Growth in the world economy is surpassing expectations and global GDP is now expected to expand by more than three per cent this year and in 2019, reflecting strong growth in developed countries and broadly favourable investment conditions, a new UN report finds.
But rising trade tensions, heightened uncertainty over monetary policy, increasing debt levels and greater geopolitical tensions can potentially thwart progress, according to the United Nations World Economic Situation and Prospects (WESP) as of mid-2018, launched today in New York.
According to the report, world economic growth is now forecast to reach 3.2 per cent both in 2018 and 2019, an upward revision by 0.2 and 0.1 percentage point, respectively. This revised outlook reflects further improvement in the growth forecast for developed economies due to accelerating wage growth, broadly favourable investment conditions, and the short-term impact of a fiscal stimulus package in the United States. World trade growth has also accelerated, reflecting a widespread increase in global demand. Many commodity-exporting countries will also benefit from the higher level of energy and metal prices. While the modest rise in global commodity prices will exert some upward pressure on inflation in many countries, the report notes that inflationary pressures remain contained across most developed and developing regions.
Speaking at the launch, UN Assistant Secretary-General for Economic Development and Chief Economist Elliott Harris said the upward revision in the global economic forecast reflected in the report is positive news for the prospects of making tangible progress towards achieving the Sustainable Development Goals, but cautioned that “there is a strong need not to become complacent in response to upward trending headline figures.”
Growth in global economy exceeds expectations, but increased risks could threaten economic outlook, UN report says
Chinese and African companies meet at B2B ‘match-making’ event, facilitated by ITC
More than 70 African and 80 Chinese companies met at a B2B Match-Making Event in Hangzhou, China on 25 – 27 April 2018 to explore and expand upon business and investment partnerships in the agro-processing and light manufacturing sectors. The event was organised under the auspices of Partnership and Investment for Growth in Africa (PIGA) a multi-lateral project consisting of the Chinese government, the UK Department for International Development (DfID), the four African nations of Kenya, Ethiopia, Mozambique and Zambia and the International Trade Center (ITC) based in Geneva.
Companies participating in this B2B ‘match-making’ event took the opportunity to meet with new business partners, explore new areas of cooperation and attend the plenary and practical sessions of the event. An estimated 450 to 500 one-on-one meetings took place. In addition to the 376 pre-arranged meetings approximately 100 on the spot bilateral meetings were arranged. 17 Ethiopian companies took part in the event and had discussions with Chinese companies that generated 24 leads for investment partnerships.
PIGA’s goal is to increase exports, jobs and local development through foreign investments and business partnerships in agro-processing and light manufacturing sectors in the four African countries.
The Second Technology Innovation Challenge for Girls held
Technovation Ethiopia held the second regional pitching and closing ceremony of the 2018 Technovation challenge on May 12, 2018 at Sapphire Addis Hotel. Seventeen teams of girls from 17 different schools and TVET Colleges participated in this tech challenge and presented their pitch in front of judges, invited guests and parents. Technovation offers girls around the world the opportunity to learn the necessary skills to become tech entrepreneurs and leaders. Girls from age10 to 18 learn to identify a problem in their community and create a mobile app solution to address that problem, and they also learn how to communicate these ideas and translate them into a fully launched business.
For 2018, Synergy Habesha Films and Communications P.L.C in collaboration with the Ethiopian Ministry of Science and Technology, German Development Cooperation implemented by Deutsche Gesellschaftfür Internationale Zuammenarbeit GmbH (GIZ)Sustainable Training and Education Programme (STEP)organized this program. The opening speech was delivered by the Ethiopian Ministry of Science and Technology deputy minister Dr. ShumeteGizaw. In 2018 competition more than 90 students participated. The judges were pulled from the Ethiopian Ministry of Science and Technology, Deutsche Gesellschaftfür Internationale Zuammenarbeit GmbH (GIZ) Sustainable Training and Education Programme (STEP) and private sector of information, communication and technology. The applications developed by the participants focused on the United Nations Sustainable Development Goals (SDGs), which includes education, health and environment as key subject matters. The tech challenge had four stages: ideation, coding, entrepreneurship and marketing and pitching. Ethiopia became an own chapter in the Technovation Challenge by sending 18 Ethiopian Technovation teams to the Global Technovation competition. Through Technovation, girls develop key 21st century skills and competencies including: critical thinking, creativity, grit, collaboration, initiative, problem solving, communication, curiosity, persistence and adaptability.
EFF executive Abebe Gelagay blamed for interference
Ethiopian Football Federation executive member and one of the most influential personality in Juneidn Basha’s cabinet, Abebe Gelagay is blamed for meddling in referral matters and disciplinary measures taken by the officials. “He is a major setback on Referee-Players’ relationship in the field.” remarked international arbiter Dawit Asamenaw.
This is not the first time the former Member of Parliament and current EFF executive Abebe Gelagay had been allegedly blamed for interfering in Ethiopian national team selection when the former Coach Ashenafi Bekele was at the helm. At the time Abebe appeared in public to deny the allegation at the same time clarifying the situation that his role as Organizing Committee chairman was simply in support of the Coach in building a stronger national squad.
This time the allegation came from international referee Dawit Asamenaw who told reporters that Abebe’s interference is rather too strong even some players undermining referee’s red card decision claiming that nothing could come out of it. “When some players got red card they brag on us on the spot that our decision would be turned down soon. How come a player suspended for four matches could be back in to action the next game” remarked Dawit. “The man behind these humiliating deeds is Abebe” Dawit added.
Dawit is not the only one who blamed individual interferences contributed for the current chaotic situation surrounding Ethiopian Football. According to Federal Assistant referee Markos Tufa there are times when red card decisions turned down without the knowledge of the concerned body and in many occasion Clubs’ complaints simply thrown away. “I believe there is some corruption behind these arms twisting of referees” Assistant referee Markos suggested.
