projection for 2022 to 3.1% from 3.4% previously, while maintaining its development gauge of 3.2% a year from now, bank president Julio Velarde said. in a show.

Velarde cited the continued mining clashes, despite the effect of the Russian-Ukrainian battle, as the driver of the downgraded development projection.

Indigenous fighting has rocked Peru’s mining area lately, including a 51-day shutdown at the Las Bambas copper mine of China-based MMG Ltd (1208.HK), one of the world’s leading manufacturers red metal.

Read more: After two years of interruption, Venezuelan oil deliveries to Europe should restart

“Different areas are performing better compared to what we expected in March. What falls down is mining,” Velarde said.

The national bank reduced its 2022 development assumption for the mining basin from 5.9% to 2.9%.

Velarde said he sees mining companies falling almost 5% this year, and a much more extreme fall possibly in 2023.

“Assuming no new activity appears the following year…there will be a contraction in the mining business in one year of nearly 16%.”

The bank’s projections also factor in a lower financial shortage over this extended period of 1.9% of GDP, down from 2.5% recently projected in March, largely due to higher incomes, Velarde said.

The bank expects an annual expansion of 6.4% for 2022 and 2.5% for 2023. In March, the bank said it expected a 3.6% expansion this year.

The annual expansion in May came in at 8.09%, its highest level in two dozen years, leading the bank to recently raise its benchmark lending fee to 5.5%.

]]> Zimbabwean government set to revise economic growth rate forecast https://watervalleychamber.info/zimbabwean-government-set-to-revise-economic-growth-rate-forecast/ Thu, 16 Jun 2022 21:56:01 +0000 https://watervalleychamber.info/zimbabwean-government-set-to-revise-economic-growth-rate-forecast/ Professor Mthuli Ncube THE Policy Stakeholders Dialogue (POLAD) convened a monetary indaba in Harare on Thursday to find a lasting solution to exchange rate volatility and ways to protect consumers from rising prices of goods and services. The meeting comes as the country grapples with a number of challenges ranging from imported inflation to global […]]]>
Professor Mthuli Ncube

THE Policy Stakeholders Dialogue (POLAD) convened a monetary indaba in Harare on Thursday to find a lasting solution to exchange rate volatility and ways to protect consumers from rising prices of goods and services.

The meeting comes as the country grapples with a number of challenges ranging from imported inflation to global tension which has seen the prices of goods and services rise sharply.

Exchange rate volatility has come under scrutiny, with the parallel market rate rising above $500 ZWL against $1 USD.

This prompted the Political Stakeholders Dialogue (POLAD) to organize a monetary indaba where government, industry and commerce as well as political parties converged to find a lasting solution.

The Chairman of POLAD’s Economic Affairs Committee, Mr. Trust Chikohora, said the indaba sought to find consensus on the challenges facing the economy.

“We had the monetary indaba to make sure everyone is on deck on the way forward as currency volatility has been a big topic. We will be presenting all of this to the president to make sure he understands what was deliberate,” he said.

Minister of Finance and Economic Development, Prof. Mthuli Ncube, who also attended the indaba, said global economic developments have had a negative impact on the country’s economy despite all fundamentals being correct .

“We will review our projected growth rate for this year. As you may know, the World Bank, IMF and AfDB have already revised growth projections. We are going to revise downwards a growth mainly driven by agriculture. Our fundamentals are correct; it’s just arbitrage by retailers.

“Dual currency is going to be with us for a very long time. Introducing the USD as the single currency will wipe out banks, wipe out corporate accounts, so we’re not going that route. The forex auction system has worked well in injecting $2.2 billion into the manufacturing sector, hence an increase in industrial capacity utilization,” he said.

The global economy is sneezing as natural gas and oil prices have risen due to global tension which is expected to slow the rate of global economic growth.

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People-Driven Economic Growth – Anirban R Banerjee https://watervalleychamber.info/people-driven-economic-growth-anirban-r-banerjee/ Thu, 16 Jun 2022 05:51:36 +0000 https://watervalleychamber.info/people-driven-economic-growth-anirban-r-banerjee/ India’s emergence as a start-up nation will bring about profound change that has the potential to transform India into a more inclusive and equitable society. According to a report, by 2025, the number of start-ups will reach 1 million and 150 startups will join the Indian unicorn club in 2022. This number is expected to […]]]>

India’s emergence as a start-up nation will bring about profound change that has the potential to transform India into a more inclusive and equitable society. According to a report, by 2025, the number of start-ups will reach 1 million and 150 startups will join the Indian unicorn club in 2022. This number is expected to reach 1000 unicorns with nearly 100 of them valued at over $5 billion. India needs to embrace its start-up entrepreneurship and celebrate its talent. Working with fast growing and democratic economies like Bangladesh, Nepal and Bhutan can take our economy to the next level. Startups and MSMEs can be a game changer if we can tune the HR climate to enable them to proceed with high precision and quality. products that can lead to the emergence and support of a range of defense technologies, aerospace and other high-tech R&D sectors.

India’s dependence on imports related to the manufacture of advanced mechanical and electrical machinery and capital goods from countries like China needs to be bolstered by domestic industry. We import 58-60% of our capital goods from China. Our current trade deficit with China stands at $69.4 billion, a country with which we have had a direct military confrontation for the past seven decades.

We must celebrate and support our startups, MSMEs who are making a crucial contribution to India’s GDP. MSMEs contribute over 29% of GDP and are responsible for 50% of the country’s total exports. They are also responsible for a third of India’s manufacturing output. Our human resources and the entrepreneurial power of startups and MSMEs can be an engine of growth to prevent India from losing its GDP, according to one estimate, India is losing around $40 billion due to its dependence on imports from China. We can add $20 billion to our GDP if we reduce imports from China by 50% by putting in place the right ecosystem for our human resources and entrepreneurs. This will not only reduce our dependence on imports, but will also directly and indirectly create jobs and demand for other goods and services. More importantly, it will create opportunities for a range of talent now leaving India. We also need to improve the quality of our education and provide students with the right resources and exposure to drive that growth. We need to embrace a more integrated industry and academic partnership to enable us to make the most of these opportunities.

My interaction over the past few years with companies around the world raises a question: how ready is India to make the most of this unique opportunity? The biggest challenge for the Indian economy is its ability to manage human resources, as this requires a change of mindset in our approach to human resource development. If we can solve the problems of our people, we can ride the tiger. Our productivity levels, product and service quality can all be improved, and we can be much more competitive than China. According to a report, burnout at age 30 is impacting India’s long-term economic growth. In the latest Microsoft Work Trend Index 2021 report, India had the second highest percentage of workers facing an increase in burnout in Asia over 29 hours. The report also shows that India came out on top with more than 41% of workers citing the lack of separation between work and personal life as having a negative impact on their wellbeing, leading to increased stress levels.

India has immense potential to transform by adopting a more holistic approach to human resource development that will drive business transformation that will need to take into account organizational development and interventions that address physical wellbeing issues. and mind. Business acceleration and start-ups can make the most of this opportunity by making it competitive and shifting the focus from effective governance to effective governance. They must adopt a model that encompasses talent development interventions and operational processes that are linked to the philosophy of human resource development and that embrace employee well-being as a catalyst to drive change and enable business growth. company. My experience of the last two years shows that the solutions are not complex and that it only takes decision and will to bring about change. Industry and policymakers must accept that people are not like any other resource, but the lifeline of the economy. Organizational values ​​should include health and happiness as part of working life.

The future of the ‘Brand of India’ will be the story of ordinary people achieving the extraordinary. India must be open and comfortable doing business with other democratic economies, which will create opportunities for collaboration and growth. 2021 will be a historic year for India, not for the Wuhan virus from China and the rise of a few billionaires but for the realization that only true relationships can bring happiness. Physical health, intellectual growth and spiritual commitment are all as important as our work. Second, the example set by ethical, sustainable and value-driven companies that have chosen the well-being of their employees and demonstrated mature management by focusing on long-term growth rather than gains short term. This has brought about a paradigm shift in the Indian economy. The post-pandemic years are paving the way for more sustainable and quality-driven businesses. A new breed of startups are emerging as new role models for a resurgent Indian that drive growth by fostering employee wellbeing, social inclusion, and commitment to the nation. May each of us contribute in our small scale to see India become a global hub for industries and people to work together for health, happiness and growth.

He is a business transformation expert and a mentor for StartUp. He is a speaker, author and columnist on topics related to business acceleration and the South Asian economy. He can be contacted at knowledgecell@gmail.com

Disclaimer: The views expressed in the article above are those of the authors and do not necessarily represent or reflect the views of this publishing house. Unless otherwise indicated, the author writes in a personal capacity. They are not intended and should not be taken to represent the official ideas, attitudes or policies of any agency or institution.


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G20 economic growth slows to 0.7pc in first quarter – Latest News – The Nation https://watervalleychamber.info/g20-economic-growth-slows-to-0-7pc-in-first-quarter-latest-news-the-nation/ Tue, 14 Jun 2022 20:17:04 +0000 https://watervalleychamber.info/g20-economic-growth-slows-to-0-7pc-in-first-quarter-latest-news-the-nation/ ANKARA – The Group of Twenty (G20) countries saw their cumulative GDP growth rate slow to 0.7% in the first quarter of 2022, according to provisional estimates released on Tuesday. The figure is down from the 1.3% quarterly growth rate recorded in the last three months of last year, the Organization for Economic Co-operation and […]]]>

ANKARA – The Group of Twenty (G20) countries saw their cumulative GDP growth rate slow to 0.7% in the first quarter of 2022, according to provisional estimates released on Tuesday.

The figure is down from the 1.3% quarterly growth rate recorded in the last three months of last year, the Organization for Economic Co-operation and Development (OECD) said in a report.

“The slowdown in the G20 area in the first quarter of 2022 mainly reflects a weaker performance in the United States, where GDP contracted 0.4% quarter-on-quarter after rising 1.7% in the fourth quarter of 2021. “, says the report.

“This was primarily due to changes in net trade and lower inventory investment and government COVID-19 relief spending.”

Quarterly expansion also slowed by more than 2 percentage points in Australia and Indonesia, while the Canadian, Chinese, Indian, Italian, Korean, Turkish and British economies also faced declining growth, albeit in to a lesser extent, he added.

Brazil, Germany, Mexico, South Africa and the EU saw stronger growth in January-March 2022, compared to the previous October-December. Growth in Saudi Arabia was the highest among G20 economies at 2.6% due to higher oil activities and crude prices.

In the OECD area, which includes 38 countries, including a dozen G20 countries, GDP growth is estimated at 0.3% in the first quarter of this year.

Turkey’s economy is estimated to have grown by 1.2% in the first quarter of 2022 compared to the previous quarter, according to provisional figures. It is estimated to have an annual growth of 7.4% in the first three months of the year, compared to the same period last year.

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ColoradoCast expects economic growth to slow in coming months https://watervalleychamber.info/coloradocast-expects-economic-growth-to-slow-in-coming-months/ Mon, 13 Jun 2022 15:57:56 +0000 https://watervalleychamber.info/coloradocast-expects-economic-growth-to-slow-in-coming-months/ To note: the full report can be downloaded from coloradofuturescsu.org. The ColoradoCast, the state’s only short-term economic forecast, projects that Colorado’s economic growth will slow significantly in the fourth quarter of 2022. The current ColoradoCast projects that economic growth in October 2022 will slow to an annual rate of 1.8%, a considerable slowdown from current […]]]>

To note: the full report can be downloaded from coloradofuturescsu.org.

The ColoradoCast, the state’s only short-term economic forecast, projects that Colorado’s economic growth will slow significantly in the fourth quarter of 2022.

The current ColoradoCast projects that economic growth in October 2022 will slow to an annual rate of 1.8%, a considerable slowdown from current rates of around 5% annual growth.

Due to the strong economic recovery from the COVID shutdown, Colorado’s economy is expected to remain above pre-pandemic levels. However, the state’s economy, like other state and national economies, is being affected by the headwinds of continued supply chain disruptions, the war in Ukraine, and the multiple impacts of inflation.

The slowdown in the forecast model is largely attributed to lags in some drivers of the economy, notably the more domestic drivers in equity and bond markets. Local house price and labor market indicators have remained relatively strong over the forecast period.

“The downturn is not unexpected,” said Dr. Phyllis Resnick, director of the Colorado Futures Center. Colorado’s economy is not immune to the stressors that all economies face. Hopefully the underlying strength of the local economy can help Colorado avoid a recession, but warning signs are starting to appear.

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China strives to balance dynamic COVID-19 control and economic growth https://watervalleychamber.info/china-strives-to-balance-dynamic-covid-19-control-and-economic-growth/ Sat, 11 Jun 2022 17:34:00 +0000 https://watervalleychamber.info/china-strives-to-balance-dynamic-covid-19-control-and-economic-growth/ During President Xi Jinping’s last inspection of the southwest China Sichuan Provincehe called for efforts to overcome economic development challenges while emphasizing that the dynamic zero COVID-19 approach must be maintained unwaveringly. President Xi, also general secretary of the Communist Party of China (PCC) Central Committee, began its inspection on Wednesday and visited the cities […]]]>

During President Xi Jinping’s last inspection of the southwest China Sichuan Provincehe called for efforts to overcome economic development challenges while emphasizing that the dynamic zero COVID-19 approach must be maintained unwaveringly.

President Xi, also general secretary of the Communist Party of China (PCC) Central Committee, began its inspection on Wednesday and visited the cities of Meishan and Yibin.

Promote green agricultural development

Promoting agricultural modernization was highlighted during Xi’s visit to Yongfeng Village. Relying on the advantages of rice industry and technology, the village has built the largest pilot testing base of new rice varieties in the province.

After learning about local efforts to advance the development of high-level farmland, boost grain production and promote rural revitalization, Xi said efforts are needed to strengthen the application and training of science and modern agricultural technologies and actively develop green, ecological and efficient agriculture.

“The Chinese have the confidence to keep the bowl of rice firmly in their hands,” he said, adding that it is important to ensure food security, especially grain production.

Protection of the ecological environment in the Yangtze River Basin

Protecting the ecological environment was another goal of Xi’s inspection tour.

Protecting the ecological environment of the Yangtze basin is the prerequisite for promoting high-quality development of the Yangtze economic belt, Xi said during his visit to Sanjiangkou, where the Jinsha and Minjiang rivers converge on the Yangtze.

The Yangtze River Economic Belt covers nine provinces and two municipalities, accounting for more than 40% of the country’s population and overall economy.

China The senior leaders called for efforts to make the economic belt the center of the country’s green development, the main artery of a smooth “dual circulation” of domestic and international markets, and the main driver of economic development in high quality.

Ensure people’s normal life and production

During the inspection, Xi also called for measures to facilitate the employment of university graduates, promote scientific and technological innovation in enterprises and strengthen the country’s independent innovation capacity.

The President was deeply concerned about the rescue and treatment of those injured in the 6.1 magnitude earthquake in Ya’an de Sichuan June 1.

He urged local authorities to make appropriate arrangements for quake-affected residents, ensure the supply of basic necessities and develop recovery and reconstruction plans.

Speaking of the recent floods and geological disasters in parts of China, he called for early emergency preparations to protect people’s lives and property. He also demanded rapid rescue efforts after disasters to minimize casualties and loss of property.

https://news.cgtn.com/news/2022-06-09/Xi-Jinping-inspects-southwestern-Chinese-city-of-Yibin-1aIZLohONTG/index.html

SOURCECGTN

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