Friday, 8 October 2010

Sub-Saharan africa to grow 5.5% in 2011

The International Monetary Fund cut its 2011 growth forecast for Sub-Saharan Africa to 5.5 percent, but the number is still impressive. The IMF had previously estimated growth of 5.9 percent for 2011.Africa’s growth rate is forecast to almost double this year as demand from China and India drive up prices of commodities such as copper and platinum, and exports rebound from last year’s global recession.

Thursday, 7 October 2010

Laos opens stock exchange

Laos, the smallest economy in Southeast Asia, is starting its first stock exchange in early 2011. Landlocked Laos is seeking global investors to help pay for infrastructure projects and create jobs for its 7 million citizens, nearly half of whom are younger than 16. Rio Tinto Group and Electricite de France SA are among companies that have boosted investments in mines and power plants to tap into the nation’s rivers and other natural resources.

Laos’ economy may expand 7.5 percent in 2011 from an estimated 7.4 percent this year and a 5.5 percent pace in 2009, boosted by electricity sales to Thailand and higher prices of copper, gold and silver, the Asian Development Bank said in a report on its website.