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Author Archives: Global Affairs

African nations celebrate Africa Day 2017

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The Dean of theAfrican ambassadors, High Commissioner of the Republic of South Africa H.E Mpendulo Jele hosted a festive reception to celebrate Africa Day 2017. The Day is celebrated by the African nations every year to express their solidarity and commitment to freedom, liberty, democracy and human rights. H.E Walid Abu Ali, ambassador of the State of Palestine was the ...

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UAE unveils long-term energy strategy

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The United Arab Emirates (UAE) has unveiled plans to increase the contribution of “clean energy” in its total energy mix to 50% by 2050. The UAE’s new energy strategy sees half of the country’s energy coming from renewable and nuclear, with the remaining half coming from fossil fuels. The strategy was unveiled by the UAE’s vice president, Sheikh Mohammed bin Rashid ...

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IMF cuts India’s growth rate after demonetisation

The International Monetary Fund logo is seen inside its headquarters at the end of the IMF/World Bank annual meetings in Washington, U.S., October 9, 2016. REUTERS/Yuri Gripas

  The International Monetary Fund (IMF) cuts India’s growth rate for the 2016-17 fiscal year to 6.6 per cent from its previous estimate of 7.6pc due to “temporary negative consumption shock” of demonetisation, days after the World Bank also decelerated India’s growth estimates. “In India, growth forecast for the present year (2016-17) and the next fiscal year were trimmed by ...

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Lebanese President Michael Aoun visits Saudi Arabia

Saudi King Salman bin Abulaziz Al-Saud meets with Lebanon's President Michel Aoun (L) in Riyadh, Saudi Arabia, January 10, 2017. Dalati Nohra/Handout via Reuters

Lebanon’s new president visits Saudi Arabia in an effort to restore billions in military aid, a delicate task as his country grows closer to Iran, the kingdom’s main rival for Middle East power.   King Salman bin Abdulaziz Al Saud held at Al-Yamamah palace in Riyadh official talks with General Michel Aoun, President of the Republic of Lebanon. During the ...

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Sweden’s Central Bank Considers Digital Currency

Swedish Krona Currency At An Exchange Office...Swedish 1000 krona (SEK) notes are handled by a cashier in this arranged photograph inside a currency exchange in Malmo, Sweden, on Tuesday, May 14, 2013. Sweden's krona sank after a report showed consumer prices declined more than most economists had predicted. Photographer: Linus Hook/Bloomberg

The central bank of Sweden is considering issuing a digital currency in response to a drastic decline in the use of cash in the country. If the so-called e-krona is introduced, Sweden would be the first European country to have central bank-backed virtual money, just as it was the first to issue paper banknotes more than 300 years ago. Ecuador ...

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Carlyle to become largest shareholder in South Africa

A general view of the lobby outside of the Carlyle Group offices in Washington, U.S. May 3, 2012. REUTERS/Jonathan Ernst/File Photo

Carlyle Group (CG.O) is to become the largest shareholder in Johannesburg-based Global Credit Ratings (GCR), the U.S. buyout fund said, looking to broaden the pan-African ratings agency’s services. Carlyle is set to buy around half of the equity in GCR from its management founders and German development finance business DEG, which will remain invested in the company, Carlyle said. GCR ...

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Portugal mourns ‘father of democracy and liberty’ Mario Soares

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Warm tributes were paid to Mario Soares, Portugal’s former president and prime minister, who has died aged 92. He had mostly been in a coma since he admitted in hospital. Soares was a central figure in the country’s return to democracy in the 1970s after decades of rightist dictatorship. Portugal’s current premier Antonio Costa described him as a man who ...

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Horoscope February 2017

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Aries February 2017 Aries Horoscope predicts that you will be more enterprising and motivated to get things done in your profession or career this month. The Aries personality will put more effort to accomplish their career targets. The Aries zodiac sign people can use their natural independence and liberty to take action as per their own desire to achieve their ...

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CPEC and opportunities for foreign investors

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Aslam Mumtaz China Pakistan Economic Corridor (CPEC), a $46 billion mega economic project is moving forward to its heights. Since its beginning, CPEC has yet completed so many its inter-connected projects successfully. It has played a major role in attracting investors to Pakistan as there is a conducive environment which would help encourage foreign investment in diverse economic spheres. CPEC ...

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Global Affairs brought positive intervention to take up Global Issues at the European Parliament

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Aslam Mumtaz Global Affairs has recently brought another positive intervention to take up Global Issues as its main agenda into the European Parliament-Brussels in which a lot of dignities from the United Kingdom and Brussels took active part. Besides Mrs. Farah Azeem Shah and Ch Shahzad Akhtar Chief Editor Global Affairs, there were key participants such as H.E Ms. Naghmana ...

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