Finance & Economics | WPN World People News

The agricultural sector in East and Southern Africa is transforming due to increased productivity as more land is being cultivated but agricultural growth has not always led to poverty reduction; many small farmers in the region continue to live in poverty while struggling to own land and access credit, warns a new report presented in Nairobi the day before by the International Fund for Agricultural Development (IFAD).

The EU needs to update its long-term financial plan to cope with unforeseen crises said MEPs in their vote on its forthcoming review, on Wednesday. MEPs acknowledged that the Commission’s proposal to revise the multiannual financial framework (MFF) genuinely responds to requests in Parliament’s negotiating stance, adopted in July, for more flexibility and an EU crisis reserve. However, they were disappointed that resources remain unchanged.

A record 137 economies around the world have adopted key reforms that make it easier to start and operate small and medium-sized businesses, says Doing Business 2017: Equal Opportunity for All, the World Bank Group’s annual report on the ease of doing business.

Plans to prolong a 10% increase in the EU contribution towards regional and social project costs in Greece until 30 June of the year after its economic adjustment programme ends were approved by Parliament on Tuesday. MEPs also approved a special provision whereby the EU would pay up to 85% of project costs in Cyprus until the current regional and social policy programming period ends in 2020.

This year, Thailand ranks at 46 on the ease of doing business, retaining a spot among the top 50 economies among 190 economies, worldwide.

● Managing Director concludes visit to Pakistan

● Ms Lagarde congratulates the country on successfully completing its IMF-supported economic program

● Ms Lagarde says this is Pakistan’s moment of opportunity to forcefully address remaining economic challenges

The EU strategy for liquefied natural gas (LNG) must make energy supplies more secure, cut carbon emissions and deliver affordable prices say MEPs in a resolution voted on Tuesday. Parliament calls on the EU Commission to aim to reduce the EU’s dependency on gas in the long term by using it more efficiently and gradually phasing out fossil fuel subsidies.

Economies of the Europe and Central Asia region place among the top improvers in the World Bank Group’s ease of doing business report.

All but one of the region’s 25 economies carried out business reforms in the past year, for a total of 57, finds Doing Business 2017: Equal Opportunity for All, released on October 25.

Clear rules requiring EU firms to respect human rights in all their global operations must be laid down and enforced, urge MEPs in a resolution voted on Tuesday. Clauses on corporate liability for human rights violations should be included in EU trade and investment agreements, they add. MEPs also advocate creating a certified “abuse-free” product label at EU level.

Improved fiscal management is supporting GDP growth in Indonesia, projected at 5.1 percent for 2016, according to a new World Bank report.